A key factor driving the growth of the market is the increase in demand for multi-functional pens. With the increased integration of technology in our day-to-day lives, vendors in the global writing and marking instruments market have added multi-function pens in their product portfolios. These pens have multiple features and functions such as erasers, highlighters, styluses, laser pointers, flashlights etc. The ability to perform various functions with the help of a single writing instrument is expected to propel the demand for multi-functional pens during the forecast period.
This market research report on the global writing and marking instruments market 2018-2022 provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the high demand for eco-friendly products as one of the key emerging trends in the global writing and marking instruments market:
Global writing and marking instruments market: greater demand for eco-friendly products
Growing environmental consciousness and concern for a healthy environment have led to an increased demand for eco-friendly products. For instance, most writing and marking instruments are made from plastics, which are non-biodegradable, thereby harmful to the environment. Accumulation of these plastic materials can increase the toxicity in the air, soil, and water. To overcome these issues, vendors in the writing and marking instruments market are focusing on using eco-friendly alternatives such as recycled paper, sustainable bamboo, and FSC certified wood.
“Companies are aiming to reduce their carbon footprint while exercising corporate responsibility across the value chain of suppliers and customers. This is leading to an increased demand for eco-friendly biodegradable writing and marking instruments. Some of the popular examples of such products include the development of eco-friendly pens, pencils, markers, accessories, and crayons made of soya by BuyEcoGreen – an online division of Ecopaper,” says a senior analyst at Technavio.
Global writing and marking instruments market: Segmentation analysis
This market research report segments the global writing and marking instruments market by product (pens, pencils, coloring and writing instruments, marker and highlighters, and writing accessories) and by geographical regions (APAC, EMEA, and the Americas).
The pens segment accounted for the largest share of the market with over 54% of the market share in 2017. The market share of this segment is expected to increase further over the forecast period while the pencils, coloring and writing instruments, and markers and highlighters segments will lose some of their market shares. This can be attributed to the rising demand for luxury pens during the forecast period.
APAC is witnessing high growth in the market with a market share of over 36% in 2017. It was followed by EMEA and the Americas respectively. The market in APAC is expected to exhibit the fastest growth owing to factors such as increased emphasis on education and the growing demand for quality writing instruments.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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