The global office supplies market is expected to witness growth at a
compounded annual growth rate of 3.5% over the forecast period of 2022-2030.
Office supplies are consumables and equipment used
regularly in offices by businesses or other organizations or by individuals
whose scope of work includes but is not limited to cleaning or janitorial,
storage of supplies or data, bookkeeping or bookkeeping or recordkeeping, and
written communications. Some office supplies items may consist of paper-based
products, daily use items, small machines, storage and equipment, writing and
marketing instruments, small, expendable, computers and printers, etc.
primarily driving the growth of the office supplies market include: the surging
worldwide focus on education coupled with the proliferating literacy rates across
the globe; the increasing number of new office spaces across the globe; the
growing launching of new office supplies products by market players across
different regions; the escalating number of campaigns and industrial
development across the under-developed and developing regions leading to a rising
number of jobs across the globe; the burgeoning number of small office supply
businesses; the soaring expenditure on office supplies and the growing trend of
flexible working space among businesses.
Additionally, the expanding e-commerce industry is providing enormous
growth opportunities to the market players present in the global office
supplies market. E-commerce platforms offer many advantages and benefits,
including easier payments, enhanced consumer convenience, and comparatively
lower costs. As such, the online sales of products, including office supplies,
are witnessing a massive surge. Consequently, many leading players are listing
their office supplies product offerings across different platforms in the
online market place. This allows both the retailers and manufacturers to
promote and sell their products to a larger set of customers, resulting in a
shift among consumers from offline stores to online stores for buying office
supplies, thereby augmenting the growth of the global market.
Moreover, recent years have witnessed a colossal number of start-ups
emerging in the global office supplies market, mainly in developed countries
including the U.S, Germany, Australia, and the developing countries including
India and China. This growing number of start-ups providing office supplies in
different regions across the globe is anticipated to bode well for the growth
of the office supplies market during the forecast period.
Furthermore, other factors such as the growing introduction and demand
for eco-friendly products; especially in the matured countries; the maturing
trend of focusing on self-branded products; and the increasing number of
companies expanding their service capabilities through the inclusion of
non-core office supplies are expected to further augment the growth of the
global office supplies market during the forecast period.
However, factors such as: the increasing transformation towards digitization;
the growing concept of “green” businesses; and the escalating demand for
smarter mobile devices among consumers where documents can be stored virtually
are expected to restrain the growth of the global office supplies market to
some extent during the forecast period.
OFFICE SUPPLIES MARKET SEGMENTATION:
Clips & Fasteners
Staplers & Punches
Tape & Adhesives
Computer & Printer Supplies
By Distribution Channel:
Supermarket & Hypermarket
Middle East & Africa
Based on product, the computer & printer supplies
segment captured the largest share of the global office supplies market in
2021. The segment is predicted to further retain its dominance in the market
and register growth at a growth rate of 3.2% over the forecast period of
2022-2030. The growing IT integration, industrial automation, and the
increasing shifting from tri-color cartridges to ink-cartridges for
higher-quality printing are the major factors driving the segment’s growth.
Based on distribution channel, the supermarket &
hypermarket segment dominated the global office supplies market in 2021. The
segment is poised to further maintain its lead and grow at a moderate CAGR of
2.8% in the market over the forecast period of 2022-2030.
The North American region held the largest share of the
global office supplies market in 2021, followed by Europe. The region’s
position is improbable to change over the forecast period. The market’s largest
share and growth can be attributed to the increasing trend of online ordering
in the region; the presence of well-established market players in the region;
and the escalating launching of new products and the growing investment in
online portals by these market players in the region. The U.S., followed by
Canada is the major contributor to the growth of the market in the region.
The Asia Pacific region is poised to emerge as the fastest-growing
regional market for office supplies during the forecast period of 2022-2030. The
growing number of local office suppliers in the region and the increasing number
of new product launches by them are majorly attributed to the growth of the
office supplies market growth in the Asia Pacific region. India, China, Japan
and Australia are the major contributors to the growth of the market in the
KEY COMPANIES IN OFFICE SUPPLIES MARKET:
The Hewlett-Packard Company
Office Depot Inc.
A.T. Cross Company
Arcadia Technologies Private Limited