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Base Year
Historical Year
Forecast Year
South Korea Third-Party Logistics (3PL) Market Report Summary | Description | Value |
Base Year | USD Billion | 2023 |
Historical Period | USD Billion | 2018-2023 |
Forecast Period | USD Billion | 2024-2032 |
Market Size 2023 | USD Billion | 32.9 |
Market Size 2032 | USD Billion | 46.83 |
CAGR 2018-2023 | Percentage | XX% |
CAGR 2024-2032 | Percentage | 3.9% |
CAGR 2024-2032 - Market by Service | Value Added Logistics Services | 4.4% |
CAGR 2024-2032 - Market by Industry Vertical | Consumer and Retail | 4.6% |
2023 Market Share by Service | Warehousing and Distribution | 21.6% |
The rising integration of analytics in 3PL operations is one of the key trends boosting the South Korea third-party logistics (3PL) industry growth. These analytic capabilities are geared towards gathering critical insights to improve the operation and generate maximum client satisfaction. These insights can aid the 3PL providers in enhancing end-to-end visibility in their supply chain operations. Furthermore, several market players have implemented last-mile delivery options in their services to gain a competitive edge in the market.
The South Korea third-party logistics (3PL) market dynamics and trends are driving various providers to adopt sustainable practices in their supply chains to appeal to environmentally conscious shippers. For instance, practices such as route optimisation can determine the shortest delivery route and reduce the carbon footprint, and the usage of alternative fuel options as well as electric vehicles can minimise the overall emission.
The rapid rise in e-commerce, globalisation, and growing demand for cost-saving logistics solutions are some of the major factors boosting the market growth. Several businesses are harnessing third-party services for the efficient handling of large inventories, offering timely deliveries and handling operations during peak periods, saving them resources and time. These companies are increasingly depending on third-party logistics providers for help with cross-border logistics documentation and customs clearance, which is driving the South Korea third-party logistics (3PL) market demand.
Moreover, third-party logistics often invest in high-end technologies and infrastructure and offer superior service at a lower price compared to companies that are sourcing their logistics business. This approach enables companies to concentrate on their core competencies rather than spending time on non-essential functions like logistics, thereby fuelling the South Korea third-party logistics (3PL) demand growth.
According to industry reports, in South Korea, online retail constituted 18.4% of total retail sales in 2017, with offline sales making up 81.6%. By 2021, the share of online sales had risen significantly to 29.6%, indicating a shift towards e-commerce and a decline in offline sales to 70.4%. In 2022, online sales were at 25.9%, while offline sales were at 74.1%. For 2023, online retail accounted for 24.9% of sales, with offline sales at 75.1%. The trend is anticipated to stabilise in 2024, with online sales at 24.8% and offline sales remaining steady at 75.2%. This balance is expected to boost the South Korea third-party logistics (3PL) market revenue, as the rise in online sales necessitates efficient logistics and supply chain management to manage higher order volumes and ensure prompt delivery.
According to World Bank Data, South Korea's health expenditure was 8.2% of GDP in 2019. This figure rose slightly to about 8.4% in 2020. The most notable rise occurred between 2020 and 2021, with health expenditure soaring to 9.33% of GDP. This increase has driven the growth in the South Korea third-party logistics (3PL) industry revenue by supporting the healthcare sector in managing the intricate logistics of medical supplies, pharmaceuticals, and equipment.
2023 Market Share by | Service |
Dedicated Contract Carriage (DCC)/Freight Forwarding | XX% |
Domestic Transportation Management | XX% |
International Transportation Management | XX% |
Warehousing and Distribution | 22% |
Value Added Logistics Services | XX% |
Deutsche Post AG
Nippon Express Co., Ltd.
United Parcel Service of America, Inc.
C.H. Robinson Worldwide, Inc.
“South Korea Third-Party Logistics (3PL) Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Service
CAGR 2024-2032 - Market by | Service |
Value Added Logistics Services | 4.4% |
Warehousing and Distribution | 4.2% |
Dedicated Contract Carriage (DCC)/Freight Forwarding | XX% |
Domestic Transportation Management | XX% |
International Transportation Management | XX% |
Market Breakup by Industry Vertical
CAGR 2024-2032 - Market by | Industry Vertical |
Consumer and Retail | 4.6% |
Automotive | 4.3% |
Food and Beverage | XX% |
IT Hardware and Telecom | XX% |
Healthcare | XX% |
Others | XX% |
In the South Korea third-party Logistics (3PL) market, the domestic transportation management (DTM) segment holds a significant share. DTM services, often combined with freight brokers, manage shipments from origin to destination.
The segment's growth is driven by higher fuel surcharges, increasing carrier costs, more cross-docking services, and greater trade movement between unloading docks and warehouses. Additionally, rising consumer demand in sectors such as healthcare and retail, along with steady GDP growth in South Korea, is further propelling the growth of the South Korea third-party Logistics (3PL) industry.
The companies provide diverse services like parcel delivery, freight forwarding, and supply chain management.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the market reached an approximate value of USD 32.9 billion.
The market is projected to grow at a CAGR of 3.90% between 2024 and 2032.
The market is estimated to witness healthy growth during 2024-2032 to reach around USD 46.83 billion by 2032.
The market is being driven due to rapid rise in e-commerce, globalisation, and growing demand for cost-saving logistics solutions.
The key trends aiding the market include investing in high-end technologies and infrastructure, rising integration of analytics in 3PL operations, and incorporation of sustainable practices.
The market is broken down into dedicated contract carriage (DCC) and freight forwarding, domestic and international transportation management, warehousing and distribution, and value-added logistics services.
Based on the industry vertical, the market is divided into food and beverage, automotive, consumer and retail, it hardware and telecom, healthcare, energy, and others.
The competitive landscape consists of Deutsche Post AG, Nippon Express Co., Ltd., United Parcel Service of America, Inc., C.H. Robinson Worldwide, Inc., Yusen Logistics Co., Ltd., FedEx Corp., Schenker AG, DSV A/S, CJ Logistics Corporation, LX Pantos Co., Ltd., and Jupiter Express Co., among others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Service |
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Breakup by Industry Vertical |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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