Volatile growth forecasts for the Global Freight Forwarding market: New Ti data projects the market will contract 2.4% in real terms in 2022, before growing 0.7% in 2023.
Though the high freight rates at the beginning of 2022 have fallen away sharply, the market is still expected to grow by 27.6% in nominal terms for the full year 2022. This contrasts with the real terms contraction of 2.4%, which reflects falling volumes as demand slumps under the burden of inflation.
As transport prices return to relative stability in 2023, and the worst effects of inflation draw down, the market is expected to rebalance and recover with slow growth in 2023. However pessimism on the market’s long term growth prospects remains.
Download Ti’s latest whitepaper for a breakdown of our brand new 2022 and 2023 freight forwarding forecast data, with analysis of air and sea freight projections, and regional performance. The paper also addresses the economic headwinds impacting market growth.
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