Product ID: SQSG30L2054
Global Writing Instruments Market Size, Share, Growth Analysis, By Product(Pencils (Graphite, Mechanical Pencils)), By Application(Students, Independent Professionals), By Distribution channel(Hypermarkets/ Supermarkets, Specialty Stores) - Industry Forecast 2024-2031
Report ID:
SQSG30L2054 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
100 |
Figures:
76
Global Writing Instruments Market Regional Insights
In North America, the U.S. dominated the market for writing instruments with a hefty share in 2021. To compete with high technology and promote the presence of writing instruments in electronic devices, US writing instrument manufacturers offer innovative products such as: B. Pen and stylus or highlighter and stylus combination. These two products are conveniently used together across the tech industry for mobile phones, tablets, and writing purposes. Selling multiple colors in one highlighter is expected to increase demand for this type of product. Customers are now interested in new product designs that offer multiple colors and multi-point tips increase. The expansion of the notebook market appears to have a positive impact on the demand for writing instruments in the US market as product diversity and technological innovation are expected to increase.
In Asia Pacific, India is a promising market for writing instruments and is expected to expand at a high CAGR during the forecast period. India is made up of different groups of consumers who respond differently to different inputs. The ready availability of materials, low manufacturing costs, and a highly cost-effective labor force in India are the main factors driving the growth of the writing instrument industry in the country. In addition, these factors also drive the growth of small and medium enterprises in the country. Rising literacy rate, increasing individual driven demand in India due to improved school standards and curriculum are the main factors driving the demand for writing instruments. The growing number of educational institutions is also expected to boost sales of writing instruments in schools and colleges across India.
In Europe, the UK is the lucrative market for writing instruments and is expected to grow at a CAGR of 1.9% over the forecasting period. Journaling has become a timeless practice among the people of this country as it allows them to record stories, memories, thoughts and disciplines. This practice leads to many positive outcomes such as improved mental health, greater work efficiency, and greater work-life balance satisfaction. Additionally, the evolving nature of environmental and social issues has led the UK's leading writing instrument manufacturers to make changes to minimize their carbon footprint. However, they share the same goal of reducing their use of single-use plastics and gradually going green to lead the movement for eco-friendly writing instruments.
Global Writing Instruments Market Report Snapshots
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