Global Office Stationery and Supplies Market to Reach $180.8 Billion by 2026

Global Office Stationery and Supplies Market to Reach $180.8 Billion by 2026
Office supplies refer to equipment and consumables that are consumed on a day-to-day basis on offices by organizations, and individuals. The supplies are used for written communications, recordkeeping, data storage and supplies and other purposes. Office supplies range from small dispensable daily use products to high cost computers and printing equipment. The market is characterized by a diversified 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, and producing physical documents. Amid the COVID-19 crisis, the global market for Office Stationery and Supplies estimated at US$150 billion in the year 2020, is projected to reach a revised size of US$180.8 billion by 2026, growing at a CAGR of 3.2% over the analysis period. Computer/Printer Supplies, one of the segments analyzed in the report, is projected to record a 4% CAGR and reach US$69.3 billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Paper Products segment is readjusted to a revised 2.5% CAGR for the next 7-year period.

The U.S. Market is Estimated at $37.6 Billion in 2021, While China is Forecast to Reach $31.8 Billion by 2026
The Office Stationery and Supplies market in the U.S. is estimated at US$37.6 billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$31.8 billion by the year 2026 trailing a CAGR of 3.9% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.3% and 3.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.7% CAGR. Environmentalism looms large with 'green' products and private labels are gaining wider acceptance among consumers due to growing environmental concerns. Green initiatives for minimizing environmental impact from office supplies production are designed to deter users from buying office supplies made of paper. Customers are also themselves organizing go-green initiatives for reducing carbon footprint and an important activity in such initiatives is opting green products. Innovative products such as manila folders produced from recycled fibers and eco-friendly clipboard made of 100 percent recycled plastic are some of the notable examples of new office products.