An increase in the growth of schools around the world, followed by the rising literacy rate and the increasing number of government initiatives to support education across countries, are the major factors contributing to the growth of the global stationery market.
Dublin, Ireland – July 11, 2020 /MarketersMedia/ —
The major factor that is contributing to the growth of the stationery market is the increasing number of educational institutions across the globe. Additionally, the growing literacy rate in the emerging economies is further surging the growth of the market in the coming years. For example, in 2015, South Africa’s literacy rate was around 94.0%, whereas, in 2013, it was around 92.0%. The expanding number of government’s initiatives to support education, along with the growing brand awareness and disposable income among the consumer is driving the market for luxury pens, thus accelerating the demand of the stationery market. As per the stationery market analysis, globalization is another factor that is responsible for the growth of the stationery market. It has led to the expansion of the multinational organizations in various countries, which in turn, is boosting the stationery market size.
On the other edge of the spectrum, the rapid digitalization and the emerging trend of smart classrooms and green schooling are expected to hinder the market growth. In addition to this, the outbreak of the COVID-19 pandemic has resulted in the temporary shutdown of schools, educational institutes, and colleges around the world, which has adversely impacted the demand for stationery. However, the industry is likely to recover in the coming years due to the increasing popularity of e-commerce sales. The stationery market is expected to bounce back in 2021 while growing at a significant rate from 2022 onwards.
On the basis of the product, the paper-based segment is poised to expand in the next six years. This is attributed to the increasing application of paper for printing, especially in the government and corporate offices. Moreover, the introduction of several coaching centers has also resulted in an upsurge in demand for paper in the coming years. The multiple uses of paper, such as for printing question papers, assignment sheets, and architectures, will further enhance the demand of the segment in the market.
Read Full Stationery Market Report Insights: https://www.gmiresearch.com/report/global-stationery-market-by-product-type-opportunities-forecast/
Based on the application, the educational institute segment is predicted to emerge as the maximum revenue generating segment over the forecast period. The expanding number of schools and colleges and the rapid increase in the population rate are the two factors that are responsible for the growth of the segment in the stationery market. Moreover, the emerging trend of studying abroad is further impacting the growth of the market. For example, according to the US Embassy report, there has been a rise of 12% in the number of Indian students in US universities. Despite of the rapid digitization in the corporate sector, the paper remains the prominent stationery product that is used in the industry.
On the basis of the region, the Asia-pacific region is anticipated to lead the stationery market in the next six years. The key drivers driving the growth of the Stationery market size in this region include the accelerating usage of different types of stationery products and the expanding number of educational institutes in both rural and urban areas of the Asian countries.
On the other hand, the Middle East and Africa region is expected to witness considerable growth over the forecast period. This is attributed to the growing awareness regarding education, especially in the Middle East countries and the emerging trend of educating females in this region. Furthermore, the accelerating number of schools in the African region driven by the numerous government initiatives and donations from around the world is further surging the market growth in this region.
The key players of the stationery market are Faber-Castell, 3M, Staedtler, Maped, Muji, Artline, Fullmark, Reynolds Pens, Linc Pens & Plastics Ltd., and Mead, among others.
The research report on the stationery market provides an in-depth analysis of the market revenue based on product, application, and region for the forecast period from 2020 to 2027. The report highlights the major market drivers propelling the growth as well as challenges faced by the market participants. The research report also provides market size and forecast for the market. The report also analyses the competitive landscape, major players, and their strategies in 2019. The competitive landscape section of the report captures and highlights the recent developments in the market.
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