Deep Analysis of Impact of COVID-19 on “Writing Instruments Market 2019-2025” Growth Worldwide….



The global writing instruments market size is expected to reach USD 22.9 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 7.4% over the forecast period. Growing awareness regarding the importance of education is expected to remain a key driving factor. Furthermore, increasing application of writing instruments used in promotional apparels and calendars is anticipated to drive the demand for these products in the upcoming years.
The clothing, footwear, & accessories industry is anticipated to witness checkered growth throughout 2020, as a result of the unprecedented supply chain disruptions caused by the COVID-19 outbreak worldwide. The expected decline in the global sales of clothing, footwear, & accessories is attributable to massive supply chain disruptions across significant export markets, including China and India. However, the industry is likely to recover over the forecast timeframe, given the rising popularity of online/e-commerce sales. From a manufacturing standpoint, the sustainable or ethical fashion trend is expected to favor market growth throughout the forecast timeframe. Luxury apparel is another lucrative space for prospective manufacturers to target, given the mushrooming number of affluent and fashion-conscious consumers across the globe. Our team is diligently working towards accounting these factors in our report with the aim of providing you with the up-to-date, actionable market information and projections.
Key industry players include Faber-Castle; Mitsubishi Pencil Co., Ltd.; Linc Pen and Plastics Private Limited; Luxor Writing Instruments Private Limited; Pilot (Pen Company); Flair Group of Companies; Newell Brands, Inc.; Hindustan Pencils Private Limited; Shanghai M&G Stationery Inc.; and Pentel Co. Ltd.
North America is expected to remain the fastest growing region, expanding at a CAGR of 8.3% from 2019 to 2025. This region is expected to witness growth on account of high spending power and constant innovative launches of new products, especially in U.S. Furthermore, high significance of education and increasing number of students and working professionals are generating more demand for these products in North America.
Asia Pacific dominated the industry in 2018 and is expected to witness significant growth in the coming years. This growth is attributed to growing awareness regarding educational importance and rapidly increasing population in the countries including China and India. This, in turn, is attracting more investors to invest in R&D so as to meet the needs and requirements of people for different skin types and needs.
Pen accounted for the largest share of 35.6% in 2018 owing to significant shift in the consumer preference from chemical to biodegradable and eco-friendly pens. Rise in the number of educational institutions and corporate offices globally has increased the demand for these products in different regions. Growing application of coloring instruments by artists and painters is anticipated to fuel the product demand over the forecast period.
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Students accounted for the largest share in the industry in terms of application and generated a revenue of USD 7.8 billion in 2018. The working professionals segment is anticipated to expand at the fastest CAGR of 8.0% from 2019 to 2025. Growing incorporation of writing instruments in offices and ultimately in lives of working professionals is driving the segment.
Further key findings from the study suggest:
·         By product, the pen segment accounted for 35.6% share of the overall revenue in 2018
·         Pencil products accounted for a share of 24.4% for the year 2018
·         Europe is expected to register a CAGR of 7.9% from 2019 to 2025.
The global writing instruments market size was valued at USD 13.9 billion in 2018. Increase in the number of promotional products such as apparels and calendars offered by educational institutions and offices is expected to remain a key factor in driving the market. Moreover, nowadays, availability of natural and recyclable materials used in manufacturing process of pens has increased the scope and demand of pens across the globe.
Over the past few years, introduction of new and innovative multipurpose writing instruments has been playing a key role in expanding the scope of these products. The manufacturers are coming up with new product offerings such as pens with stylus, different colored inks, and pencils in various sizes. Furthermore, companies are using innovative strategies to penetrate the application scope among students.
The market is expected to witness significant gains owing to introduction of fancy coloring instruments that are gaining traction among children and school going students. These fancy coloring instruments are also gaining popularity among artists owing to availability of these products in wide variety and different shades of color.
Growing use of highlighters and markers among students and working professionals is anticipated to expand the market scope. Many manufacturers are now shifting towards producing recyclable PET pens that are made using PET bottles as a raw material. In addition, use of eco-friendly colors in coloring instruments such as crayons and sketch pens is expected to propel the market growth over the upcoming years.
The manufacturers are constantly trying to appeal the customers with customized pen body styles, clips, and superior use of ink. Easy accessibility of eco-friendly products at cheaper prices is expected to exhibit a positive shift in the inclination of consumer preference for these products. Companies specializing in luxury pen are attracting people from high income groups owing to their designer finish look and quality.
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Grand View Research has segmented the global writing instruments market on the basis of product, application, distribution channel:
Writing Instruments Product Outlook (Revenue, USD Billion, 2015 - 2025)
·         Pen
·         Pencil
·         Coloring Instruments
·         Others
Writing Instruments Application Outlook (Revenue, USD Billion, 2015 - 2025)
·         Students
·         Working Professionals
·         Institutions
Writing Instruments Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2025)
·         Stationaries
·         Hypermarket/Supermarket
·         Departmental Stores
·         Online
Pen dominated the market with a share of 35.6% in 2018. This is attributed to growing production of biodegradable pen products, coupled with growing inclination of consumers towards these products. Coloring instruments are predicted to generate a revenue of USD 3.4 billion by the end of 2025. These products are witnessing an upsurge in popularity and demand owing to growing awareness among the consumers regarding the importance of highlighters, markers, and other coloring instruments. In others, there are sharpeners, erasers, rulers, or measuring stick. This segment is expected to witness a slight decline due to their limited usage and less scope as compared to other products. 
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.



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