NEW YORK, April 21, 2022 (GLOBE NEWSWIRE) -- The Vietnam writing instruments market is expected to reach US$ 202.7 Mn by the end of 2032, expanding at a CAGR of 6.7% from 2022 to 2032, owing to increased use of energy-efficient technologies by writing instrument manufacturers and rising demand for sustainable and biodegradable plastic pens, among other factors. Furthermore, as consumers have become more aware of environmentally-friendly products, companies have the choice of using sustainable packaging.
Producers all over the world are putting a premium on product differentiation by creating unique and stylish writing instruments. For example, they are selling ballpoint pens with styluses, pens with different inks, and writing instruments with designer/customized clips, brilliant colours, and other features.
During the Mekong Connect 2020 meeting on December 21, 2020, BIZNER unveiled several high-end pen devices, including the BIZ-WB02 and BIZ-01. The BIZ-Gel23 and BIZ-Gel24 are two new gel pen variants that are aimed toward successful and high-income businessmen.
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Key Takeaways from Market Study
- The Vietnam market for writing instruments is mostly dominated by pens and pencils within the product type category.
- Under sales channel, hypermarkets and supermarkets have dominated the offline sales channel, owing to the fact that consumers like to try products before buying them.
- Low commodity prices of writing instruments is one of the primary obstacles to the expansion of the Vietnam writing instrument market.
“As a result of increased competition, manufacturers have come up with more kinds and inventive writing instruments than ever before. Producers must develop new products that appeal to consumers who are more interested in technology, such as mess-free pens, computers that convert handwritten notes into computer texts, etc.,” says an analyst at Persistence Market Research.
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Key Market Players
The study includes ground-breaking insights into the competitive landscape of the writing instruments industry in Vietnam, as well as the highlights of manufacturers' differentiated strategies.
Some of the key players identified in the market include Kokuyo Camlin Limited, Société BIC SA, San Yann Industry Co. Ltd., Mitsubishi Pencil Co., Ltd., Faber-Castell, Newell Brands Inc., Schneider Schreibgeräte GmbH, STAEDTLER Mars GmbH & Co. KG, Linc Pen & Plastics Ltd., KOTOBUKI Co. Ltd., and Shanghai M&G Stationery Inc.
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Know More about Report Inclusions
Persistence Market Research published a new market report on the Vietnam writing instruments market, covering global industry analysis of 2017-2021 and forecasts for 2022 to 2032. This research report provides compelling insights on the basis of product type, end use, and sales channel.
The report also includes forecast factors and vital macroeconomic factors that are anticipated to boost the growth of the global market. It also addresses the restraints that are projected to hinder market growth, along with the latest trends and potential opportunities in the market.
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