Find out how the UK and Ireland’s 3PL market has grown over the years with some of the most important UK and Ireland 3PL market size statistics
The 3PL market is the UK and Ireland is growing at a rapid pace. Businesses from every sector and industry are realizing the importance and benefits of working with a 3PL for their warehousing and fulfillment needs. It is no secret that the 3PL market will continue to grow even more in the coming years.
Understanding how much the UK and Ireland 3PL market size has expanded over the past years and what the future forecast is can also be helpful for businesses. Looking at the statistics can provide you with a better understanding of the market and the significant growth over the years. The statistics also show how businesses are much more comfortable in outsourcing their fulfillment to 3PLs now, making it a booming industry.
There is no doubt that 3PLs have helped countless businesses over the years and will continue to do so in the coming years as well. With the help of a 3PL, you can reduce the burden of fulfillment from your business and focus on other aspects. You have more time and resources to develop even better marketing and sales strategies, helping you take your business to new heights.
With all of this mind, let’s dive in and find out more about the UK and Ireland 3PL market size through statistics and data recorded over a period of time!
When it comes to 3PLs, businesses all over the world have benefited from their services significantly. With the help of a 3PL, you can save money and reduce your expenses. When you outsource to a 3PL, you don’t have to worry about paying for your own warehouse, building your fulfillment infrastructure, or hiring new staff to carry out the fulfillment processes. This is why the global 3PL market is growing at a rapid pace and showing no signs of slowing down any time soon.
3PL is a market that has grown significantly all across the world in the past few years. Businesses are more keen on outsourcing their logistics and fulfillment operations to 3PLs, which is why the global 3PL market has seen such a boost in revenue and market value. All across the world, businesses now acknowledge that a 3PL can help them reduce their expenses and create a more satisfactory experience for their customers, which is why the global 3PL market is not slowing down and expanding with each passing year.
According to reports and forecasts, the global 3PL market is set to grow even more in the coming years, with the market value reaching USD 1813.44 billion by 2029. The CAGR is predicted to be 8.26%, which is also very high. Businesses all across the globe are feeling more and more comfortable with outsourcing their logistics and fulfillment processes to 3PLs, which is why we are seeing such significant growth for the global 3PL market.
Another statistic that proves how well the 3PL industry is doing globally is how almost 80% of 3PLs have made a profit in the last year. The 3PLs that have made a profit is significantly higher than the amount of 3PLs that have not, showing us once again that 3PLs are gaining more importance for businesses and are growing at a rapid pace. If you run a 3PL business, you are more likely to become profitable and generate high revenue.
When we look at 3PLs globally, Asia Pacific countries have been generating the highest revenue for the global 3PL market. The United States is second when it comes to revenue generated for the global 3PL market. Both these 3PL markets are huge contributors for the global 3PL sector, and businesses all across the world seek out 3PLs from Asia Pacific and the United States to use and team up with.
Logistics is a massive industry globally. 3PLs play a huge part in this sector. Businesses from all over the world outsource their logistics to top 3PL companies, helping the 3PL market grow with each passing year. There is no doubt that the global logistics market value is very high, with Statista reporting the numbers to be around 8.6 trillion USD.
Another statistic that shows us how the global 3PL market is growing at a rapid pace and will reach 2,144 billion USD by the end of the coming decade. 3PLs are the backbone of businesses, especially in the ecommerce industry.
When it comes to the 3PL market, transport is the sector that is most valuable. The roadways segment holds the highest share in the 3PL market globally, followed by seaways and railways. Without the transport sector, the 3PL market would not be where it is today.
When it comes to the 3PL market, there are many industry leaders and companies that have made a significant mark in the sector. DHL is one of the top companies in the 3PL market globally, bringing in a record revenue of 30 billion USD in 2021. No other 3PL provider has recorded more than 30 billion USD revenue at any point, making DHL the undisputed leader of the global 3PL market.
There was a time when less than 45% of fortune 500 companies trusted 3PLs with their logistics and fulfillment operations. None of these companies felt comfortable outsourcing to 3PLs, however, times have changed a lot. Now, more than 90% of fortune 500 companies use 3PLs for their business, increasing the 3PL market value and revenue globally. These fortune 500 companies have also realized the importance of 3PLs and the countless benefits they can get out of using a 3PL for their business.
Another statistic that shows how 3PLs are continuously growing every year with 85% of 3PLS experiencing a growth in their order volumes in 2021. As the order volume increases, it becomes more evident that more businesses are using 3PLs for the fulfillment of their orders.
The 3PL market in the UK has also grown along with the rest of the world. The revenue for the UK 3PL market size is estimated to be 19.2 billion GBP. Just like everywhere else in the world, the 3PL companies in the UK have also seen a boost in business this year, coming back strongly from the fluctuation caused by Covid-19.
After the tough time brought on by Covid-19, the UK 3PL market is all set to recover and bounce back as shown by the end-of-year projections for 2022. The UK 3PL market size is predicted to increase by 5.2% by the end of the year.
Since 2017, the UK 3PL market size has grown each year by 1.8% on average. The 3PL market in the UK has been growing steadily, with more and more businesses outsourcing their logistics and fulfillment operations to 3PLs based in the UK.
A statistic that proves how much the UK 3PL market size has grown as the industry itself has grown faster than the overall economy of the UK.
If there is one other market in the UK that has grown faster than the 3PL market in the UK, it is the advisory and financial services sector. Both of these sectors have grown faster than the overall economy of the UK.
When it comes to the UK 3PL market, there are some factors that can have adverse effects on the growth. Factors such as high competition and ease of entry to the market can affect the 3PL market in the UK negatively. When there is high competition and low barriers to entry in the industry, more and more 3PLs will start popping up. The more 3PLs there are, the more divided the industry will become and other 3PL companies will start losing business as well.
In the coming years, the value of imports in the UK is expected to grow. This means there are even more opportunities for the UK 3PL market size to increase and expand. 3PLs that offer custom-bonded warehousing can also benefit from the increase in imports.
The UK 3PL market size and revenue was also affected because of the supply chain disruptions caused by Covid-19 in 2020-2021. Now that businesses have figured out how to control these disruptions, the UK 3PL market size is set to increase again.
In 2019, the UK 3PL market size was valued at 22.9 billion USD and because of Covid-19, the UK 3PL market size decreased in value to 22.6 billion USD in 2020.
According to reports and forecasts, the UK 3PL market is doing better than ever in 2022 and will continue to show a CAGR of more than 6% till 2025.
When it comes to the UK 3PL market, it is divided as there are a lot of local and international companies that are competing with each other and providing 3PL services for businesses in the UK.
Just like the UK 3PL market size, the Ireland 3PL market size also saw a decline of 8.5% in total revenue in 2020. This was also caused by the supply chain disruptions that were brought on by the Covid-19 pandemic.
Ireland is another country with a well-established 3PL market. The total Ireland 3PL market size is estimated to be around 867 million Euros.
The Ireland 3PL market size was affected adversely by Covid-19, just like the rest of the world. The 3PL market revenue in Ireland in 2020 was around 11.8%. This revenue was still higher than in a lot of other countries, proving that the 3PL sector in Ireland is growing and expanding a lot more than in many other places.
When you run a business, it is important to have a fulfillment strategy that is top-notch. One of the best ways to ensure that your fulfillment is carried out smoothly and effectively is by teaming up with a top 3PL. There is no doubt that your business can benefit immensely from a 3PL and if you are looking for one that would meet your business needs, you have come to the right place!
Here at Meteor Space, we give importance to your business requirements and provide you with a fulfillment strategy that is customized to fit you best. With our help, you can make sure that all your customers are always satisfied and there is nothing to complain about. We make sure all orders are delivered on time and are always accurate.
Not just exceptional shipping services, but Meteor Space also handles your inventory expertly, storing it at our state-of-the-art warehouse. We use advanced technology to automate most of our processes and keep all your supplies safe and secure.
Meteor Space also provides top-notch pick and pack fulfillment services, always double checking all orders and making sure they are accurate. You can also create an excellent shopping experience for your customers with the help of our custom packaging services and take advantage of our brilliant customer support services!
Sounds like the perfect match for your business?