Global Dropshipping Market is projected to reach the value of $1096.5 billion by 2030

According to the report published by Virtue Market Research, In 2022, the Global Dropshipping Market was valued at $190 billion and is projected to reach a market capitalization of $1096.5 billion by 2030. Over the forecast period of 2023-2030, the market is estimated to grow at a CAGR of 24.5% owing to the high growth of the e-commerce industry coupled with increasing popularity for cross-border trade.
The Dropshipping market is estimated to grow due to the increase in the number of people preferring online shopping and the subsequent increase in the e-commerce industry's customer base. The availability & affordability of smartphones coupled with increasing internet penetration is primarily responsible for this significant growth in the e-commerce industry and consequently, in the Dropshipping market as well. However, the Dropshipping market was affected crucially by the COVID-19 pandemic, as the warehouses, suppliers and delivery companies were not able to operate at full capacity due to the restrictions of lockdowns and other protocols.

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Dropshipping involves selling products through online retailers and these retailers do not own or stock the products, rather they just transfer the orders placed by the customers along with the required shipment details to the manufacturers/wholesalers of the products and these manufacturers/wholesalers are then responsible for delivering the products to the customer as per the provided shipment details. A significant rise in Dropshipping retailers has been observed, as Dropshipping does not involve any investment in warehousing or inventory management, unlike the traditional retail channels and it helps the retailers cut their major expenses significantly. With the rise in the trend of customers preferring online shopping due to the attractive attributes including smooth & comfortable process, delivery tracking, timely delivery, easy returns & refunds, etc., the Dropshipping market is also estimated to experience similar growth. A very crucial element that is estimated to propel the Dropshipping market in the near future is the introduction of more overseas and international trade in the e-commerce industry.

Segmentation Analysis:

The Global Dropshipping Market segmentation includes:

By Product:
• Toys
• Hobby and DIY
• Electronics and Media
• Furniture and Appliances
• Food and Personal Care
• Fashion

The Electronics & Media segment holds the largest share of the Dropshipping market, approximately 30% of the total sales, owing to the rise in demand for electronic products as the e-commerce platforms offer several services including product portfolio comparison, discounts, and easy returns & refunds. Due to the rise in globalization and increasing preference for branded products, the Fashion segment is the fastest-growing segment in the Dropshipping market and with the availability of various brands on common platforms, this segment is anticipated to grow even faster during the forecast period.

By Organization Size:
• SMEs
• Large Enterprises

The Large Enterprises segment accounts for the largest share of the Dropshipping market due to their robust global presence, whereas the SMEs segment is estimated to expand rapidly during the forecast period owing to the rising number of startups in developing countries.

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Regional Analysis:
The Dropshipping market in Asia-Pacific accounts for the largest share of about 31.9% of the total global revenue. The Asia-Pacific Dropshipping market is also the fastest growing market by geography, due to the following reasons - rise in internet penetration & better connectivity is pushing this region's e-commerce industry's growth, consumers are becoming more inclined towards online shopping & digital payments specifically in countries like India and less investment requirement in the Dropshipping business is attracting new start-ups to enter the Dropshipping market. The Indian and Chinese Dropshipping markets are estimated to grow even faster due to the rising number of new entrepreneurs and emerging start-ups opting for Dropshipping services, as Dropshipping services help these start-ups to reduce their inventory costs and focus on important marketing activities. With the help of drop shippers, start-ups with limited resources and limited access to distribution channels become worthy enough to compete with the industry giants. According to China Internet Information Center, China's online retail sales reached USD 1.29 trillion in 2018; this data and several other supporting data suggest that E-commerce sales in Asia-Pacific countries are growing at a rapid rate and are anticipated to achieve even faster growth in the near future.

Therefore, it is estimated that Asia-Pacific would remain the largest and fastest-growing Dropshipping market during the forecast period, where India and China are anticipated to play a key role in its growth.

Latest Industry Developments:
• In November 2022, the Shopify dropship app called MerchMixer announced the launch of a new platform, which allows resellers to list their products and dropship them on any platform. This opens up a great opportunity as the resellers can sell MerchMixer products through Walmart, eBay, WooCommerce, or any other platform/channel of the reseller's choice. Due to the launch of this platform, the reach of the MerchMixer has increased significantly, as it allows drop shippers to trade on any platform without any limitations and also provides a much larger audience to serve.
• In October 2022, DropshipZone, a Dropshipping product owned by Australia's largest private e-commerce outfit New Aim made a major transition in the product by pivoting DropshipZone from an inventory-led model to a B2B marketplace. The company estimates that it would give both suppliers and retailers huge benefits, as the suppliers would get access to larger audiences and the retailers would be able to get more choices on a single platform due to the presence of more suppliers.
• In May 2022, DSers, the official partner of AliExpress and the leading e-commerce solution provider partnered with Oberlo (acquired by Shopify) to launch a solution that would enable Shopify merchants to realize better integration with AliExpress, access to more than 150,000 sellers and bulk order fulfillment. Users can easily migrate their data from Oberlo to DSers and use DSers' services like creating bundle offers, creating buy-one-get-one-free offers, etc. to increase their sales.

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This release was published on openPR.