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Freight Forwarding & Customs Agents Industry

This segment of the freight transport industry provides essential support services, including freight forwarding, customs brokerage, stock consolidation, and goods-handling operations. Between 2023 and 2028, the segment is expected to see revenue growth and an increase in profit margins.

£20B

Market Size

57,987

Industry Employment

50%

6 in 10 veterinarians have sought professional help for their mental health (The Guardian, 2022).

This segment provides support services to freight transport industries. These include freight forwarding, customs and freight brokerage, stock consolidation and goods-handling operations. The freight forwarding and customs agents segment does not provide passenger transport, tourism activities, courier services or transport insurance.

Industry Challenges

Inflationary pressures
New supply chains and regulations
International trade disruptions due to the Russian-Ukraine conflict
Driver shortage

(Ibis World, 2023; Fleet World, 2023)

During the forecast period 2023-2028, the segment’s revenue is forecast to expand while the average industry profit margin is set to rise. New trade deals and continued investment in technology to comply with new customs regulations implemented in the new EU-UK relationship are expected to support international trade and demand freight forwarding and customs agent services.

Industry Opportunities

Technology investment to improve driver experience and enhance business compliance
Drivers’ effective recruitment and retention
Private equity investment mobility
Vigorous M&A activity within the SMEs

(Fleet World, 2023; The Loadstar, 2023)