Asia-Pacific Customs Brokerage Market - Growth, Trends, Covid-19 Impact, and Forecasts (2022-2027)

The Asia-Pacific Customs Brokerage Market is segmented by Mode of Transport (Sea, Air, and Cross-border Land Transport) and by Geography (China, Japan, India, Australia, Malaysia, South Korea and Rest of Asia-Pacific)

Market Snapshot

asia pacific customs brokerage market
Study Period: 2018-2027
Base Year: 2021
CAGR: >3 %

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Market Overview

The Asia-Pacific customs brokerage market is estimated to register a CAGR of approximately 3% during the forecast period (2022-2027).

The coronavirus disease (COVID-19) pandemic has had a significant negative impact on global trade and supply chains, with many vulnerable economies in low-income countries being disproportionately affected. Although developing Asia’s trade recovered somewhat in the latter half of 2020, mainly due to the People’s Republic of China (PRC), the rebound was less pronounced in other economies in the region. This also had an impact on the customs brokerage market in the region.

However, now the Asia-Pacific customs brokerage market has been steadily expanding, and this trend is expected to continue throughout the forecast period. The Asia-Pacific region is very important in global trade, and the region accounts for a large portion of global imports and exports. The region's top trading nations are China, Japan, India, Australia, and South Korea. According to the Ministry of Finance of the People's Republic of China, China collected CNY 2.01 trillion in custom duties in 2021. The Central Taxes and Customs Board of India states that the total customs duties collected in 2020-2021 were INR 1.3 trillion, and the total customs duties collected by the Japan Customs Authority in FY 2019 were JPY 9.2 trillion, accounting for 14.9% of the total national tax revenues.

Customs brokerage is a highly competitive market, with a large number of brokers operating, particularly along borders. The major players, however, control a sizable portion of the market. Companies that offer customs brokerage services are investing in R&D to gain a competitive advantage in the market. R&D spending is expected to rise over the forecast period as demand grows for streamlined and more effective customs clearance processes with quick turnaround times.

Scope of the Report

Customs Brokerage firms facilitate the shipment and delivery of goods across geographical borders for individuals and organizations. The Asia-Pacific customs brokerage market is segmented by mode of transport and by geography. By mode of transport, the market is segmented into sea, air, and cross-border land transport. By geography, the market is segmented into China, Japan, India, Australia, Malaysia, South Korea, and the rest of Asia-Pacific.

By Mode Of Transport
Sea
Air
Cross-Border Land Transport
By Geography
China
Japan
India
Australia
Malaysia
South Korea
Rest of Asia-Pacific

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Key Market Trends

Increasing Chinese Imports Driving the Growth of the Market

The Chinese economy is the second-largest economy globally and was the largest in the world in terms of share of global PPP-based GDP in 2021, accounting for 18.62% of global GDP. China has the largest consumer market in the Asia-Pacific region, With a population base of 1.4 billion. China's total goods imports and exports expanded 21.4% year on year to CNY 39.1 trillion in 2021. China's top imports in 2021 were, Electrical machinery and equipment (24.8% of total imports), Mineral fuels including oil Ores (14.7%), slag, ash (10.4%), Machinery including computers (8.6%), Optical, technical, medical apparatus (4.1%), Vehicles (3.3%), Plastics, plastic articles (3.1%), Gems, precious metals (2.9%), Copper (2.4%), Organic chemicals (2.3%).

According to the General Administration of Customs, tax revenue exceeded CNY 2 trillion (about USD 313.75 billion) for the first time in 2021. Taxes collected reached CNY 2.01 trillion, up 17.7% from 2020, data from the administration showed. This growth in the imports and the customs tax collected shows the growth of the Asia-Pacific customs brokerage market.

 asia pacific customs brokerage market share

Maritime Trade Driving the Growth of the Market

Maritime freight transport is the most important mode of international goods transport. The number of customs entries by mode is highest for sea transport, as is the revenue of the customs brokerage market. According to the United Nations Conference on Trade and Development (UNCTAD), sea transport accounts for roughly 80% of global trade by volume and 70% by value.

Around two-thirds of global trade in goods takes place in developing countries. In 2020, developing countries, including the transition economies of Asia, accounted for 60% of global goods loaded (exports) and 70% of goods discharged (imports). Much of this growth has been in East Asia, especially China, and there has also been a surge in volumes on the Transpacific containerized trade route linking East Asia to North America. Asia’s predominance in global maritime trade strengthened in 2020, as it maintained a 41% share of total goods loaded, increased its volume of goods discharged, and remained the largest seafarer supply region in the world.

 asia pacific customs brokerage market forecast

Competitive Landscape

The market for Customs Brokerage in Europe is fragmented in nature. With a large number of customs brokers operating in the market, the competition is high. The major players in the market include Geodis Logistics, JAS Worldwide Logistics, DHL Logistics, Yusen Logistics, HTH Logistics, etc.

Recent Development

September 2021 : GEODIS, a leading global transport and logistics services provider, announced that its division in Hong Kong has been accredited as an Authorized Economic Operator (AEO) by the Hong Kong Customs and Excise Department. AEO status recognizes excellent security and safety procedures amongst those within the supply chain industry. With the accreditation, GEODIS in Hong Kong will now be given access to priority customs facilitation and inspection, allowing the logistics provider to optimize its local operations, delivering agile, secure, and reliable solutions for customers.

November 2021 : Bolloré Logistics Japan was certified as an Authorized Economic Operator (AEO) customs broker and received the AEO customs broker certificate at the award ceremony held at Tokyo Customs in January 2022. The AEO system was first launched in 2001 and aims to improve international competitiveness by ensuring security in international logistics and facilitating trade. The advantages of AEO customs brokers are simplification of customs clearance, as well as reduced lead times and costs. In Japan, the program was introduced in 2006.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Market

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET INSIGHTS

    1. 4.1 Current Market Scenario

    2. 4.2 MARKET DYNAMICS

      1. 4.2.1 Drivers

      2. 4.2.2 Restraints

      3. 4.2.3 Opportunities

    3. 4.3 Government Initiatives and Regulations

    4. 4.4 Supply Chain/Value Chain Analysis

    5. 4.5 Impact of COVID-19 on the Market

    6. 4.6 Brief on Customs Brokerage as a Freight Forwarding Function

    7. 4.7 Overview of Customs Pricing

    8. 4.8 Insights on Customs Brokerage Services by End-user Industry

    9. 4.9 Industry Attractiveness - Porter's Five Forces Analysis

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Mode Of Transport

      1. 5.1.1 Sea

      2. 5.1.2 Air

      3. 5.1.3 Cross-Border Land Transport

    2. 5.2 By Geography

      1. 5.2.1 China

      2. 5.2.2 Japan

      3. 5.2.3 India

      4. 5.2.4 Australia

      5. 5.2.5 Malaysia

      6. 5.2.6 South Korea

      7. 5.2.7 Rest of Asia-Pacific

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Market Concentration Overview

    2. 6.2 Company Profiles

      1. 6.2.1 DHL Group Logistics

      2. 6.2.2 Geodis Logistics

      3. 6.2.3 JAS Worldwide Logistics

      4. 6.2.4 HTH Corporation

      5. 6.2.5 Yusen Logistics

      6. 6.2.6 China International Freight Co.

      7. 6.2.7 OEC Group

      8. 6.2.8 Kintetsu World Express

      9. 6.2.9 Kawasaki Rikuso Transportation Co.,Ltd.

      10. 6.2.10 One Global Logistics*

    3. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. APPENDIX

    1. 8.1 Macroeconomic Indicators

    2. 8.2 Insights on capital flow

    3. 8.3 Exports and Import Statistics

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Frequently Asked Questions

The Asia-Pacific Customs Brokerage Market market is studied from 2018 - 2027.

The Asia-Pacific Customs Brokerage Market is growing at a CAGR of >3% over the next 5 years.

Geodis Logistics, JAS Worldwide Logistics, DHL Group Logistics, Yusen Logistics, HTH Corporation are the major companies operating in Asia-Pacific Customs Brokerage Market.

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