Wilmington, Delaware, Nov. 09, 2023 (GLOBE NEWSWIRE) -- Allied Market Research recently published a report, titled, "Dropshipping Market by Product (Electronics, Fashion, Toys, hobby, and DIY, Furniture, Beauty, Health, Personal, and Household Care, Others), by Destination (Domestic, International): Global Opportunity Analysis and Industry Forecast, 2021-2031". The report indicates that the global market size for dropshipping is anticipated to value at $1,670.1 billion by 2031, having witnessed a value of $155.6 billion in 2021, with a noteworthy CAGR of 27.1% from 2022 to 2031. The report offers a comprehensive analysis of evolving market trends, prime investment opportunities, prominent market segments, regional overview, value chain, and the competitive landscape.
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Drivers, restraints, and opportunities:
The global dropshipping market is expanding rapidly due to a rise in disposable income and surge in smartphone penetration. However, illegal or fraudulent transactions restrain market growth to some extent. Nevertheless, expansion of the e-commerce industry will offer remunerative growth opportunities to the market players for selling several quality products like personal care & appliances, electronics, and foods.
The domestic segment held the highest market share in 2021
Based on destination, the domestic segment grabbed the highest market revenue in 2021, contributing to more than three-fourths of the total market revenue and is anticipated to retain its dominance throughout the forecast timeframe. Domestic dropshipping encompasses online transactions carried out within a single country's borders. These transactions encompass the buying and selling of products and/or services, which are subsequently delivered to the respective customers. On the other hand, the international segment would cite the fastest growth with 29.0% CAGR from 2022 to 2031. The growth is attributed to a surge in internet penetration that drives smartphone-using people across the globe. Digital content, travel and leisure, financial services, and e-tailing represent a diverse array of e-commerce choices accessible to the expanding customer base with the growing prevalence of internet usage.
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The beauty, health, personal, and household care segment to witness the fastest growth by 2031
In terms of product, the beauty, health, personal, and household care segment would cite the fastest CAGR of 31.1% throughout the forecast timeframe. This growth is driven by the rising popularity of fashion trends and significant advancements in cosmetic formulations and product formats, particularly in areas like hair color and skin care. Furthermore, numerous industry players are actively implementing digital marketing strategies, creating engaging advertisements, and promoting their products on social media platforms. This heightened marketing activity leads to increased product demand. On the other hand, the electronics segment garnered the major share in 2021, accounting for nearly one-fourth of the total market revenue. Moreover, the fashion segment is anticipated to lead the market in terms of revenue from 2022 to 2031, due to industry benefiting by accurate market strategies, favorite fashion choices, and innovative designs. The growth is attributed to expansion of online and e-commerce presence which resulted in surge in fashion awareness and made limited-edition products and high-class brands easily available.
North America garnered the major share in 2021
The regional analysis in the report states that North America garnered the highest market share in 2021, contributing to more than one-third of the market and is anticipated to continue its supremacy throughout the forecast timeframe. The market across the region is driven by a surge in e-commerce for purchasing and selling of goods and services. Additionally, literacy and digital skills are also expanding in Europe as internet users rise from 87% to 89% in the year 2020, which drives the growth of the market across Europe. Moreover, LAMEA region would manifest the fastest growth with 31.5% CAGR throughout the forecast timeframe. The robust economic growth in different countries across the LAMEA region has led to a heightened demand for advanced and enhanced technology. This has created opportunities for growth in the dropshipping market within the region. The dropshipping market in this area has reached a higher level of maturity, driven by the increasing adoption of B2B e-commerce, particularly in Africa. The report also discusses markets across Asia-Pacific and LAMEA regions.
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Leading Market Players:
- Wholesale2b.
- Cin7 Orderhive Inc.
- Printify
- Sunrise Wholesale Merchandise, LLC
- Shopify Inc.
- SaleHoo Group Limited
- Modalyst, Inc.
- Megagoods, Inc.
- Inventory Source
- Doba Inc.
- AliDropship
Regional/ Country Specific Reports We Have:
LAMEA Dropshipping Market Research Report 2023-2032
North America Dropshipping Market Research Report 2023-2032
Europe Dropshipping Market Research Report 2023-2032
Asia-Pacific Dropshipping Market Research Report 2023-2032
U.S. Dropshipping Market Research Report 2023-2032
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
