Office supplies comprise a variety of materials that organizations of all sizes & types use on a daily basis. The most common ones include printer inks & toners, paper shredders, coin-counting devices, envelopes, organizers, etc. Due to the coronavirus pandemic, most paperwork is shifting to digital platforms, and home-office has become the new norm across almost every country globally.
As a result, the entire office supplies industry has been observing a steady decline in its growth for the past couple of years with the significantly reducing demand for desk & binding supplies and core stationery items like pens & papers. Earlier, papers, inks, & toners had a major share in the industry. However, since then, it has been contracting with each passing year.
Besides, most private & public offices dealing in consumer services are adopting digital platforms to enable hassle-free customer experiences and, in turn, leading to the diminishing sales of paper stationery worldwide. However, the rapid digitalization across different sectors and the emerging trend of online ordering of office products globally are projecting lucrative prospects for the office supplies industry over the coming years.
The Global Office Supplies Market is projected to grow at a CAGR of around 3.9% during the forecast period, i.e., 2022-27. The market is driven primarily by the rapidly expanding online platforms and growing demand for customized office supplies. Various green initiatives worldwide leading to the rising inclination of organizations & individuals toward recyclable stationery products, especially across developed countries, are also projecting profitable opportunities for the global market through 2027.
|Study Period||Historical Data: 2017-20|
|Base Year: 2021|
|Forecast Period: 2022-27|
|Regions Covered||North America: USA, Canada|
|Europe: Germany, France, Italy, UK, Russia|
|Asia-Pacific: China, India, Japan, South Korea, Australia|
|South America: Brazil|
|Middle East & Africa: Saudi Arabia, Israel, Turkey|
|Key Companies Profiled||Aurora Corporation, Fursys Inc., Global Furniture Group, HNI Corporation, Haworth, Herman Miller,, Haworth, Inc. Inaba Seisakusho Co. Ltd., Itoki Corp., Inter IKEA Systems B.V., Knoll Inc., Kimball International, Kokuyo Co. Ltd., Okamura Corporation, Steelcase Inc., Uchida Yoko Global Ltd., UE Furniture Co.|
|Unit Denominations||USD Million/Billion|
The trend of remote working & learning has significantly impacted the types of office supplies end-users purchase nowadays. Digital platforms have revolutionized the way consumers explore, compare, & buy products. Some of the notable changes in the consumer pattern include their ever-evolving requirements, technological advancements, reducing sales of conventional office supplies, and increasing competition.
Like most sectors, the global office supplies market is witnessing numerous advantages due to technological advancements. The leading manufacturers & suppliers are increasingly adopting different online distribution channels like mobile apps, social media sites, etc., to boost their digital presence & promote their product offerings to a larger audience. Hence, it shall further create a remunerative growth prospect for the global market over the coming years.
Key Trend in the Global Office Supplies Market
The increasing awareness about eco-friendly products worldwide has led to a substantial fall in the sales of paper-based office supplies since more and more consumers now prefer buying products manufactured from recycled materials.
As a result, various green initiatives globally for minimizing the negative environmental impact are refraining customers from purchasing traditional office supplies. Hence, the leading manufacturers & suppliers are actively working toward providing sustainable products, thereby maintaining the go-green trend in the Global Office Supplies Market.
Impact of Covid-19 on the Global Office Supplies Market
The advent of Covid-19 in 2020 was among the most prominent growth restraints for the Global Office Supplies Market. There were significant disruptions in the supply chains due to nationwide lockdowns and trade & movement restrictions. Amidst the pandemic, offices got shut down & employees had to adopt work-from-home policies. As a result, organizations stopped purchasing core stationaries like pens & papers as they were working remotely through digital platforms, which, in turn, hampered the sales of paper-based office supplies and negatively impacted the growth of the global market.