South Korea Third Party Logistic Market Growth, Size, Trends, Share, Demand and Future Outlook
South Korea Third Party Logistic (3PL) Market Size- By Service, By Distributive trade, By End User- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Jul-2024 | Report ID: AMIN24175 | Pages: 1 - 109 | Formats*: |
| Category : Automotive & Transportation | |||
South Korea Third Party Logistic Market Introduction and Overview
According to SPER Market Research, the South Korea Third Party Logistic Market is estimated to reach USD 41.23 billion by 2033 with a CAGR of 4.26%.
The report includes an in-depth analysis of the South Korea Third Party Logistic Market, including market size and trends, product mix, applications, and supplier analysis. The third-party logistics (3PL) industry entails contracting with outside service providers to handle supply chain management and logistical tasks. These businesses provide a variety of services, such as freight forwarding, packaging, inventory control, warehousing, and transportation. Businesses can lower expenses, increase efficiency, and concentrate on their core competencies by utilizing 3PL services. The 3PL market in South Korea is propelled by the nation's sophisticated technology, strong infrastructure, and advantageous location as a hub for international trade. Prominent third-party logistics companies, such as CJ Logistics, Hyundai Glovis, and Samsung SDS, are essential in streamlining supply chains for many sectors, boosting operational flexibility and competitiveness.
- November 2022: Gymshark and DSV agreed into a strategic alliance so that Gymshark could satisfy the demands of its customers, complex supply chain requirements, and expanding international sales. Gymshark, a British fitness community and apparel brand, has designated DSV as an official logistics and transport partner. DSV will be instrumental in helping the firm achieve its ambitious expansion plan. In this role, DSV will offer Gymshark's fitness gear, clothes, and accessories worldwide multimodal transportation options.
- August 2022: Daewoo Logistics opened a container yard that can handle 3,580 TEU per day and serves Busan New Port. The yard opened on August 24. South Gyeongsam province's Jinhae district in Changwon is home to the 45,608-square-meter complex. Northeast Asia's centre for logistics is the Busan-Jinhae Economic Free Economic Zone.
Market Opportunities and Challenges
In the third-party logistics (3PL) space, "market opportunity" refers to the possibility of expanding and making money by filling gaps in the supply chain and logistics sector. Opportunities are created in South Korea by the growth of e-commerce, which calls for effective and quick delivery services. AI and IoT are examples of technological innovations that can improve logistics operations and present 3PL businesses with opportunities to provide creative solutions. Furthermore, the growth of international trade and free trade agreements create new opportunities for 3PL providers to meet the needs of international logistics networks and establish themselves as essential players in global supply chains.
The barriers that businesses have in providing effective and affordable logistics solutions are referred to as market hurdles in the third-party logistics (3PL) industry. Managing the complexity of supply chains in the face of growing globalization and the requirement for real-time tracking and visibility are issues faced by South Korea. Furthermore, complex customs and regulatory processes might make cross-border logistics more difficult. Resources may be strained due to the constant need to invest in new systems and training due to the rapid improvements in technology. For 3PL providers, there are additional substantial obstacles in maintaining high service standards while maintaining cost effectiveness and being able to adjust to changing market conditions and demand.
Market Competitive Landscape
The competitive landscape of the third-party logistics (3PL) market is marked by numerous players vying for market share. Companies compete based on their service offerings, geographic reach, and ability to provide tailored logistics solutions. Market dynamics are shaped by a mix of large, established firms and agile new entrants striving to capture a share of the growing demand. The major players in the market are CJ Logistics, DHL Korea, Hanjin Transportation, Hyundai Glovis, Kerry Logistics, Korea Express, Kuehne & Nagel Korea, LG CNS, Pantos Logistics, Samsung SDS, Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Service, By Distributive trade, By End-User |
| Regions covered | Seoul Metropolitan Areas (Seoul-Incheon-Gyeonggi), Busan, Daegu-Gyeongbuk Region, Gwangju-Jeolla Region, Daejeon-Chungcheong Region, Gangwon Province, Rest of South Korea |
| Companies Covered | CJ Logistics, DHL Korea, Hanjin Transportation, Hyundai Glovis, Kerry Logistics, Korea Express, Kuehne & Nagel Korea, LG CNS, Pantos Logistics, Samsung SDS, Others. |
COVID-19 Impact on South Korea Third Party Logistic Market
COVID-19 significantly impacted the third-party logistics (3PL) market by disrupting global supply chains and highlighting the importance of resilience and flexibility. The pandemic caused severe delays and interruptions in transportation and warehousing due to lockdowns, travel restrictions, and reduced workforce availability. Companies faced challenges in maintaining inventory levels and meeting fluctuating demand. In response, 3PL providers accelerated the adoption of digital technologies and diversified their service offerings to manage disruptions and improve supply chain visibility, which has since become a key focus in the industry.
Key Target Audience:
- Retailers
- Manufacturer
- E-commerce Companies
- Importers and Exporters
- Automotive Companies
- Pharmaceuticals and Healthcare Providers
- Consumer Goods Companies
Our in-depth analysis of the South Korea Third Party Logistic Market includes the following segments:
| By Service: |
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| By Distributive Trade: |
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| By End-Users: |
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Key Topics Covered in the Report:
- South Korea Third Party Logistic Market Size (FY’2024-FY’2033)
- Overview of South Korea Third Party Logistic Market
- Segmentation of South Korea Third Party Logistic Market By Service (Domestic Transportation Management, International Transportation Management, Value-Added Warehousing and Distribution)
- Segmentation of South Korea Third Party Logistic Market By Distributive Trade (Wholesale, Retail Trade, E-Commerce)
- Segmentation of South Korea Third Party Logistic Market By End Users (Manufacturing and Automotive Oil & Gas and Chemicals)
- Statistical Snap of South Korea Third Party Logistic Market
- Expansion Analysis of South Korea Third Party Logistic Market
- Problems and Obstacles in South Korea Third Party Logistic Market
- Competitive Landscape in the South Korea Third Party Logistic Market
- Impact of COVID-19 and Demonetization on South Korea Third Party Logistic Market
- Details on Current Investment in South Korea Third Party Logistic Market
- Competitive Analysis of South Korea Third Party Logistic Market
- Prominent Players in the South Korea Third Party Logistic Market
- SWOT Analysis of South Korea Third Party Logistic Market
- South Korea Third Party Logistic Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
4.2. COVID-19 Impacts of the South Korea Third Party Logistic Market.
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. South Korea Third Party Logistic Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in South Korea Third Party Logistic Market
7. South Korea Third Party Logistic Market, By Service (USD Million) 2020-2033
7.1. South Korea Third Party Logistic Market Size, Share and Forecast, By Service, 2020-20267.2. South Korea Third Party Logistic Market Size, Share and Forecast, By Service, 2027-20337.3. Domestic Transportation Management7.4. International Transportation Management7.5. Value-Added Warehousing and Distribution
8. South Korea Third Party Logistic Market, By Distributive Trade (USD Million) 2020-2033
8.1. South Korea Third Party Logistic Market Size, Share and Forecast, By Distributive Trade, 2020-20268.2. South Korea Third Party Logistic Market Size, Share and Forecast, By Distributive Trade, 2027-20338.3. Wholesale8.4. Retail Trade8.5. E-Commerce
9. South Korea Third Party Logistic Market, By End-Users (USD Million) 2020-2033
9.1. South Korea Third Party Logistic Market Size, Share and Forecast, By End-Users, 2020-20269.2. South Korea Third Party Logistic Market Size, Share and Forecast, By End-Users, 2027-20339.3. Manufacturing and Automotive9.4. Oil & Gas and Chemicals
10. South Korea Third Party Logistic Market Forecast, 2020-2033 (USD Million)
10.1. South Korea Third Party Logistic Market Size and Market Share
11. South Korea Third Party Logistic Market, By Region, 2020-2033 (USD Million)
11.1. South Korea Third Party Logistic Market Size and Market Share By Region (2020-2026)11.2. South Korea Third Party Logistic Market Size and Market Share By Region (2027-2033)
11.2.1. Seoul Metropolitan Areas (Seoul-Incheon-Gyeonggi)11.2.2. Busan11.2.3. Daegu-Gyeongbuk Region11.2.4. Gwangju-Jeolla Region11.2.5. Daejeon-Chungcheong Region11.2.6. Gangwon Province11.2.7. Rest of South Korea
12. Company Profile
12.1. CJ Logistics
12.1.1. Company details12.1.2. Financial outlook12.1.3. Product summary12.1.4. Recent developments
12.2. DHL Korea
12.2.1. Company details12.2.2. Financial outlook12.2.3. Product summary12.2.4. Recent developments
12.3. Hanjin Transportation
12.3.1. Company details12.3.2. Financial outlook12.3.3. Product summary12.3.4. Recent developments
12.4. Hyundai Glovis
12.4.1. Company details12.4.2. Financial outlook12.4.3. Product summary12.4.4. Recent developments
12.5. Kerry Logistics
12.5.1. Company details12.5.2. Financial outlook12.5.3. Product summary12.5.4. Recent developments
12.6. Korea Express
12.6.1. Company details12.6.2. Financial outlook12.6.3. Product summary12.6.4. Recent developments
12.7. Kuehne & Nagel Korea
12.7.1. Company details12.7.2. Financial outlook12.7.3. Product summary12.7.4. Recent developments
12.8. LG CNS
12.8.1. Company details12.8.2. Financial outlook12.8.3. Product summary12.8.4. Recent developments
12.9. Pantos Logistics
12.9.1. Company details12.9.2. Financial outlook12.9.3. Product summary12.9.4. Recent developments
12.10. Samsung SDS
12.10.1. Company details12.10.2. Financial outlook12.10.3. Product summary12.10.4. Recent developments
12.11. Others
13. Conclusion
14. List of Abbreviations
15. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
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South Korea Third Party Logistic Market size is USD 41.23 billion from 2024 to 2033.
South Korea Third Party Logistic Market is covered By Service, By Distributive trade, By End-User.
The Asia-Pacific is anticipated to have the highest Market share in the South Korea Third Party Logistic Market.
The key players in the Market include Companies Covered CJ Logistics, DHL Korea, Hanjin Transportation, Hyundai Glovis, Kerry Logistics, Korea Express, Kuehne & Nagel Korea, LG CNS, Pantos Logistics, Samsung SDS, Others.
The third-party logistics (3PL) industry entails contracting with outside service providers to handle supply chain management and logistical tasks.
South Korea Third Party Logistic Market is projected to reach USD 41.23 billion by 2033, growing at a CAGR of 4.26% during the forecast period.
South Korea Third Party Logistic Market grew in Market size from 2024. The Market is expected to reach USD 41.23 billion by 2033, at a CAGR of 4.26% during the forecast period.
South Korea Third Party Logistic Market CAGR of 4.26% during the forecast period.
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