Global Writing Instruments Market

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 News

  • In August 2022, William Penn, an Indian premium writing instruments and lifestyle accessories company, acquired Sheaffer, the 110-year-old iconic American manufacturer of writing instruments, particularly known for its luxury fountain pens. William Penn will fund the deal through a mix of internal accruals and debt. It did not disclose the financial terms.
  • In June 2022, Pen Company of America (PCA) acquired Garland Writing Instruments and Ben-Art Manufacturing.
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Writing Instruments Market size was valued at USD 21.7 billion in 2019 and is poised to grow from USD 22.92 billion in 2023 to USD 34.97 billion by 2031, growing at a CAGR of 5.5% in the forecast period (2024-2031).

Writing instrument suppliers are finding new ways to limit their spending and increase their sales potential. These strategies are developed by reducing input costs and improving retailer strengths. Well-known companies evaluate their business chains and consider them in terms of both output and input. New strategic relationships with key suppliers or players to optimize performance could enable market participants to reduce overall costs. 'Faber-Castell', 'Newell Brands, Inc.', 'Société BIC SA', 'Pilot Corporation', 'Mitsubishi Pencil Co., Ltd.', 'Schneider Schreibgeräte GmbH', 'Pentel Co., Ltd.', 'Zebra Co., Ltd.', 'STABILO International GmbH', 'Pelikan Holding AG', 'Montblanc International GmbH', 'Staedtler Mars GmbH & Co. KG', 'Lamy GmbH', 'Tombow Pencil Co., Ltd.', 'Caran d'Ache SA', 'Sheaffer Pen Corporation', 'Waterman SA', 'Cross Pens', 'Aurora SpA', 'Parker Pen Company'

Rising number of educational institutions, commercial sector and new technological innovations are driving the growth of the central market value of advanced and new writing instruments, driving the growth of the general market. The introduction of new and innovative multi-purpose wrestling equipment has increased the demand in the market. On the other hand, declining disposable income and introduction of eco-friendly writing instruments are likely to create growth opportunities for the global writing instruments market during the forecast period.

Promotional items such as pens, t-shirts, outerwear and calendars are used by companies to promote themselves worldwide. The Promotional Products Association International (PPAI) piloted a market research survey in the United States to identify which kind of writing tool is used more by consumers. Research shows that 7 in 10 people in this country enjoy pen and paper and choose to remain anonymous. This creates an attachment to the brand. The need for writing instruments is also increasing in the office. An increase is expected among companies targeted for promotion. The large population is a key factor in increasing sales of writing instruments in the region and presents significant opportunities for market players operating in the region in the near future. With the increasing number of draftsmen and draftsmen, the demand for party instruments is also increasing. There is high demand for instruments in different colors and different calibers in this category, and sales are expected to increase significantly during the forecast period.

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.

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