Philippines Logistics Market Soars in 2022: Strategic Advantages and Booming Industries

MANILA, Philippines - July 24, 2023 - PRLog -- Strategic Position and Thriving Industries Boost Market Growth
In 2022, the logistics and warehousing market in the Philippines witnessed a remarkable year-on-year growth rate of ~14%. This growth was primarily driven by the country's advantageous geographic position, making it a strategic logistics hub connecting Southeast Asia. The thriving fast-moving consumer goods (FMCG), retail, food, and eCommerce industries further fueled this expansion, leading to a significant boost in the goods forwarding sector as well. The Philippine government played a crucial role in this positive trend by actively investing in and upgrading the nation's transportation infrastructure to support its vision of becoming a leading manufacturing hub in the Asia Pacific region.

Infrastructure Spending and International Logistics Opportunities
In 2022, the Philippines announced new infrastructure projects in transportation, energy, and water sectors, attracting collaborations with foreign firms in developing industries. The focus on infrastructure, like the PHP 11 Bn public-private partnership for upgrading Kennon Road, fueled logistics and freight forwarding market growth. Despite ranking 13th globally in logistics opportunities, the country holds untapped potential with increasing investments and trade-intensive services.

E-commerce Boom and Evolving Freight Transport Landscape
Online shopping's rise drove demand for efficient delivery services, expanding last-mile logistics and advanced tracking. The Philippines' eCommerce boom, supported by increased e-payment transactions, fueled substantial growth in the logistics sector. While road freight remains dominant, sea freight's prominence increased to a quarter of total transport. Air freight also saw growth. Modernizing North Harbor played a vital role in enhancing domestic commerce.

Warehouse Investments and Cold Chain Market Growth
Warehouses have become one of the prominent long-term investments in the Philippines. The shift to online platforms by local businesses has increased storage needs for product inventory, leading to an upswing in demand for distribution centers, storage facilities, and warehouses. Additionally, the cold chain market has witnessed extensive growth due to increasing domestic consumption of meat and seafood, government investments, and rising food imports.

In conclusion, the Philippines' logistics and warehousing market experienced significant growth in 2022, driven by strategic advantages, government investments, and a booming eCommerce industry. With increasing international logistics opportunities and investments in modern infrastructure and warehousing, the country is well-positioned to become a key player in the region's logistics landscape.

Report Summary To Know More:-
Philippines Logistics and Warehousing Market and Forecast (2018-2028) – Focus on Freight Forwarding, Warehousing, Cold Chain, Express Logistics and 3PL (https://www.makreo.com/report/philippines-logistics-and-w...)

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