Growth Opportunities in the Stationery Market look promising over the next six years. This is mainly due to the growing number of educational institutions, the rising literacy rate in developing countries, rapid globalization, the growing number of government initiatives to support education, and the rising brand awareness and disposable income among the consumer.
Stationery Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
The growing number of educational institutions at a global level is a key driver contributing to the growth of the stationery market size. Furthermore, the rising literacy rate in the developing countries is further surging the growth of the stationery market during the forecast period. According to the stationery market statistics states that for instance, South Africa’s literacy rate was about 94.0% in 2015, whereas, in 2013, it was around 92.0%. The rising number of government initiatives to support education and the growing brand awareness and disposable income among the consumer is further propelling the growth of the market for luxury pens, thereby fuelling the demand of the stationery market. Rapid globalization is one of the emerging stationery industry trends that will have a positive influence on the market’s demand.
On the other hand, the emerging trend of smart classrooms and green schooling, and increasing digitalization will hamper the growth of the stationery market. As per the stationery industry analysis, the emergence of the COVID-19 pandemic has negatively impacted the demand for stationery as there was a temporary shutdown of educational institutes, schools, and colleges worldwide. However, the global stationery market will bounce back during the forecast period due to the increasing popularity of e-commerce sales. The stationery market is expected to bounce back in 2021 while increasing at a significant rate from 2022.
Product Segment Drivers
Based on the product, the paper-based is projected to rise at a higher CAGR in the coming years due to the increasing application of paper for printing, particularly in the government and corporate offices. Additionally, the launch of several coaching centers driven by the rising demand for paper in the upcoming years will energize the market growth. The multiple utilization of paper, including assignment sheets, printing question papers, and architectures, will further boost the markets’ demand.
Application Segment Drivers
Based on the application, the educational institute is projected to lead the market in the coming years due to the growing number of colleges and schools and the increasing population rate. In addition to this, the emerging trend of studying abroad is further accelerating the growth of the market. For instance, as per the US Embassy report, there has been an upsurge by 12% in the number of Indian students in US universities.
Stationery Market’s leading Manufacturers:
- Reynolds Pens
- Linc Pens & Plastics Ltd.
Stationery Market Segmentation:
Segmentation by Product:
- Paper Based
- Ink Based
- Art Based
Segmentation by Application:
- Educational Institutes
Segmentation by Region:
- North America
- United States of America
- Asia Pacific
- Rest of APAC
- United Kingdom
- Rest of Europe
- South Africa
- Saudi Arabia
- Rest of the world (remaining countries of the LAMEA region)
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