Press release
Office Supplies Market is estimated to reach USD 273.9 Billion in 2024 | Top Key Players: Staples, Inc., Office Depot Inc., Tesco PLC, Stanley Bostitch, Faber-Castell
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 2019 & 2024.
Global the office supplies market accounted for USD 235.3 Billion in 2018 and is estimated to reach USD 273.9 Billion in 2024, registering a compound annual growth rate (CAGR) of 2.7% between 2019 and 2024. In addition, the market of global office supplies will be receiving an opportunity of USD 38.6 Billion between 2018 & 2024.
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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.
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.
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Table of Content
Research Methodology
Market Definition and List of Abbreviations
1. Executive Summary
2. Growth Drivers & Barriers in Global Office Supplies Market
3. Global Office Supplies Market Trends
4. Opportunities in Global Office Supplies Market
5. Recent Industry Activities, 2018
6. Porter's Five Forces Analysis
7. Global Office Supplies Market Value (USD Billion) Forecast & Y-o-Y Growth Analysis, 2018-2024
8. Global Office Supplies Market Segmentation Analysis, By Product
8.1. Introduction
8.2. Market Attractiveness, By Product
8.3. BPS Analysis, By Product
8.4. Writing Supplies Market Value (USD Billion) Forecast & Y-o-Y Growth Analysis, 2018-2024
8.4.1. Pens
8.4.2. Highlighters
8.4.3. Markers
8.4.4. Pencils
8.4.5. Erasers
8.4.6. Others
8.5. Calendars Market Value (USD Billion) Forecast & Y-o-Y Growth Analysis, 2018-2024
8.5.1. Desk Calendar
8.5.2. Wall Calendar
8.5.3. Others
8.6. Planners Market Value (USD Billion) Forecast & Y-o-Y Growth Analysis, 2018-2024
8.6.1. Daily Planner
8.6.2. Monthly Planner
8.6.3. Others
8.7. Organizers Market Value (USD Billion) Forecast & Y-o-Y Growth Analysis, 2018-2024
8.8. Clips & Fasteners Market Value (USD Billion) Forecast & Y-o-Y Growth Analysis, 2018-2024
8.8.1. Staplers & Punches
8.8.2. Sticky Notes
8.8.3. Memo Pad
8.9. Tape & Adhesives Market Value (USD Billion) Forecast & Y-o-Y Growth Analysis, 2018-2024
8.10. Computer & Printer Supplies Market Value (USD Billion) Forecast & Y-o-Y Growth Analysis, 2018-2024
8.11. Other Market Value (USD Billion) Forecast & Y-o-Y Growth Analysis, 2018-2024
9. Global Office Supplies Market Segmentation Analysis, By Distribution Channel
9.1. Introduction
9.2. Market Attractiveness, By Distribution Channel
9.3. BPS Analysis, By Distribution Channel
9.4. Online Stores Market Value (USD Billion) Forecast & Y-o-Y Growth Analysis, 2018-2024
9.5. Supermarket & Hypermarket Market Value (USD Billion) Forecast & Y-o-Y Growth Analysis, 2018-2024
9.6. Stationery Stores Market Value (USD Billion) Forecast & Y-o-Y Growth Analysis, 2018-2024
9.7. Other Market Value (USD Billion) Forecast & Y-o-Y Growth Analysis, 2018-2024
Continue…
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