Wholesale Global Market Report 2024, By Type (Non-Durable Goods Wholesalers; Wholesale Electronic Markets and Agents and Brokers; Durable Goods Wholesalers), Ownership and Price Range

DUBLIN, Feb. 29, 2024 /PRNewswire/ — The “Wholesale Global Market Report 2024” has been added to  ResearchAndMarkets.com’s offering.

The wholesale market size is expected to see strong growth in the next few years. It will grow to $68092.65 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The anticipated growth in the forecast period can be credited to the increasing focus on sustainability, rising demand for health and wellness products, the expansion of product offerings, regulatory shifts, innovations in logistics, and the prevailing global economic uncertainties. Key trends expected in the forecast period encompass the digital transformation within the wholesale sector, the utilization of data analytics and business intelligence, the integration of artificial intelligence (AI), the facilitation of cross-border wholesale trade, and the implementation of blockchain for supply chain transparency.

The wholesale market is poised to benefit from the anticipated steady economic growth in both developed and developing countries. As reported by the International Monetary Fund (IMF), the global GDP growth stood at 3.3% in 2020 and increased to 3.4% in 2021. The rebound in commodity prices after a historic decline is expected to be a significant driver of economic growth. The US economy is projected to maintain stable growth in the forecast period, and emerging markets are expected to outpace developed markets in terms of growth. This economic expansion is such as ly to stimulate public and private investments, joint ventures, and foreign direct investments in end-user markets, thereby boosting the wholesale market.

The upward trajectory of e-commerce is expected to fuel the growth of the wholesale market in the future. E-commerce, involving the electronic exchange of goods, services, or information between businesses and customers, offers enhanced efficiency, broader market reach, cost savings, and improved customer experiences in the wholesale industry. For example, in August 2023, the United States Census Bureau reported a 7.5% increase (or 1.4%) in e-commerce estimates for the second quarter of 2023, while overall retail sales saw a 0.6% increase (or 0.4%). Hence, the growing prevalence of e-commerce is a key driver for the wholesale market’s growth.

The integration of analytics in the wholesale trade market is elevating supply chain efficiencies by proactively anticipating customer future demand. Predictive analytics utilizes historical data to forecast upcoming events. Wholesale trade companies leverage predictive analytics for various applications, including projecting profitability, modeling business scenarios, and enhancing marketing campaigns. As an example, HD Smith, a pharmaceutical wholesale distributor, adopted analytics to streamline operations, manage inventory, and conduct profitability analysis.

Leading companies in the wholesale market are directing their focus towards innovative services, such as digital dash, to deliver reliable solutions to their customers. Digital dash refers to an electronic display panel on a vehicle’s dashboard providing real-time information about the vehicle’s performance and status. For instance, in March 2023, KPMG International Limited, a Netherlands-based services network and accounting company, introduced a new digital product, Dash, aimed at enhancing retail services. KPMG has employed automation to make Dash accessible to various corporations swiftly, requiring minimal lead time, no development or implementation, and no upfront costs. Dash generates an interactive dashboard of insights by amalgamating company data with AI and three billion external data points, aiding businesses in making informed decisions, predictions, and recommendations.

The primary categories of wholesalers are non-durable goods merchant wholesalers, wholesale electronic markets and agents, and brokers, as well as durable goods merchant wholesalers. Non-durable goods wholesalers specialize in products that require frequent replenishment, such as food items and petrol. Wholesale/distribution chains and independent wholesalers operate under various ownership forms, offering premium, mid-range, and economy price options.

The wholesale market includes revenues earned by entities by providing wholesale services by merchant wholesalers, specialty wholesalers, and general wholesalers. The market value includes the value of related goods sold by the service provider or included within the service offering. The wholesale market also includes sales of food, hard or durable goods, soft goods and art goods. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

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.

The market characteristics section of the report defines and explains the market.The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.The forecasts are made after considering the major factors currently impacting the market. These include:The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.The impact of higher inflation in many countries and the resulting spike in interest rates.The continued but declining impact of COVID-19 on supply chains and consumption patterns.Market segmentations break down the market into sub markets.The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth.The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Report Scope

Markets Covered:

By Type: Non-Durable Goods Wholesalers; Wholesale Electronic Markets and Agents and Brokers; Durable Goods WholesalersBy Ownership: Wholesale/Distribution Chain; Independent WholesalersBy Price Range: Premium; Mid-Range; Economy

Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Companies Profiled:

Walmart Inc.Amazon.com Inc.Berkshire Hathaway Inc.AmerisourceBergen Corp.Cardinal Health Inc.The Home Depot Inc.Target CorporationItochu CorpLowe’s Companies Inc.SinopharmSysco Corp.Best Buy Co. Inc.Dollar General CorporationTech Data Corp.C&S Wholesale Grocers Inc.Dollar Tree Inc.The Sherwin-Williams CompanyGenuine Parts CompanyBJ’s Wholesale Club Holdings Inc.W.W. Grainger Inc.Tractor Supply CompanyLKQ CorporationUnited Rentals Inc.Brueder Mannesmann AGHD Supply Holdings Inc.Fastenal CompanyPool CorporationBig Lots Inc.The Michaels Companies Inc.Applied Industrial Technologies Inc.

For more information about this report visit https://www.researchandmarkets.com/r/rb5hi3

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