LONDON--(BUSINESS WIRE)--The writing and marking instruments market is expected to grow by USD 6.07 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. As per Technavio, the impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on full-year economic growth. Request a free sample report
The growing emphasis on product personalization is one of the key factors anticipated to contribute to the market growth during the next few years. Several vendors are offering highly personalized writing and marking instruments including personalized pens, pencils, coloring pens, and highlighters to attract consumers. In addition, vendors are offering writing instruments with customized print designs based on the branding requirements. Product personalization helps vendors add an emotional dimension to products which will help to boost the growth of the market.
To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR40051
As per Technavio, the rising popularity of omnichannel retail will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Writing And Marking Instruments Market: Rising Popularity Of Omnichannel Retail
Vendors are experimenting with the distribution of their range of writing and marking instruments across different platforms including retail stores and e-commerce channels. They are reaching out to a larger target audience through omnichannel retailing to boost sales and increase product outreach. Furthermore, several vendors with already established conventional retail outlets are creating a competitive edge by offering writing and marking instruments through company websites and online e-commerce portals including Amazon.com. Thus, the growing emphasis on omnichannel retail distribution by vendors across the globe is expected to support global writing and marking instruments market growth during the forecast period.
“The growing emphasis on sustainability, rising popularity of writing instruments as fashion stationery, and the growing popularity of multiutility writing instruments, are other factors that are expected to boost the writing and marking instruments market growth during the forecast period,” says a senior analyst at Technavio.
Register for a free trial today and gain instant access to 17,000+ market research reports
Writing And Marking Instruments Market: Segmentation Analysis
This market research report segments the writing and marking instruments market by product (pens, markers and highlighters, pencils, coloring and writing instruments, and writing accessories), distribution channel (offline stores and online stores), and geography (APAC, Europe, North America, MEA, and South America).
The APAC region led the writing and marking instruments market in 2019, followed by Europe, North America, MEA, and South America respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as growing support from governments and the increased funding from organizations to improve the quality of the education system.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report
Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.