Global Writing Instruments Market is Envisioned to Grow at a Remarkable CAGR of 5.3% By the End of 2024

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Mar 18, 2020, 03:11 EST

New York, United States, Mar 18, 2020, 03:11 /Comserve / -- The global writing instruments market is likely to grow on the back of rising disposable income of the consumers and increasing education awareness in developing and under developed countries.

The global writing instruments market is segmented into type such as pens, color, pencils, writing accessories, highlighters and markers. Among these segments, pens segment is expected to grow at substantial pace over the forecast period. Educational sector across the globe is expanding and creating a significant demand for writing instruments such as pen, pencil and others. Further, increasing number of educational institutions including schools, colleges and universities is a key factor which is fostering the growth of global writing instruments market.

Global writing instruments market is expected to register a 5.3% CAGR over the forecast period. Moreover, the global writing instruments market is likely to grow on the back of rising disposable income of the consumers and increasing education awareness in developing and under developed countries. Apart from this, increasing adoption of customized writing instrument is expected to bolster the growth of global writing instrument market in near future.

The office supplies and stationers segment by distribution channel grabbed major market shares in 2016. Further, increasing number of businesses and other organizations across the globe are increasing the consumption of writing instruments. Furthermore, rising trend for gifting luxurious or customized pens is also strengthening the growth of office supplies and stationers segment.

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Advancements in Writing Instruments

Manufacturers are continuously enhancing the functionality and design of writing instruments to increase the sales of their products. Further, growing trend of gifting personalized pens is fueling the growth of global writing instruments market. Further, continuous introduction of attractive designed pens and growing demand for personalized writing instrument are bolstering the growth of global writing instruments market.    

Writing Instruments for Promotional Activities

Massive adoption of writing instruments all over the globe for promotional activities is a major factor which is anticipated to be the dynamic factor behind the growth of global writing instruments market in near future. Additionally, growing adoption of custom promotional writing instruments for promotional purposes is also encouraging growth of the global writing instruments market

However, increasing penetration of computer electronics, rising penetration of touch screen technology and rising preference of consumer for touch screen writing are some of the challenges that are likely to restrict the growth of the writing instruments market in the near future.

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Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

This report also provides the existing competitive scenario of some of the key players of the global writing instruments market which includes company profiling of Mont Blanc, Crayola, Faber-Castell, Pilot Corporation, Montblanc International GmbH, STABILO International GmbH, BIC, Newell, Pelikan and Shanghai M&G Stationary. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global writing instruments market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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