According to the Market Statsville Group (MSG), the global sea freight forwarding market size was valued at USD 115.2 billion in 2022, which is expected to reach USD 187.9 billion in 2033, growing at a CAGR of 3.6% from 2023 to 2033.

The global sea freight forwarding market is driven due to the growth of international trade and globalization, the expansion of the e-commerce industry, and the increasing adoption of sustainable logistics practices. The increase in international trade, driven by globalization, has created a surge in demand for sea freight forwarding services. Companies worldwide rely on sea freight forwarding to transport goods across borders, making it a vital component of global trade. Further, The logistics industry is being transformed by advancements in digital technologies such as IoT, blockchain, and AI. These technologies are driving efficiency and reducing costs, helping sea freight forwarding companies streamline their operations and offer more value-added services to their clients. Containerization has become the standard for sea freight transport, making it more efficient and cost-effective. The use of multimodal transportation, which combines different modes of transport such as sea, rail, and road, has also become increasingly popular, allowing for faster and more efficient delivery of goods.

Definition of the Global Sea Freight Forwarding Market

Sea freight forwarding is the process of transporting goods or cargo by sea from one place to another. It involves coordinating and managing various activities related to the shipment of goods, including booking cargo space on ships, documentation, customs clearance, and delivery to the final destination. Sea freight forwarding plays a crucial role in global trade and helps businesses move their products across borders efficiently and cost-effectively. Sea freight forwarding companies act as intermediaries between the shippers and carriers, providing a range of services, such as packaging, labeling, and documentation, to ensure that the cargo is transported safely and securely. These companies also offer value-added services such as warehousing, distribution, and supply chain management. Sea freight forwarding is preferred for large or heavy shipments, as sea freight is usually less expensive compared to air freight and is suitable for transporting bulk commodities such as crude oil, coal, and grains. It is also the most eco-friendly mode of transportation, with lower carbon emissions compared to air and road transport.

COVID-19 Impact on the Global Sea Freight Forwarding Market

The pandemic led to disruptions in the supply chain, causing delays and increased costs for sea freight forwarding companies. The closure of ports and borders, coupled with reduced capacity on ships, has led to a shortage of cargo space, driving up prices and causing delays in delivery times. Further, it also caused changes in consumer demand, with an increase in e-commerce and home delivery services. This led to a surge in demand for sea freight forwarding services, particularly for transporting essential goods such as medical supplies and food. However, the pandemic created opportunities for innovation and growth in the sea freight forwarding industry. Sea freight forwarding companies have been forced to adopt new technologies and digital solutions to streamline their operations and ensure the safe delivery of goods.

Scope of the Global Sea Freight Forwarding Market

The study categorizes the sea freight forwarding market based on service type, and end-use industry area at the regional and global levels.

By Service Type Outlook (Sales, USD Million, 2019-2033)

• Full Container Load (FCL)
• Less-than Container Load (LCL)
• Others

By End-Use Industry Outlook (Sales, USD Million, 2019-2033)

• Automotive
• Food & Beverages
• Manufacturing
• Healthcare
• Retail & E-commerce
• Others

By Region Outlook (Sales, USD Million, 2019-2033)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Italy
  • France
  • UK
  • Spain
  • Poland
  • Russia
  • The Netherlands
  • Norway
  • Czech Republic
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Malaysia
  • Thailand
  • Singapore
  • Australia & New Zealand
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Colombia
  • Rest of South America
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Northern Africa
  • Rest of MEA

Asia Pacific accounted for the largest market share by Region

Based on the regions, the global sea freight forwarding market has been segmented across Europe, North America, the Middle East & Africa, Asia-Pacific, and South America. Asia Pacific accounted for the largest market share in 2022. This is primarily due to the region's large population, growing middle class, and increasing trade volumes. China is the largest market in the Asia-Pacific region, accounting for a significant share of the global sea freight forwarding market. The country's rapidly growing economy and expanding consumer base have driven demand for sea freight forwarding services. In addition to China, other countries in the Asia-Pacific region, such as Japan, South Korea, and India, have also experienced significant growth in their economies and trade volumes. These countries have become important trading partners for other regions, further driving demand for sea freight forwarding services.

Competitive Landscape: Global Sea Freight Forwarding Market

The sea freight forwarding market is a significant competitor and extremely cutthroat in the sector is using strategies including product launches, partnerships, acquisitions, agreements, and growth to enhance their market positions. Most sector businesses focus on increasing their operations worldwide and cultivating long-lasting partnerships.

Major key players in the global sea freight forwarding market are:

• Kuehne + Nagel International AG
• DHL Global Forwarding
• DSV Panalpina
• DB Schenker
• Expeditors International of Washington
• C.H. Robinson Worldwide
• Hellmann Worldwide Logistics
• Dimerco Express Group
• Bolloré Logistics
• CEVA Logistics
• Agility Logistics
• Nippon Express
• Yusen Logistics
• Geodis
• Sinotrans
• Kerry Logistics
• Ceva Logistics

Recent Development

• In April 2022, Deutsche Post DHL Group acquired JF Hillebrand Group AG. The merger combines the strengths of DHL Global Forwarding, Freight’s network with Hillebrand’s best-in-class solutions. This allows DHL to utilize the benefits for its customers fully.
• In February 2023, EV Cargo’s expanded its European network, enabling further development opportunities to strengthen its Netherlands market, specifically at Rotterdam, Europe’s largest sea freight gateway.
• In February 2022, A.P. Moller - Maersk acquired Pilot Freight Services (Pilot), a U.S.-based first, middle, and last mile and border crossing solutions provider, specializing in the big and bulky freight segment in North America for B2C and B2B distribution models, from ATL Partners.