Vietnam Contract Logistics Market revenues is projected to grow at a CAGR of 7.4% respectively during 2024-30F

Wholesale And Retail Trade sector by End-User held the highest revenue share in Vietnam Contract Logistics Market -6Wresearch

In 2023, wholesale and retail trade have the highest revenue share due to booming e-commerce sector, rising consumer demand, and urbanization. The growing middle class and increased disposable incomes drive consumption, creating a need for efficient logistics. Retailers are adopting omnichannel strategies, requiring advanced supply chain solutions. Vietnam’s role as a trade hub also boosts demand for logistics services for both imports and exports. Seasonal demand fluctuations and complex inventory management further fuel logistics needs. International brands expanding in Vietnam rely on third-party logistics for distribution. Technological advancements in warehousing and supply chain management enhance efficiency. All these factors contribute to the highest revenue share for wholesale and retail trade in the logistics market.

According to 6Wresearch, Vietnam Contract Logistics Market revenues is projected to grow at a CAGR of 7.4% respectively during 2024-30F. Vietnam Contract Logistics market is expected to continue its upward trajectory driven by the Vietnam's government active investing in enhancing logistics capabilities, particularly under the 2021-2030 National Logistics Development Strategy, which aims to improve the overall efficiency of logistics operations. By 2025, Vietnam plans to increase the logistics sector's contribution to GDP to 8-10%, with significant investments directed towards modernizing transport infrastructure, digitizing supply chain management, and developing warehousing capabilities. The government is also focusing on the improvement of the transportation networks, especially road and port infrastructure, which is expected to reduce logistics costs in the country by 10-15% by 2030. This improvement is likely to drive increased investments and boost profitability in the industry.

Furthermore, the Vietnamese government has introduced several policies to facilitate the growth of the logistics sector, including reducing bureaucratic hurdles, simplifying customs procedures, and improving trade facilitation processes. These efforts, combined with the growth of regional trade agreements like the Regional Comprehensive Economic Partnership) (RCEP) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), are expected to further boost the demand for advanced contract logistics services in the country.

According to Parth, Senior Research Analyst, 6Wresearch, the Southern region of Vietnam leads the contract logistics market due to the country economic centre, with Ho Chi Minh City driving industry and exports. It has important infrastructure like Saigon Port, Tan Son Nhat Airport, and major highways, which make logistics more efficient. The area also attracts foreign investments, particularly in manufacturing. Additionally, rapid urban growth, the rise of e-commerce, and modern logistics technologies all boost the region's share of the market.

Vietnam Contract Logistics Market (2024-2030) report provides an in-depth analysis with 13 figures and 3 tables, covered in 71 pages. The report thoroughly covers market by region and by end-user.. Vietnam Contract Logistics Market outlook report provides an unbiased and detailed analysis of the on-going Vietnam Contract Logistics Market trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.