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Office Supplies Market to Hit USD 195.25 Million by 2030 | Driven by a Strong 2.1% CAGR
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Pune, India , Nov. 27, 2023 (GLOBE NEWSWIRE) -- The global office supplies market size stood at USD 156.44 billion in 2022 and the market revenue is anticipated to rise from USD 168.74 billion in 2023 to USD 195.25 billion by 2030, registering a CAGR of 2.1% from 2023 to 2030. Increasing usage of computers, printers, and other administration-purpose staples for written communication, bookkeeping, and data storage activities from several businesses is driving market growth. Fortune Business Insights™ shares this information in its report titled “Office Supplies Market, 2023-2030.”


Leading Players Featured in the Office Supplies Market Research Report

The OPD Corporation (U.S.)

Staples Inc. (U.S.)

ACCO Brands Corporation (U.S.)

Shoplet (U.S.)

SASCO Brands (Egypt)

The 3M Company (U.S.)

UCHIDA YOKO GLOBAL CO. LTD. (Japan)

Canon Inc. (Japan)

Wesfarmers Limited (Australia)

Tesco PLC (U.K.)



Segments

  • Growing Demand for Organizational and Writing Stationery is Boosting the Others Segment Expansion

By product type, the market is divided into desk, filing, binding, computer/printer, and others. The other segment involves different products, including writing stationeries, calendars, planners, organizers, clips & fasteners, and tapes & adhesives.

  • The other segment leads the global market. The increasing need for organizational and writing stationery and calendars, such as pens, pencils, papers, and others among consumers for official work, is driving the segment's growth.
  • Increasing Stationery Demand in Schools and Colleges is Fostering the Educational Institutions Segment Expansion

In terms of application, the market is segmented into enterprises, households, educational institutions, and others.

  • The educational institutions segment commands the global office supplies market share. Rising demand for a wide range of stationery, including pens, pencils, and others from schools & colleges for administrative and teaching needs is driving segment growth. Moreover, infrastructure developments in schools & colleges are stimulating the segment revenue.


Competitive Landscape

  • Top Market Participants Introduce Advanced Office Supplies to Boost their Revenues
  • Currently, top producers of staples are constantly working on introducing superior and advanced office supplies online to enhance their online sales of such products.


Drivers and Restraints

  • Increase in Government Support for the Development of Commercial and Infrastructural Settings to Fuel Market Growth.
  • Increasing adoption of computers, desks, and other products by working professionals to do their official tasks is driving the market growth. Office supplies are widely used in commercial spaces, such as corporate offices, educational firms, banks, and others. As a result, increasing commercial and infrastructural settings are expected to boost market growth in the coming years. An increase in government support for the development of commercial and infrastructural settings is boosting the demand for office supplies.
  • Nevertheless, the market expansion is restrained by the high cost of raw material supplies.


Regional Insights

  • Growing Consumption of Official-purpose Equipment Boosted Market Growth in Asia Pacific

The market size in Asia Pacific stood at USD 77.78 billion in 2022. The populations of China, Japan, and India are increasingly consuming various types of official-purpose equipment for their everyday tasks, propelling market growth in the region.

North America accounts for a prominent market share. An increase in consumers’ spending on educational staples in the U.S. is driving market growth in the region. The rate of product consumption within business environments in Canada and Mexico is being supported by a rise in governmental support for small business organizations by providing relief.


  • COVID-19 Impact

Reduced Demand for Stationeries in Official Settings amid the Pandemic Hindered the Market Growth

The coronavirus pandemic restrained the office supplies market growth. Decreased office visits by working professionals due to the COVID-19 pandemic hampered market expansion. Reduced demand for equipment and stationeries in official settings restricted market growth.On the other hand, the surging need for remote working essentials is propelling market growth.


Declaration: This article comes from globenewswire.com . If copyright issues are involved, please contact us to delete.

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