APAC Contract Logistics Market Size (2024 - 2029)

APAC Contract Logistics Market Analysis

The APAC Contract Logistics Market size is estimated at USD 259.64 billion in 2024, and is expected to reach USD 335.32 billion by 2029, growing at a CAGR of 5.25% during the forecast period (2024-2029).

The region's ability to weather the storm of economic instability strengthens its position as a preferred destination for investors and companies looking for more stability. Enhancing regional economic integration and providing access to a larger market, the ASEAN-led Regional Comprehensive Economic Partnership Agreement, taking effect in January 2022, would help the ASEAN countries recover from the recent epidemic while spurring economic growth.

Asia-Pacific is the area that is gaining ground the fastest in this market due to its quick economic development and thriving business climate. Asia-Pacific has eclipsed Europe to take the top spot in the global market for contract logistics. The region's growth is fueled by robust economic expansion, rising retail enactment, and increasing disposable income.

For the seventh year in a row, China held the title of largest logistics market in the world in 2022, generating a revenue of CNY 12.7 trillion (about USD 1.83 trillion) from the country's logistics industry. The country's infrastructure is being developed with significant funding from the Chinese government. China will soon become the global leader in the logistics and transportation sectors thanks to the Belt and Road Initiative's execution: 5.2% and 5.3% of the region's GDP growth in emerging Asia in 2022 and 2023, respectively.

However, the rate of recovery differs amongst subregions. However, domestic demand in economies is still catching up to their pre-pandemic trend, particularly in South Asia, which supports regional growth. Growth in South Asia remained robust in 2022 at 7.0% before soaring to 7.4% in 2023. The growth rates in East Asia are normalized at 4.5% in 2023.

APAC Contract Logistics Industry Segmentation

Contract logistics refers to a long-term partnership that includes a variety of services, from the transportation of goods or replacement parts to the delivery of goods to the final client. The service offerings of contract logistics include the following: warehouses, personnel, appropriate equipment, stock management, dispatch follow-up, and after-sales service, among others. A complete background analysis of the African cold chain logistics market, including the assessment of the economy and contribution of sectors in the economy, market overview, market size estimation for key segments, and emerging trends in the market segments, market dynamics, and geographical trends, and COVID-19 impact, is covered in the report.

The Asia-Pacific (APAC) contract logistics market is segmented by type (outsourced and insourced), end user (manufacturing & automotive, consumer goods & retail, high-tech, healthcare & pharmaceuticals, and other end users), and country (China, India, Japan, South Korea, Australia, Singapore, Malaysia, Indonesia, Thailand, and Rest of Asia-Pacific). The report offers market size and forecasts for all the above segments in value (USD).