Fort Collins, Colorado, Oct. 13, 2023 (GLOBE NEWSWIRE) -- According to DataHorizzon Research, the dropshipping market size was valued at USD 231.2 Billion in 2022 and is expected to reach USD 1,414.3 Billion by 2032 at a CAGR of 19.9%.
Dropshipping is a method for order fulfillment that enables online retailers to contract with a third party, usually a supplier, to handle the tasks of acquiring, storing, and shipping their products with a dropshipping business strategy, sellers can skip investing in capital for the purchase of inventory, or renting/buying a physical store; instead, they only have to fulfill orders to the customers.
Entrepreneurs seeking speed and low expense favor this delivery approach, but there may be a cost, especially for client experience. A seller advertises the products on an online store or a website, and whenever the customer places an order, the order is sent to the dropshipper, and the other process is taken care by the dropshipper right from order processing to delivery.
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Unlike traditional retail methods, dropshipping has low initial investments as managing the warehouses and stock inventories gets deduced. The availability of e-commerce platforms and technologies has made setting up an online business and integrating with dropshipping suppliers reasonably simple. This makes it possible for new competitors to enter and take off swiftly. The business can start with minimal investments, and the growing popularity of e-commerce and social media platforms helps promote the brands more effectively. This attracts higher sales and revenue, helping in dropshipping business growth.
Segmentation Overview:
The global dropshipping market has been segmented into product, destination, and region. The electronics segment dominates the market based on the product. The segment growth is due to the increasing demand for electronics globally. With the increase in B2C businesses worldwide, audiences have wider options. Moreover, the fast shipping and easy returns help the segment grow. Asia Pacific dominates the dropshipping market in the forecast period. The market growth is attributed to the boom in the e-commerce sector in the region and the increasing sale of smart devices like laptops, mobiles, and tablets.
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Dropshipping Market Report Highlights:
- The global dropshipping market growth is anticipated at a CAGR of 19.9% by 2032.
- The rising popularity of dropshipping services in the e-commerce industry has accelerated the demand for online services.
- Clothing is the fastest-growing segment in the forthcoming years. The rise in the prevalence of online shopping has resulted in segment growth.
- International destinations are booming in the dropshipping industry due to the growing demand for specific products.
- Some prominent players in the dropshipping market report include Etsy, Inc., Megagoods Inc., Modalyst Inc., Shopify Inc., Amazon, Flipkart, Alidropship, Doba Inc., Inventory Source, Printify, Wholesale2b, Cin7 Orderhive Inc., SaleHoo Group Limited, and Sunrise Wholesale Merchandise LLC.
Industry Trends and Insights:
- In 2023, Boots, a health and beauty company, delayed its marketplace launch to focus solely on dropshipping.
- In 2023, SaaS platform Mirakl secured funding of USD 109.8 million through a revolving credit facility.
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Dropshipping Market Segmentation:
- By Product: Toys, furniture & appliances, electronics & media, food & personal care
- By Destination: Domestic, international
- By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
About DataHorizzon Research:
DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
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