Stationery Products Market By Product Typ; By Application; By Sales Channel; By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Market Analysis, Trends, Opportunity and Forecast, 2022-2032
Stationery Products Market Overview
The global stationery products market size was valued at around USD 27.2 billion in 2022 and is projected to grow at a compound annual rate of growth (CAGR) of around 4% from 2022 to 2032.The market size is projected to succeed in USD 40.4 billion by 2032. With a raising number of youths inclining towards education along with increasing literacy are among the prominent factors for the stationery products market growth. Moreover, evolution has been the key to success in the global stationery products market for a long time. Changing consumer preferences has made the companies to make changes to their existing products or launch new products. In the last couple of years, due to television and social media intervention, companies have started investing in marketing and product innovation, which has further boosted the stationery products market.
Increase in literacy rate in developing and developed regions has further augmented the growth of the market. Moreover, due to high competition in the market, almost all companies are using personalized stationery for office use along with gifting purpose as a marketing strategy. Advancement in printing technologies, development in software, and an increase in customer demand are providing lucrative opportunities for the global stationery market.
The easy accessibility offered by online sales channel has further boost the stationery products market, thus becoming a popular medium for the purchase of necktie. Easy obtainability of information about the material used in necktie, time-saving feature, and home delivery facility contributes towards the growth of the online sales channel. Moreover, the rise in penetration of diversified online portals in emerging regions and the increase in discounts or offers influence the customers to purchase stationery products through e-commerce channels. Moreover, e-commerce channels have raised the customer reach due to which is has become as a key source of revenue for many companies. The e-commerce market is anticipated to increase in the near future due to rapid increase in online and mobile use customer base in developing and developed markets. Raise in online sales, improvement in logistics services, ease in payment options, and the capacity to enter new international markets for major brands are expected to further increase the demand for the stationery products market.
Stationery Products Market Geographical Coverage
Asia-Pacific market holds the major share in the year 2019 and it expected to retain its dominant during the forecast period. Increase in population and improved lifestyle are the major factors that boost the stationery products market's growth. Raising purchasing power in this region is the prime factor which contributes towards the growth of the stationery products market. Increase in usage of diversified types of stationery products and raising number of educational institutes in urban and rural areas are driving the regional market in forecast period. This in turn further boosts the growth of the stationery products market.
Stationery Products Market Insights
By product type analysis, the stationery products market is segmented into paper-based, ink-based, and art-based. The paper-based segment holds the major market share and it is expected to retain its dominance during the forecast period. Even after digitization hits the market, paper is one of the most used stationery products that are finding its uses in printing. Moreover, with the introduction of various coaching centers has led to an increase in paper usage in the near future. Furthermore, papers are used for printing question papers and various assignment sheets in the education sector. Diversified usages of paper in government offices and architectures has boosted the growth of the segment.
On the basis of application, the stationery products market is divided into educational institutes and corporates. The educational institutes hold the major share as this group consists of students, businessman, employees, and others. The presence of a large number of colleges and schools and a raising population have led to the segment growth. The growing trend of studying abroad is also impacting the region's market growth, eventually fueling the overall market growth.
The stationery products market is segmented into hypermarkets/supermarket, specialty stores, brand stores, convenience, and online sales channel by distribution channel. Specialty stores are small retail outlets that focus on selling a particular range and associated items. Specialty stores maintains considerable depth in the type of product that they specialize in selling premium prices products. Moreover, manufacturers are continuously making efforts to increase shelf visibility of their products and hence they are majorly targeting specialty stores. As a result, great variety of stationery products are available in specialty stores. Moreover, specialty stores provide great discount, which results in attracting more and more customers, resulting in boosting the stationery products market.
Key Companies Profiled
The global stationery products market is characterized by the presence of various small and big players. The major market player includes Linc Pens & Plastics Ltd., Fullmark, 3M, Muji, Staedtler, Maped, Artline, Faber-Castlle, Reynolds Pens, and Mead. The market presents moderate to low entry barriers due to the presence of a large number of unorganized players in the market.