Region - North America, Europe, Latin America, APAC, MEA;
New York, NY -- (SBWIRE) -- 05/09/2018 -- In an era filled with touchscreen computers, tablets, and smartphones, it would seem as if writing instruments hark of a time we have long left behind. However, this could not be further from the truth as the writing instruments market can never truly be completely replaced by modern technology because there will always be situations where a pen and paper are needed or preferred over their digital counterparts.
Persistence Market Research felt the need to research the writing instruments market in an upcoming publication 'Writing Instruments Market: Global Industry Analysis 2012 – 2016 and Forecast 2017 – 2025'. The writing instruments market is estimated to witness a CAGR of 3.3% from 2017-2025 and be worth approximately US$ 24 Bn by 2025 end.
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The APAC region is estimated to account for more than 45% market share in the global writing instruments market in 2017 and this share is expected to grow by a massive 236 BPS, causing the APAC market to grab 50% market share by the end of 2025. This highly populous continent is spearheaded by the rapid economic growth in China, India, and Indonesia and customers in these countries will continue to demand the maximum writing instruments. A volume of more than 30 Bn units and a value of over US$ 12 Bn in 2025 makes APAC the behemoth in the global writing instruments market.
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By the end of 2025, the pen segment is estimated to hold a market share touching 79% of the writing instruments market by product type. A volume exceeding 36 Bn units by the end of the forecast period ensures that all key stakeholders in the writing instruments market can tap this highly lucrative market opportunity.
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Stationers comprise a revenue share of more than 40% of the global writing instruments market by distribution channel and are predicted to remain the key distribution channel throughout the duration of the forecast period. The stationers segment should witness the highest CAGR of 3.9% by value and could well cross a market value of US$ 11 Bn by end 2025.
Persistence Market Research has profiled some of the most prominent companies active in the global writing instruments market such as Société BIC SA, Faber-Castell, Mitsubishi Pencil Co., Ltd., Pilot Corporation, Schwanhäußer Industrieholding GmbH & Co. KG, Newell Brands, Inc., Shanghai M&G Stationery Inc., Schneider Schreibgeräte GmbH, Kokuyo Camlin Limited, C Josef Lamy GmbH Srl, STAEDTLER Mars GmbH & Co. KG, Luxor Writing Instruments Private Limited, Linc Pen & Plastics Ltd., Hindustan Pencils Private Limited, Moleskine SpA, Flair Group of Compaies, Pentel Co. Ltd., Pelikan AG, Zebra Co. Ltd., and The Cumberland Pencil Co.
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There is a strong demand for writing instruments distributed in promotional activities, particularly in North America and Europe, to both employees and customers for its cost-effectiveness and immediate impact. In addition to this, manufacturers are trying to reduce their carbon footprint by turning to biodegradable material, recyclable plastics, and sustainable packaging to appeal to environmentally conscious customers in the writing instruments market.