Newark, July 20, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 200 billion in 2022 global dropshipping market will reach USD 1862.64 billion in 2032. Around 30% of online retailers fulfil customer orders through dropshipping. Dropshipping has become a credible sales and marketing option for new and emerging brands to expand their market base. Additionally, dropshipping in clothing or fashion is considerably more profitable than other items. Having social media presence increases the success rate of dropshipping. The profit margins in dropshipping have consistently shown an upward trend, reaching 15-20% in recent years. These figures indicate the lucrative business opportunities in the global dropshipping market that will continue to grow in the forecast period. The anticipated 3 billion smart connected devices ownership by 2025 in the Asia Pacific market alone indicates the conducive environment the dropshipping industry will witness during the forecast period.
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Key Insight of the Global Dropshipping Market
Asia Pacific is expected to dominate the market during the forecast period.
Dropshipping is in high demand because of China's large consumer market and India's expanding population. The young people in the area are increasingly turning to dropshipping as a source of additional income, which will further boost market expansion. Additionally, the rise in smart connected device ownership has fueled e-commerce expansion. The rise of internet shopping is good news for the dropshipping industry. Given the low investment costs and increased flexibility, the business model provides, a sizable number of small companies are converting to dropshipping to compete in the market environment. Important e-commerce market companies are also launching their dropshipping platforms, promoting the expansion and growth of the local market.
In 2022, the fashion segment dominated the market with the largest market share of 35% and market revenue of 70 billion.
The product type segment is divided into electronics, toys, furniture, health, fashion, DIY, personal care, household and kitchen care, food, and others. In 2022, the fashion segment dominated the market with the largest market share of 35% and market revenue of 70 billion.
In 2022, the domestic segment dominated the market with the largest market share of 67% and market revenue of 134 billion.
The domestic segment dominated the market, with a share of around 67% in 2022. In 2022, the domestic segment dominated the market with the largest market share of 67% and market revenue of 134 billion.
Report Scope:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | USD 200 Billion |
| Market Size in 2032 | USD 1862.64 Billion |
| CAGR | 25% |
| No. of Pages in Report | 236 |
| Segments covered | Product Type and Destination |
| Drivers | The growing preference for online shopping |
| Opportunities | The introduction of dropshipping product services |
| Restraints | The lack of control over the quality, shipping and logistics |
June 2023 - Doba, a well-known online dropshipping platform that connects suppliers and retailers, recently unveiled its special Independence Day Product Campaign. This unique occasion is intended to celebrate the Fourth of July's patriotic fervour and honour the spirit of freedom. With the campaign's outstanding selection of products, which will include everything from apparel and accessories to home goods and party supplies, stores will be able to satisfy the wide range of interests and preferences of their patrons. Doba has observed a significant increase in product demand with the Fourth of July themes.
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Market Dynamics
Driver: The inclination for online purchasing is growing.
Due to the social isolation, home delivery, simple payment methods, and convenience provided by e-commerce platforms, the covid-19-induced pandemic changed customer inclination towards online buying. Even after the pandemic, the positive rise of the internet shopping trend persisted as many businesses moved their sales to online channels. Demand for online shopping is anticipated to rise due to the broad selection of goods, brands, deals, payment methods, doorstep delivery, and simple returns from e-commerce platforms. Online shopping is expected to increase as smartphone ownership rises, more people have access to the internet, and data connectivity infrastructure expands. Increased digital literacy and beneficial government attempts to create an environment conducive to business growth will also accelerate the market's growth. Consequently, the rise of online shopping will fuel the expansion of the dropshipping industry globally.
Restraints: The need for logistics, shipping, and quality control.
Dropshippers are the middlemen who link supplier demand to consumer demand. The product quality that might be delivered to the customer is beyond their control. They have no control over logistics, delays, or shipment times. While this implies fewer problems with inventory management, it also means less responsibility and a higher chance of customer discontent, which can hurt the dropshipping brand. As a result, the market's expansion will be hampered by the need for more control over quality, shipping, and logistics.
Opportunities: The advent of readymade dropshipping platforms.
The market potential of dropshipping has been recognized by e-commerce platforms, small business owners, and other brands, promoting the development of product services that provide hassle-free creation of dropshipping websites or platforms. These devices provide digital tracking and verification technologies and automated vendor management services. Streamlining and integrating their product offers, orders, suppliers, and customers enable dropshippers to increase productivity, profitability, quality, customer satisfaction, and business. As a result, the launch of dropshipping product services such as automated inventory management, product catalogue builders, real-time product tracking, and supplier-customer relationship management will spur the market's growth over the projection period.
Challenges: The reliability of dropshipping platforms.
Dropshipping platforms are usually small and owned by a single individual. They need adequate infrastructure to build a secure, robust payment getaway that verifies transactions and safeguards the financial interests of consumers, suppliers and dropshippers. The increasing incidence of fraudulent transactions leads to brand image damage and declining credibility and trust. Consumers prefer trusted and large e-commerce platforms, given their institutional and systemic framework that ensures accountability. The lack of credibility, accountability and risk impact the sales and revenue of dropshipping. Therefore, the lack of reliability of dropshipping platforms will challenge the market's growth.
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Some of the major players operating in the global dropshipping market are:
• AliDropship
• Cin7 Orderhive Inc.
• Doba Inc.
• Inventory Source
• Megagoods Inc.
• Modalyst Inc.
• SaleHoo Group Limited
• Shopify Inc.
• Sunrise Wholesale Merchandise LLC
• Wholesale2b
Key Segments cover in the market:
By Product Type
• Electronics
• Toys
• Furniture
• Health
• Fashion
• DIY
• Personal Care
• Household and Kitchen Care
• Food
• Others
By Destination
• Domestic
• International
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirements whether they are looking to expand or planning to launch a new product in the global market.
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