The ‘Global Dropshipping Market Size, Share, and Forecast 2023-2028’ by Expert Market Research, gives an extensive outlook of the global dropshipping market, assessing the market on the basis of its segments like product, destination, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Dropshipping Market Price, Share, Size, Growth, Trends, Industry Report, Key Player, Major Segments and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Value (2022): USD 248.3 billion
• Forecast CAGR (2023-2028): 24.70%
• Forecast Market Value (2028): USD 1036.2 billion
Starting a dropshipping business is inexpensive, and it eliminates the risk of losing money on unsold inventory. It helps retailers become more profitable, save time, and save money, all of which are contributing to the growth of the dropshipping market. The market is expanding as a result of the simplicity with which online stores can now be opened across a wide range of product categories. A new online store may be easily set up with the help of new e-commerce website providers and drop shipping businesses can increase their market share by using an efficient marketing plan.
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An important development in the dropshipping market is the burgeoning e-commerce industry. Opportunities for dropshipping are growing as a result of rising online sales of a variety of goods, including consumer electronics, food, and personal care items. Dropshipping increases the range of products available to retailers while cutting prices, which is fuelling the market’s rapid expansion. Businesses who use dropshipping can showcase products on their online site and send purchased goods directly to customers after receiving purchase orders.
Dropshipping Industry Definition and Major Segments
Dropshipping is a type of e-commerce order fulfilment method where a third-party provider delivers the purchased goods directly to the customers, doing away with the need for internal physical inventory, warehousing, storage, and shipping.
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Based on the product, the market is divided into:
• Food and Personal Care
• Toys, Hobby, and DIY
• Electronics and Media
• Furniture and Appliances
On the basis of destination, the market is bifurcated into:
The major regional markets include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Dropshipping Market Trends
One of the industries with the largest income generation is electronics and media, which sells both inexpensive and expensive consumer devices. A sizable portion of the dropshipping market is accounted for by the electronics and media sector. Dropshipping electronics can increase a company’s profitability by increasing its scalability. The introduction of high-end products such portable speakers, cameras, headphones, chargers, electronic car accessories and among others, is likely to boost the segment’s expansion throughout the course of the forecast period, along with retailers’ expanding product portfolios.
The dropshipping market is also dominated by the international segment, which can be linked to retailers’ desire for a truly worldwide presence. As a result of regional variations in product pricing and the rise of businesses using global dropshipping, customers can now find better deals. Dropshipping makes it possible to create dropshipping companies with white-label products while offering in-demand products at competitive costs on a global scale. Also, it facilitates simple access to uncommon and difficult-to-find goods. Nonetheless, the domestic dropshipping market is anticipated to increase strongly during the projection period due to improved customisability, simple communication, and swift shipping.
DropCommerce, a well-known dropshipping company situated in British Columbia, Canada, serves as a link between dropshipping and high-quality branded goods. Among other well-known e-commerce platforms, DropCommerce interfaces with BigCommerce, Shopify, and Wix. The company was founded in 2018 and focuses on growing its product line and fulfilling orders.
A well-known online dropshipping company, Worldwide Brands offers a large selection of high-end goods, including pet supplies, toys, games, jewellery, watches, home and garden equipment, consumer electronics, and more. The company asserts that its goods are secure, affordable, and free from fraud. Its current headquarters are in Florida, United States, where it was founded in the year 1999.
Key Market Players
The major players in the global dropshipping market report include:
- Sunrise Wholesale Merchandise
- Worldwide Brands
- Doba Inc
- Alibaba Group Holding Limited
- Modalyst Inc
- SaleHoo Group Limited
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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