Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
Despite of the growing digital revolution, writing instruments still have a great demand from people working in various industrial sectors. Keeping premium writing instruments is still considered as a status symbol in most of the countries across the globe.
The global writing instruments market is envisioned to reach USD 22.0 Billion by 2019, exhibiting a compound annual growth rate (CAGR) of 5.3%. Geographically, the global writing instruments market is segmented into North America, Latin America, Western and Eastern Europe, Asia-Pacific and Rest of World.
With approximately 35.0% market share in 2015, Asia-Pacific dominates the global writing instruments market. The region is further anticipated to foster at a healthy rate during 2015-2021. Rising literacy rates and trending corporate gifting in countries like India and China is a key driver of Asia-Pacific writing instruments market.
North America and Europe are also expected to witness a steady growth in global writing instruments market over next few years. The market in these regions is likely to get bolstered from increasing adoption of personalized pen gifting culture among majority of population. CLICK TO DOWNLOAD SAMPLE REPORT
The global writing instrument market is segmented by types into pens, colour, pencils, writing accessories, highlighters and markers.
Based on distribution channel, the global writing instrument market is divided as department stores, office supplies and stationers, supermarkets and others.
Global writing instrument market is segmented on the basis of cost range as premium and low cost writing instruments.
The study further analysis the Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).
Rising demand of luxury writing pens is a major factor which is expected to escalate the demand of global writing instruments market over the forecast period.
In addition to that, increasing trend of corporate gifting in offices is also believed to bolster the global writing instruments market.
However, increasing penetration of computer electronics is projected to hamper the growth of global writing instruments market in coming 5-6 years.
The key competitors of global writing instruments market include Crayola, Mitsubishi Pencil, Faber-Castell, Pilot Corporation, Faber-Castell, Crayola, Montblanc International GmbH, Camlin, Societe BIC, Hindustan Pencils, STABILO International, Newell Rubbermaid, Pelikan, Shanghai M&G Stationary etc.
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