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Writing Instrument Market to Reach $18.1 Billion, Globally, by 2032 at 4.6% CAGR: Allied Market Research

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Allied Market Research

17 Jul, 2023, 14:30 GMT

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The global writing instrument market is driven by the growing demand for writing instrument from the corporate sector.

PORTLAND, Ore., July 17, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Writing Instrument Market by Product Type (Pen, Pencil, Coloring Instruments, Highlighters and Markers, and Others), End User (Students, Professionals, and Institutions), Price Points (Premium and Economic) and Distribution Channel (Hypermarket/Supermarket, Specialty Stores, Online Sales Channel, and Others): Global Opportunity Analysis and Industry Forecast, 2023–2032.". According to the report, the global writing instrument market was valued at $11,720.4 million in 2022, and is projected to reach $18,056.5 million by 2032, registering a CAGR of 4.6% from 2023 to 2032.


Download Sample of this report: 
https://www.alliedmarketresearch.com/request-sample/11211

Prime determinants of growth

Growing demand for writing instrument from the corporate sector is boosting the growth of the global writing instrument market during the forecast period. However, one of the main restraints of writing instrument is rapid rise in the use of digital devices such as laptops and mobile phones by the consumers. On the other hand, introduction of multifunctional writing instruments with creative innovation are creating lucrative opportunities for market growth.

Report coverage & details:

Report Coverage

Details

Forecast Period

2023–2032

Base Year

2022

Market Size in 2022

$11,720.4 million

Market Size in 2032

$18,056.5 million

CAGR

4.6 %

No. of Pages in Report

425

Segments covered

Product Type, End User, Price Point, Distribution Channel, and Region.

Drivers

Growth in literacy rate among the underdeveloped regions

Growth in popularity of calligraphy and hand-lettering

Growth in demand for writing instruments from the corporate sector

Opportunities

Introduction of innovative multifunctional writing instruments

Increase in demand for customizable and personalized products

Restraints

Growth in technological advancements

Rise in environmental concerns among the customers

Procure Complete Report (425 Pages PDF with Insights, Charts, Tables, and Figures): https://www.alliedmarketresearch.com/checkout-final/955df2f45aec35ce1f4f9d17cbde7b98

The pen segment to maintain its leadership status throughout the forecast period

By product type, the pen segment held the highest market share in 2022, accounting for more than one-third of the global writing instrument market revenue and is estimated to maintain its leadership status throughout the forecast period. A wide range of products are now available in the market for pens which are coupled with innovation and creativeness to cater the demand of customers. Innovative designs, superior textures, and combination of pen with stylus & other writing instrument are constantly being introduced by manufacturers. The coloring instrument products segment, however, would showcase the fastest CAGR of 5.9% during the forecast period. Consumer demand for coloring instruments such as crayons made from pastels and wax has significantly increased. Numerous factors, such as increasing emphasis on drawing & painting competitions, growing importance of art as a subject, and increase in number of students joining schools, are behind the rapid growth of this segment.

The student segment to maintain its leadership status throughout the forecast period

By end users, the student segment held the highest market share in 2022, accounting for nearly half of the writing instrument market share and is estimated to maintain its leadership status throughout the forecast period. Children population has seen a rapid increase in the global world population, along with that the higher rate of people understanding the value of education with dynamic changes around them has driven the growth of this segment. The same segment would also showcase the fastest CAGR of 5.5% during the forecast period. The increased effort of government of respective countries to implement different schemes to motivate children to register themselves in the primary schools is significantly boosting the growth of the segment in the anticipated period.

The others distribution channel segment to maintain its leadership status throughout the forecast period

By distribution channel, the others segment held the highest market share in 2022, accounting for around one-third of the global writing instrument market share and is estimated to maintain its leadership status throughout the forecast period. Other stores provide products at the convenience of customers, which boost the sale of these products. The online sales channel segment would showcase the fastest CAGR of 6.8% during the forecast period. Consumers currently prefer to purchase writing instrument products online since it is easy and offers a wide variety of brands that are not accessible in stores.

Enquire before buying: https://www.alliedmarketresearch.com/purchase-enquiry/11211

Asia-Pacific to maintain its dominance by 2032

By region, Asia-Pacific held the highest market share in terms of revenue in 2022 accounting for nearly two-fifths of the global writing instrument market share and is likely to dominate the market during the forecast period. The same region is expected to witness the fastest CAGR of 5.5% from 2023 to 2032. Consumers in Asia-Pacific are embracing initiatives taken by the government to increase the literacy rate and make education accessible for the poor children to complete their basic education.

Leading Market Players: -

  • Faber-Castell
  • Linc Pen and Plastics Private Limited
  • Mitsubishi Pencil Co., Ltd.
  • Flair Writing Industries Limited
  • Hindustan Pencils Private Limited
  • Shanghai M&G Stationery Inc.
  • Pentel Co., Ltd.
  • Luxor Writing Instruments Pvt. Ltd.
  • BIC USA Inc. (BIC)
  • Newell brands
  • Caran d'Ache
  • A. T. Cross Co. LLC.
  • Tombow Pencil Co.
  • Ltd., Zebra Co., Ltd.
  • KOKUYO Co., Ltd.
  • Crayola, LLC

The report provides a detailed analysis of these key players in the global writing instrument market. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Similar Reports We Have on Consumer Goods Industry:

• Canada Writing Instrument Market Opportunity Analysis and Industry Forecast, 2022-2032
• Mexico Writing Instrument Market Opportunity Analysis and Industry Forecast, 2022-2032
• Europe Writing Instrument Market Opportunity Analysis and Industry Forecast, 2022-2032
• UK Writing Instrument Market Opportunity Analysis and Industry Forecast, 2022-2032
• Germany Writing Instrument Market Opportunity Analysis and Industry Forecast, 2022-2032

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com/reports-store/consumer-goods
Follow Us on Blog: https://www.dailyreportsworld.com

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg

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