Wholesale Global Market Report 2023
Major companies in the wholesale market include AmerisourceBergen Corp, Cardinal Health Inc., Walmart Inc., Sinopharm, Sysco Corp, Berkshire Hathaway Inc., Brueder Mannesmann AG, Lowe’s Companies Inc.
New York, April 21, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Wholesale Global Market Report 2023" - https://www.reportlinker.com/p06282496/?utm_source=GNW
, Itochu Corp, and Tech Data.
The global wholesale market grew from $45,672.51 billion in 2022 to $48,883.25 billion in 2023 at a compound annual growth rate (CAGR) of 7.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The wholesale market is expected to grow to $61,529.93 billion in 2027 at a CAGR of 5.9%.
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.
Wholesale refers to sale of goods in large quantities to distributers who further sell it to the end-users or other distributers. Wholesale trade comprises purchasing, storing, and selling merchandise to retailers or other wholesalers and providing related services such as breaking bulk.
Asia-Pacific was the largest region in the wholesale market in 2022.North America was the second-largest region in the wholesale market.
The regions covered in the wholesale report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The major types of wholesalers are non-durable goods merchant wholesalers, wholesale electronic markets and agents and brokers, and durable goods merchant wholesalers.The non-durable wholesalers sell products that need to be purchased often, like food items, petrol, and so on.
The ownership forms include wholesale/distribution chains and independent wholesalers having premium, mid-range, and economy prices.
The wholesale market is expected to benefit from the steady economic growth forecast for many developed and developing countries. According to International Monetary Fund (IMF), the global GDP growth was 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a decline in the historic period is further expected to be a significant factor driving economic growth. The US economy is expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than developed markets in the forecast period. Greater economic growth is likely to drive public and private investments, joint ventures, and foreign direct investments in the end-user markets, thereby driving the market during the forecast period.
The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the wholesale market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally.COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty breathing.
The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and has spread globally, including Western Europe, North America, and Asia.Steps by national governments to contain the transmission have resulted in a decline in the manufacture and trade of non-essential goods and an overall decline in economic activity with countries entering a state of "lock down" and the outbreak having a negative impact on businesses throughout 2020 and into 2021.
However, it is expected that the wholesale market will recover from the shock over the forecast period as it is a "black swan" event and not related to ongoing or fundamental weaknesses in the market or the global economy.
The use of analytics in the wholesale trade market is enhancing supply chain efficiencies by anticipating the future demand of the customer.Predictive analytics uses historic data to predict future events.
Some of the applications where wholesale trade companies use predictive analytics are to project profitability, model business scenarios, and improve marketing campaigns. For instance, HD Smith, a pharmaceutical wholesale distributor, implemented analytics to streamline their operations, manage their inventory, and perform profitability analysis.
The countries covered in the wholesale market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The wholesale market research report is one of a series of new reports that provides wholesale market statistics, including wholesale industry global market size, regional shares, competitors with a wholesale market share, detailed wholesale market segments, market trends and opportunities, and any further data you may need to thrive in the wholesale industry. This wholesale market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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