Pune, India, May 05, 2022 (GLOBE NEWSWIRE) — The global office supplies market size was $127.3 billion in 2020. The market is expected to grow from $130.5 billion in 2021 for $149.4 billion in 2028 at a CAGR of 1.9% over the period 2021-2028. This information is provided by Fortune Business Insight™in his report, titledOffice supplies market, 2021-2028.”
According to our analysts, businesses primarily use computers, printers and other office supplies to perform written communications, data storage and accounting activities. Moreover, the growth of the global business sector is fundamentally driving the demand for these products.
Impact of COVID-19
Scarcity of office work amid the COVID-19 pandemic is hampering the market
Nowadays, due to the spread of the novel coronavirus, employees are hesitant to visit corporate workspaces. This has significantly hampered the corporate office’s need for equipment and supplies, thereby hampering the growth of the office supplies market. Additionally, the closure of commercial places such as businesses and educational institutions due to COVID-19 affiliated lockdown limitations in many countries around the world has negatively affected the demand for products in these places. .
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Fortune Business Insights™ lists all companies in the office supplies market currently working to reduce the impact of the Covid-19 pandemic on the market:
- The OPD Corporation (Florida, USA)
- Staples Inc. (Washington, USA)
- ACCO Brands Corporation (Illinois, USA)
- Shoplet (New York, USA)
- SASCO brands (Heliopolis, Egypt)
- The 3M Company (Minnesota, USA)
- UCHIDA YOKO GLOBAL CO. LTD. (Shinkawa, Japan)
- Canon Inc. (Tokyo, Japan)
- Wesfarmers Limited (Perth, Australia)
- Tesco PLC (Welwyn Garden City, UK)
Report cover
The report offers a comprehensive study of the Office Supplies market combined with ongoing trends and impending predictions to establish approximate investment gains. A comprehensive examination of all upcoming prospects, threats, competitions or growth factors are also given in the report. In addition, a methodical regional review is presented in the report. The influences of COVID-19 have been outlined in the report to help investors and professionals better understand the dangers. Key players in the market are recognized and their tactics to support market growth are shared in the report.
office supplies market Report Scope and Segmentation:
| Report cover | Details |
| Forecast period | 2021-2028 |
| Forecast Period 2021 to 2028 CAGR | 1.9% |
| 2028 value projection | $149.4 billion |
| base year | 2020 |
| Market size in 2020 | $127.3 billion |
| Historical data for | 2017 to 2019 |
| Number of pages | 175 |
| Segments Covered | By product type, by application, by region |
| Growth engines | Increased trade infrastructure to support product demand |
| Commencement of purchases by crucial companies to support market growth | |
| Other segments to hold significant global market share | |
| Pitfalls and Challenges | Higher cost of raw material supplies to impact market growth |
Determining factors
Increased trade infrastructure to support product demand
Business environments such as educational institutions, corporate workplaces, banks, and others frequently use computers, desks, and other supplies to perform their official work. Thus, the increase in business and infrastructural parameters is likely to support the demand for products worldwide. Besides, the government support in the emerging business and infrastructural places of many countries across the globe would further promote the utilization rate of the product.
Regional outlook
The Asia-Pacific market reached USD 51.15 billion in 2020. This region holds the largest office supplies market share owing to the increased usage of different types of office equipment among Chinese populations , Japanese and Indian on a regular usage basis.
The North America region holds a substantial market share owing to the large spending by US consumers on school supplies as well as basic commodities.
The European region is likely to develop faster in the industry due to robust import services of office equipment and supplies in Germany, UK and France, thus boosting the utilization rate of the products In the region.
Segmentation
By product type, the market is split into,
- Office supplies
- Filling Supplies
- Binding supplies
- Computer/printer supplies
- Others
Based on application, the market is categorized into,
- Companies
- Household
- Educational institutions
- Others
On the basis of geography, the market is categorized into,
- North America
- Europe
- Asia Pacific
- South America
- The Middle East and Africa
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Competitive landscape
Commencement of purchases by crucial companies to support market growth
The dominant players in the market are constantly searching for effective tactics to enhance their brand value and endorse the growth of the global product market by facing least possible hurdles. One of these operational stratagems is to procure competitive companies and thereby guarantee a profit for both companies involved.
Detailed Table of Contents:
- Introduction
- Search scope
- Market segmentation
- Research Methodology
- Definitions and assumptions
- Summary
- Market dynamics
- Market factors
- Market constraints
- Market opportunities
- Emerging trends
- key ideas
- Overview of parent/related markets
- Industry SWOT Analysis
- Supply chain and regulatory analysis
- Recent Industry Developments – Policies, Partnerships, New Product Launches and Mergers & Acquisitions
- Qualitative analysis (in relation to COVID-19)
- 5.1 Impact of COVID-19
- 5.2 Supply chain challenges
- 5.3 Potential opportunities due to COVID-19
- Global Office Supplies Market Analysis, Outlook and Forecast, 2017-2028
- Main results/summary
- Market size estimates and forecasts
- By product type (value)
- Office supplies
- Filling Supplies
- Binding supplies
- Computer/printer supplies
- Others
- By application (value)
- Companies
- Household
- Educational institutions
- Others
- By region (value)
- North America
- Europe
- Asia Pacific
- South America
- Middle East and Africa
- By product type (value)
Notable industry development
December 2021: BIGNAME Commerce, which is a parent company of Envelopes.com and Folders.com, specialty office supply stores, has collaborated with JAM Paper Envelope, another specialty office products retailer to amplify its expertise in data analysis and manufacturing utilization.
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