The Philippines Freight Forwarding Industry is Highly Fragmented with the Presence of both Domestic and International Players: Ken Research

The report titled “Philippines Freight Forwarding Market Outlook to 2023 – By Land, Water and Air Transport; By International and Domestic Freight; By Flow Corridors; By Third Party Logistics; By Express Delivery” by Ken Research suggested a growth at a noteworthy six year CAGR of 8.6% in terms of revenue in Philippines freight forwarding market in next 5 years till the year ending 2023E.

The domestic companies were observed to manage their operations via in-house whereas the international MNCs always make alliances with international freight companies backed by extensive service network and brand image in the market.Increase in demand for transportation of goods from one place to another has accelerated the size of the freight forwarding market in the Philippines. The high export and import revenues have positively impacted the freight forwarding industry in the country. The industry has witnessed large number of players in this segment which has aided the market revenues of freight forwarding in Philippines including both domestic as well as international companies. These freight forwarding companies specialize in providing a full range of services such as tracking inland transportation, preparation of shipping and export documents, booking cargo space, negotiating freight charges, freight consolidation, cargo insurance, and filing of insurance claims. Expanding FMCG sector, retail sector, food and E-commerce industry has attributed towards the growth of freight forwarding industry in the country. Freight forwarders are specialized firms in the logistics chain and can be classified into ocean freight forwarders and air forwarders. In the initial stages of forwarding, freight forwarders provide clearing and forwarding services as an agent of the shipper. At the intermediate level, they make available services such as cargo consolidation, road haulage, and customs clearance. At the final stage, they can also provide door-to-door services as multimodal transport operators. Freight forwarders offer all or a limited range of services depending on their size, number of personnel, and number of branches.

Key Segments Covered

By Freight Movement