Writing Instruments Market to Cross US$ 30 Bn Valuation in 2030; Manufacturing and Demand Hit Due to COVID-19 Pandemic Crisis
Published On : Aug 06, 2020
In an era filled with touchscreen computers, tablets, and smartphones, it would seem as if writing instruments are things of the past. However, this could not be further from the truth, as writing instruments can never be completely replaced by modern technology, because there will always be a situation where a pen and paper are needed or preferred over their digital counterparts. The demand for pens will be the highest over the forecast period, with students being the most prominent end users.
Persistence Market Research has published a report on the writing instruments market, which is estimated to expand at a CAGR of around 4% over the next ten years, to be valued over US$ 30 Bn by 2030-end.
Key Takeaways from Global Writing Instruments Market Study
- The global writing instruments market is set to expand 1.5X by 2030.
- Asia Pacific held the largest share in the global writing instruments market in 2019, with East Asia holding a comparatively higher market share than South Asia. China ranks at the top among East Asian countries, while India accounts for a major market share among South Asian countries.
- Among the product types, the pens segment will account for a significant share of around 60% in the global writing instruments market.
- Stationers will be the most popular distribution channel in the writing instruments market.
- The COVID-19 pandemic will hurt the growth of the global writing instruments market in the short term.
“There is strong demand for writing instruments distributed in promotional activities, particularly in North America and Europe, to both, employees and customers, as this method is cost-effectiveness and has an immediate impact. In addition, manufacturers are trying to reduce their carbon footprint by turning to biodegradable material, recyclable plastics, and sustainable packaging to appeal to environmentally-conscious customers in the writing instruments market space,” says a PMR analyst.
Focus on Students for Increased Sales
Students represent the biggest opportunity in terms of end users in the writing instruments market. The students segment is on track to expand at a CAGR of around 5% through 2030, and account for more than half of the demand.
Global Writing Instruments Market: Competition Analysis
Persistence Market Research has profiled some of the most prominent companies active in the global writing instruments market, such as Société BIC SA, Faber-Castell, 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 Companies, Pentel Co. Ltd., Pelikan AG, Zebra Co. Ltd., and The Cumberland Pencil Co.
More Valuable Insights on Writing Instruments Market
Persistence Market Research released a new market research on the writing instruments market, covering global industry analysis 2015-2019 and forecasts 2020–2030. The writing instruments market study reveals compelling insights on the basis of product, end user, distribution channel, and region.
For additional information on how the writing instruments market will shape up in the near future, write to the team of expert research analysts at firstname.lastname@example.org
About Consumer Goods Division at Persistence Market Research
The Consumer Goods team at Persistence Market Research helps clients from all over the globe with their unique business intelligence needs by offering expert analysis, actionable insights, and strategic recommendations. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analyzed the consumer goods industry lucidly in 50+ countries for over a decade. We provide end-to-end research and consulting services; reach out to explore how we can help.
Writing Instruments Market
Global Market Study on Writing Instruments: Ever-rising Demand for Pens Boding Well for Market Growth
Global Market Study on Writing Instruments: Ever-rising Demand for Pens Boding Well for Market GrowthRequest TOC