Freight Packing & Logistics Services in the US - Industry Market Research Report

Out for Delivery: Total Trade Value and E-Commerce Sales Will Continue to Grow

Freight packing and logistics revenue has grown steadily as trade and freight volumes of goods transported in bulk increased. While rising consumer spending contributed to greater industrial production and global trade, steady economic growth was interrupted in early 2020 following the pandemic. Quarantine measures to curb the spread of COVID-19 contributed to sharply declining global industrial and manufacturing activity, constraining demand for packing services. Even so, sharply increasing e-commerce sales enabled revenue to shoot up by the year's end. Freight packing and logistics services revenue has swelled at a CAGR of 7.8% to $6.0 billion through the end of 2023, including a 3.0% increase in 2023 alone. This industry’s main activity is providing packing and crating services for the transportation sector. The industry is composed of companies that provide consolidation of freight consignments, trade document preparation, packing, crating and otherwise preparing goods for transportation and logistics consulting services. The industry does not include actual transportation of goods. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.