Consumer Packaged Goods (CPGs) are high-volume commodities that are consumed on a regular basis. These are basic commodities that are quickly depleted, refilled on a regular basis, and sold at a low price. CPGs, as is the case, have a short shelf life. As a result, efficient and time-sensitive CPG logistics are essential. Consumer packaged goods (CPG) logistics encompasses all areas of consumer packaged goods management and transportation in order to ensure that goods arrive at retailers on time and in good condition. It covers a wide range of services, from collection to loading and unloading to actual transportation and delivery of CPGs
According to a market report published by Bizwit Research & Consulting, LLP, Global Consumer packaged goods logistics market is valued approximately USD 811.4 Million in 2020 and is anticipated to grow with a healthy growth rate of nearly 5.53% over the forecast period 2021-2027.
Rising demand for consumer goods, stringent government regulations towards packaging of consumer goods and increasing innovations and investments in the development of packaging &logistics are some of the factors that are expected to significantly contribute towards the growth of global Consumer packaged goods logistics market during the forecast period. In addition, Rising demand for food and beverage industry and increase in outsourcing of logistics services are expected to inject growth opportunities to the market. However, increasing trade regulations is expected to hamper the growth of global Consumer packaged goods logistics market during the forecast years.
The benefits of outsourcing the logistics services is that the customer does not need to invest in warehouses and spaces, systems and technologies, safety measures and employees. Outsourcing of logistic services therefore have become an important strategy which can significantly assist organizations for leveraging their resources and skills for achieving greater competitiveness. Outsourcing of logistics further help in reducing costs, improving operating efficiency and better services. According to Statista, in a global survey conducted among logistics and supply chain executives in July 2021, 63.5% of the total number of shippers were outsourcing their warehousing activities to third party logistics providers. Thus rising outsourcing of logistics services is expected to boost the market growth
Global Consumer Packaged Goods (CPG) Logistics Market Size study, by Type (Transportation, Warehousing, Value-Added Services) by Application (Food & Beverages Sector, Footwear and Apparel Sector, Tobacco Sector, Cleaning Products Sector, Others) and Regional Forecasts 2021-2027
The total market revenue is calculated on the basis of revenue generated through Logistics Solutions provided by companies such as warehousing and additional services. Major companies covered under the report includes APL Logistics, CEVA logistics, Ryder System, UPS, Expeditors, Schneider National, C.H. Robinson, Exel, Penske logistics, NYK Logistics, Menlo Worldwide (XPO Logistics), Nexus Distribution, Star Distribution Systems, Inc, DSV Global transport and logistics, Nippon Express, Deutsche Bahn, Fedex Corporation and other popular regional players across various countries are also considered for revenue calculation.
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