According to a latest report published by Fact.MR, the stationery market is forecast to register a sluggish outlook in the short-run, registering a CAGR of 2.2% to reach US$ 24 Bn. However, long-term forecast appears quite steady, with an expected valuation of US$ 30 Bn and a CAGR of 4% until 2031.
Historically, between 2016 and 2020, sales of stationery products reflected a CAGR of 2%, closing in at around US$ 20 Bn. Increased emphasis on digitization has expanded usage of gadgets such as smartphones, laptops and personal computers, which has significantly reduced demand for stationery products.
At the same time, heightened spending on primary, secondary and tertiary education programs across emerging economies has augmented demand for various stationery products, including pens, papers, pencils, etc. According to India Spend, in 2019-20, India spent US$ 88 billion of public funds on education. Likewise, nearly US$ 55 million were spent on public education in China.
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Key Takeaways from Market Study:
- The global stationery market is anticipated to add 1.5x value by 2031 as compared to 2021.
- Demand for paper products to surge impressively, accounting for around 30% of the revenue share
- Sales of pens reached US$ 12 Bn in 2020, forecast to expand at a CAGR of 5% through 2031
- U.S to be an attractive market for stationery products, accounting for around 1/3rd of the revenue
- Chinese stationery sales reached US$ 19 Bn as of 2020, forecast to expand further until 2031
“Presenting sustainable and eco-friendly variants of oil paints, crayons, sketch pens, watercolours, and paintbrushes have aided global manufacturers to gain an edge in the fast-moving market throughout the forecast period.” comments the Fact.MR analyst.
Key Segments Covered
- Mechanical Pencils
- Lead Pencils
- Art Goods
- Carbon Paper and Inked Ribbon
- Paper Products
- Stationery Sales through Exporters
- Stationery Sales through Wholesalers
- Stationery Sales through Other Sales Channels
- Economy Range Priced Stationery
- Mid-Range Priced Stationery
- Premium Range Priced Stationery
Prominent players are embracing innovative approaches such as ground-breaking marketing tactics, technological advances for cancer screening, mergers, and acquisitions.
Prominent players are embracing innovative approaches such as ground-breaking marketing tactics, technological advancements, mergers, and acquisitions.
- In August 2016, stationery major Camlin signed an agreement with Kokuyo S&T Co of Japan under which the latter had acquired 50.3 % of the Indian company for an estimated value of US$ 3.6 Bn
- In January 2018, the Navneet Education Ltd signed an agreement to acquire Britannica’s Indian curriculum business for Rs 88 crore. This move will help expand Navneet’s range of curricular offerings in the Indian school market.