Office Supplies Market: Global Size, Share, Trends, Growth and Forecast, 2020-2025
The Rise in Number of New Office Spaces Around the World is Likely to Drive the Global The office supplies market at 2.7% CAGR during 2020 & 2025.
Growing E-commerce Marketplace in Office Supplies
In an era of online purchasing, the office supplies market is increasingly putting its product offerings on the online platform with the help of e-retailers. The office supplies sector is pursuing benefits from the growing e-commerce marketplace. The manufacturers and retailers are increasing their standards by selling their products using the online sales channel. Apart from this, the manufacturers and retailers are raising the bar for their other digital capabilities. They are focusing on various online media formats, which include mobile-based applications and social networking sites, in order to expand their digital presence, which is enabling these manufacturers and retailers to endorse and sell their products to a larger number of customers.
Increasing Numbers of Start-ups
The increasing number of start-ups in the field of office supplies is opening a gateway opportunity for the market to grow in the upcoming years. In addition to this, China, India, United States, Germany, Australia, and other countries are the most attractive countries in the field of office supplies which is indulging many start-up companies to enter into the office supplies market. Further, this factor is likely to impact the growth of the office supplies market over the forecasted period.
Rising Sales of Computer & Printer Segment
The computer & printer supplies segment is likely to continue with its exponential growth in the upcoming years. Due to industrial automation and IT integration, the demand for paper-based products is on the decline in developed markets, which is providing an immense growth opportunity for the computer & printer supplies manufacturers over the upcoming years. Apart from this, the users are switching from tri-color cartridges to ink-cartridges for higher-quality printing, which has resulted in the increasing adoption of printing supplies. Further, this factor is anticipated to positively impacting the growth of the printing supplies segment over the upcoming years.
Increasing Number of Corporate Offices
With the rise in the number of corporate offices across the globe, the market of office supplies is growing at a remarkable pace over the forecast period. Further, with the rise in the number of offices worldwide and high spending on office supplies are some of the major factors which are foreseen to drive the demand for office supplies over the upcoming years.
Barriers in Market
The increasing demand for smarter mobile devices has caused a reduction in demand for paper. Technologies like cloud services help buyers to store documents virtually, which helps in making purchases of photocopiers and faxes less necessary. Further, factors which include a growing trend towards green initiatives that discourage the use of paper, and the increase in the virtual offices are also decreasing the demand for traditional supplies from corporates.
The sales of offline stores are declining at a steady rate. The leading companies in the office supplies market are now focusing on the online sales channels this reason is hampering the growth of the office supplies market. For instance, Staples Inc. & Office Depot Inc. has witnessed a decline in sales from its retail stores in recent years. Since offline stores are the source of a major share of the company’s revenue, this decline in sales can hamper the business growth of the companies in the future.
The increasing competition in the marketplace is a significant challenge for companies in the office supplies market. The rise in prevalence of online retailers, supercenters, and discount stores is pretending a notable threat to the office supplies providers, as these market players are in better positions to offer competitive prices and one-stop-shop solutions to customers due to their merchandising and distribution models. Further, these factors regarding the price reduction have the potential to negatively impact the demand for the office supplies market over the upcoming years.
Global the office supplies market is expected to reach USD 273.9 Billion by the end of 2024 from USD 235.3 Billion in 2018. Factor such as growing e-commerce marketplace in office supplies, rising sales of computer & printer segment and an increasing number of corporate offices are anticipated to positively impact the growth of global the office supplies market. Furthermore, the market of global office supplies will be receiving an opportunity of USD 38.6 Billion between 2020 & 2025. In addition to this, global the office supplies market value is projected to witness a Y-o-Y growth of 3.4% in 2024 as compared to previous years. The market value of global the office supplies market is expected to rise at a CAGR of 2.7% over the projected period.
With respect to the product, the market is segmented into writing supplies, calendars, planners, organizers, clips & fasteners, tape & adhesives, computer & printer supplies, and others, out of which, computer & printer supplies segment shared approximately 29.9% of the global the office supplies market in 2019.
With respect to the distribution channel, the market is segmented into online stores and offline stores (supermarket & hypermarket, stationery shop & others), out of which, offline stores segment captured lion share of the global market in 2018. According to BPS analysis, online stores segment is likely to witness an increase of +120 BPS during the forecast period. Further, the online office supplies market is anticipated to grow at a CAGR of 3.1% during the forecast period i.e. 2020-2025.
In terms of geography, the office supplies market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The Asia Pacific office supplies market was held at USD 101.4 Billion in 2018 and is anticipated to reach USD 121.2 Billion by the end of 2024. The Asia Pacific the office supplies market accounted for a market share of 43.1% in 2018 and further, is expected to stand at a notable market share by the end of 2024.
The key players profiled in the report include Staples, Inc., Office Depot Inc., Tesco PLC, Stanley Bostitch, Faber-Castell, and other major key players. These market players have adopted different business strategies, such as acquisition, product launch, merger, and partnership to stay competitive in the global market. For instance, Office Depot, Inc. partnered with Google and Nest to become a certified installation partner for Google and Nest smart home devices. This partnership allowed them to sale Google Home Minis and Nest cameras, thermostats and more to the consumers. Also, they can have them installed and connected to their other smart home devices as well.
Growing flexible working spaces are also encouraging the growth of the office supplies market. Co-working saw a great start in many countries and is likely to perform a strong role in shaping the future supply-demand dynamics by changing the way the serviced office industry works. The increasing number of companies prefer co-working spaces to conventional office spaces due to savings on operational costs and a more flexible work environment. Further, the flexible working space is the fastest-rising segment all over the world and many major players and start-ups getting into this segment. Moreover, this factor is anticipated to positively impact the growth of the office supplies industry over the upcoming years.
Based on Product Type
- Writing Supplies (Pens, Highlighters, Markers, Pencils, Erasers, Others)
- Calendars (Desk Calendar, Wall Calendar, Others)
- Planners(Daily Planner, Monthly Planner, Other)
- Clips & Fasteners
- Staplers & Punches
- Sticky Notes
- Memo Pad
- Tape & Adhesives
- Computer & Printer Supplies
Based on Distribution Channel
- Online Stores
- Supermarket & Hypermarket)
- Stationery Stores
Based on Geography
- North America (U.S. & Canada)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Argentina and Rest of Latin America)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)
- Middle East & Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa)