LONDON--(BUSINESS WIRE)--The office stationery market in Europe is set to grow by USD 2.79 billion, accelerating at a CAGR of about 14%, during the period spanning over 2020-2024. One of the key factors driving growth is product innovations and technology advancements. Market vendors are focusing on improving product features to meet the increasing demands of the customers. Rising number of start-ups in Europe is a significant trend that will further stimulate market growth. Favorable governmental policies such as legal protection, increasing ease of doing business, innovative work environments, and business benefits such as tax holidays are fueling the growth of start-ups in Europe.
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Parent Market Analysis
Technavio categorizes the office stationery market in Europe as a part of the global office services and supplies market within the global commercial services and supplies market. The global office services and supplies market covers providers of office services and manufacturers of office supplies and equipment. Technavio calculates the global commercial services and supplies market size based on combined revenue generated by companies offering products and services in commercial printing; environmental and facilities services; office services and supplies; security and alarm services; and diversified support services. Growth in the global office services and supplies market will be driven by the growing emphasis on omnichannel retailing.
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Office Stationery Market in Europe: Geographic Segmentation
The report segments the market by geography: Germany, France, the UK, Italy, and Rest of Europe. About 28% of the market’s growth will originate from Germany during the forecast period. The proliferation of new businesses is fueling the growth of the market in Germany. However, market growth in Germany will be slower than the growth of the market in France, the UK, and Italy.
Office Stationery Market in Europe: Segmentation by Product
The paper products segment was leading the market in 2019. The easy availability of raw materials and faster production turnaround times have increased the production of paper products in huge volumes. This has increased the availability of paper products such as colored paper, fax paper, notes, spiral notes, writing pads, phone message pads, phone message pads, laser printer paper, and others, which is fueling the segment growth. This report provides an accurate prediction of the contribution of all the segments to the growth of the office stationery market size.
Office Stationery Market in Europe: Growth Drivers
The market is driven by product innovations and technological advancements. The proliferation of businesses and the rise in employment rates worldwide are factors contributing to the increasing demand for office stationery products. This is encouraging market vendors to focus on improving product features in terms of packaging, form, shape, and size to expand their customer base. Some international and domestic players are also introducing high-priced variants made of new materials to create product differentiation. All these factors are fueling the growth of the market.
Office Stationery Market in Europe: Challenges to Overcome
Most of the office stationery products are made up of non-biodegradable materials such as plastic and fiber. This is increasing toxic levels in the air, soil, and water, which is compelling regulatory bodies across the world to enforce stricter regulations on the manufacture and sale of such products. To overcome such challenges, vendors are now introducing eco-friendly stationery products.
Office Stationery Market in Europe: Vendor Landscape
This report provides information on revenue, organizational developments, and key go-to-market strategies of several leading office stationery companies, including:
- 3M Co.
- ACCO Brands Corp.
- BIC Group
- Biella Schweiz AG
- Lyreco SAS
- PBS Connect Polska Sp. z o.o.
- PILOT Corp.
- The Hamelin Group
- WH Smith Plc
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Technavio reports cover the following key research areas:
- Detailed Analysis of Market Eco System
- Market favorability index
- Market opportunity by segments
- Analysis of drivers of price sensitivity
- Key purchase criteria
- Customer purchase basket
- Impact of drivers and Challenges
- Factors of differentiation
- Landscape disruption
- Key industry risks
- Market position of vendors
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