Office Supplies Market Share to Grow at a CAGR of 2.4% in the Forecast Period of 2023-2028

SHERIDAN, WYOMING, UNITED STATES, March 28, 2023 /EINPresswire.com/ -- The ‘Global Office Supplies Market Share, Size, Trends, Price, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global office supplies market, assessing the market on the basis of major regions.

The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.

The key highlights of the report include:

Market Overview (2018-2028)

• Forecast CAGR (2023-2028): 2.4%

Increasing establishment of various commercial infrastructure globally including banks, educational institutes, and corporate workplaces is a major driver in the office supplies market. The growth of the market is also being supported by automation and integration of industry and IT, which has resulted in increased demand for printer and computer supplies. Increased application of toner cartridges due to rise in printing activities has further driven the growth of the market for office supplies.

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Easy availability of office supplies through various channels such as online and offline stores along with extensive investments in advertisement campaigns for increasing brand awareness and overall sales by key players is impelling the growth of the market for office supplies. Rising demand for internet of things (IoT) compatible smart projectors, desks, chairs, and other office supplies coupled with rapidly growing corporate sector is further propelling the growth of the market. The office supplies market is aided by the increasing emphasis on education, rising job opportunities, and growing literacy rates, alongside rising geographical capabilities of various MNCs.

Office Supplies Industry Definition and Major Segments

Office supplies are equipment that are used regularly in offices and businesses, among others so as to perform daily work tasks. Office supplies include but are not limited to papers, paper clips, envelopes, binders, labels, tapes, pencils, pens, file folders, toner cartridges, rubber bands and scissors. As office supplies are used frequently, they are typically purchased in bulk volumes.

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Based on region, the market is segmented into:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Office Supplies Market Trends

The key trends in the office supplies market include increasing office renovation and decorating activities in order to keep pace with the latest trends. Growing popularity of self-branded and personalised stationary items has increased due to rising prevalence of social media and online stores offering personalised stationary products at affordable prices. Increasing initiatives are being taken by various companies so as to provide recyclable and sustainable office supplies in order to address environmental concerns, which has also positively impacted the growth of the market.

Proliferation of smartphones and rising preference for e-commerce platforms for purchasing supplies due to additional discounts, free delivery options, and growing convenience are key trends contributing towards the growth of the office supplies market. The trend of hybrid and fully remote work has resulted in increased purchasing of office supplies by office employees and freelancers. Growing investments by key market players to introduce online portal categories and virtual stores for office supplies has made shopping more convenient for customers. Increased inclusion of non-core office supplies such as break room supplies, technical equipment, and janitorial supplies are fuelling the growth of the market for office supplies.

In regional terms, Latin America, particularly Brazil and Mexico, are witnessing steady growth because of rise in number of offices and job activities. In the Asia Pacific, introduction of various campaigns by several governments is propelling the market growth.

Key Market Players

The major players in the global office supplies market are:

Staples Inc.
Office Depot, Inc.
Lyreco Group
Amazon Inc.
Marken Limited
Deli
Arcadia Technologies Private Limited
Ryman
Others

The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

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