The global writing instruments market is estimated to reach US$20.29 billion in 2023, growing at a CAGR of 5.19% for the period spanning from 2019 to 2023. The factors such as increasing literacy rate, increasing investment in education, rising number of universities, increasing number of student enrollments and higher disposable income are expected to drive the market. However, growth of the industry will be challenged by increasing demand for online education services, increasing penetration of computers and rising preference of touch screen writing. A few notable trends include increasing number of promotional products, evolving environmental friendly products, rising education awareness, government policies to support education and growing demand for personalized writing instruments.
The global writing instruments market has been segmented into pen, pencil, coloring instruments, marker & highlighters and others. Pen accounted for the largest share in 2018 owing to rising trend of customized pens and continuous launch of new designer pens.
The fastest growing regional market is North America due to growing education awareness, launch of new and innovative writing instruments and growing demand for luxury writing instruments. Increasing number of student enrollment and introduction of multipurpose products have propelled the demand for writing instruments in school and colleges. Europe represents one of the largest markets for writing instruments and is already a well-penetrated market.
Scope of the report:
• The report provides a comprehensive analysis of the global writing instruments market, segmented into pen, pencil, coloring instruments, marker & highlighters and others.
• The major regional markets (Asia-Pacific, Europe, North America and Middle East/Africa) have been analyzed, along with country coverage of the U.S.
• The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
• The competitive landscape of the market, along with the company profiles of leading players (BIC, Norwell Brands, Pilot Corporation, Richemont, Pelikan and Camlin) are also presented in detail.
Key Target Audience:
• Writing Instruments Manufacturers
• Raw Material Suppliers
• End Users Industries
• Consulting Firms
• Government Bodies & Regulating Authorities