Office Supplies Market Size, Share & Trends Analysis Report By Product (Printing Papers, Notebooks & Notepads), By Distribution Channel (Offline, Online), By End-use (Corporates, Hospitals), By Region, And Segment Forecasts, 2023 - 2030

Office Supplies Market Size, Share & Trends Analysis Report By Product (Printing Papers, Notebooks & Notepads), By Distribution Channel (Offline, Online), By End-use (Corporates, Hospitals), By Region, And Segment Forecasts, 2023 - 2030

Office Supplies Market Growth & Trends

The global office supplies market size is expected to reach USD 179.74 billion by 2030, according to a new report by Grand View Research, Inc., registering a CAGR of 2.1% from 2023 to 2030. Product consumption is growing owing to an increasing number of corporate offices as well as an increase in the number of hotels around the globe catering to the rapidly growing demands of the tourism industry. The COVID-19 pandemic had a negative impact on the market growth. The pandemic has increased the pace of digitalization of office spaces, adversely affecting the demand for traditional office supplies. However, the pandemic gave a boost to the trend of remote working, which caused drastic changes in the patterns of product consumption. An increasing phenomenon in the market is the adoption of sustainable and eco-friendly products by companies to reduce their carbon footprint.

In May 2021, BIC announced a partnership with TerraCycle, Inc. to launch a brand-new recycling program for their writing supplies equipment. This move was in line with the company’s push for eco-friendly products. Asia Pacific is anticipated to be the fastest-growing regional market with a CAGR of around 2.6% from 2023 to 2030. This is owing to high product consumption by the education sector in countries, such as China, India, and Bangladesh. Key companies in the global market undertake various business strategies, such as new product launches, M&As, and partnerships, to gain higher market shares. In November 2022, 3M's brand 'Scotch' launched a new product line, 'Packt', featuring envelopes, mailers, and boxes of different sizes and colors. The new product line also includes packaging tape and packing paper that come in creative designs to secure and seal the contents of packages.

Office Supplies Market Report Highlights

• The paper supplies segment accounted for the maximum share of 25.9% in 2022 due to a rise in the number of corporate offices as a result of the growing services sector worldwide. For instance, according to the Economic Survey 2022-23 by the Ministry of Finance, the service sector in India grew by 8.4% in the financial year 2022 compared to a contraction of 7.8% in the financial year 2021
• The online distribution channel segment will register the highest CAGR of 3.4% from 2023 to 2030. The increased internet penetration, along with greater accessibility to affordable smartphones & internet services, has accelerated the transition from traditional brick-and-mortar stores to online platforms
• The corporate end-use segment accounted for a dominant share of 33.3% in 2022 owing to the increased establishment of various offices and number of office products suppliers & and manufacturers worldwide

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