Office supplies Market: Current Analysis and Forecast (2022-2028)
$3999 – $6999
By Product Type (Desk Supplies, Filing Supplies, Binding Supplies, Computer/Printer Supplies, and Others); Application (Enterprises, Household, Educational Institution, and Others); and Region/Country
Global Office Supplies Market is expected to grow at a significant rate of around 2% during the forecast period. Office supplies expenses include items such as staples, paper, ink, pen and pencils, paper clips, binders, file folders, and markers. All of these items are 100% consumable, meaning that they’re purchased to be used. The increased commercial infrastructure increases product demand for office supplies. Computers, desks, and other products are frequently used in commercial contexts, including corporate workplaces, educational institutions, banks, and others, to conduct official business. Therefore, the need for the goods will be supported globally by expanding commercial and infrastructure settings. For instance, from January 2021 to June 2021 real estate company JLL India reported a new supply of official-purpose spaces in India to be 25.11 million Sq. Ft., an increase of 75% from the previous year. Furthermore, government support for the development of commercial and infrastructural environments in several nations throughout the world also contributes to the products’ high rate of consumption. For instance, in July 2020, the Government of the U.S. reintroduced its America School Act (H.R.2) to offer a fund of USD 100,000 million to help & modernize low-income and high-need communities over five years.
Office Depot, LLC.; Staples, Inc.; ACCO Brands; Shoplet; SASCO; 3M; Canon Inc.; WESFARMERS LIMITED; UCHIDA YOKO GLOBAL LIMITED; Tesco PLC are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst product type, desk supplies accounted for a significant market share in 2020”
Based on product type, the office supplies market is segmented into desk supplies, filing supplies, binding supplies, computer/printer supplies, and others. The desk supplies segment accounted for a significant market share in 2020 and it is estimated that it will grow rapidly during the projected timeframe. Due to the ongoing development of advanced and technology-based desk accessories such as furnishings for tables and chairs. The growing popularity of ergonomic chairs among people who work from offices across the globe will assist the segmental growth of desk stationery.
“Amongst application, the enterprises grow with a significant CAGR during the forecast period”
Based on application, the office supplies market is divided into enterprises, household, educational institution, and others. Among these, enterprises grow with a significant CAGR during the forecast period owing to the growing start-up culture among young merchants & entrepreneurs which is driving up product demand in this market. As per CNBC, on 3rd March 2022, 60% of teens want to launch their own businesses instead of working regular jobs.
“North America grow with a significant CAGR in the market”
North America grows with a significant CAGR during the forecast period of the global office supplies market. This is mainly attributed to major factors such as favorable government initiatives, and increased investments in educational staples. According to the U.S. Department of Education, in May 2022, total current expenditures in public elementary and secondary school spending in the U.S. reached USD 682 billion in 2020. The growing corporate offices and demand for office stationery is driving the growth of the office supplies market. Further boosting the percentage of product consumption in organizational settings in Canada and Mexico is the government’s assistance program for small businesses. For instance, in May 2020, the Federal Government of Canada announced a 75% rent relief for small Canadian businesses to help them in the COVID-19-related lockdown situation.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
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|2.1.||Research Process of the Office Supplies Market|
|2.2.||Research Methodology of the Office Supplies Market|
|5||IMPACT OF COVID-19 ON THE OFFICE SUPPLIES MARKET|
|6||OFFICE SUPPLIES MARKET REVENUE (USD BN), 2020-2028F|
|9.1.3.||Rest of North America|
|9.2.6.||Rest of Europe|
|9.3.4.||Rest of Asia-Pacific|
|9.4.||Rest of World|
|11||OFFICE SUPPLIES MARKET OPPORTUNITIES|
|12||OFFICE SUPPLIES MARKET TRENDS|
|13.1.||Demand Side Analysis|
|13.2.||Supply Side Analysis|
|14||VALUE CHAIN ANALYSIS|
|17.1.1.||Porters Fiver Forces Analysis|
|18.1.||Office Depot, LLC.|
|18.9.||UCHIDA YOKO GLOBAL LIMITED|
Research Methodology for the Office Supplies Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global office supplies market were the three major steps undertaken to create and analyze the adoption of office supplies in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global office supplies market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the office supplies market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the office supplies market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as product type, and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the office supplies market. Further, we conducted factor analysis using dependent and independent variables such as various product type, and application of office supplies. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the office supplies market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global office supplies market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the office supplies market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global office supplies market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global office supplies market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of product type, and application in the global office supplies market.
The main objective of the Global Office Supplies Market Study
The current & future market trends of the global office supplies market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the office supplies market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of product type, and application.
- Define and analysis of the regulatory framework for the office supplies
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the office supplies market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the office supplies market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry