The global dropshipping market is forecast to grow at a compound annual growth rate (CAGR) of more than 27% during the forecast period from 2021-2027.
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Dropshipping is an online retail fulfillment method that involves a seller not keeping their products in a physical store but instead buying the items from outside vendors and shipping them straight to the customer. In this way, the cost of handling the product decreases. In contrast to retail methods, dropshipping does not hold inventory or establish any relationship with the merchant. Various industries, including electronics, toys, personal care, and fashion, use dropshipping to deliver goods to consumers quickly and efficiently. Modern e-commerce technology has enabled the dropshipping model to succeed and has given it a lot of opportunities.
Factors Affecting the Market
- Online shopping, coupled with the increasing trend of cross-border online trade, is expected to drive the e-commerce market to witness significant growth. Therefore, the growth of e-commerce has been significantly responsible for the rise in demand for dropshipping services.
- Traditional distribution channels require retailers to invest large amounts of money in inventory management. Despite this, retailers opt for dropshipping services to reduce capital expenditures on inventory management and purchase. Furthermore, dropshipping is becoming more popular among retailers due to fewer capital investments in inventory and logistics. The low overhead costs and the variety of products are other factors projected to drive market growth.
- Fraudulent or unauthorized transactions anticipate impeding the market’s growth. Since dropshipping involves primarily online transactions, payment security is one of the primary concerns. Security breaches and cyberattacks pose a risk to payment gateways, posing a challenge to the market. In order to prevent late deliveries, damage, or loss of parcels, dropshipping services require a delivery infrastructure. Therefore, the shipping and logistics of products may restrain the market’s growth.
Impact Analysis of COVID-19
There has been a negative impact on the dropshipping market as a result of the COVID-19 outbreak. The disruption in supplier, manufacturer and logistical activities delays the delivery of products. Numerous logistics companies have been unable to operate normally because of the epidemic of virus-infected patients in the U.S. Dropshipping players dominate the U.S. dropshipping market, and slower than usual growth during the COVID-19 crisis means the dropshipping market valuation in 2020 will be lower.
Regional Overview
The North American market expects to thrive due to evolving consumer behavior and market trends, such as mobile e-commerce and voice-enabled virtual assistants and chatbots. Online shopping platforms are also attracting consumers due to the ease of ordering and return procedures. The United Nations Conference on Trade and Development (UNCTAD) reports that e-commerce sales in the United States were USD 753.0 billion in 2017. Sales in the region’s e-commerce sector will provide opportunities for dropshipping firms, such that the market will grow.
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Prominent Players
The leading competitors in the global dropshipping market are:
- BASF SE (Europe)
- AliDropship (U.S.)
- Doba, Inc. (U.S.)
- Johns Manville (U.S.)
- Inventory Source (U.S.)
- Orderhive (U.S.)
- Kingspan Group Plc (Europe)
- Knauf Insulation GmbH (U.S.)
- Lloyd Insulations (Asia-Pacific)
- L’isolante K-Flex s.p.a (Europe)
- Owens Corning Corporation
- Rockwool International A/S
- Saint Gobain S.A. (U.S.)
- Oberlo (Europe)
- SaleHoo Group Limited (Asia Pacific)
- U.P. Twiga Fiberglass Limited (Asia-Pacific)
- Other Prominent Players
Segment Analysis
The dropshipping market segmentation focuses on Product Type, Organization Size, and Region.
Segmentation based on Product Type
- Toys
- Hobby and DIY
- Furniture and Appliances
- Food and Personal Care
- Electronics and Media
- Fashion
- Others
Segmentation based on Organization Size
- Small & Medium Enterprise
- Large Enterprise
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Segmentation based on Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
Key Questions Answered in The Report:
- What are the strengths and weaknesses of the key vendors?
- Who are the Leading key gamers and what are their Key Business plans in the close to future?
- What will be the market increase price and measurement in the coming year?
- What are the principal key elements riding the market?
- What are the key market tendencies impacting the increase of the world Market?
- Which are Trending elements influencing the market shares of the pinnacle areas throughout the globe?
- What is the have an effect on of The Russia-Ukraine Crisis on the modern industry?
- Who are the key gamers and what are their strategies in the international Market?
- What are the market opportunities and threats confronted by using the carriers in the world Market?
- What industrial trends, drivers, and challenges are manipulating its growth?
- What are the key consequences of the 5 forces evaluation of the world industry?
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