Writing Instruments Market Growth & Trends
The global writing instruments market size is expected to reach USD 23.94 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.4% from 2024 to 2030. The introduction of innovative multipurpose writing instruments such as pens, pencils, and coloring pens for school and institutional usage is expected to increase demand and scope of coloring instruments globally. This trend is expected to remain a prominent factor in augmenting product demand throughout the forecast period. Key companies have been amplifying their product portfolios by incorporating new and innovative products to gain maximum market share.
The introduction of new and innovative multipurpose writing instruments has played an important role in broadening product scope. Manufacturers are developing new product offerings such as stylus pens, colored inks, and pencils in various sizes. Furthermore, businesses are implementing innovative solutions to expand the application scope among students.
The pens segment led in terms of revenue share in 2023 and is expected to witness progressive growth in demand during the forecast period. Pens are classified according to their ink colorants and ink composition. The availability and accessibility of a diverse range of pen types such as ballpoint pens, rollerball pens, gel pens, and ink pens at various price points boosts the demand for pens among users. The coloring instruments segment is also expected to witness steady growth during the forecast period owing to the growing awareness among students and professionals regarding the importance of highlighters, markers, and other coloring pens.
Students accounted for the largest share in the industry in terms of application in 2023 and this segment is anticipated to expand at the fastest CAGR of 4.7% from 2024 to 2030. The global student population continues to increase, resulting in a steadily rising customer base for writing instrument manufacturers. As educational opportunities expand and literacy rates improve, more students are enrolling in schools, colleges, and universities thus driving market growth.
The stationeries distribution channel segment is expected to lead the segmental share due to its benefits such as the opportunity to test and try a product before purchase. These products are affordable and accessible as they are available at low prices across stationeries. The instant buying of such products from stationery stores is expected to drive consumers to opt for stationaries as a selling medium.
The Asia Pacific region is projected to lead this market through 2030 on account of increasing awareness regarding the importance of education among the young population in this region. Government initiatives on the expansion of educational institutions across developing countries such as India, Bangladesh, Sri Lanka, and other countries for betterment of the educational sector are expected to set new opportunities for the writing instrument market. New product launches and establishment of strategic business units in developing economies including China and India are expected to remain key growth strategies among the industry participants.
Request a free sample copy or view report summary: Writing Instruments Market Report
Writing Instruments Market Report Highlights
- Pens accounted for a dominant global revenue share of 36.0% in 2023. Pens are classified according to their ink colorants and ink composition. The availability and accessibility of a diverse range of pen types such as ballpoint, rollerball, gel, and ink pens at various price points boosts their demand among users.
- Students contributed the largest revenue share among applications, generating a revenue of over USD 10 billion in 2023. Writing instruments are essential tools for students in their academic pursuits.
- Stationeries accounted for a leading revenue share of 35.8% in 2023. This segment has been gaining traction owing to benefits offered by stationeries such as physical verification of products before purchase.
- Asia Pacific held a share of over 31.3% of the global market in 2023, on account of an increasing awareness regarding the importance of education among this region’s younger population.
Access Press Release@ https://www.grandviewresearch.com/press-release/global-writing-instruments-market
Writing Instruments Market Segmentation
Grand View Research has segmented the global writing instruments market report on the basis of product, application, distribution channel, price range, and region:
Writing Instruments Product Outlook (Revenue, USD Million, 2018 - 2030)
- Pen
- Ball Point Pen
- Gel Pen
- Fountain Pen
- Others
- Pencil
- Graphite Pencil
- Mechanical Pencil
- Coloring Instruments
- Highlighters and Markers
- Others
Writing Instruments Application Outlook (Revenue, USD Million, 2018 - 2030)
- Students
- Working Professionals
- Institutions
Writing Instruments Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)
- Stationaries
- Hypermarket/Supermarket
- Departmental Stores
- Online
Writing Instruments Price Range Outlook (Revenue, USD Million, 2018 - 2030)
- Low (less than 20$)
- Mid (20$ - 100$)
- High (above 100$)
Writing Instruments Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- US.
- Canada
- Mexico
- Europe
- Germany
- UK.
- Spain
- Italy
- France
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia & New Zealand
- Central & South America
- Brazil
- Argentina
- Middle East & Africa
- South Africa
- UAE
- Saudi Arabia
List of Key Players in the Writing Instruments Market
- Faber-Castell AG
- Newell Brands, Inc.
- Mitsubishi Pencil Co., Ltd.
- Linc Limited
- Hindustan Pencils Private Limited
- Flair Writing Industries Limited
- Shanghai M&G Stationery Inc.
- Pentel Co., Ltd.
- Luxor
- Pilot Corporation of America
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
No comments:
Post a Comment