ÌÇÐÄvlog´«Ã½

Bangladesh Freight & Logistics Market Analysis

The size of the Bangladesh Freight and Logistics market is USD 28.7 billion in the current year and is anticipated to register a CAGR of over 6.5% during the forecast period.

• The economy of Bangladesh is supported invisibly by the freight forwarding industry. The entire supply chain management would be like a car without an engine in the freight and logistics industry. As per recent research, effective logistics could boost Bangladesh's exports by 20%, according to a session on logistic discourse held by the American Chamber of Commerce in Bangladesh (AmCham). Currently, more than 1,100 BAFFA members help the country's exports to and imports from abroad.
• The nation's foreign trade will top USD 100 billion before it graduates as an LDC (Least Developed Country). Around the world, container ports solely function as terminal operators, not as storage and delivery yards. Contrarily, due to a large number of trucks and laborers entering the port each day, Chattogram and Mongla took on the duty of keeping import containers and facilitating distribution from within the port, which resulted in congestion and a security risk. Since all exports are now kept in Inland Container Depots (ICD) outside the port, Chattogram port congestion has been somewhat reduced.
• In Bangladesh, one of the industries that are expanding quickly is logistics. The e-commerce industry now has more opportunities because of its rapid expansion. This reality has been strengthened over the past few years as several logistics companies have raised substantial sums of money. The most recent round of funding for Paperfly came from Indian Ecom Express and totaled USD 12 million.
• Other significant local players in the sector include Delivery Tiger, eCourier, Pathao Courier, and ShopUp's REDx. We are witnessing completely new growth this year. Lalamove and Delhivery, two international logistics companies, have entered Bangladesh.
• The Bangladesh Freight Forwarders Association (BAFFA) increased freight forwarding fees with effect from 1 September 2022. This represents a staggering 57% increase in freight forwarding fees and will place a greater burden on Bangladeshi firms. According to sources in the industry, this decision, which BAFFA made in response to the recent increase in gasoline prices, has been a major setback for the nation's enterprises, particularly the garment industry, as it puts them in danger of losing market share due to an increase in production costs.

Bangladesh Freight & Logistics Market Trends

This section covers the major market trends shaping the Bangladesh Freight & Logistics Market according to our research experts:

Increased shipping and inland water freight transport is driving the market

Bangladesh Freight & Logistics Industry Segmentation

Freight management is defined as the process of controlling and executing a cost-effective procedure for goods delivery, while Logistics management can be defined as the comprehensive process of acquiring, storing, and transporting resources to their final destination.

A complete background analysis of the Bangladesh Freight and 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 included in the report. Bangladesh Freight and Logistics Market are segmented by Function (Freight Transport, Freight Forwarding, Warehousing, and Value-added Services and Other Functions) and by End User (Manufacturing and Automotive, Oil and Gas, Mining, and Quarrying, Agriculture, Fishing, Forestry, Construction, Distributive Trade, Healthcare and Pharmaceutical, and Others End Users (Chemicals, Telecommunications, etc.)). The report offers market size and forecasts for Bangladesh Freight & Logistics market in value (USD billion) for all the above segments.