The Art Supplies Market is expected to grow 1.6X in terms of value, with a CAGR of 4.5% between 2020 and 2030. As the COVID-19 epidemic takes its toll on the worldwide movement of products, from wholesale distribution to retail outlets and the manufacturing industry, some economies have shut down, resulting in a lack of creative materials. As a result, the import and export of art materials has been hampered in various nations throughout the world, resulting in decreased sales of art-related items.
However, industry leaders are focused on keeping good ties with dealers and suppliers to guarantee that their consumers have continuous access to the items on which they rely. This, in turn, is expected to enhance the growth of the
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Because of the growing popularity of online shopping, art supply manufacturers are collaborating with online service providers, brand consultants, and marketing agencies to provide their products through online channels of distribution. Collaborations with e-Commerce players are likely to boost demand for art materials. Furthermore, customers’ proclivity to spend on luxury art materials encourages producers to create high-quality items, as price has now become a secondary consideration when acquiring art supplies.
Conversely, the educational effort in developing nations to build a competent and capable workforce is boosting the need for pencils, pens, markers, and other art equipment. Furthermore, the art is likely to flourish as academic institutions place a greater emphasis on extra-circular activities.
The Effect of COVID-19 on the Art Supplies Market
The COVID-19 epidemic is still spreading over the world, and almost no industry has been spared its consequences since the onset. It has had a wide-ranging influence on the market, as well as a significant impact on the art supplies industry supply chain, resulting in a significant slowdown in the growth of these items. North America is a major market for art materials and will experience the greatest drop in demand due to the outbreak’s impact.
Key Players:
- Symrise AG
- Bontoux S.A.S.
- Lionel Hitchen (Essential Oils) Ltd
- Young Living Essential Oils LC
- Citrus Oleo Citrus and Allied Essences Ltd.
- doTERRA International
- LLC
- Mountain Rose Herbs Inc.
- Citromax S.A.C.I.
- Citrosuco Paulista SA
- Ultra International B.V.
- Plant Therapy Essential Oils
- Aksuvital
- Biolandes and Aromaaz International
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Regional Analysis:
North America will account for more than 35% of the global art supplies market in terms of value in 2020, with East Asia accounting for 1/4 of the share. However, North America, which has the highest number of COVID-19 cases and is a significant location for art supplies, as well as a high number of art supplies firms, has had a negative impact on sales in 2020.Furthermore, the rising popularity of innovative art supplies in developed nations, particularly among millennials and generation Z, is expected to provide a multitude of chances for art supplies market participants.North America is expected to maintain its dominance in the global art supplies market throughout the projected period.
Key Segments of Industry:
- By Product Type :
- Pencils and Accessories
- Graphite Pencils
- Erasers
- Sharpeners
- Mechanical Pencils
- Pencil Leads
- Writing Pens
- Fineliners
- Ballpoint Pens
- Rollerballs
- Refills
- Coloring Products
- Colored Pencils
- Fiber-tip Pens
- Fineliners
- Crayons, Chalks, and Oil Pastels
- Paints
- Markers
- Highlighters
- Universal Pens
- Whiteboad Markers
- Flipchart Markers
- Dry Markers
- Others
- Other Art Supplies
- Pencils and Accessories
- By End User :
- Institutional
- Academic Institutions
- Schools
- Colleges
- Other Academic Institutions
- Industries
- Offices
- Other Commercial Institutions
- Household
- Institutional
- By Sales Chanel :
- Stationary Stores
- Departmental Stores
- Supermarkets
- Online Sales
- Other Sales Channels
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