DUBLIN, Dec. 7, 2023 /PRNewswire/ -- The "Non Durable Goods Wholesalers Global Market Report 2024" has been added to ResearchAndMarkets.com's offering.
The non-durable goods wholesalers market size has grown strongly in recent years. It will grow from $22,804.63 billion in 2023 to $24,165.49 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth experienced in the historical period of non-durable goods wholesaling can be ascribed to factors such as prevailing economic conditions, consumer spending patterns, the demand within the retail sector, and seasonal variations in the market.
The non-durable goods wholesalers market size is expected to see strong growth in the next few years. It will grow to $29,703.98 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. Anticipated growth in the forecast period for non-durable goods wholesaling can be linked to several key factors, including the rise of e-commerce and online sales, a growing focus on sustainability and eco-friendly products, the increasing demand for health and wellness items, and the implementation of flexible and efficient distribution practices. Notable trends expected during this period encompass the adoption of technology, fostering collaboration and partnerships, the development of private label brands, and an ongoing emphasis on sustainability and eco-friendly initiatives.
The non-durable goods wholesaler's market is poised for growth, driven by the increasing demand for e-commerce. E-commerce entails the buying and selling of goods and services through online and electronic channels. It allows wholesalers to extend their reach beyond physical locations, reaching customers on regional, national, and international scales, thereby expanding their potential customer base. In August 2023, data from the United States Census Bureau indicated a 7.5% increase in e-commerce in the second quarter of 2023 compared to the second quarter of 2022, while overall retail sales rose by 0.6%. Notably, 15.4% of all sales in the second quarter of 2023 were conducted through online stores. Thus, the surging demand for e-commerce is a driving force behind the growth of the non-durable goods wholesaler's market.
The growing population is expected to contribute significantly to the expansion of the non-durable goods wholesalers market. Population, which refers to the total number of individuals within a specific geographical area or defined group, plays a pivotal role in shaping market potential and strategic planning for wholesalers. A burgeoning and diverse population offers opportunities for non-durable goods wholesalers to tap into new customer segments and boost sales, particularly in regions experiencing increased consumer demand. For instance, data from the Office for National Statistics in February 2023 projected the UK's population to reach 72.4 million by mid-2045. Therefore, the increasing population is a key driver behind the growth of the non-durable goods wholesaler's market.
In the current digital economy era, wholesalers are increasingly embracing predictive analytics as a powerful tool. Predictive analytics leverages past data to forecast future outcomes and can be instrumental in enhancing various aspects of wholesale operations. This tool's applications encompass predicting customer profitability, improving marketing campaigns, and modeling different business scenarios. For instance, SAP HANA integrated with BW is a widely used predictive analytics tool for wholesale distribution and materials management, including the paper industry.
Major companies in the non-durable goods wholesalers market are at the forefront of innovation, developing technologies such as AI-powered inventory management solutions to enhance their market profitability. AI-powered inventory management solutions are software platforms that employ machine learning (ML) and artificial intelligence (AI) to automate inventory forecasting and optimize inventory management processes. For example, in September 2023, Afresh Technologies, a US-based technology company, launched an advanced AI-powered inventory management solution. These AI-driven solutions have the capacity to analyze sales data and other relevant information, providing precise demand projections. Wholesalers dealing in non-durable goods can leverage these solutions to optimize inventory levels, reducing the risk of stock outs or overstocking.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
By Type: Paper And Paper Product Wholesalers; Drugs And Druggists Sundries Wholesalers; Apparel; Piece Goods; And Notions Wholesalers; Grocery And Related Product Wholesalers; Farm Product Raw Material Wholesalers; Chemical And Allied Products Wholesalers; Petroleum And Petroleum Products Wholesalers; Beer; Wine; And Distilled Alcoholic Beverage Wholesalers; Miscellaneous Nondurable Goods Wholesalers
By Ownership: Wholesale/Distribution Chain; Independent Wholesalers
By Price Range: Premium; Mid-Range; Economy
Countries: Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: Country and regional historic and forecast data, market share of competitors, market segments.
US Foods Holding
C&S Wholesale Grocers
Walgreens Boots Alliance
Performance Food Group
H T Hackney
Core-Mark Holding Company
United Natural Foods
Central Garden & Pet Company
The Chefs' Warehouse
For more information about this report visit https://www.researchandmarkets.com/r/8ycejh
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