Albany, New York, October 4, 2017: The global writing instruments market growth has been stopped in its tracks owing to the growing shift from physical to digital. As keyboards and touch panels penetrate every walk of life, the need for purchasing writing instruments has diminished to a great extent. Global revenues are likely to grow at a sluggish CAGR of over 3% to reach US$ 24 bn by 2025. These insights are according to a new report, titled, “Global Market Study on Writing Instruments: Pen Product Type Segment to Record the Highest Value and Volume CAGR During 2017 – 2025” added to the repository of Market Research Reports Search Engine (MRRSE).
According to the report, demand for writing instruments will remain sluggish during the forecast period 2017-2025. Institutional buyers, such as universities and corporates – who buy writing instruments in bulk – continue to offer growth opportunities to buyers. In a bid to appeal to wider audience base, manufacturers are trying to focus on sustainability. Use of biodegradable products in manufacturing writing instruments has witnessed an increase, and the trend is likely to gain momentum in the foreseeable future.
The writing instruments market is volume-driven, and unsurprisingly, China and India remain lucrative markets globally. In addition to China and India, demand for writing instruments in other Asian countries is also quite significant. On account of these factors, APAC has remained one the leading markets for writing instruments globally. The APAC writing instruments market is likely to reach US$ 12 bn in revenues, accounting for nearly half of global revenues.
Among all the writing instrument product types, pens remain the largest selling, accounting for nearly 80% revenue share of the market. It is projected that pens will continue to be the largest selling product type globally during the projected period.
Students remain the most lucrative target audience for manufacturers, and as more students enter the fray, opportunities are likely to grow for global manufacturers. Sales of writing instruments to this demographic is likely to reach nearly US$ 9 bn by the end of 2017.
By distribution channel, stationers remain the most prominent, and are likely to grow at nearly 3.9% CAGR during the forecast period. It is projected that sales of writing instruments through this sales channel will reach nearly US$ 11 bn by 2025.
The leading players in the global writing instruments market include Linc Pen & Plastics Ltd., Faber-Castell, Kokuyo Camlin Limited, Pentel Co. Ltd., Pelikan AG, Pilot Corporation, Newell Brands, Inc., Shanghai M&G Stationery Inc., STAEDTLER Mars GmbH & Co. C Josef Lamy GmbH Srl Schneider Schreibgeräte GmbH, Mitsubishi Pencil Co., Ltd., Schwanhäußer Industrieholding GmbH & Co. KG, Société BIC SA, KG, Luxor Writing Instruments Private Limited, Hindustan Pencils Private Limited, Moleskine SpA, Flair Group of Compaies, Zebra Co. Ltd., and The Cumberland Pencil Co.
Browse Full Global Writing Instruments Market Report with TOC : https://www.mrrse.com/writing-instruments-market
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