Portland, OR, Sept. 08, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the Asia-Pacific Back-to-School market was estimated at $26.3 billion in 2020 and is expected to hit at $58.2 billion by 2030, registering a CAGR of 6.0% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Innovations in back-to-school products, rise in government expenditure, emphasis on primary education, removal of one-child policy by China, and reduction of infant mortality rate in the region drive the growth of the Asia-Pacific Back-to-School market. On the other hand, choking hazards associated with small components, toxicity of certain stationery products, and the outbreak of COVID-19 restrain the growth to some extent. However, surge in popularity of online shopping
and rise in the trend of social media & digital marketing are anticipated to pave the way for multiple opportunities in the industry.
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COVID-19 Scenario-
- After COVID-19 was declared a pandemic, the majority of the countries announced complete lockdown, which resulted in the closure of schools. Classes were shifted online, which caused a reduction in the sale of the essential Back-to-School products such as clothes, shoes, lunch boxes, water bottles, and art & craft supplies.
- However, the global situation is getting ameliorated at a gradual note, and schools have also started to reopen in the countries where the COVID counts are relatively less. With this drift on board, the market is projected to revive soon.
The Asia-Pacific Back-to-School market is analyzed across product type, distribution channel, and country. Based on product type, the stationery segment accounted for nearly half of the total market share in 2020, and is expected to lead the trail by the end of 2030. The same segment would also register the fastest CAGR of 7.6% during the forecast period.
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Based on distribution channel, the specialty stores segment contributed to more than two-fifths of the total market revenue in 2020, and is anticipated to rule the roost by 2030. The e-commerce segment, on the other hand, would cite the fastest CAGR of 8.6% during the forecast period.
Based on country, the market across China held the major share in 2020, garnering nearly half of the Asia-Pacific Back-to-School market. Simultaneously, the market across India would showcase the fastest CAGR of 6.8% from 2021 to 2030.
The leading market players analyzed in the Asia-Pacific Back-to-School market report include Adidas AG, Harlequin International Group Pty Ltd., Kokuyo Camlin Ltd., ITC Limited, Mitsubishi Pencil Co., Ltd., Zebra Pen Corp., Pelikan International Corporation Berhad, Acco Brands, Puma Se, and Wh Smith Plc. These market players have incorporated different strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
