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
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.
Why the U.S. an Opportunistic Stationery Landscape?
Nearly one-third of global sales for stationery is anticipated to come from the U.S. market. The key drivers of demand are anticipated to be tendencies toward greater customisation and aesthetic appeal.
Even though the pandemic had the greatest impact on physical retailing of office supplies and stationery, the online sector is anticipated to recover once the nation’s prohibitions on e-commerce deliveries are relaxed. The US market is anticipated to increase rapidly over the long term.
More Insights Available:
The study divulges essential insights on the market based on product type (pens, mechanical pencils, lead pencils, marking, coloring, corrections, art goods, carbon paper & inked ribbon and paper products), sales channel (exporters, wholesalers and others) and price range (economy range, mid-range and premium range) across seven major regions (North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa).