LONDON--(BUSINESS WIRE)--Technavio’s latest consumer and retail industry report covers the present scenario and growth prospects of the global writing and marking instruments market 2015-2019.
In this report, Technavio’s retail goods and services research experts announce their key market highlights for the global writing and marking instruments market. Their findings include:
Global writing and marking instruments market expected to grow at a CAGR of 4.58% during the period 2015-2019
The global writing and marking instruments market is expected to grow at a steady rate during the forecast period and reach USD 20.24 billion by 2019, growing at a CAGR of 4.58%. This growth is mainly driven by the growing population, increasing workforce, increasing emphasis on education, and ongoing efforts to improve the literacy rate in developing regions.
The report states that one of the major drivers for market growth is the rising student base and literacy rates in developing countries. Schools and universities are the core source of the demand for the writing and marking instruments category. In recent years, the consumer base of writing instruments has also expanded to reach toddlers.
Ukraine accounts for 2.5 million students, in addition to 1.5 million children in pre-schools, and 0.5 million in vocational and technical schools. The number of new enrolments in schools has been growing steadily in the South and West Asian regions. In 2012, around 66% more children globally had access to pre-primary education and 50 million more children enrolled in primary schools compared to 1999. Globally, 25% of the countries were able to reduce the levels of adult illiteracy by 50%.
Brijesh Kumar Choubey, one of Technavio’s lead analysts for retail goods and services research, says, “The government of India also lays strong emphasis on improving literacy rates and has set up an enrolment target of 35.9 million students in higher education institutions by the end of 2019. The government also plans to establish senior secondary schools within three miles of every village cluster.”
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Pens segment dominated the overall market in 2014 with a market share of 52%
Based on product type, the global writing and marking instruments market can be categorized into five segments, which include pens, pencils, coloring writing instruments, markers and highlighters, and writing accessories.
The pens segment dominated the global writing and marking instruments market in 2014 with a share of around 52%. The factors contributing to the growth of this segment are the growing demand for better quality writing gear, innovations and new product launches, leading vendors offering pens in the affordable luxury segment, and people's perception of owning luxury pens as a status symbol.
“Although, the market for pens is being negatively affected by the growing adoption of electronic devices like tablets and smartphones and the growing transition to a paperless world, the demand for pens will continue because of product innovations and the availability of better designs,” says Brijesh.
APAC dominated the global writing and marking instruments market in 2014 with a market share of close to 34%
In 2014, APAC dominated the global writing and marking instruments market and the region is expected to continue its dominance during the forecast period. Increasing emphasis on education and the growing demand for quality writing instruments are the key propellers of the growth in the region. Increasing use of electronic devices like tablets and smartphones had an impact on most countries in the region, but it is unlikely that these electronic devices will replace the market for writing and marking instruments in the region.
The writing instruments market in APAC is mature and highly fragmented with a large number of players competing for the market share. Manufacturers are implementing innovative strategies like better packaging, product bundling, and new product launches and investing heavily in marketing activities to drive the sales.
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