LONDON--(BUSINESS WIRE)--The school stationery supplies market size is expected to post a CAGR over 3% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The growing emphasis on product personalization is one of the major reasons for the growth of the market. Several vendors are offering notebooks, pens, pencil cases, book covers, labels, and other school stationery incorporated with a high degree of personalization to connect better with student consumers. Rapid development in printing technology and software have enabled vendors to provide highly customizable designs, thereby connecting with and instilling a sense of ownership among students. Furthermore, vendors offer product personalization to inculcate an emotional dimension to their product at virtually no additional cost to the consumer.
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As per Technavio, the innovations in products such as notebooks will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
School Stationery Supplies Market: Product Innovations in Notebook
There is intense competition among vendors in the global school stationery supplies market due to the fragmented nature of the market and largely undifferentiated nature of products. This has resulted in a growing emphasis on product innovation in school stationery supplies over the last few years. Vendors are incorporating innovation not only in writing and computer-based stationery supplies but also in paper products. In January 2018, ITC announced that they are developing augmented reality (AR) techniques for their Classmate brand of notebooks. Such innovations will drive the growth of the market during the forecast period.
“Apart from product innovations in notebooks, other factors such as the rising popularity of omnichannel retail, and the shift of production facilities to emerging economies will have a positive impact on the school stationery supplies market growth during the forecast period,” says a senior analyst at Technavio.
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School Stationery Supplies Market: Segmentation Analysis
This market research report segments the school stationery supplies market by product (paper products, computer, and daily use stationery products, writing instruments) and geographical regions (APAC, Europe, North America, South America, MEA).
The APAC region led the market in 2018, followed by Europe, North America, South America, and MEA respectively. During the forecast period, the APAC region is expected to maintain its lead and register the highest incremental growth, due to the rapid growth of the education sector in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- 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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