Vietnam Writing Instruments Market

Vietnam Writing Instruments Market Outlook (2022-2032)

The Vietnam writing instruments market is projected to expand at 6.7% CAGR and reach a market valuation of US$ 202.7 Mn by 2032, up from US$ 100.1 Mn in 2021.

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Sales Analysis of Writing Instruments in Vietnam from 2017 to 2021 Vs Future Projections for 2022 to 2032

From 2017 to 2021, use of writing instruments in Vietnam increased at a healthy CAGR of 5%. Growth of the industry is currently driven by increasing promotional activities in the market. Superior production systems as well as better product designs are all examples of advanced automated systems in this space.

Despite the mature and saturated nature of the writing instruments market in the country, high growth is expected over the decade. Most of the demand is driven by the increased need for specialist and semi-professional writing items, as adult consumers pay greater attention to characteristics such as ergonomics, durability, and product quality.

Companies have partnered with well-known international and regional stores to build a variety of alternative sales channels so as to ensure that their products are easily accessible to their target clients. Furthermore, businesses are seeking to establish franchise or brand stores in a variety of strategic areas where they can use critical marketing methods such as seasonal marketing and price skimming to sell more writing markers and instruments.

One of the major factors propelling writing instrument sales in Vietnam is improving economic conditions, which has prompted worldwide businesses to market their products in this country. Furthermore, corporations are establishing strong distribution channels with traders and supermarkets in order to sell their diverse selection of writing instruments.

Going forward, over the 2022 to 2032 forecast period, the market for writing instruments in Vietnam is predicted to expand rapidly at a CAGR of 6.7%.

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How is Growth of the Vietnam Writing Instruments Market Shaping Up?

“Growing Popularity of Omi-channel Retail Driving Demand for Writing Instruments”

To increase their sales and client outreach, writing instrument vendors are increasingly focusing on selling their products through several platforms, such as retail storefronts and e-Commerce outlets.

Vendors have shifted to online platforms to advertise their products due to increased adoption of e-Commerce and Internet in the country. Stationery stores in schools and office buildings continue to see strong sales. Writing instrument manufacturers are selling their products through disorganized distribution networks.

e-Commerce sites are used by businesses to market and sell their products at low prices. Companies distribute their products through numerous wholesalers and distributors who specialize in private label products, among other offline methods. Manufacturers of mid-level branded items, in addition to private label products, choose numerous unorganized distribution channels, such as retailers and specialty stores, to expand their reach to clients.

“High Importance on Education Bodes Well for Industry Expansion in the Country”

Writing instruments play an important role in the education sector, to say the least. In Vietnam, the education sector contributes around 4.3% of the total GDP, the reason being, students are encouraged to enroll in higher education as a result of government initiatives. In addition, large-scale expenditure on practical, job-specific training is being made to support labor force development.

In addition, demand for high-quality, long-term research education is growing in Vietnam, as the government relaxes laws and welcomes foreign investors and students to enroll. Writing instrument suppliers are looking at this as an opportunity to manufacture products that are of high quality and premium standards. Another factor helping writing instruments market growth in Vietnam is increase in the number of stationary stores.

“High Writing Instrument Usage by Several Industry Sectors”

Office stationery and supplies are consumables and equipment typically used by businesses and several organizations such as hospitals, government agencies, hotels, the BFSI sector, and others for letter writing, recordkeeping, and data storage. Manufacturers of writing instruments and markers in Vietnam are looking at this as an opportunity to places their products in the market and generate increased sales.

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Category-wise Insights

Will Pens Continue to Be a Top-selling Product?

Pens are set to account for a considerable revenue share of 54.8% by the end of 2022, according to the study. Pens, rather than pencils, have helped the product category develop a considerable market based on requirement and type of use.

Growing need for recyclable and environmentally-friendly items has increased demand for pens in the market, and companies are focusing on innovation and product development to increase their market share in Vietnam.

Is It Likely That Students Will Remain Prominent End Users?

End-user adoption is predicted to rise as a result of the rapid expansion of educational institutions in Vietnam, as well as promotional measures for writing equipment. However, the analysis predicts that the student category will have a high value share in terms of end users in the Vietnam writing devices market.

During the forecast years, adoption of writing instruments among students is expected to expand at a high CAGR of around 7.8%. Rising use of luxury writing instruments is expected to boost the overall sales of these products across the country over the coming years.

Will e-Commerce Sales of Writing Instruments Increase Significantly?

According to sales channel analysis, hypermarkets/supermarkets held a large market share of 29% in the year 2021 as far as writing instrument consumption is concerned. However, e-Commerce sales of writing instruments are expected to grow rapidly during the projected period.

Rising digital connectivity, large number of online payment option choices, and growing online sales of writing services are all expected to drive the growth of online sales of writing equipment in the country over the years to come.

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Competition Landscape

Corporations are continuously investigating approaches to reduce costs while raising production capacity. These techniques are being promoted because input costs keep rising and retailers are becoming more powerful. Highly regarded enterprises conduct analysis spanning input and output parameters.

Establishing relationships with key individuals or suppliers may help market players reduce their operating expenses by enabling access to higher degrees of productivity.

Companies producing writing instruments are stepping up their research and development efforts in order to provide better products for consumers. Increased product innovation fosters a fiercely competitive atmosphere, thereby promoting writing instrument sales. The market for writing instruments in Vietnam has risen as a result of unique product designs, product diversification, and growing demand for high-quality brands.

For Instance:

• STAEDTLER introduced a number of new writing tools in 2021, including the STAEDTLER pink fountain pen, which targets the female category, as well as a number of different triplus fountain pens. At the same time, the business released the STAEDTLER ballpoint pen.

Vietnam Writing Instruments Industry Report Scope

Segmentation of Vietnam Writing Instruments Industry Research

Vietnam Writing Instruments Market by Category:

• Pencils
  • Graphite Pencils
  • Mechanical Pencils
• Pens
  • Fountain Pens
  • Ball Point Pens
  • Roller Pens
  • Gel Pens
  • Others
• Colouring Instruments
• Highlighters & Markers
• Others

Vietnam Writing Instruments Market by End User:

• Writing Instruments for Students
• Writing Instruments for Independent Professionals
• Writing Instruments for Institutions
• Others

Vietnam Writing Instruments Market by Sales Channel:

• Writing Instruments Sold at Hypermarkets/ Supermarkets
• Writing Instruments Sold at Specialty Stores
• Writing Instruments Sold at Multi-Brand Stores
• Writing Instruments Sold by Online Retailers
• Writing Instruments Sold through Other Sales Channels