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Canada 3PL Market Report Study with CAGR Growth 9.2% by 2027| Allied Market Research

09-21-2021 08:54 AM CET | Logistics & Transport

Press release from: Allied Market Research

Canada 3PL Market

Canada 3PL Market

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%.

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https://www.alliedmarketresearch.com/canada-3pl-market-A10571

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.

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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.

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Key Findings Of The Study

By type, the beauty & cosmetics segment is expected to register significant growth during the forecast period. The health & nutrition segment is projected to lead the global market, in terms of 3PL market share, by the end of forecast period.
Depending on mode of transportation, the airways segment is expected to register significant CAGR during the forecast period.
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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About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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