Global Dropshipping Market Drivers 2024, Forecast To 2033
19 Sep, 2024
The dropshipping market is surging, expected to grow from $225 billion in 2023 to $272.97 billion in 2024, reflecting a CAGR of 21.3%. This growth is attributed to the expansion of e-commerce and globalization. The market is projected to reach $594.02 billion by 2028, at a CAGR of 21.5%. Key drivers include consumer demand for personalized products and enhanced supply chain resilience.
Major Driver In The Dropshipping Market
The rapid growth of the e-commerce industry is expected to drive the dropshipping market. E-commerce, characterized by online buying and selling, is expanding due to increased internet penetration, the convenience of online shopping, and technological innovations. Dropshipping facilitates this growth by allowing retailers to offer a broad range of products without managing inventory. Ecommerce Europe reported in June 2022 that the European e-commerce market reached approximately USD 869 billion in 2021, a 13% increase from USD 681.9 billion in 2020, with expectations to grow to USD 958 billion in 2022. This expansion fuels the dropshipping market, valued at USD 232 billion in 2023 and projected to reach USD 368 billion by 2028.
Request A Free Sample Of The Dropshipping Market ReportDropshipping Market Competitive Landscape
Costco Wholesale Corporation, Shopify Inc., Etsy Inc., Wix.com Inc., Printful Inc., Printify Inc., Doba Inc., Oberlo, Gooten, SaleHoo Group Limited, AliExpress Ltd., Inventory Source, Megagoods Inc., Wholesale2b, Dropshipper.com, CJDropshipping Inc., GreenDropShip, Alidropship, Modalyst Inc., Sunrise Wholesale Merchandise LLC, Cin7 Orderhive Inc., Spocket, Importify, Teelaunch, BigBuy
Key Dropshipping Market Trend
Dropshipping market leaders are integrating advanced mapping functionalities to optimize inventory management and sales strategies. This tool allows sellers to manage and categorize SKUs, organize distribution, and implement marketing strategies effectively. In June 2022, DSers upgraded its mapping function to simplify dropshipping management. The new functionality includes five mapping options: basic, standard, advanced, BOGO (Buy-One-Get-One), and bundle mapping, enabling tailored solutions for various business models and promotional campaigns.
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Dropshipping Market Segmentation
The dropshipping market covered in this report is segmented –
1) By Product: Furniture And Appliances, Toys, Hobby And DIY, Food And Personal Care, Fashion, Electronics, Other Products
2) By Destination: Domestic, International
3) By Application: Business-to-Business (B2B), Business-to-Consumer (B2C), Customer-to-Customer (C2C)
By Geography:The regions covered in the dropshipping market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the dropshipping market in 2023.
The Dropshipping Global Market Report 2024 furnishes information about the global dropshipping market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.