According to a new report published by Allied Market Research, titled, โDropshipping Market,” The dropshipping market was valued at $155.6ย billion in 2021, and is estimated to reach $1,670.1 billion by 2031, growing at a CAGR of 27.1% from 2022 to 2031.
๐ฅ๐ฒ๐พ๐๐ฒ๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ญ: https://www.alliedmarketresearch.com/request-sample/31969
The concept of dropshipping is typically attributed to the business model which mostly involves retailers working with other retailers, or working with players up the hierarchy. It is an order fulfillment method where a business doesnโt keep the products it sells in stock. Instead, the seller purchases inventory as needed from a third partyโusually a wholesaler or manufacturerโto fulfill orders. Nowadays, consumers prefer online shopping, as a considerable number of websites are available to choose products from. The Asia-Pacific region is the region with the highest number of internet users, at 2,934 million.
Meanwhile, the North American region is the region with the highest internet penetration rate, at 93.4%. In 2022, the global internet population is estimated to be around 5.5 billion people, whereas internet usage is projected to be around 69% of the population. Moreover, e-commerce platforms also help numerous businesses reach easily to customers, and hence necessary exposure to business is achieved. The sector is propelled by a growing emphasis on online marketing tools, including Google ads and Facebook ads. According to industry experts, in 2019, there were approximately 1.92 billion digital buyers and eCommerce sales accounted for 14.1% of retail purchases worldwide.
Additionally, the emergence of the COVID-19 pandemic has increased customer preference for online delivery of groceries, complementing the growth of the dropshipping market. According to the Census Bureau of the Department of Commerce, U.S. retail e-commerce sales were $160.3 billion for the first quarter of 2020, an increase of 2.4% from the fourth quarter of 2019. The industry is also popular amongst consumers of all ages in developing countries of Asia-Pacific, such as India and China. According to the IBEF (Indian Brand Equity Foundation) mentioned that in 2020, India is the third largest country in terms of customer base with over 140 million. Moreover, the presence of market players such as Flipkart, Amazon, AJIO, and others which are heavily investing on improving platforms and expansion their presence in India is expected to offer lucrative growth to dropshipping supplers.ย
๐๐ป๐๐ฒ๐ฟ๐ฒ๐๐๐ฒ๐ฑ ๐๐ผ ๐ฃ๐ฟ๐ผ๐ฐ๐๐ฟ๐ฒ ๐๐ต๐ฒ ๐ฅ๐ฒ๐๐ฒ๐ฎ๐ฟ๐ฐ๐ต ๐ฅ๐ฒ๐ฝ๐ผ๐ฟ๐? ๐๐ป๐พ๐๐ถ๐ฟ๐ฒ ๐๐ฒ๐ณ๐ผ๐ฟ๐ฒ ๐๐๐๐ถ๐ป๐ด – https://www.alliedmarketresearch.com/purchase-enquiry/31969
Thus, rising e-commerce industries in North America and Asia-Pacific are flourishing in the business for dropshipping. Furthermore, the companies operating in the dropshipping market have adopted partnerships, investments, and product launches to increase their market share and expand their geographical presence. For instance, in June 2022, SaleYee and Shopify established a solid integration in order to serve e-commerce dropshipping businesses. SaleYee Dropshipping App was officially announced to be launched in the Shopify store.
KEY FINDINGS OF THE STUDY
- By product, the beauty, health, personal, and household care segment dominated the global dropshipping market in terms of growth rate.
- By destination, the international segment dominated the global dropshipping market in terms of growth rate.
The leading players operating in the dropshipping market are AliDropship, Doba Inc., Inventory Source, Megagoods, Inc, Modalyst, Inc, SaleHoo Group Limited, Shopify Inc., Sunrise Wholesale Merchandise, LLC, Printify, Cin7 Orderhive Inc. and Wholesale2b.
๐ฃ๐ฟ๐ผ๐ฐ๐๐ฟ๐ฒ ๐ฅ๐ฒ๐๐ฒ๐ฎ๐ฟ๐ฐ๐ต ๐ฅ๐ฒ๐ฝ๐ผ๐ฟ๐ ๐ฎ๐: https://www.alliedmarketresearch.com/dropshipping-market/purchase-options