Market Definition
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.
Market Insights
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.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2017-20 |
| Base Year: 2021 | |
| Forecast Period: 2022-27 | |
| CAGR | 3.9% |
| 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.
Market Segmentation
Based on Type:
Amongst them all, the printer & scanner supplies are projected to dominate the Global Office Supplies Market during 2022-27. It owes principally to their ever-increasing requirements across the manufacturing, healthcare, & banking sectors, globally. With rapid mechanization & IT integration across many industries, the demand for paper-based office supplies has been steadily reducing, especially in developed regions.
Moreover, with the emerging trend of work-from-home after the Covid-19 pandemic, a majority of organizations have shifted their paperwork to digital platforms, i.e., another crucial reason behind the declining sales of paper-based products and growing adoption of printer & scanner supplies.
Additionally, the shift of consumers from tri-color to single-color ink cartridges to attain high-quality prints has also contributed to the mounting sales of printing supplies worldwide, which, in turn, is projecting lucrative prospects for the global market in the forecast years.
Based on Distribution Channel:
Here, online stores have been gaining significant momentum in the Global Office Supplies Market, especially after the advent of Covid-19 in 2020, mainly due to the time & cost efficiency they offer to consumers. Over recent years, online platforms have arisen as the most efficient & cost-effective channels to purchase various office supplies, wherein SMEs (Small & Medium Enterprises) & at-home businesses are the most prominent end-users. These stores offer office supplies at lower prices than offline retailers, along with the at-home shopping convenience, a variety of product choices, easy & multiple payment modes, & flexible deliveries.
As a result, the leading players in the global market are increasingly inclining toward online distribution channels, particularly across emerging countries where there are rapid infrastructure developments & sharp consumer price sensitivity, thereby projecting profitable prospects for the global market during 2022-27.
Regional Landscape
Geographically, the Global Office Supplies Market expands across:
Of all regions globally, North America & Asia-Pacific are the most prominent contributors to the growth of the Office Supplies Market. In North America, the burgeoning production of customized office supplies, the ever-increasing prevalence of online shopping, rising awareness about products like staple-free staplers, reusable paper & notebooks, & eco-friendly pencils & pens, among others, manufactured through recycled materials, and the booming IT & BFSI sectors are prime aspects driving the regional market.
The leading market players across North America, especially in the US, are enhancing their production & supply capacities by introducing more products and investing massively in moving to online distribution channels. Moreover, the extensive presence of the major suppliers & manufacturers of office products, accelerating establishment of numerous offices and soaring business development activities have also been fueling the production & sales of office supplies across the region for the last couple of years.
On the other hand, the growing number of SMEs is the prime aspect boosting the demand for office supplies across Asia-Pacific, with India, China, & Japan witnessing a considerable market growth owing to the rapidly expanding service sector on account of the mounting influx of various MNCs due to favorable government policies.
Furthermore, the growing economy of major countries across Asia-Pacific and overall improving work conditions, coupled with rapid urbanization, i.e., leading to increasing construction of various IT parks & commercial complexed, are other crucial aspects projected to drive the regional market in the years to come.
Key Questions Answered in the Market Research Report:
Frequently Asked Questions
A. The Global Office Supplies Market is expecting around 3.9% CAGR during the forecast period i.e., 2022- 27.
A. The increasing inclination of the leading manufacturers & suppliers of office products toward online distribution channels to scale their product offerings across an extensive customer base is the key driver of the Global Office Supplies Market through 2027.
A. Printer & Scanner supplies are anticipated to emerge as an area of remunerative opportunities for the leading players in the Global Office Supplies Market over the forecast years.
