NEWARK, Del, April 16, 2024 (GLOBE NEWSWIRE) -- The stationery product market is estimated to be worth US$ 160.9 billion in 2024. The rapidly evolving education sector especially helps the demand for stationery products to improve by leaps and bounds.
Through 2034, stationery product demand is set to progress at a CAGR of 5.3%. The addition of luxury items, such as premium pens, to stationery portfolios, is highlighted as a significant driver for demand. Personalized products are another avenue through which the market is progressing, as consumers look to make a statement with their stationery products.
By 2034, it is forecasted that the market value will have reached US$ 271.0 billion. Technology is not just seen as a threat by industry players. The infusion of technology with standard stationery products, creating popular items like electric erasers and digital writing pads, is endorsed to add considerable value to the market.
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Technology does hamper the market, however. The use of electronic products for tasks such as jotting down notes and marking calendars, traditionally done with the help of stationery, is cutting into the growth of the market. The education sector’s fascination with digital learning is also negatively impacting the market.
“Office use of stationery items is augmenting the residential use and creating more leeway for growth of the market. Despite the threat of digitization, the stationery product market proffers several opportunities to investors,” says Sneha Verghese, Senior Consultant for Consumer Goods and Products at Future Market Insights
Key Takeaways from the Stationery Product Market
- The stationery product market is anticipated to be US$ 160.9 billion in value in 2024.
- Paper products are the predominant type of product in the market. For the forecast period, paper products are penned in to progress at 5.1% CAGR.
- Stationery products are primarily sold offline. For the 2024 to 2034 period, offline sales of stationery products are slotted in to register a CAGR of 4.9%.
- South Korea is a promising country for the market. The CAGR for South Korea over the forecast period is projected to be 7.1%.
- Japan is a country poised to be lucrative for the market. For the 2024 to 2034 period, the CAGR for Japan is pegged at 6.9%.
- The market is expected to register a CAGR of 6.6% in the United Kingdom over the forecast period.
Competition Analysis of the Stationery Product Market
The stationery product market is competitive, with startup culture prominent. Startups are employing differentiation strategies to stand out from the crowd, while established players are looking to cultivate consumers through traditional means. Some of the prominent companies in the market include Faber Castell, Kokuyo Camlin, 3M, and Rifle Paper Co.
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Recent Developments in the Stationery Product Market
- In December 2023, DOMS Industries went public to raise funding.
- In September 2023, Shakeel Group attracted discount strategies just in time for schools restarting.
- In December 2022, Kokuyo Camlin products’ packaging received a fresh look to appeal more to consumers.
Key Players:
- Faber Castell
- Kokuyo Camlin
- 3M
- Rifle Paper Co.
- Reynolds
Country-wise Analysis
| Countries | CAGR (2024 to 2034) | |
| China | 5.9 % | |
| Japan | 6.9 % | |
| United States | 5.6 % | |
| United Kingdom | 6.6 % | |
| South Korea | 7.1 % | |
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Key Segmentations:
By Type:
- Paper Products
- Writing Instruments
- Art & Craft
By Application:
- Residential
- Commercial
By Distribution Channel:
- Offline
- Online
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
Author
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
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