New York, June 01, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Wholesale Global Market Report 2022" - https://www.reportlinker.com/p06282496/?utm_source=GNW
, Itochu Corp, and Tech Data.
The global wholesale market is expected to grow from $42,119.22 billion in 2021 to $46,370.23 billion in 2022 at a compound annual growth rate (CAGR) of 10.1%. The market is expected to grow to $65,613.18 billion in 2026 at a compound annual growth rate (CAGR) of 9.1%.
The wholesale market consists of sales of goods and related services to ultimate users by entities (organizations, sole traders, and partnerships) that sell wholesale merchandise including the outputs of the agriculture, mining, manufacturing, and certain information industries, such as publishing.The wholesale trade comprises purchasing, storing, and selling merchandise to retailers or other wholesalers and providing related services such as breaking bulk.
This industry includes wholesale agents and brokers who arrange the purchase or sale of the goods owned by others, on a fee or commission basis. The wholesale industry also includes business-to-business electronic markets and platforms and agents that facilitate wholesale trade that does not own or handle the products they sell.
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 chain and independent wholesalers having premium, mid-range and economy prices.
Asia Pacific was the largest region in the wholesale market in 2021.North America was the second-largest region in the wholesale market.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The wholesale market is expected to benefit from steady economic growth forecasted 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 the developed markets in the forecast period. Greater economic growth is likely to drive public and private investments, joint ventures, foreign direct investments in the end-user markets, thereby driving the market during the forecast period
The outbreak of Coronavirus 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 in breathing.
The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and spread globally including Western Europe, North America, and Asia.Steps by national governments to contain the transmission have resulted in a decline in 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 had a negative impact on businesses throughout 2020 and into 2021.
However, it is expected that the wholesale market will recover from the shock across 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.
Read the full report: https://www.reportlinker.com/p06282496/?utm_source=GNW
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