This briefing assesses global B2B market trends in 2024 and beyond. It is geared towards consumer goods companies that are selling into the B2B market, and provides insights into how B2B markets are developing, which countries and channels to target, as well as how to navigate the potential challenges and what is next for B2B.
This report comes in PPT.
The period 2023-2024 has witnessed a situation where, due to high inflation and slow income growth, doing business with companies can be more lucrative than selling to consumers. B2B sales channels, such as offices and healthcare, are forecast to maintain higher revenue growth than consumer markets, with lower price sensitivity. As a result, many consumer goods companies are shifting their attention to establishing a stronger footprint in global B2B markets.
Asia Pacific will remain the largest and the fastest growing B2B market globally over 2024-2025. China is the key B2B market for consumer goods in Asia Pacific, with 66% of total value sales in 2023; however, the fastest future growth is anticipated in India, the Philippines, Vietnam, Indonesia and Malaysia.
The B2B marketplace is becoming easier to navigate. B2B delivery services, payments and e-platforms have all seen considerable innovation in recent years, which makes selling into the B2B market much easier.
2024 is seeing companies start to use Gen AI in B2B marketing, with exponential proliferation expected in the next two to three years. As Gen AI usage in B2B marketing becomes widespread, personalised and efficient interaction with B2B clients will become the norm.
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