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 growth of the writing instruments market.
A survey conducted by the Advertising Specialty Institute in 2016 estimated that, 50% of all U.S. consumers owned promotional writing instruments. Companies are anticipated to use writing instruments for a number of promotional purposes, which will aid the growth of the global writing instruments market through 2030.
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- Société BIC SA
- Mitsubishi Pencil Co., Ltd.
- Pilot Corporation
- Schwanhäußer Industrieholding GmbH & Co. KG
- Newell Brands, Inc.
- Shanghai M&G Stationery Inc.
- Schneider Schreibgeräte GmbH
- Kokuyo Camlin Limited
- C. Josef Lamy GmbH Srl
- STAEDTLER Mars GmbH & Co. KG
- Luxor Writing Instruments Private Limited
- Linc Pen & Plastics Ltd.
- Hindustan Pencils Private Limited
- Moleskine SpA
- Flair Group of Compaies
- Pentel Co. Ltd.
- Pelikan AG
- Zebra Co. Ltd.
- The Cumberland Pencil Co.
Writing Instruments Market Trends
Product Differentiation Playing Important Part: Key stakeholders in the writing instruments market are focusing on product differentiation by offering innovative, designer writing instruments that have multipurpose use cases. Companies have begun to offer ballpoint pens with a stylus, pens with multiple colored inks, different pen body styles, and pens with customized clips that may have a famous designer’s touch or influence.
Another major factor is the shift toward biodegradable or recyclable materials. Many manufacturers have invested in recyclable PET pens that are made from recycled PET bottles, and even pens created from biodegradable raw material. These organizations are able to appeal to environmentally-conscious customers, and make their products stand out in the writing instruments market.
Luxury Writing Instruments Serve as Status Symbol: Luxury writing instruments are seen as a strong status symbol, especially amongst customers in North America, Europe, and the MEA regions. Montblanc, Lamy, and STAEDTLER are some of the most famous companies that specialize in luxury pen making in the global writing instruments market, because they have a longstanding heritage in this industry.
For the creation of unique designer writing instruments, C. Josef Lamy GmbH has entered into an alliance with a few globally-renowned design studios. In 2017, the company collaborated with GR Industrial Design, a design studio based in Barcelona that provides customized design solutions to Lamy GmbH, for new product development.
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Writing Instruments Market Restraints
Focus on Profit over Volume May Restrain Market Growth: Writing instrument makers in a few regions such as Europe have decided to prioritize profitability over volumes by catering to demand from wealthier and more discerning customers. They produce high-end, luxury pens that can only be afforded by around ‘1 percent’ of the population, and the profit margins on these products are extremely high.
However, ignoring the middle- and low-income groups entirely in favor of high net worth individuals can negatively impact the growth prospects of the writing instruments market in the long run.
Rise of Touchscreen Devices Biggest Challenge: The millennial generation and Generation Z have grown up surrounded by touchscreen technology. They are extremely comfortable typing on touchscreen devices, be it computers, tablets, or smartphones.
New technologies that blur the line between conventional writing instruments and touchscreen typing have come into the foray now in the form of smart pens, styluses, etc. Key players in the writing instruments market need to market their pens to this important demographic to ensure sustained growth in the global writing instruments market.
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Regional Overview of Writing Instruments Market
The APAC region is estimated to account for a bulk of the global writing instruments market share in 2020, and this share is only expected to increase over the coming years. This highly populous continent is spearheaded by rapid economic growth in China, India, and Indonesia, and customers in these countries will continue to demand more writing instruments.
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COVID-19 Pandemic Impact on Writing Instruments Market
Along with trade and manufacturing restrictions in place across the world due to the COVID-10 pandemic, demand has also been affected for most non-essential markets. This has invariably hurt the short-term growth of the writing instruments market. Growth of the market is expected to pick pace in 2021 as manufacturing, trade, and demand pick up simultaneously.
A study on the global writing instruments market has led our analysts to conclude that, the market is poised to expand at a CAGR of around 4% from 2020 to 2030. Highest demand will come from the Asia Pacific region. Manufacturers in the writing instruments market can target tech-smart millennial and Generation Z consumers to increase their sales and profit margins in this market space.
Writing Instruments Market: Segmentation
PMR’s research study on the global writing instruments market offers a detailed market analysis, wherein, key segments have been discussed in detail. The segmentation of the writing instruments market has been offered on the basis of product, end user, distribution channel, and region. Every segment has been analyzed in detail, and data pertaining to the growth of each segment has been included in the study.
The writing instruments market research report includes a competitive landscape that provides a dashboard view of key competitors operating in the market.
Writing Instruments Market: Key Questions Answered
The research study offers inclusive insights about the growth of the writing instruments market in the most comprehensible manner for the better understanding of readers. Key insights offered in this report answer some of the salient questions that assist stakeholders in gauging all emerging possibilities.
- How have rapidly changing consumer perspectives acted as a major growth engine for the writing instruments market?
- How does e-Commerce boost the growth of the writing instruments market?
- What are the key trends that are constantly shaping the growth of the writing instruments market?
- Which are the prominent regions offering plentiful opportunities for the market?
- What are the differential strategies adopted by key players to command a significant chunk of the global market share?