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.
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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.
Factors Fuelling Global Market Growth
Growth of the global stationery market is mainly bound by various macro-economic and micro-economic factors. With the growing need for smart accessories among the industrial professionals, sales of stationery products will continue to increase in the global market. Manufacturers are significantly investing in designing smart stationery for companies according to the particular specifications and demands of the company.
Growing advancements in technology has negatively impacted demand for the traditional stationery products. With the launch of various gadgets equipped with smart pens that enables the end users to make notes, demand for the traditional stationery products is projected to hit rock bottom. Demand for the smart gadgets is projected to increase as the end users can conveniently synchronize their information and save it in their smart devices. Moreover, the smart devices further allow the end users to retrieve related information when required by the end user. Customization and personalization of the stationery products will continue to remain in trend in developing regions such as North America. Personalization and customization is further projected to witness significant demand for innovation in range of stationery products. However, the stationery market in Europe is projected to witness positive growth attributed to increasing corporate expansion and setting up of new companies. Moreover, companies based in Europe are increasingly investing on customizing and personalizing of their business stationery products such as memos and business cards. Bound to these factors, the global market of stationery is projected to witness slight increase in growth.
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Key Segments Covered
- Product Type
- Pens
- Mechanical Pencils
- Lead Pencils
- Marking
- Coloring
- Corrections
- Art Goods
- Carbon Paper and Inked Ribbon
- Paper Products
- Sales Channel
- Stationery Sales through Exporters
- Stationery Sales through Wholesalers
- Stationery Sales through Other Sales Channels
- Price Range
- Economy Range Priced Stationery
- Mid-Range Priced Stationery
- Premium Range Priced Stationery
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