The global writing instruments market size is expected to reach USD 22.9 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 7.4% over the forecast period. Growing awareness regarding the importance of education is expected to remain a key driving factor. Furthermore, increasing application of writing instruments used in promotional apparels and calendars is anticipated to drive the demand for these products in the upcoming years.
North America is expected to remain the fastest growing region, expanding at a CAGR of 8.3% from 2019 to 2025. This region is expected to witness growth on account of high spending power and constant innovative launches of new products, especially in U.S. Furthermore, high significance of education and increasing number of students and working professionals are generating more demand for these products in North America.
Asia Pacific dominated the industry in 2018 and is expected to witness significant growth in the coming years. This growth is attributed to growing awareness regarding educational importance and rapidly increasing population in the countries including China and India. This, in turn, is attracting more investors to invest in R&D so as to meet the needs and requirements of people for different skin types and needs.
Pen accounted for the largest share of 35.6% in 2018 owing to significant shift in the consumer preference from chemical to biodegradable and eco-friendly pens. Rise in the number of educational institutions and corporate offices globally has increased the demand for these products in different regions. Growing application of coloring instruments by artists and painters is anticipated to fuel the product demand over the forecast period.
Students accounted for the largest share in the industry in terms of application and generated a revenue of USD 7.8 billion in 2018. The working professionals segment is anticipated to expand at the fastest CAGR of 8.0% from 2019 to 2025. Growing incorporation of writing instruments in offices and ultimately in lives of working professionals is driving the segment.
Key industry players include Faber-Castle; Mitsubishi Pencil Co., Ltd.; Linc Pen and Plastics Private Limited; Luxor Writing Instruments Private Limited; Pilot (Pen Company); Flair Group of Companies; Newell Brands, Inc.; Hindustan Pencils Private Limited; Shanghai M&G Stationery Inc.; and Pentel Co. Ltd.
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Writing Instruments Market Report Highlights
• By product, the pen segment accounted for 35.6% share of the overall revenue in 2018
• Pencil products accounted for a share of 24.4% for the year 2018
• Europe is expected to register a CAGR of 7.9% from 2019 to 2025.
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Writing Instruments Market Segmentation
Grand View Research has segmented the global writing instruments market on the basis of product, application, distribution channel, and region:
Writing Instruments Product Outlook (Revenue, USD Billion, 2015 – 2025)
• Coloring Instruments
Writing Instruments Application Outlook (Revenue, USD Billion, 2015 – 2025)
• Working Professionals
Writing Instruments Distribution Channel Outlook (Revenue, USD Billion, 2015 – 2025)
• Departmental Stores
Writing Instruments Regional Outlook (Revenue, USD Billion, 2015 – 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
• South Africa
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Stationery Products Market Size, Share & Trends Analysis Report By Product (Paper Based, Ink Based), By Application (Educational Institutes, Corporates), By Region, And Segment Forecasts, 2019 – 2025
About Grand View Research
Grand View Research is a market research and consulting company registered in the State of California having its headquarters in San Francisco. The company offers syndicated research reports, customized research reports, and consulting services. With Grand View Research, you get an opportunity to understand market trends, insights, and business statistics from a strategic standpoint. With a deep-seated understanding of many business environments, Grand View Research offers business and market intelligence studies and accomplishes more than 300 multi-country market studies.
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