Office Supplies Market Size, Share & Industry Analysis, By Product Type (Desk, Filing, Binding, Computer/Printer, and Others), By Application (Enterprises, Household, Educational Institutions, and Others), and Regional Forecast, 2024-2032

The global office supplies market size was valued at USD 168.74 billion in 2023. The market is projected to grow from USD 177.53 billion in 2024 to USD 198.98 billion by 2032, exhibiting a CAGR of 1.44% during the forecast period. Asia Pacific dominated the office supplies market with a market share of 49.91% in 2023.

Businesses essentially use computers, printers, and other administration-purpose staples to carry out written communication, bookkeeping, and data storage activities. Evolving global corporate sector is mainly supporting the demand for such products. Nowadays, key companies focus on ensuring quality, affordability, and on-time delivery of the products to maintain their position in the global market. For instance, in October 2021, ODP Corporation owned Office Depot, a business’s solutions, stationeries, and technology provider, launched ’20 Minute Pickup Promise’, an in-store and curb-side product pickup service to timely delivery business stationeries in the U.S.

During the COVID-19 pandemic, office closures and reduced occupancy levels due to social distancing measures resulted in decreased footfall at physical office supply stores. Businesses also scaled back their procurement of office supplies, opting to minimize their expenses and conserve resources during periods of economic uncertainty. On the other hand, the shift to remote work prompted an increased demand for home office equipment and supplies. This led to a surge in sales of items, such as ergonomic chairs, standing desks, monitors, and webcams.

Office Supplies Market Trends

IoT-based Office Stationeries is a Prominent Trend Boosting Market Expansion

IoT-enabled office stationery devices, such as smart printers, scanners, and copiers can connect to the internet and communicate with other devices and systems in the office environment. Therefore, increasing consumer preference for IoT-based office supplies will offer newer opportunities for companies in the administration-purpose equipment industry. Additionally, regular companies’ efforts in offering sustainable & recycled material-based office supplies are creating newer avenues for office supplies industry growth. For instance, in April 2021, BIC Corporation, a U.S.-based school stationery maker, introduced a range of recycled plastic material-based school goods, including ball pens, pencils, toner cartridges, permanent markers, and correction tapes in the U.S. Besides, evolving renovation and decoration trends across the global business corporations will upsurge the official-purpose products demand.

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Office Supplies Market Growth Factors

Growing Commercial Infrastructural Settings to Upsurge Product Demand

Commercial settings, such as corporate workplaces, educational institutions, banks, and others regularly use computers, desks, and other goods to carry out their official work. Therefore, growing commercial, infrastructural settings will support the product demand globally. For instance, from January 2021 to June 2021, JLL India, a real estate developer, reported a new supply of official-purpose spaces in India to 25.11 million Sq. Ft., a 75% jump over the previous year.

Furthermore, governmental assistance in developing commercial, infrastructural settings in many countries globally further supports the products’ consumption rate. For instance, in July 2020, the Government of the U.S. reintroduced its America School Act (H.R.2) to offer a fund of USD 100,000 million to help & modernize low-income and high need communities over five years.

Rising Number of Working Professionals to Ease the Product Demand

Businesses that are growing their operations often need to expand their office spaces or set up new workstations to accommodate additional employees. This expansion requires the procurement of office furniture, equipment, and supplies to furnish the workspace. Moreover, growing awareness regarding the availability of office supplies among businesses and corporate professionals is further driving the product demand.  Additionally, increasing global populations’ emphasis on education & literacy and rising job opportunities support market growth. According to the statistical data presented by the U.S. Bureau of Labor Statistics, in September 2021, the number of hired professionals in the U.S. reached 6.5 million, 4.4% up over the previous month.

RESTRAINING FACTORS

Higher Cost of Raw Material Supplies to Impact the Market Growth

The higher cost of raw material supplies poses challenges to the companies in procuring activities, thereby impacting their business revenues. Additionally, increasing adoption of the advanced technology-based ERP digital platforms, such as Quickbooks, Xero Accounting, and others among the organizations for communication & bookkeeping purposes will decline the consumer demand for pens, pencils, and other traditional stationeries, hampering the industry growth. Besides, huge competition among the organization staple retailers, office supplies wholesalers and office supplies organizers is hampering the organizational staples market growth.

Office Supplies Market Segmentation Analysis

By Product Type Analysis

Others Segment Holds a Significant Global Market Share due to Its Rising Demand

The global office supplies market analysis is based on product type, such as desk, filing, binding, computer/printer, and others. The others segment includes various products, such as writing stationeries, calendars, planners, organizers, clips & fasteners, and tapes & adhesives.

The others segment holds a major market share due to the large consumer demand for organizational stationeries, calendars, and writing stationeries, such as pens, pencils, papers, and others for official purposes. Additionally, shifting consumer demand toward pens & papers made of eco-friendly materials, such as recycled plastic and bamboo will surge the segmental growth.  

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The desk segment will grow faster with the key companies' regular introduction of innovative technology-based desk stationeries, such as table & chair furniture. For instance, in May 2021, Xiaomi Corporation launched ‘Backrobo,’ a smart official-purpose chair in the Chinese market. Additionally, the rising demand for ergonomically designed chairs globally remote working populations will further support the desk segment growth. 

Students regularly use papers, files and folders to complete their project submission activities. Therefore, growing education & literacy awareness across the globe, middle & lower-income population groups are driving the filling & binding segmental growth. Advancement in digital printing technology and computer equipment technology upgradation is mainly fueling the computer/printer segmental growth.

By Application Analysis

Educational Institutions’ Segment Leads the Market due to Growing School & College Infrastructural Settings

Based on the application, the global market is segregated into enterprises, household, educational institutions, and others. The educational institutions segment holds a major market share owing to the large demand for the different kinds of stationeries, such as pen, pencil, and others among schools & colleges for their daily teaching & administration activities. Additionally, growing school & college infrastructural settings globally drive segmental revenues.

The enterprises segment will grow faster due to the growing number of official & organizational establishments globally. Additionally, evolving start-up culture among the young entrepreneurs & business professionals is skyrocketing the product demand among in the segment.

The household segment is mainly driven by the growing popularity of the work-from-home working style among corporate professionals.

The others segment includes various application areas, such as grocery stores and supermarkets. Growing awareness regarding the accounting & bookkeeping activities among the small & medium-sized grocery retailers is supporting the official-purpose staples demand among such retailers thereby, driving the others segment growth.

REGIONAL INSIGHTS

Based on regions, the global market is segregated into the Asia Pacific, South America, North America, the Middle East & Africa, and Europe.

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The market in Asia Pacific was valued at USD 84.21 billion in 2023. Asia Pacific dominated the global organizational-purpose equipment market due to the large consumption of the different kinds of official-purpose equipment among the Chinese, Japanese, and Indian populations for their regular usage. For instance, SHANGHAI M&G STATIONERY INC., a Chinese corporate staples maker reported a 37.62% increase in its net revenues and reached USD 2,765.52 million (RMB 17.60 billion) in 2021. In addition, according to the statistical data presented by the China Writing Instrument Association (CWIA), in 2020, 212 member organizations of the China Writing Instrument Association recorded USD 2,217.93 million in revenues from their writing instruments from the Chinese market.

Additionally, large import/export facilities of the stationery & official-purpose products in Japan & China further support the products’ consumption rate in the region. According to the data presented by International Trade Centre, Department of Statistics (ITC), in 2022, USD 215.52 million value of plastic-based office & school supplies were imported in the Japan.

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North America holds a considerable market share on account of huge the U.S. consumers’ spending on educational staples. According to Education Data Organization’s data, in 2020, total K-12 schools’ spending in the U.S. reached USD 640 billion. Furthermore, governmental support in offering relief to the small business organization further supports the products consumption rate among the organizational settings in Canada and Mexico. For instance, in May 2020, the Federal Government of Canada announced a 75% rent relief for small Canadian businesses to help them in the COVID-19 related lockdown situation.

Europe will grow faster for the global organizational staples industry on account of robust import facilities of the organizational staples in Germany, the U.K., and France, thereby driving the products’ consumption rate in the region. According to the data presented by the International Trade Centre (ITC), in 2020, the import value of the organization & school staples in Germany reached USD 116.28 million. Additionally, growing school facilities further drive the region’s products’ demand.

Evolving corporate industries and favorable trade relations among the UAE and Saudi Arabia mainly support market growth in the Middle East & Africa region.

The growing number of middle-income population groups in Brazil primarily supports the products’ consumption rate in the South American region.

List of Key Companies in Office Supplies Market

Product Innovation and Expansion Are Prominent Strategies Accelerating Market Development

Companies manufacturing office supplies continuously innovate by introducing new products that cater to the emerging trends and preferences at workplace. These may include innovative stationery items, ergonomic office furniture, eco-friendly supplies, and cutting-edge electronic devices. Besides, nowadays, staple and office depot companies keenly focus on offering high-quality and innovative office supplies online to increase their revenues from such products. Additionally, they focus on enhancing their supply chain efficiencies to scale their business in the newer markets. For instance, in October 2020, Office Depot, a corporate stationeries & solutions provider, partnered with CommerceHub, a leading e-commerce enabling platform, to improve its supply chains’ efficiency in the European market.

LIST OF KEY COMPANIES PROFILED:

• 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.)

KEY INDUSTRY DEVELOPMENTS:

• February 2023: Nauticon Office Solutions, an institution-use equipment supplier acquired Digital Office Products (DOP)’s to build its business solutions portfolio.


• July 2022: Clares partnered with prism to establish a company The Business Supplies Group (BSG) and supply office products, print production & print management services, interiors, and corporate merchandising solutions in the U.K. and Europe.


• March 2022: Filex Systems Private Limited, an Indian manufacturer of stationery products under brand ‘SOLO,’ expanded its presence by launching premium-based products, such as desktop organizers, writing stationery products, laptop accessories, files, folders, and other staples in the Middle East & African market.


• November 2021: Bureau Vallee, a French school stationery maker adopted Openbravo software as a part of its technological base to enhance its supply chain capabilities in France, Belgium, and other 13 European countries.


• January 2021: Staples Inc. acquired Office Depot, an American stationery products maker to strengthen its market position in an American corporate staples industry.

REPORT COVERAGE

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The market research report analyzes the market in-depth and highlights crucial aspects such as prominent companies, product types and application areas. Besides this, the office supplies market outlooks insights into the market trends and highlights significant industry developments as well as competitive landscape. In addition to the aspects mentioned earlier, the report encompasses several factors contributing to the market's growth over recent years.

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Report Scope & Segmentation