According to the Market Statsville Group (MSG), the global writing instruments market size is expected to grow from USD 16,790.5 million in 2021 to USD 29,594.5 million by 2030, at a CAGR of 6.5% from 2022 to 2030. Most of these items may also be used for other purposes, such as painting and specialist drawing. The existence of educational facilities and the increase in the number of learning children are the primary factors driving the growth of the writing tools market.
Writing instruments are used in the architectural business for drawing or drafting plans. Major key players provide a wide range of functions to deliver a high-quality product for commercial use. In the beginning, children can learn through writing apps. Leading manufacturers are creating instruments in various styles to keep children active.
The growing education industry, commercial sector, and technological breakthroughs fuel global market growth. The availability of enhanced and novel feature writing devices drives worldwide market expansion. The introduction of new and innovative multifunctional writing equipment has boosted market demand. However, smart learning and digital devices for writing impede the worldwide market growth. On the other hand, an increase in disposable income and introduction of eco-friendly writing instruments may provide chances for growth in the writing instruments market over the projected period. The advancement of digitization and smart writing equipment is impeding the growth of the global market. Nowadays, organizations are entirely converting their paperwork to digital computer work; this digitization in many areas may pose a danger to market development in the next years.
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COVID-19 Impact on the Global Writing Instruments Market
Because of the COVID-19 pandemic, the market for writing implements has dropped. The closure of educational institutions and office sectors during the lockdown era has hampered worldwide growth in the writing instruments industry. The lockout has influenced workforce and resource availability, affecting the production size in the writing instruments business. Transportation limitations and the surging adoption of online classes have impacted the writing instruments industry.
The growing education industry, commercial sector, and technological breakthroughs fuel the global market growth. The availability of enhanced and novel feature writing instruments drives global market expansion. The introduction of new and innovative multifunctional writing equipment has boosted market demand.
The advancement of digitalization and smart writing equipment is impeding the growth of the global market. Nowadays, organizations are entirely converting their paperwork to digital computer work; this digitization in many areas may pose a danger to market development in the coming years. However, smart learning and digital writing devices impede the global market growth.
Increased disposable income and introducing eco-friendly writing tools may allow the writing instruments market to develop over the forecast period. The availability of natural and recyclable materials in production has expanded the scope and demand for pens worldwide. Furthermore, using eco-friendly colors in coloring instruments such as crayons and sketch pens will likely drive the market’s growth.
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Scope of the Global Writing Instruments Market
The study categorizes the writing instruments market based on product type, application, and distribution channel at the regional and global levels.
By Product Type Outlook (Sales, USD Million, 2017-2030)
- Coloring Instruments
By Application Outlook (Sales, USD Million, 2017-2030)
- Working Professionals
By Distribution Channel Outlook (Sales, USD Million, 2017-2030)
- Departmental Stores
By Region Outlook (Sales, USD Million, 2017-2030)
- North America
- The Netherlands
- Czech Republic
- Rest of Europe
- Asia Pacific
- South Korea
- Australia New Zealand
- Rest of Asia Pacific
- South America
- Rest of South America
- The Middle East Africa
- Saudi Arabia
- South Africa
- Northern Africa
- Rest of MEA
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Students segment is projected to account for the largest market share by application
Based on the application, the global writing instruments market is divided into students, working professionals, and institutions. The students segment has dominated the market with the largest share in 2021. This increase can be ascribed to a greater awareness of the value of education among the global population. Government initiatives and regulations to encourage more students, particularly women, to pursue education in underdeveloped or emerging countries such as China, India, and Brazil are projected to drive category growth. These variables are expected to broaden the range of writing tools in the near future.
Stationeries is projected to account for the largest market share by distribution channel
Based on the distribution channel, the global writing instruments market is divided into stationaries, hypermarkets/supermarkets, and departmental stores. The stationeries segment has dominated the market with the largest share. This market is gaining popularity due to advantages such as physical product inspection before purchase. Furthermore, the availability of an in-store expert to assist customers in selecting the right product and rapid purchasing is predicted to motivate consumers to prefer stationery as a selling medium.
Asia Pacific accounts for the highest CAGR share during the forecast period
Based on the regions, the global writing instruments market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East Africa. Globally, Asia Pacific is estimated to hold the highest CAGR in the global writing instruments market during the forecast period. Factors such as huge population, rise in disposable income, and the frequent introduction of new items enable many customers to increase their expenditure on writing instruments.
Key Market Players in the Global Writing Instruments Market
The global writing instruments market is highly competitive, with key industry players adopting strategies such as product development, partnerships, acquisitions, agreements, and expansion to strengthen their market positions. Most market companies focus on expanding operations across regions, augmenting their capabilities, and building strong partner relations.
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Major players in the global writing instruments market are:
- Mitsubishi Pencil Co., Ltd
- Linc Pen and Plastics Private Limited
- Luxor Writing Instruments Private Limited
- Pilot (Pen Company)
- Flair Group of Companies
- Newell Brands, Inc
- Hindustan Pencils Private Limited
- Shanghai MG Stationery Inc
- Pentel Co. Ltd.