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The writing instruments market is estimated to grow at a CAGR of 6.4% between 2022 and 2027 and size of the market is forecast to increase by USD 9,424.32 million. The report includes historic market data from 2017 to 2021. It also extensively covers market segmentation by application (students, working professionals, and institutions), distribution channel (offline and online), and geography (APAC, Europe, North America, South America, and Middle East and Africa). This report also includes an in-depth analysis of drivers, trends, and challenges.
The emerging online sales of writing instruments are notably driving market growth. Increasing digitalization and the increasing utilization of e-commerce services are driving growth. Popular e-commerce portals include brand-owned online formats and pure-play e-retailers. Amazon.com (Amazon), MORA STYLOS, and MAKOBA are some major online retailers of writing instruments globally. The availability of personalized shopping assistance and suggestions on writing instruments are the two primary advantages that encourage people to shop for these products online.
In addition, e-commerce providers allow their customers to compare different models of writing instruments available on their websites. This allows customers to choose the best option according to their needs and preferences. Online sales channels reduce the costs of operating brick-and-mortar stores, the employment of sales personnel, and the physical merchandising of writing instruments, and allow vendors to offer significant discounts directly to their customers. Therefore, online sales are expected to drive the growth of the global writing and marking instrument market during the forecast period.
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Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
PENTEL STATIONERY (INDIA) PVT. LTD. - The company offers writing instruments such as Mechanical pencils, pencil leads and markers. The company is involved in offering a wide range of products, such as boxes, master cartons, and blister cards.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
APAC is estimated to contribute 57% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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Product design and feature innovations have a significant impact on market growth, and also the high growth in developing countries, such as India and China, has made it lucrative. As disposable income increases due to high demand for writing instruments, many international suppliers are expanding into the regional market. To maintain quality standards in their product lines, vendors in the region invest heavily in the design of writing instruments such as luxury pens. Therefore, the availability of such product offerings in the region is expected to drive the growth of the market during the forecast period.
Based upon Application. The market share growth by the student segment will be significant during the forecast period. The market in focus is expected to grow significantly due to the introduction of fancy coloring instruments, which are gaining popularity among children and school-age students. The increased use of highlighters and markers among students is expected to broaden the market's scope.
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The student segment was valued at USD 12,129.36 million in 2017 and continue to grow by 2021. Various companies are adopting novel strategies to expand the application scope among students. This increase is due to the growing awareness of the importance of education among the people of the world. Government initiatives and policies to encourage more students, especially women, to get an education in underdeveloped or developing countries such as India, China, and Brazil are expected to boost segment growth. These factors are expected to expand the range of writing instruments during the forecast period.
Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increasing demand for customization and personalization of writing instruments will have a positive impact on the growth of the market during the forecast period. Business enterprises also use personalized writing instruments, especially ballpoint pens, as advertising materials such as gifts for business partners and employees. This allows you to increase your brand exposure. Businesses also use these pens for trade show giveaways, corporate events, seminars, and conferences. These factors have a positive impact on market growth. The demand for personalized pens that have the name of the owner inscribed on them is also growing.
Vendors also offer pens that can be personalized with their desired logo, name, or text. Advances in printing technologies, developments in software, and an increase in demand from customers are creating new avenues for the customization of products. Many vendors are offering custom engraving on their luxury pens, which are primarily meant for gifting options. These factors will drive the growth of the global writing and marking instrument market during the forecast period.
The availability of alternative products is the major challenge impeding market growth. The availability of alternative means such as digital media for writing and storing data will significantly hinder the growth of the market. As the adoption rate of digital media in emerging markets is expected to increase during the forecast period, the writing and marking instruments market will experience moderate growth. Electronic devices have replaced the creation of shopping lists, reminders, and calendar entries. This growth in digitization, resulting from the recognition of the benefits of digitization and easy access to information, will halt the growth of the global writing instruments market.
The high adoption of electronic devices in emerging markets is due to the increase in the availability of low-cost smartphones, improved broadband infrastructure, and growth in smartphone shipments. Owing to the increase in the penetration of mobile and electronic devices, the adoption rate of tablets, smartphones, and laptops has increased. Furthermore, increased environmental awareness to go paperless and save trees also obstructs the growth of the market. Hence, to sustain in the market, vendors in the global writing instrument market should promote and market their products aggressively. Therefore, this can be a potential challenge that is expected to hamper the growth of the global writing and marking instruments market.
The report includes the adoption lifecycle of the market, from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on market penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Writing Instruments Market Customer Landscape
The outbreak of COVID-19 in the region led various physical stores, including stationery facilities, to shut down temporarily, which resulted in reduced revenue for several companies. However, the lifting of lockdown restrictions in the first half of 2021 led to the resumption of business operations in the region. This, in turn, has led to the reopening of various offices, government institutions, and colleges since the beginning of 2021. For instance, since August 2021, various companies in Singapore have been preparing to allow their employees to return to offices with the easing of lockdown restrictions. Such factors will foster the growth of the market during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Writing Instruments Market Scope |
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Report Coverage |
Details |
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Page number |
159 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.4% |
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Market growth 2023-2027 |
USD 9,424.32 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
5.4 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 57% |
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Key countries |
US, China, Japan, India, and Germany |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Bic, Caran d Ache, Claro, Crayola, Faber Castell Aktiengesellschaft, Flair Pens, Hindustan Pencils Pvt. Ltd., Koh i noor Hardtmuth AS, Kokuyo Camlin Ltd, Linc Pen & Plastics Ltd., Luxor, Mitsubishi Pencil Co. Ltd, Montblanc, Newell Brands Inc., Pelikan International Corp. Berhad, PENTEL STATIONERY (INDIA) PVT. LTD., PILOT Corp, Schwanhausser Industrie Holding GmbH and Co. KG, Shanghai M and G Stationery Inc., and Staedtler Mars GmbH and Co. KG |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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