Report Overview

Vietnam Third Party Logistics (3PL) Market – Industry Trends & Forecast Report, 2030

Vietnam Third Party Logistics (3PL) Market size was estimated at USD 6.09 billion in 2023. During the forecast period between 2024 and 2030, Vietnam Third Party Logistics (3PL) Market size is projected to grow at a CAGR of 2.4% reaching a value of USD 7.19 billion by 2030. Prominent driver of the market includes Vietnam’s strong economic growth, fueled by the expansion of its manufacturing sector and the rapid rise of e-commerce. Government initiatives, such as Resolution No. 163/NQ-CP, and trade agreements like the ASEAN Economic Community (AEC) and the EU-Vietnam Free Trade Agreement (EVFTA), have created a favorable environment for logistics investments. Additionally, the increasing demand for last-mile delivery services, especially driven by the e-commerce boom, and the focus on multi-modal transport networks are shaping the future of the logistics industry. Cold chain logistics and green logistics initiatives are gaining momentum, with investments in technology and sustainability being key factors in addressing infrastructure challenges and enhancing overall efficiency.

Third Party Logistics (3PL) – Overview

Third Party Logistics (3PL) refers to outsourcing logistics services to external providers who manage various supply chain functions. These services typically include transportation, warehousing, inventory management, and order fulfillment. 3PL providers offer expertise and resources that help businesses streamline operations, reduce costs, and focus on core activities. By integrating logistics solutions, 3PL firms improve efficiency, delivery speed, and customer satisfaction. They also offer flexibility by managing complex logistics needs, such as international shipping and customs clearance. Overall, 3PL services play a vital role in enhancing supply chain performance for businesses across industries.

Vietnam Third Party Logistics (3PL) Market

Growth Drivers

Increasing Trading Activities

Vietnam's Third-Party Logistics (3PL) Market is experiencing rapid growth, driven by an increase in trading activities and expanded trade agreements like the ASEAN Economic Community (AEC), the EU-Vietnam Free Trade Agreement (EVFTA), and the Vietnam-Korea Free Trade Agreement (VKFTA). These agreements have strengthened cross-border trade, boosting demand for efficient logistics solutions. The growing manufacturing sector, along with the rise of the retail and e-commerce industries, has intensified the need for 3PL services, especially in areas like last-mile delivery and warehousing. Strategic investments in port infrastructure and the country’s extensive coastline further support maritime freight transport, crucial for international trade. Despite infrastructure limitations and competitive pressures, the logistics market is set for continued growth, with 3PL providers playing a key role in improving supply chain efficiency through digital transformation and integrated solutions.

Challenges

Higher Logistics Costs

Higher logistics costs could significantly restrain the growth of Vietnam Third-Party Logistics (3PL) Market. According to the Vietnam Logistics Business Association, logistics costs in Vietnam are much higher compared to the global average, accounting for 16.8% to 17% of GDP, while the global average is 10.6%. This disparity places Vietnam at a disadvantage in terms of cost efficiency, hindering the competitiveness of its logistics sector. Despite the industry's expansion, with a growing number of businesses and an increase in FDI projects, the high logistics costs continue to act as a barrier to further growth. This situation is exacerbated by the country's limited and unsynchronized logistics infrastructure, which further raises operational costs. These factors collectively restrain the development of Vietnam's 3PL market, impacting its potential for growth and reducing its competitiveness on an international scale.

Impact of Escalating Geopolitical Tensions on Vietnam Third Party Logistics (3PL) Market

Escalating geopolitical tensions among countries and spreading across regions could have a significant impact on the growth of Vietnam Third Party Logistics (3PL) Market. These tensions disrupt global supply chains, leading to increased shipping costs and delays. As trade routes become less predictable, companies may seek to diversify their logistics partners, which could affect Vietnam's position as a logistics hub. Furthermore, rising uncertainty may deter foreign investment in the logistics sector, limiting growth opportunities. Ultimately, these geopolitical challenges threaten to undermine the competitive advantages that Vietnam has cultivated in its 3PL market.

Vietnam Third Party Logistics (3PL) Market

Segmental Coverage

Vietnam Third Party Logistics (3PL) Market – By Service

Based on service, Vietnam Third Party Logistics (3PL) Market is divided into Dedicated Contract Carriage (DCC)/Freight Forwarding, Domestic Transportation Management (DTM), International Transportation Management (ITM), Warehousing &Distribution (W&D), and Value-Added Logistics Services (VALs) segments. The domestic transportation management (DTM) segment accounts for the largest share of Vietnam Third Party Logistics (3PL) Market by service. The DTM segment is crucial as it encompasses vital services like domestic freight transport, which supports the increasing demands of Vietnam's booming manufacturing and e-commerce sectors. According to the Ministry of Industry and Trade (MoIT), domestic transportation management is essential for the country's logistics infrastructure, facilitating the movement of goods and significantly contributing to import-export activities. However, challenges such as high service costs, limited capital, and insufficient integration within the logistics supply chain hinder domestic players' ability to maximize their market share. To enhance competitiveness, the government and industry stakeholders must support the domestic transportation segment by investing in infrastructure and technology, improving service quality, and encouraging sustainable practices. This strategic focus will help retain the segment's leading position in the 3PL market and bolster Vietnam's overall economic growth.

Vietnam Third Party Logistics (3PL) Market – By Transport

By transport, Vietnam Third Party Logistics (3PL) Market is divided into Roadways, Railways, Waterways, and Airways segments. The roadways segment holds the highest share in Vietnam Third Party Logistics (3PL) Market by transport, due to its high demand and versatility, capable of handling various cargo sizes from small packages to large shipments. This flexibility makes it a preferred option for businesses with varied transportation requirements. Road transportation also offers convenient door-to-door delivery, enhancing accessibility in both urban and rural areas. As one of the most cost-effective and efficient modes for short to medium-distance shipments, it plays a vital role in the supply chain. Additionally, the surge in online shopping has further solidified the importance of road transport for fast and flexible deliveries. With ongoing infrastructure development supporting this mode, road transportation is expected to retain its leadership, particularly in last-mile deliveries and regional distribution.

Vietnam Third Party Logistics (3PL) Market – By End User

On the basis of end user, Vietnam Third Party Logistics (3PL) Market is divided into Manufacturing, Retail, Healthcare, Automotive, and other segments.

Competitive Landscape

Major companies operating in the highly competitive Vietnam Third Party Logistics (3PL) Market include DHL Vietnam, FedEx Vietnam, Kerry Logistics, Gemadept, Vinafco, Transimex Saigon, Crane Worldwide Logistics, BSS Vietnam, Cargonet LOGISTICS Vietnam, and Mekong Logistics. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

• In July 2024 - AGX Group Berhad announced its plans to expand into Vietnam by acquiring a 60% stake in AGX Logistics (Vietnam) Co., Ltd for VND 1.8 billion.

Scope of the Report

By Service

• Dedicated Contract Carriage (DCC)/Freight Forwarding

• Domestic Transportation Management (DTM)

• International Transportation Management (ITM)

• Warehousing &Distribution (W&D)

• Value Added Logistics Services (VALs)

By Transport

• Roadways

• Railways

• Waterways

• Airways

By End User

• Manufacturing

• Retail

• Healthcare

• Automotive

• Others

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. Vietnam Third Party Logistics (3PL) Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Growth in manufacturing industry
         2. Increase in trading activities
      2. Restraints
         1. Poor infrastructure in Vietnam
         2. Higher logistics costs
      3.  Opportunities
         1. Rapid growth of the e-commerce sector
         2. Surge in use of IT solutions and software
      4. Challenges
         1. Growing emphasis on sustainability and environmental responsibility in logistics
   3.  Technological Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. Vietnam Third Party Logistics (3PL) Market: Marketing Strategies
5. Vietnam Third Party Logistics (3PL) Market: Pricing Analysis
6. Vietnam Third Party Logistics (3PL) Market Overview
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Service
         1. Dedicated Contract Carriage (DCC)/Freight Forwarding
         2. Domestic Transportation Management (DTM)
         3. International Transportation Management (ITM)
         4. Warehousing &Distribution (W&D)
         5. Value Added Logistics Services (VALs)
      2. By Transport
         1. Roadways
         2. Railways
         3. Waterways
         4. Airways
      3. By End User
         1. Manufacturing
         2. Retail
         3. Healthcare
         4. Automotive
         5. Others
7. Competitive Landscape
   1. List of Key Players and Their Range
   2. Vietnam Third Party Logistics (3PL) Company Market Share Analysis, 2023
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Developments (Mergers, Acquisitions, Partnerships)
8. Impact of Escalating Geopolitical tensions on Vietnam Third Party Logistics (3PL) Market
9. Company Profiles (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook, and SWOT Analysis)
   1. DHL Vietnam
   2. FedEx Vietnam
   3. Kerry Logistics
   4. Gemadept
   5. Vinafco
   6. Transimex Saigon
   7. Crane Worldwide Logistics
   8. BSS Vietnam
   9. Cargonet LOGISTICS Vietnam
   10. Mekong Logistics
   11. Other prominent players
10. Key Strategic Recommendations
11. Research Methodology
    1. Qualitative Research
       1. Primary & Secondary Research
    2. Quantitative Research
    3. Market Breakdown & Data Triangulation
       1. Secondary Research
       2. Primary Research
    4. Breakdown of Primary Research Respondents
    5. Assumption & Limitation

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.

List of Figures

Figure 1       Vietnam Third Party Logistics (3PL) Segmentation                              

Figure 2       Vietnam Third Party Logistics (3PL) Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2023                            

Figure 4       Vietnam Third Party Logistics (3PL) Market Size, By Value (USD Billion), 2019–2030

Figure 5       Vietnam Third Party Logistics (3PL) Market Share, By Service, By Value, 2019–2030

Figure 6       Vietnam Third Party Logistics (3PL) Market Share, By Transport, By Value, 2019–2030                             

Figure 7       Vietnam Third Party Logistics (3PL) Market Share, By End User, By Value, 2019–2030

List of Tables      

Table 1        Vietnam Third Party Logistics (3PL) Market Share, By Service, By Value, 2019–2030

Table 2        Vietnam Third Party Logistics (3PL) Market Share, By Transport, By Value, 2019–2030                             

Table 3        Vietnam Third Party Logistics (3PL) Market Share, By End User, By Value, 2019–2030

Table 4        DHL Vietnam Company Overview

Table 5        DHL Vietnam Financial Overview

Table 6        FedEx Vietnam Company Overview

Table 7        FedEx Vietnam Financial Overview

Table 8        Kerry Logistics Company Overview

Table 9        Kerry Logistics Financial Overview

Table 10      Gemadept Company Overview

Table 11      Gemadept Financial Overview

Table 12      Vinafco Company Overview

Table 13      Vinafco Financial Overview

Table 14      Transimex Saigon Company Overview

Table 15      Transimex Saigon Financial Overview

Table 16      Crane Worldwide Logistics Company Overview

Table 17      Crane Worldwide Logistics Financial Overview

Table 18      BSS Vietnam Company Overview

Table 19      BSS Vietnam Financial Overview

Table 20      Cargonet LOGISTICS Vietnam Company Overview

Table 21      Cargonet LOGISTICS Vietnam Financial Overview

Table 22      Mekong Logistics Company Overview

Table 23      Mekong Logistics Financial Overview