Global Sea Freight Forwarding Market Study Analysis: The global cross-border e-commerce market has grown

The fast-food market size was valued at $ billion in 2020 and is estimated to reach $ billion by 2028, growing at a CAGR of 3% during the forecast period. Sea Freight forwarding is the management and shipment of goods from one place to another via a single or multiple carrier through marine. Around 90% of goods are transported globally through Sea freight or ocean freight. Sea Freight forwarding is a motion in which an individual or company acts as an intermediary and dispatches shipment via common sea carriers and makes all arrangements for those shipments on behalf of its clients. The intermediary company is known as Sea Freight forwarders. These companies manage all the logistics needed and perform shipment-related activities. The transportation of goods by ship is one of the most cost-effective transport. Sea freight is also feasible to transport heavy and big shipments across the globe. Also, sea freight is the eco-friendliest mode of transportation. All these factors together are expected to fuel the Sea freight market growth.

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Global Sea Freight Forwarding Drivers And Restrain:
The major factors that have impacted the growth of the Sea Freight Forwarding market are increasing international trade volumes and growing e-commerce market which increased cross-border trade, among others.

Increasing international trade volumes:
The Freight forwarding market is expected to grow with the rise in international trade volumes. Furthermore, the increase in trade agreements between various countries is also expected to contribute to the growth of the market. According to the World Bank, there is a total export of $ 20,834,690,355.83 thousand and a total import of $18,875,211,882.52 thousand globally which accounts for a positive trade balance of $1,959,478,473.52 thousand. According to World Tradia, about 25% of world trade is through the sea route.

Growing E-commerce market:
The increasing internet penetration has led to a rise in the e-commerce market. The population of internet users has increased the global cross-border e-commerce trade which is expected to fuel the sea freight forwarding market. The countries such as China and the U.S. are contributing towards cross-border e-commerce sales. Sea freight forwarding has emerged as the preferred mode of transport of goods sold through e-commerce. The various industries associated with e-commerce trade have preferred this mode on top of the other modes. The several strategic partnerships between countries and industries are expected to boost the sea freight forwarding market.
The market is hampered by fluctuating prices of transportation.

Impact Of COVID-19 on the Sea Freight Forwarding Market:
• Impact on Market Size
• End-User Trend, Preferences, and Budget Impact
• Regulatory Framework/Government Policies
• Key Players Strategy to Tackle Negative Impact
• Opportunity Window

Global Sea Freight Forwarding Market Segments:
The global Sea Freight Forwarding market is further segmented into type, application, and geography.
By Type: Full Container Load and Less-than container load
By Application: Agricultural, Automotive, Beverage, Electronic, and Others

Key Region/ Countries Covered
• North America (US, Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Rest of Europe)
• Asia-Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
• Rest of the World (the Middle East & Africa and South America)

Europe is expected to have a prominent share in the sea freight forwarding market attributed to the growing trade volume in European trade routes. Moreover, increasing container port throughput and the rising number of FTAs in the region may boost market growth. The Asia Pacific is expected to witness higher growth in the sea freight forwarding market owing to increased imports and exports in emerging countries including India and China.

Key Players of Global Sea Freight Forwarding Market:
• Kuehne + Nagel
• DHL Group
• Sinotrans
• DB Schenker Logistics
• GEODIS and Panalpina
• C.H. Robinson
• CEVA Logistics
• CJ Logistics
• Expeditors International
• DSV

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Key Questioned Answered Through The Report:
• The Impact of COVID-19 on the global market
• What are the potential opportunities for new entrants in the global market
• What is the market Size and Forecast from 2020 to 2028?
• Key Players associated with the global Sea Freight Forwarding Market
• Value Chain Analysis of Global Sea Freight Forwarding Market
• What is the CAGR of the global Sea Freight Forwarding Market from 2021 to 2028
• Major Growth Factor, Challenges, Trends, and Opportunities in the global market
• Key outcomes of SWOT Analysis

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