Fourth Party Logistics (4PL) Market : Innovator Model Type to Grow at CAGR 11.2% From 2021-2031

The fourth party logistics market was valued at $57.9 billion in 2021, and is estimated to reach $111.7 billion by 2031, growing at a CAGR of 6.7% from 2022 to 2031.

Prime determinants of growth

Increase in demand for easy & effective supply chain system, increase in the complexities in the operation process, and rise in demand for customized solutions propel the growth of the fourth party logistics market. However, reluctance of companies to outsource the logistics function and changes in logistics regulations in different countries are expected to hinder the growth of the market. On the other hand, increase in demand for consumer electronics and growth in the e-commerce market are anticipated to present new opportunities in the coming years.

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Covid-19 Scenario

The outbreak of the Covid-19 pandemic had a negative impact on the global fourth party logistics market, owing to implementation of the global lockdown and stringent import & export restrictions.
Important supply chains in the logistics and transportation industry were hampered, though differently across air, freight, and sea sectors. Logistics firms, which are involved in the movement, storage, and flow of goods, were directly affected by the COVID-19 pandemic.
Moreover, changes in consumers purchase behavior due to pandemic uncertainties could significantly impact the growth of the 4PL logistics market.

With the growing internet penetration and smartphone usage, an increasingly shift to online shopping was witnessed within the consumers during lockdown. This resulted in a large-scale shift in consumer behavior, preferences, and expectations when it came to shopping & shipment deliveries. Hence, the growth normalized from 2021 onwards and the market is projected to grow at a steady pace from 2021 to 2031.

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Asia-Pacific to maintain its dominance by 2031

Based on region, Asia-Pacific, followed by Europe & North America, held the highest market share in terms of revenue in 2021, accounting for more than two-fifths of the global fourth party logistics market. This is attributed to the booming e-commerce industry in emerging economies. In addition, increased adoption of outsourced logistics services in the region is driving the growth of the 4PL logistics market in Asia-Pacific. However, Europe is expected to witness the fastest CAGR of 8.4% from 2022 to 2031. This is due to the growth of e-commerce, retail sector, and manufacturing sector coupled with the digitalization of infrastructures in the European countries.

Leading Market Players :

4PL Group
4PL Insights
Allyn International Services, Inc.
C.H Robinson Worldwide, Ltd.
CEVA Logistics
DAMCO
DB Schenker
Deloitte
Deutsche Post AG
GEFCO Group
Global4PL Supply Chain Services
Logistics Plus Inc.
Panalpina World Transport
United Parcel Service, Inc.
XPO Logistics, Inc.

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