Marker Pen Market Analysis: Permanent marker pen segment is estimated to account for more than 62% share of the market by 2018 end, which is expected to give way to disposable marker pens by 2026 end
Marker pens endure lucrative opportunities across countries on the backdrop of an increasing number of academic institutions and commercial offices worldwide. Moreover, growth in the pervasiveness of presentation across corporates has influenced the demand for marker pens. This has encouraged manufacturers to come up with innovative products in the market.
A recent Persistence Market Research study predicts the marker pen market to record an expansion at 2.9% CAGR over the forecast period (2018-2026). Marker pens continue to witness increased traction in academic institutions and associated end-use sectors. However, growth in the commercial end-use sector is also expected to be impressive.
Focus on Education in Developing Countries Creating Steady Demand for Marker Pens
Schools account for a significant share of the overall demand for marker pens. Use of writing instruments such as notebooks, pens, whiteboards, etc. in schools has been a significant contributor to the marker pen market. Use of chalk and blackboards are witnessing a steady replacement with marker pens and marker boards.
Marker Pens Distributed as Promotional Products to Spur Global Market Demand
A growing demand for promotional products such as T-shirts, outerwear, and calendars offered by companies to both employees and customers is expected to boost the marker pen market. Companies are expected to employ writing instruments such as marker pens for several promotional aspects that are likely to benefit the global marker pen market.
Increasing focus on Environmental Friendly Products
Increasing use of innovative and environmentally friendly technologies by marker pen manufacturers and rising demand for ecological and recyclable plastic products are factors expected to fuel demand for marker pen market, specifically in regions such as Europe and North America, over the forecast period. In addition, manufacturers also have options to use environmentally safe packaging, as companies have become more conscious towards sustainable products.
Marker Pen Market Analysis, by Product Type
Permanent marker pen segment is expected to be valued at US$ 241.8 Mn by 2028 and is projected to register a CAGR of 2.6% over the forecast period. Furthermore, the segment is also the primary revenue generator in the global marker pen market. This segment accounts for 62% market share in overall marker pen market in terms of product type and is anticipated to continue to maintain its significant market share in the forecast period.
Marker Pen Market Analysis, by End-user
In terms of value, academic institutions end use segment is anticipated to register a CAGR of 3.2% over the forecast period. The commercial end-user segment is also growing rapidly owing to the rise in business environment and number of corporate business ventures.
Marker Pen Market Analysis, by Category
Disposable marker pens are expected to remain the fastest-growing category during the forecast period. Refillable marker pen category accounted for a market share of 35% in terms of value in 2017.
Marker Pen Market Analysis, by Sales channel
Hypermarket/supermarkets are expected to remain the preferred sales channels for marker pens. The online sales channel is estimated to grow at a high CAGR of 3.5% over the forecast period. This is attributed to the increasing number of people using internet and smartphones for shopping for various products such as groceries and fast moving consumer goods, including stationery products.
Marker Pen Market Analysis, by Region
On the basis of region, Asia Pacific region is projected to remain dominant in the global marker pen market throughout the forecast period. Permanent marker pen segment is estimated to account for a significant market share of 58% in the APAC market by 2018 end.
This Persistence Market Research report on the global marker pen market analyzes opportunities in the market and presents updates and insights relating to various segments of the global marker pen market over the forecast period, 2018–2026.
The scope of the report on the marker pen market consists of writing and marking tools and includes both permanent and non-permanent marker pens used by end-use segments such as academic institutions, residential, and commercial. Marker pens analyzed in this report include both disposable and refill markers. Broadly, marker pens include writing instruments used for marking or writing purpose or pen for drawing fine lining.
To understand consumption patterns and assess opportunities in the marker pen market, the report is divided into six sections, namely, analysis by product type, by category, by usage type, by end use, by tip type, and by sales channel. The report analyzes the global marker pen market in terms of market value (US$ Mn) and volume (million units). The report highlights existing opportunities in the global market to equip the client with crystal-clear, decision-making insights. The report also includes an analysis of drivers and restraints witnessed in the marker pen market. Key trends observed across the value chain are also included in the report.
The market is segmented as follows:
By Product Type:
By Usage Type:
By End Use:
By Tip Type:
By Sales Channel:
To deduce the market size, the report considers various aspects based on secondary research. Furthermore, key data points such as region-wise split and market split by product type, category, usage type, tip type and qualitative inputs from primary respondents have been incorporated to arrive at appropriate market estimates. The forecast presented in the report assesses total revenue generated and expected revenue contribution in the global marker pen market.
The report begins by sizing the base year in terms of value and volume. This forms the basis for forecasting how the market is anticipated to take shape in the near future. Given the characteristics of the market, Persistence Market Research triangulates the data by means of various approaches based on supply side, demand side, and dynamics of the global marker pen market. To develop the market forecast, PMR conducted a thorough factor analysis to understand the impact of various forces/factors on the target market. However, quantifying the market across the abovementioned segments is more a matter of quantifying expectations and identifying opportunities rather than rationalizing them after the forecast has been completed.
It is imperative to note that in an ever-fluctuating economy, we not only provide forecasts in terms of CAGR but also analyze on the basis of key parameters, such as year-on-year (Y-o-Y) growth, to understand predictability of the market and identify the right opportunities.
Another key feature of this report is an analysis of the global marker pen market and the corresponding revenue forecast in terms of absolute dollar opportunity. This is usually overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective in the global marker pen market.
To understand key segments in terms of their growth and performance in the global marker pen market, PMR has developed a market attractiveness index. The resulting index should help providers identify existing market opportunities in the global marker pen market.
The report covers an in-depth analysis of all components of the value chain in the global marker pen market. In the final section of the report on the global marker pen market, a detailed competitive landscape is included to provide a dashboard view of global marker pen manufacturers, retailers, and distributors.
Some market players featured in this report are as follows: