New Study from StrategyR Highlights a $168.7 Billion Global Market for Office Stationery and Supplies by 2026

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Jun 03, 2022, 07:35 ET

SAN FRANCISCO , June 3, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Office Stationery and Supplies - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
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New Study from StrategyR Highlights a $168.7 Billion Global Market for Office Stationery and Supplies by 2026

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Edition: 22; Released: April 2022
Executive Pool: 19174
Companies: 354 - Players covered include 3M; A.T. Cross Company; ACCO Brands Corp; Aurora Corp. of America; Ballarpur Industries Limited; Beifa Group Co., Ltd; Brother International Corporation; Canon Inc; Cenveo Worldwide Limited; Deli Company; Dixon Ticonderoga; Domtar Corporation; Faber-Castell; G M Pens International (RORITO); Hamelin Group; ICO; KOKUYO Co, Ltd.; Lyreco UK Limited; Office Depot, LLC; Shanghai M&G Stationery Inc.; Shenzhen Comix Group Co., Ltd.; Staples, Inc.; Veritiv Corporation; Wenzhou Aihao Pen Trade Co., Ltd.; WHSmith PLC and Others.
Coverage: All major geographies and key segments
Segments: Product (Computer / Printer Supplies, Paper Products, Stationery / Mailing Supplies, Desk Supplies, Filing Supplies, Binding Supplies, Other Products); Distribution Channel (Offline, Online)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

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ABSTRACT-

Amid the COVID-19 crisis, the global market for Office Stationery and Supplies estimated at US$152.7 Billion in the year 2022, is projected to reach a revised size of US$168.7 Billion by 2026, growing at a CAGR of 1.5% over the analysis period. Computer / Printer Supplies, one of the segments analyzed in the report, is projected to grow at a 2.2% CAGR, while growth in the Paper Products segment is readjusted to a revised 1% CAGR for the next 7-year period. The global market is gaining from the increasing purchases online and the growing trend towards flexible work space systems. Also, the rising number of offices worldwide in various sectors, particularly in emerging countries is driving gains in the market. Businesses in many industries are concentrating on expanding their global footprint by establishing offices in various regions, and this is auguring well for the market. Further, the increasing importance being given to education, and the improving work opportunities worldwide are benefiting the market. Latest office supplies are more portable in nature, given the free address office work style that is being followed in several organizations. Carrying cases (collapsible) that can hold masks, pens, file folders, and disinfectant spray bottles are being offered which can be used for work at homes, coffee shops, or in shared office spaces.

But due to the advent of COVID-19 and the closure of offices across the world as a result, a considerable slump in demand was witnessed in the market. With employees working from home and meetings being conducted online through video conferencing, the need for supplies such as markers, whiteboards, pens, and notepads decreased. But growing set-up of home offices is expected to offer some respite to the market. The market was also negatively impacted by the strict lockdowns, and supply chain disruptions during the pandemic period.

In the last few years, altering demographics have also quickened the decline in the market. At present, there exist over 15000 online competitors and this number is only rising. This poses challenges to companies such as Office Depot and Staples that have considerable infrastructure and significant overhead costs which the online companies do not have. With the traditional product categories such as paper, pens, pencils, toner, and ink registering a decline, focus of companies is now on offering services, as they are expected to offer better margins and differentiation. Considerable investments are also being made in e-commerce in a bid to achieve better growth.

The office stationery and supplies industry is characterized by a dispersed customer base with diverse choices. Despite the influx of computerized electronic devices that enable paperless work and provide digital methods for recording and storing information, stationery products continue to remain a vital part of office processes. Stationery products continue to hold significance in taking notes, marking symbols, drawing pictures, composing messages for correspondence, producing physical documents, or filling other details on a physical surface, typically paper. Though newer technologies such as computers and smartphones continue to gain prominence in office settings, traditional office supplies continue to command a significant share of the overall market.

Over the years, stationery products market experienced structural changes from product lines to distribution channels. Apart from the cyclical nature of the industry, yet another noticeable trend is the strong focus of manufacturers on technology developments and product enhancements as a measure to ward off growing threat from Internet and digitalization. Growing proliferation of computers and mobile electronics such as tablets and smartphones discourage the need for stationery products such as paper and writing instruments. Against the backdrop, increasing focus on innovative products, unique by way of enhanced styling, design and concept is more or less a norm for stationery manufacturers. Environmentalism looms large with 'green' products and private labels are gaining wider acceptance among consumers due to growing environmental concerns. Growth in the global stationery market is also aligned with economic developments, cyclic/seasonal trends, technological innovations, lifestyle changes as well as demographic changes. Periods of economic recession usher in a new era of value driven consumer purchasing patterns with thrifty purchases of stationery among consumers, both enterprise and household consumers becoming the new order. Consumers even trade down to low-cost and even locally manufactured unbranded products as a measure to save expenses.

Expanding enterprise market, increase in number of offices, and growing number of working population are major factors fueling demand for a range of office use stationery products such as markers, files, folders, diaries, binders, organizers, and writing instruments. The number of start-ups and corporate offices emerging is a potential revenue generating opportunity for market participants. Co-working is also gaining acceptance across several countries due to the flexible working environment and savings in terms of operating costs. The flexible working space segment is proving to be a lure for leading companies and start-ups, presenting growth opportunities providers of office supplies. Future expansion of the market is likely to be facilitated by business growth, increasing gains for online platforms and rising demand for customized products. The market is also influenced by green initiatives and the increase in adoption of recyclable stationery products by businesses, with the trend being more prominent in developed countries. Rising awareness about adverse impact of non-recyclable materials such as plastics on the environment is driving the adoption of recyclable commodities. The trend is prompting vendors to offer stationery products made using recyclable materials. Companies such as Amazon.com, Staples and Office Depot have started offering sustainable products including letterhead and office papers. These developments are bound to influence the global market for office stationery and supplies sin the coming years.

By type of office supplies, the declining consumption of paper-based commodities due to rising IT integration and automation presents tremendous growth opportunity for the computer & printer supplies market. In addition, ongoing transition of consumers from tri-color toward ink-cartridges due to their high print quality is anticipated to fuel the demand for printing supplies. By distribution channel, the offline segment commands a significant share of the global office stationery and supplies market. The segment is estimated to retain it strong position in the coming years, although growing at a relatively lower rate due to rising popularity of the online channel. The offline segment will witness driven by increasing purchases of stationery and other office supplies from traditional retail stores. The growing popularity of the online platform is poised to support the office supplies market. With its numerous benefits, e-commerce is driving various vendors to go online without investing in staff and physical infrastructure while covering a broader client base. The online channel is likely to also gain from adoption of automated billing or checkout points along with increasing investment in marketing and advertising activity by retailers. In addition to launching their online portals and offering a comprehensive range of options to customers, vendors are leveraging other online formats including mobile-based apps and social networking platforms to target customers.

The market also faces various challenges. The increasing adoption of smart mobile devices coupled with technologies such as the cloud is reducing consumption of paper for fax machines and photocopiers. Virtual offices and green initiatives are further hindering the demand for paper across corporate offices. The market growth is also affected by declining sale of products at the offline channel, which is credited to growing popularity of online platforms. More

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About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

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www.StrategyR.com
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