WASHINGTON, May 02, 2023 (GLOBE NEWSWIRE) -- Global Dropshipping Market is valued at USD 221.3 Billion in 2022 and is projected to reach a value of USD 931.9 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 22.8% over the forecast period 2023-2030.
Market Overview
The demand for exporting services is growing as a result of the growth of the e-commerce industry. Increased smartphone adoption and rising consumer disposable income are a couple of these reasons. Reduced capital expenditures in logistics and inventory have also raised the demand for Dropshipping among merchants. Yet, the problems preventing the Dropshipping business's expansion are fraudulent or illegal operations.
We forecast that the electronics category in Dropshipping market sales will account for more than 33.3% of the market share by 2030 due to increased demand for electronic goods. Since customers can evaluate a wide range of products, take advantage of discounts, and submit a simple return request, e-commerce platforms provide several opportunities for the sale of electronic goods.
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Market Dynamics
Growing Demand for Rapid Delivery of Packages will Support Market Expansion
The demand for better and more effective product delivery services has grown due to the rise of online shopping and consumers' propensity to purchase goods from online retailers. The COVID-19 epidemic has increased customers' inclination to order daily essentials online, which has aided in the rise of the Dropshipping industry. In China, for example, there has been a rise in e-grocery orders due to consumers' preference for online retailers like JD. com, Alibaba Group, and MTDP. Furthermore, JD.com in China has provided a platform for clients to engage directly with manufacturers in Wuhan to handle food and medical package deliveries to reduce the need to prevent direct contact among people.
Rising Usage of IoT to Boost Market Expansion
Small business owners can expand their clientele through Dropshipping, diversify their product offerings, and cut costs associated with inventory. The Dropshipping business model requires third-party logistics providers (3PL) to send goods. As a result, the retailer has little control over the supply chain and is unaware of the supplier's inventory levels. Now, the retailer can benefit from the Internet of Things (IoT), which can give updates on any on-the-shelf and off-the-shelf movement of a specific product in the supplier's inventory and real-time information about the supplier's inventory status. IoT-based solutions may make it possible for processes like automatically purchasing products from the manufacturer if inventory drops below a predetermined level to lessen the possibility of a stock-out scenario with the supplier.
Top Players in the Global Dropshipping Market
- Alidropship (U.S.)
- Doba Inc. (U.S.)
- Inventory Source (U.S.)
- Megagoods Inc. (U.S.)
- Modalyst Inc. (U.S.)
- SaleHoo Group Limited (New Zealand)
- Shopify Inc. (Canada)
- Sunrise Wholesale Merchandise LLC (U.S.)
- Printify (U.S.)
- Cin7 Orderhive Inc. (U.S.)
- Wholesale2b (U.S.)
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Top Trends in Global Dropshipping Market
- One trend that Vantage Market Research (VMR) expects to see in the Dropshipping industry is a growing preference for online shopping. The primary forces propelling the drop shipping industry are the rising popularity of online shopping around the globe. Additionally, the market is benefiting from the growing trend of international e-commerce trade.
- Another trend that VMR predicts will continue in the Dropshipping industry is the emergence of smartphones. Due to the quick uptake of smartphones, more mobile applications are emerging than ever, which helps the market expand. Customers' experiences are made simple and practical by these mobile applications. The e-commerce business is expanding, further fueling the drop shipping industry, thanks to rising consumer disposable income and smartphone usage.
Top Report Findings
- The Domestic category controls most of the Dropshipping market's revenue, based on the Destination segment, because it provides several benefits to both customers and merchants. Sellers can quickly and easily find products from nearby suppliers, which cuts down on shipping expenses and timeframes.
- Based on the Product, the electronics category controls most of the Dropshipping market's revenue due to the rising demand for electronic goods. Due to the ability of customers to evaluate a wide range of products, receive discounts, and make simple return requests, the e-commerce platform opens up numerous opportunities for selling electronic goods.
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Recent Developments in the Global Dropshipping Market
- February 2022: For enhanced Dropshipping services, Alibaba.com and Dropified partnered. By this partnership, dropshippers can connect Dropified and Alibaba.com, their online stores, so that fulfilment businesses are alerted when an order has been placed and needs to be filled.
- March 2020: AliDropship.com presented Sellika, a fresh WordPress plugin that automates updating product details.
- December 2022: Trendsetting Boohoo, a UK-based apparel brand, entered the Indian market through Myntra. As part of the debut, Boohoo, Dorothy Perkins (DP), and Nasty Gal will give over 1,500 on-trend styles across categories like dresses, tops, bottoms, and footwear. On Myntra, a specific Online Brand Store (OBS) will contain the three brands.
- April 2021: India's top domestic e-commerce site, Flipkart, and the Adani Group, the country's largest foreign infrastructure company, have announced a strategic and business partnership. Adani Logistics, a fully owned subsidiary of Adani Ports & Special Economic Zone, will collaborate with Flipkart in this two-way partnership to strengthen Flipkart's supply chain infrastructure and further improve its capacity to serve its rapidly expanding customer base.
Electronics Category of the Product Segment of the Global Dropshipping Market to Projected to Generate a Considerable Revenue in the Forecast Period
For better understanding, based on the Product, the Dropshipping market is divided into Electronics, Fashion, Toys, Hobby, And Diy, Furniture, Beauty, Health, Personal, & Household Care and Other Products.
It is expected that the Electronics segment will dominate market for drop shipping. The development of E-Commerce platforms creates several chances for selling electronic goods, which benefits the Dropshipping sector because customers can evaluate a large selection of products, receive discounts, and benefit from simple returns. Online retailing can now access previously inaccessible locations thanks to the increased availability of reasonably priced electronic goods.
On the other hand, it is anticipated that the Fashion category will be the fastest growing category in the Dropshipping market due to the quickening of globalization and changes in consumer spending patterns. Increasing consumer preference for branded items and the availability of numerous brands on a single platform are also expected to drive the fashion industry.
Asia Pacific Region of the Global Dropshipping Market Forecast to Generate a Considerable Amount of the Total Global Revenue
In 2022, Asia Pacific dominated the Dropshipping market and is anticipated to grow at the fastest rate over the forecast period. The expansion of e-commerce businesses is credited with driving demand for Dropshipping services in the next years and growing the market. The number of internet users in the area is increasing due to the expansion of online retail. By the end of 2025, it is expected to reach USD 3,900 million, according to the Global System for Mobile Communications Association (GSMA). The recent forecasted expansion of the Indian e-commerce business has led to an increase in startups in the country. Many firms benefit from Dropshipping services since they can concentrate on important marketing tactics while spending less on inventory overall. With the help of dropshippers, small businesses may compete with established market leaders.
A further factor driving the need for online shopping is the rising popularity of smart devices like laptops, smartphones, and tablets. Furthermore, the growth of the telecommunications industry, the widespread use of smartphones and the internet, as well as the widespread attraction of social media sites like Instagram, Facebook, Snapchat, and Twitter, are all major factors in the rise of this region.
Browse market data Tables and Figures spread through 144 Pages and in-depth TOC on Dropshipping Market Forecast Report (2023-2030).
Global Dropshipping Market Segmentation
By Destination
- Domestic
- International
By Product
- Electronics
- Fashion
- Toys, hobby, and DIY
- Furniture
- Beauty, Health, Personal, and Household Care
- Others
By Region
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- South-East Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of MEA
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Scope of the Report:
| Report Attributes | Details |
| Market Size in 2022 | USD 221.3 Billion |
| Revenue Forecast by 2030 | USD 931.9 Billion |
| CAGR | 22.8% from 2023 to 2030 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2030 |
| Key Players | Alidropship, Doba Inc., Inventory Source, Megagoods Inc., Modalyst Inc., SaleHoo Group Limited, Shopify Inc., Sunrise Wholesale Merchandise LLC, Printify, Cin7 Orderhive Inc., Wholesale2b |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options https://www.vantagemarketresearch.com/dropshipping-market-2104/request-sample |
Key Questions Answered in the Dropshipping Market Report are:
- What is dropshipping and how does it work?
- What is the current size and projected growth of the dropshipping market?
- Who are the major players in the dropshipping industry and what are their strategies?
- What are the key trends and challenges in the dropshipping market?
- What are the most popular products and niches in the dropshipping market?
- What are the advantages and disadvantages of dropshipping for businesses?
- How does dropshipping differ from other eCommerce models?
- What are the legal and regulatory considerations for dropshipping businesses?
- How can businesses succeed in the dropshipping market and what are the best practices?
- What are the future prospects and opportunities for the dropshipping market?
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