NEWARK, Del, April 26, 2024 (GLOBE NEWSWIRE) -- The FMCG logistics market is on its way to marking a valuation of US$ 117.1 billion in 2024. With the rapid boom of both the eCommerce and FMGC industry, market players can expect a 4.1% CAGR between 2024 and 2034. This could potentially result in a market valuation of US$ 175.0 billion by 2034.
As consumer preferences move towards online shopping, the demand for fast-moving consumer goods has increased, which has created new opportunities for investors to invest in the industry. With the integration of better technology and improved convenient logistic services, the market is expected to gain even more potential in the coming years.
FMCG companies are actively investing in research and development activities related to logistics to provide more convenience to their consumers. This has led to the development of new logistics solutions that are more efficient and cost-effective. The use of new technologies such as automation, artificial intelligence, and blockchain is expected to streamline the FMCG logistics industry and make it more efficient.
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Urbanization is another factor positively impacting the FMCG logistics industry. As more people move to urban areas, there is immense demand for packaged beverages, food products, and personal care items. This has led to the development of new logistics solutions that cater to the needs of urban consumers. For example, last-mile delivery solutions have become increasingly popular among urban consumers who value convenience and speed.
The increase in disposable income among middle-class people is also contributing to the growth of the FMCG logistics industry. As people's incomes rise, they are increasingly spending money on fast-moving consumer goods such as beverages, personal care products, and other household items. This trend is expected to continue in the coming years, ultimately leading to further growth in the FMCG logistics market.
The changing retail landscape is also driving the growth of the FMCG logistics industry. Retail places such as supermarkets, hypermarkets, and online stores are gaining popularity and they are offering a wide range of FMCG products. This trend has created new opportunities for FMCG logistics companies to expand their reach and enrich their services.
“The need for sustainable logistics solutions is also driving the growth of the FMCG logistics industry. Consumers are becoming more environmentally conscious and are looking for logistics solutions that are sustainable and have a low environmental impact. This has led to the development of new logistics solutions that are more eco-friendly” - Opines Ronak Shah (Associate Vice President at Future Market Insights).
Key Takeaways from the FMCG Logistic Market
- The FMCG logistic market is on track to register a CAGR of 4.1%, reaching a valuation of US$ 175.0 billion by 2034.
- Roadways segment is set to dominate the market by registering a 3.9% CAGR from 2024 to 2034.
- With a 3.7% market CAGR, the food and beverage segment is en route to lead the market from 2024 to 2034.
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Competitive Landscape
In an effort to enhance the consumer experience, market providers are adopting innovative marketing strategies for logistics transportation. As a result of ongoing research and development, the market is expected to experience significant growth in the foreseeable future. Leading industry players are investing heavily in advancing their logistics services to capture a larger market share. Additionally, governments and other regulatory bodies are engaging with logistics providers to support their research and development efforts.
Recent Development in the FMCG Logistic Market
In 2023, Reliance Retail achieved a significant milestone by expanding its presence through the addition of 3,300 new stores. This has brought the total number of stores to a whopping 18,040. This has resulted in a combined area of 65.6 million square feet, making it a retail giant in India. The company's commitment to offering an outstanding and seamless shopping experience to its customers across the country is reflected in this expansion.
Key Player
- C.H. Robinson Worldwide Inc.
- United Parcel Service, Inc.
- FedEx Corp
- Deutsche Post AG
- Kuehne+Nagel International AG
- A.P. Moller - Maersk
- Schenker AG
- DSV Solutions
- Nippon Express Holdings, Inc.
- Landstar System Holdings, Inc.
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Key Segments
By Mode of Transportation:
- Railways
- Airways
- Roadways
- Seaways
By Product Type:
- Food & Beverages
- Personal Care
- Household Care
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
Authored By:
Ronak Shah (Associate Vice President at Future Market Insights) is deeply committed to uncovering actionable insights for consumer and food and beverage players. She brings a unique blend of analysis, industry trends, and consumer behavior to put data into perspective.
What she makes out of data becomes a delight to read. She has authored many opinions, including for publications like Process Industry Informer and Spinal Surgery News, as she understands the market pulse and consumers' shifting preferences.
She likes to bring experts to a roundtable to weigh the impact of a trend on an industry. Catch up with her discussion on the impact of AI in packaging.
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