Office Supply Market Experiencing Resilient Growth Due to Factors such as Digitalization and eCommerce Expansion
Future Market Insights Global and Consulting Pvt. Ltd.
The global office supplies market size is projected to grow from US$ 174.4 billion in 2024 to US$ 221.0 billion by 2034, at a CAGR of 2.4%. The market growth is being driven by the booming worldwide services industry, coupled with the rising product consumption in the education sector.
NEWARK, Del, April 08, 2024 (GLOBE NEWSWIRE) — Estimated that the market for office supplies will be valued at US$ 174.4 billion in 2024, and is predicted to rise at a CAGR of 2.4% from 2024 to 2034. By 2034, the market is expected to reach a value of US$ 221.0 billion.
The market for office supplies is being driven by the increasing integration and automation of various processes that have resulted in a higher demand for electronic devices, furniture, and other supplies that aid in the efficient functioning of offices. This has also led to suppliers expanding their service capabilities by including non-core office supplies. The closure of small supply stores due to digitalization has shifted the focus to determining prices based on factors such as geographic coverage and distribution assurance, thereby spurring growth in the office supply market. The expansion of commercial settings such as banks, schools, and corporate offices worldwide, along with government support for global commercial infrastructure development, are also significant factors influencing the market.
Request for a sample of this research report: https://www.futuremarketinsights.com/reports/sample/rep-gb-19353
The office supplies industry has experienced a significant shift towards online purchasing and ordering, which has accelerated its growth. Flexible office setups and shared workspaces have also increased demand, resulting in the growth of technology-focused office supplies. E-commerce has further augmented the market’s growth by providing benefits such as digital payment methods, consumer convenience, and lower costs.
“The office supply market is set to grow due to remote work, flexible office setups, and e-commerce. Manufacturers and vendors can expand their product offerings through online channels. Technology-focused office supplies and shared workspaces will drive further growth” says Sneha Verghese, Senior Consultant for Consumer Goods and Products at Future Market Insights
Story continues
Key Takeaways from the Market Study
-
The office supplies industry attained a market size of US$ 174.4 billion in 2024, which increased to US$ 221.0 billion in 2034. The market grew at a CAGR of 2.4% over this period.
-
Based on the product type, the desk segment is projected to acquire a market share of 33% in 2024.
-
South Korea is one of the most promising countries in the market. The CAGR for the market in South Korea is anticipated to be 4.4% over the forecast period.
Competitive Strategies Used by Market Players
Office supply companies like Staple and Office Depot are focusing on providing top-quality and innovative office supplies through online platforms to boost their revenue. Many of these companies have also launched eco-friendly products to attract more customers and improve their overall product range.
However, the office supplies industry faces tough competition from e-commerce giants, supercentres, and other players. Despite the challenges, SOLO, a premium Indian brand, has successfully ventured into the global office stationery and supplies market. By offering high-quality, innovative, and internationally recognized products, SOLO has become the go-to brand for premium stationery in India and beyond.
Ready to Learn About Our Approach? Explore Our Methodology: https://www.futuremarketinsights.com/request-report-methodology/rep-gb-19353
New Developments
-
In 2022, SOLO became the first Indian brand to enter the global office stationery and supplies market offering high-quality, innovative, and international standards products that paved the way for the brand to become India’s top option for premium stationary markets.
-
In 2022, IC announced and signed an agreement to acquire 100% shares of InKbox, the leading brand of high-quality semi-permanent tattoos. The acquisition will make BIC a leader in the Do-It-yourself creative industry. The fast-growing digitally native brand with an outstanding growth track record.
Key Players are:
-
The OPD Corporation
-
Staples Inc, ACCO Brands Corporation
-
Shoplet, SASCO Brands
-
The 3M Company (Minnesota, USA)
-
Canon Inc. (Tokyo, Japan)
-
Tesco PLC (Welwyn Garden City, UK)
-
UCHIDA YOKO GLOBAL CO. LTD. (Shinkawa, Japan)
-
Wesfarmers Limited (Perth, Australia)
Country-wise Analysis
|
Countries |
CAGR (2024 to 2034) |
|
|
United States |
2.7 % |
|
|
United Kingdom |
3.4 % |
|
|
China |
2.9 % |
|
|
Japan |
3.9 % |
|
|
South Korea |
4.4 % |
|
Gain Immediate Access to Detailed Market Insights: https://www.futuremarketinsights.com/checkout/19353
Key Segmentations:
By Product:
-
Desk
-
Filling
-
Binding
-
Computer/Printer
-
Others
By Application:
-
Enterprises
-
Household
-
Educational Institutions
-
Others
By Region:
-
North America
-
Latin America
-
Asia Pacific
-
MEA
-
Europe
Author
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
Explore FMI’s Extensive Ongoing Coverage on the Consumer Product Domain:
-
The office seat cushion market size is projected to expand to an impressive valuation of US$ 56.39 Million in 2023 and is anticipated to exhibit a compound annual growth rate (CAGR) of 6.4% from 2023 to 2033.
-
The global home office furniture market is expected to witness a market value of US$ 19.2 billion in 2023 and is expected to accumulate a market value of US$ 26.1 billion by registering a CAGR of 3.0% in the forecast period 2023 to 2033.
-
The value of the stationery product market is set to soar due to both residential and commercial use, and by 2034 the value of the market is poised to reach US$ 271.0 billion.
-
Demand for online leadership development programs is set to rise at an 11.40% CAGR during the projected period due to the growing need for strong leadership abilities. Emerging trends in this ecosystem point to a US$ 145.87 billion valuation by 2034.
-
The global minibar refrigerator market is predicted to grow at a CAGR of 3.7% from 2024 to 2034. The overall market is estimated to reach US$ 518.6 million by 2034 growing from US$ 360.6 million in 2024.
-
The global market for camping furniture is going to be valued at around US$ 264.2 million in 2024. The market is anticipated to develop at a 4.80% CAGR between 2024 and 2034, reaching a valuation of US$ 422.2 million by 2034.
-
The global ceiling fan market size is projected to surpass a valuation of US$ 17,970.40 million by 2034. As per the analysis, the ceiling fan market is likely to exhibit a CAGR of 4.50% through 2034, with a current valuation of US$ 11,571.70 million.
-
The lamp market is set to record a CAGR of 5.3% from 2024 to 2034, following an estimated size of US$ 14,227.30 million in 2024. By 2034, the global lamp and lighting market is expected to hit US$ 23,858.60 million.
-
The market is expected to reach US$ 2,695.2 million in 2024. By 2034, global coaching platform sales are projected to exhibit a 13.9% CAGR. It is estimated to attain a total market size of US$ 9,952.0 million by 2034.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Nandini Singh Sawlani
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
