Marker Pens Market to Reap Over US$ 397.9 Mn in Revenues by end of 2026: Persistence Market Research
NEW YORK, September 12, 2018 /PRNewswire/ --
According to the report on the global marker pen market, revenue from the sales of marker pens is projected to reach US$ 397.9 Mn by 2026 end from an estimated US$ 317.0 Mn in 2018.
(Logo: https://mma.prnewswire.com/media/661339/Persistence_Market_Research.jpg )
Marker pens have come a long way as key components of stationery across educational institutions and business establishments. The two main types of marker pens - permanent and non-permanent - find wide application across industries. Marker pens come in both refillable and disposable categories and disposable pens are the most preferred, registering high Year-on-Year growth rates - as indicated in a new market research study by leading research firm Persistence Market Research.
According to the report on the global marker pen market, revenue from the sales of marker pens is projected to reach US$ 397.9 Mn by 2026 end from an estimated US$ 317.0 Mn in 2018. This reflects a CAGR of 2.9% during the eight year period from 2018 to 2026. A key driver of revenue growth in the global marker pen market is the increasing demand from manufacturing units, companies, educational institutions, and the services sector especially in developing countries.
Product Differentiation to Rule Global Marker Pen Market; Production and Raw Material Cost Optimization to Drive Demand for Writing Instruments
Request For Report Sample: https://www.persistencemarketresearch.com/samples/24199
Writing instruments are easy to manufacture and coupled with rising imports of raw material at cheaper prices, the supply of writing instruments such as marker pens has increased considerably, and this is anticipated to boost revenue in the global market for marker pens in the coming years. Product differentiation is a key strategy adopted by players in the global marker pen market. The Asia Pacific region is witnessing a growing demand for marker pens, and local manufacturers are focusing on differentiating their product offerings by launching innovative and designer marker pens with multipurpose functionalities.
Some of the innovative products launched in the global marker pen market include scented markers, refillable markers, xylene free markers, twin tip markers, neon permanent markers, coloring markers, specialized markers for artistic purposes, markers with UV resistant ink (to prevent fading), markers in ultra-vivid and fluorescent colors, and markers manufactured from recyclable material.
Consumer Penchant for Marker Pens Manufactured from Biodegradable and Recyclable Material and Preference for Multifunctional Pens Trending the Global Market
Marker Pens Market Segmentation By Product Type - Permanent, Non-Permanent; Category-Refillable, Disposable; Usage Type - Fabric, Paper, Plastic & Whiteboard, Metal, Glass, Wood, Leather, Others ; End Use - Academic Institutions, Commercial, Residential; Tip Type - Fine & Extra Fine, Medium, Bold; Sales Channel - Supermarket/Hypermarket, Departmental Stores, Stationery Stores, Online and Other Channels: https://www.persistencemarketresearch.com/market-research/marker-pens-market.asp
Consumers in the markets of Europe and Asia Pacific are increasingly demanding writing instruments manufactured from biodegradable waste and recyclable material. Recyclable PET pens - manufactured from recycled PET bottles - are in great demand in these regions. This has pushed manufacturers of marker pens to bring in sustainability in their product offerings by using environmentally friendly raw material to manufacture marker pens.
Demand for marker pens with multiple uses is another trend being observed in the global market. To compete in this market, companies are launching marker pens in different colors as a single pack to provide diverse color options to consumers. Further, to sustain in a market where electronic gadgets backed by latest technologies are being preferred over conventional products, manufacturers based in Europe are offering writing instruments with add-ons. European manufacturers are innovating in their product offerings and are launching products such as a combination of pens and markers with a stylus or a highlighter. The main objective of these dual-purpose writing instruments is to offer users the convenience of a single instrument that can be used for writing purposes and as a stylus for tablets and smartphones.
Download and View Report TOC, Figures and Tables @ https://www.persistencemarketresearch.com/methodology/24199
Global Marker Pen Market Plagued by Pricing Challenges and Unorganized Distribution Channels
The marker pen market in the Asia Pacific is a volume driven market, with companies offering products at reduced prices, owing to the low commodity pricing for writing instruments in the region. The unorganized sector is relatively strong in this region, with several smaller players offering marker pens at low prices. This factor is impacting revenue in the Asia Pacific marker pen market, in turn restraining revenue growth of the global market.
Modern retail formats are the key revenue spinners in certain regional markets of developing countries, as a large part of sales revenue is generated from these distribution channels. However, traditional distribution channels such as brick-and-mortar commerce and convenience stores still hold sway in some of the markets in these regions, where consumers prefer conventional retail channels to purchase writing instruments such as marker pens. The presence of fragmented distribution channels is expected to impact revenue generation in the marker pen market in certain developing regions, thereby challenging revenue growth of the global market.
More from PMR's Consumer Goods Intelligence:
Corrugated Packaging Market Segmented by (Product Type - Single wall board, Single Face board, Double wall board, Triple wall board; Packaging Type - Box, Crates, Trays, Octabin, Pallet, Others; End Use - Food & Beverage, Electrical & Electronics, Home care products, Personal care products, E-commerce, Transportation & Logistics, Healthcare, Others: https://www.persistencemarketresearch.com/market-research/corrugated-packaging-market.asp
Natural and Organic Personal Care Products Market Segmented (By Application - Skin Care, Hair Care, Oral Care, Cosmetics, Others (Deodorants, Toiletries and Feminine Hygiene Products); By Distribution Channel - Hypermarkets/Supermarkets, Specialist Stores, Drug Stores, Online Retail, Direct Sales)
Foodservice Disposables Market Segmented (By Product Type - Plates, Cups and Glasses, Trays and Containers, Cutlery, Bowls and Tubs, Other (Napkin and Foil wraps); By Raw Material - Paper and Paperboard, Plastics, Aluminum; By End-Use - Restaurant, Retail Store, Institution, Other)
https://www.persistencemarketresearch.com/market-research/foodservice-disposables-market.asp
Persistence Market Research Overview
Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.
To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.
Contact
Persistence Market Research
U.S. Sales Office:
305 Broadway, 7th Floor
New York City, NY 10007
+1-646-568-7751
United States
USA - Canada Toll-Free: 800-961-0353
Email: sales@persistencemarketresearch.com
PMR Latest News:https://www.persistencemarketresearch.com/news
SOURCE Persistence Market Research Pvt. Ltd.
Share this article