Global Office Supplies Market Expected to Reach atn

Global Office Supplies Market Expected to Reach at CAGR of 2.7 % Over Forecast Period 2018 -2024

As per as FAST. MR the Global 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 the increasing number of corporate offices are anticipated to positively impact the growth of the global office supplies market. The market value of global office supplies market is expected to rise at a CAGR of 2.7% over the forecast period i.e. 2019-2024.

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Market Insights

Growth Drivers – Office Supplies Market

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-tailers. 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 includes 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.

Growing Flexible Working Space

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 startups getting into this segment. Moreover, this factor is anticipated to positively impact the growth of the office supplies industry over the upcoming years.

Increasing Number of Corporate Offices

The rise in the number of corporate offices across the globe, the market for 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 – Office Supplies Market

Decreasing Demand for Traditional Office Supply Products

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.

Market Trends – Office Supplies Market

Online Sales Channel

The global office supplies companies are engaged in the enhancement of their online distribution channel and turning towards online retailing. As a result, it is not surprising to see shopping habits for office supplies moving away from traditional channels to online channels and especially in the emerging countries where there is fluid infrastructure development and sharp consumer price sensitivity. In addition to this, the purchase of office supplies from an online sales channel offers value for money.

Geographical Analysis

Geographically, the report offers an analysis of North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In the office supplies market, Asia Pacific is projected to capture a large market share over the forecast period. Asia Pacific office supplies market is expected to reach USD 121.2 Billion by the end of 2024 from USD 101.4 Billion in 2018. The market value of the Asia Pacific office supplies market is expected to rise at a CAGR of 3.2% over the projected period.

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Segmentation

By Product:

– Writing Supplies (Pens, Highlighters, Markers, Pencils, Erasers, Others)

– Calendars (Desk Calendar, Wall Calendar, Others)

– Planners (Daily Planner, Monthly Planner, Others)

– Organizers

– Clips & Fasteners (Staplers & Punches, Sticky Notes, Memo Pad)

– Tape & Adhesives

– Computer & Printer Supplies

– Other

By Distribution Channel:

– Online Stores

– Supermarket & Hypermarket

– Stationery Stores

– Other

By Geography

– North America (U.S. & Canada)

– Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)

– 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)

– Middle East & Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa)

Competitive Landscape

The report profiles various major market players such as

– Staples, Inc.

– Office Depot Inc.

– Tesco PLC

– The Hewlett-Packard Company

– Stanley Bostitch

– Kokuyo

– Canon Inc.

– Faber-Castell

– Dell Inc.

– T. Cross Company

– Other Major & Niche Players

Competitive landscape analysis provides detailed strategic analysis of the company’s business and performance such as financial information, revenue breakup by segment and by geography, SWOT Analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, recent news (acquisition, expansion, technology development, research & development and other market activities).

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