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Overview of the global 3PL market in FMCG industry
Outsourcing logistics to 3PL companies enables FMCG companies to focus on their core competencies. As the 3PL companies are equipped with a large resource network, they have significant advantages over in-house supply chains. Technavio’s market study identifies the increased need for 3PL to be one of the primary growth factors for the 3PL market in FMCG industry. In addition to extensive network, outsourcing to 3PL companies saves time and money and provides high expertise, flexibility and scalability. Also, after employing 3PL enables the FMCG companies to scale the space, labor, and transportation as per their need and demand. Our market analysts estimate that the market will grow steadily at a CAGR of close to 6% during the forecast period.
The trend of sharing assets is gaining popularity among consumers, primarily through applications such as Uber Technologies and Airbnb. Uber Technologies offers the largest cab sharing services and Airbnb offers the facility of sharing accommodation. Asset sharing services are gaining prominence as it increases the asset utilization and lowers the cost of sharing. Construction industries in the B2B sector are sharing their heavy equipment to reduce the idle time of their assets and generate revenue. The increasing popularity of sharing economy is driving the growth of the 3PL market in FMCG industry.
Competitive landscape and key vendors
The 3PL market in FMCG industry is highly fragmented due to the presence of several international and regional players. 3PL service providers in the market compete intensely based on price, delivery speed, reliability, and supply chain capacity. By offering value-added services, companies would differentiate their service offerings. Several players in the FMCG logistics market are adopting M&A strategies to increase the product portfolio and expand their geographical presence.
The leading vendors in the market are
- CEVA Logistics
- C.H. ROBINSON
- Deutsche Bahn
- Deutsche Post DHL Group
- Kuehne + Nagel
- Nippon Express
The other vendors in the market are DACHSER, GEFCO, and XPO Logistics.
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Segmentation by end-user and analysis of the 3PL market in FMCG industry
- Food
- Beverage
- Personal Care
- Household Care
The food industry is the primary end-user for the FMCG logistics market due to the growing sales of packaged food products and staple food products. The increasingly hectic lifestyles increase the demand for packaged food products as people have limited time to cook food. Also, the rising population and growing number of retail outlets will drive the need for 3PL market.
Geographical segmentation and analysis of the 3PL market in FMCG industry
APAC will be the primary revenue contributor to the 3PL market in FMCG industry due to the growing sales of food, beverage, and personal care products, that requires extensive 3PL services. The rising disposable income of residents that is driving the growth of cosmetics industry will play a significant role in driving the need for 3PL services in this region.
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Key questions answered in the report include
- What will the 3PL market size and growth rate be in 2022?
- What are the key factors driving the global 3PL market in FMCG industry?
- What are the key market trends impacting the growth of the global 3PL market in FMCG industry?
- What are the challenges to market growth?
- Who are the key vendors in the global 3PL market in FMCG industry?
- What are the market opportunities and threats faced by the vendors in the global 3PL market in FMCG industry?
- Trending factors influencing the market shares of the Americas, APAC, and EMEA.
- What are the key outcomes of the five forces analysis of the global 3PL market in FMCG industry?