Report Code : A10571
By type, the health & nutrition segment dominated the global market in 2019, in terms of revenue. However, the beauty & cosmetics segment is expected to lead the market during the forecast period. Depending on mode of transportation, the roadways segment incurs a higher share and is expected to maintain its dominance over the forecast period. The airways segment is anticipated to lead the market growth during the forecast period
Omkar Bachal
Lead Analyst, Automotive and Transportation at Allied Market Research
According to a recent report published by Allied Market Research, titled, “3PL Market by Type and Mode of Transportation: Canada Opportunity Analysis and Industry Forecast, 2020–2027,”
The Canada 3PL market was valued at $1.58 billion in 2019, and is projected to reach $3.01 billion by 2027, registering a CAGR of 9.0%.
3PL is an outsourced activity related to the management of flow of goods in a company’s supply chain and delivery of products from manufacturer to the consumer on time. These services go beyond logistics and include value-addition to the entire process from procurement of goods to the distribution of furnished products to the customers establishing an effective & efficient supply chain. By mode of transportation, the airways and railways segments are expected to witness significant CAGRs of 11.1% and 10.4%, respectively, during the forecast period. The cumulative share of these two segments was 29.1% in 2019, and is anticipated to reach 32.5% by 2027.
Growing urbanization, changing outlook of domestic & international trade activities, and rising trend of outsourcing transportation services are expected to spur the demand for third-party logistics services in the Canada market. Canada is one of the leading consumers for third-party logistics in the global market. Focus on core competencies as the priority move for manufacturers or retailers is anticipated to support 3PL activities. The Canada 3PL market is highly fragmented as several market participants are operating across Canada and majority of the market participants from Canada are operating in the domestic market only. The health & nutrition and beauty & cosmetics segments are growth frontiers in the Canada 3PL market.
For the 3PL market, the year 2020 was a slow growth performing year, owing to the negative demand and supply outlook due to COVID-19 restrictions for end users, including manufacturers and suppliers of home decor products, health & nutrition products, beauty & cosmetics products, pet accessories & products, sport & recreation related products, and do it yourself (DIY) products.
Key Findings Of The Study
The key players profiled in the report are A.P. Moller-Maersk, Bollore Logistics, C.H. Robinson Worldwide, Inc., FedEx Corporation, Kintetsu World Express, Inc., Nippon Express, Penske Logistics, Inc., Purolator Inc., SCI Group, and United Parcel Service.
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Canada 3PL Market by Type (Home Decor, Health & Nutrition, Beauty & Cosmetics, Pet, Sport & Recreation, and Do It Yourself), and Mode of Transportation (Railways, Roadways, Waterways, and Airways): Opportunity Analysis and Industry Forecast, 2020–2027
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