Writing Instrument Market Research, 2032
The global writing instrument market was valued at $11.7 billion in 2022, and is projected to reach $18.1 billion by 2032, growing at a CAGR of 4.6% from 2023 to 2032.
A writing instrument is an object which is used to produce writing on the surface. There are items in this category that are used for different purposes such as painting, sketching, drawing, and mechanical designing. The global writing instrument market experiences significant growth in terms of value due to a surge in growth of literacy rate among the underdeveloped regions, the growth in popularity of calligraphy and hand-lettering, the rise in demand for stationery products from the corporate sector, the introduction of innovative multifunctional writing instruments, and increase in demand for customizable products.
MARKET DYNAMICS
Moreover, on account of the surge in literacy rates in under-developing and developing nations, the global writing instruments market is anticipated to experience considerable expansion during the forecast period. Primary education acts as the bedrock of development for growth in children. In the primary level of education, the children are taught about the foundation skills which prepare them for excelling in work and making a standard position in society. The primary causes that are anticipated to increase the demand for writing instruments include a rise in the number of school-going students, increasing government initiatives by implementing assistance programs such as Kha Ri Gude, The Africa Literacy Project (ALP), New India Literacy Programme, Sarva Shiksha Abhiyan Scheme, Mid- Day Meal Scheme for poor children in Africa, India, China, Brazil, and other underdeveloped regions. According to the United Nations Educational, Scientific, and Cultural Organization (UNESCO), the number of illiterate adults and teenagers in 2019 has reduced by more than 10 million to 773 million. Youth literacy rates tend to be greater than adult literacy rates, indicating increase in access to education of younger generations and will help in expansion of the writing instrument market size in the anticipated period.
The rapid increase in the popularity of handwriting, calligraphy, and hand lettering with the rise in demand for personalization drives the growth of the writing instrument market. There are currently 69 colleges and universities in China itself that offers calligraphy as a major subject, and a few more educational institutions that offer calligraphy as a public course. The number of institutions offering calligraphy and handwriting courses increases gradually with the increase in interest of people in personalized and designer writing. There are many organizations and associations such as the International Association of Master Penmen, Engrossers, and Teachers of Handwriting (IAMPETH), The Society of Scribes and Illuminators promote the widespread interest in hand lettering and calligraphy around the world. Calligraphy and hand lettering are conducted using various instruments such as calligraphy brush, pen brush, fountain pen, ink pen style nib, calligraphy inks, stationary, calligraphy papers, or other surfaces to write on. As a result of the increase in population demanding calligraphic instruments, the demand for writing instruments is getting boosted. Manufacturers have started producing kits where all the instruments come packed in a single tool kit, which makes it easier for the artists to avail themselves all in one set at an affordable price, which has further boosted the growth of writing instrument market.
Furthermore, the demand for writing instruments in the corporate sector is expected to boost market growth in the anticipated period. Moreover, the globe has witnessed a significant rise in the number of corporate entities across developed and developing nations in the past decade. For instance, at present 80,000 companies are driving the 21st century, and with their increase in numbers, the challenges such as employee retention, customer retention, and an increase in culture of corporate gifting are also emerging. The major multinational corporation has been investing heavily in corporate gifting in different regions to increase its brand awareness, create B2B relationships, preserve customer loyalty, and generate more leads, all of which benefit the growth of the company, which has boosted the overall growth of the writing instrument industry. According to 2021 sales volume study of Promotional Products Association International, the writing instruments category was ranked as the third most popular promo product with a growth rate of 25% or more in sales due to the large adoption of corporate gifting culture by businesses and organizations. Thus, it will help gain traction in the writing instrument market demand in corporates and other multinatinal companies in the coming years.
The proliferation of innovative multifunctional writing and drawing tools has driven the growth of writing instruments. There are many writing instrument companies such as Cross, Parker, Lamy, Pilot, Zebra, Uni-ball, and Monteverde, producing a wide range of multifunctional writing instruments that combines a ballpoint pen with a stylus, pen, pencil, or mechanical pencils. Millennials and Gen Z are the major users of multifunctional writing instruments owing to the ease and conveniences associated with the combination of two or more instruments together. Therefore, there is a rapid rise in number of innovative products such as multifunctional pens, the combination of assorted colors in a specific product, and the combination of two writing instruments in a specific product is expected to boost the user base of writing instruments in the near future, which is expected to significantly boost the growth for writing instrument market.
The increasing demand for customized products is significantly boosting the writing instruments market. The major players in the writing instrument market such as Montblanc, Faber-Castell, Lamy, Parker, and Cross offers high customization services or by partnering with third-party customization companies to meet their customer’s demand. There are vendors such as Pen Factory, PensXpress, National Pen, and Amsterdam Printing, providing highly personalized writing instruments to attract a large number of customers. Customers are more inclined towards customization and personalization because it gives them a sense of uniqueness, emotional attachment, identity expression, and enjoyment while possessing that product.
SEGMENTAL OVERVIEW
According to the writing instrument market analysis, the market is segmented on the basis of product type, end user, price point, distribution channel, and region. On the basis of product type, the market is segregated into pen, pencil, coloring instruments, highlighters and markers, and others. On the basis of end user, it is divided into students, professionals, and institutions. On the basis of price point segment is bifurcated into premium and economic. On the basis of distribution channel, the market is categorized into hypermarket and supermarkets, specialty stores, online sales channels, and others. On the basis of region, the writing instruments market is analyzed across North America, Europe, Asia-Pacific, and LAMEA (Latin America, The Middle East, and Africa).
BY PRODUCT TYPE
As per the writing instrument market forecast, by product type, the pen segment dominated the market, garnering a market share of 33.8% in 2022. Pen is the most preferred and traditional writing instrument across the globe, which is a major factor behind the dominance of this segment in the market. The growth of this market segment is driven by the expansion of business enterprises and industries, along with the rising number of educational institutions in developing and underdeveloped nations. The rapid increase in innovation of designs in pen and usage of cutting-edge technology may create emerging avenues for market growth, as it is projected to add new products with remarkable designs to their product line, serving to a higher number of consumers with such requirements.
BY END USER
As per the writing instrument market trends, by end users, the student segment dominated the market in 2022, accounting for 44.9% of writing instrument market share. This is significantly attributed to the huge penetration of basic primary education by the help of government initiatives like Basic Education in Africa Programme (BEAP), Scheme for Providing Quality Education in Madrasas (SPQEM), and many more in developing and underdeveloped nations. The growing demand for writing and drawing among students is anticipated to be greatly facilitated by the increased awareness of the value of fundamental education and recent breakthroughs in technology and everyday activities. Thus, the student segment has high potential to drive the growth of writing instrument market.
BY PRICE POINT
By type of price point, the market was dominated by the economic segment in 2022. The demand for writing instruments is anticipated to rise dramatically in this segment as a result of the increase in literacy rates in developing countries and the expansion of global economic activities. In the upcoming years, it is anticipated that the rapid rise in consumer disposable income will have a multiplier effect, leading to significant expansion in economic segment category.
Premium segment is expected to be the fastest-growing segment during the forecast period. It is anticipated that strong economic growth and customer demand for high-quality writing instruments have raised the need for premium writing products. Moreover, rising brand awareness among consumers and increased spending on R&D activities by the leading market players, premium segment has a wide range of potential for market advancement and help in steady writing instrument market growth. The market is expected to grow in the coming years as a result of the predicted diversification of applications of premium writing instruments. In addition, the market for writing instruments is seeing a surge in premium items due to the quick expansion of the production base with the use of latest technology, which is aided by improved economic activity and greater investment prospects in new product development.
BY DISTRIBUTION TYPE
By distribution type, other segment is expected to be the fastest-growing segment during the forecast period. The growth is due to the fact that convenience stores have longer hours of operation, which provide customers with a quicker purchasing alternative than other types of retail businesses currently available on the market. Whereas the department stores offer discounts on many different occasions, which encourages customers to visit frequently. These stores arrange their merchandise so that buyers may easily find what they're looking for in a single location. Additionally, it facilitates purchasing experiences of customers by allowing them to compare similar products under one roof.
BY REGION
Asia-Pacific was the largest market with 38.4% of the market share in 2022, while LAMEA is estimated to be the fastest-growing market owing to the rising penetration growth in rate of children enrolling in schools, the rise in consumers using mobile phones followed by increasing use of e-commerce and the increase in trend of customization and personalization in this region. In Asia-Pacific as a result of rise in interest in education and artistic pursuits, the demand for writing tools in this area has increased during the previous two to three years. Additionally, improved product quality and safety are the most important considerations currently when buying writing instruments in developing nations like China and India. Furthermore, the Asia-Pacific market offers growth opportunity for market players dealing with new and cutting-edge writing instruments since consumers in the region are adaptable to diversity and are prone to changing tastes and habits brought on by strong demographic, social, and economic pressures.
A major factor in the expansion of the writing instrument market in Asia-Pacific are due to the rising rates of child enrollment in schools, rising mobile phone usage, rising e-commerce usage, and rising customization and personalization trends. Countries like Angola, Benin, Burkina Faso, Burundi, Central African Republic, Chad, Comoros, Democratic Republic of the Congo, Djibouti, Madagascar, Malawi, Mali, Mauritania, Rwanda, Sao Tome and Principe, Senegal, Sierra Leone, Somalia, South Sudan, Sudan, Togo, Uganda, United Republic of Tanzania and Zambia in this region have gained access to education because of the initiatives taken by the governments of respective countries. The writing instrument market in LAMEA region is anticipated to develop as a result of the expansion of the creative industry. The market is predicted to grow quickly in terms of premium products in the upcoming years due to the growth in number of people who are participating in activities like sketching, calligraphy, and hand lettering. These factors collectively fuel market expansion in this area and has shown significant changes in the writing instrument market statistics.
COMPETITION ANALYSIS
The major players analyzed for the writing instrument market are Faber-Castell, Linc Pen and Plastics Private Limited, Mitsubishi Pencil Co., Ltd., Flair Writing Industries Limited, Hindustan Pencils Private Limited, Shanghai M&G Stationery Inc., Pentel Co., Ltd., Luxor Writing Instruments Pvt. Ltd., BIC USA Inc. (BIC), Newell brands, Caran d'Ache, A. T. Cross Co. LLC., Tombow Pencil Co., Ltd., Zebra Co., Ltd., KOKUYO Co., Ltd., Crayola, LLC. BIC USA Inc. is the manufacturer and seller of stationery products. It offers pens, pencils, markers, sketch pens, and writing instruments. It has 24 plants worldwide including 14 stationary factories, 6 lighter factories, and 4 shaver factories. Crayola is the manufacturer and seller of writing instruments and art supplies. It offers portfolio of innovative art tools, crafting activities, and creative toys for children above the age of 3 years.
- KOKUYO has introduced a 'Shukudai Motivation Pen' that changes the 'do not do scold' cycle of homework to the 'do praise' cycle and put the child in the homework motivation mode to bring attract kids' category and bring innovation in writing instrument category.
- Shanghai M&G Stationery has announced a strategic partnership with Carioca SpA, to become the exclusive distributor of Carioca products in China for the long term. It intends to include Carioca into its offline stationery stores and in accordance with the strategic partnership, Carioca also intends to distribute a few stationery items of M&G in Europe.
- Crayola, LLC has launched new long-lasting chalks and stencils for children aged four and older, to strengthen their portfolio in chalks and writing tools category.
- BIC announces the acquisition of Lucky Stationery Nigeria Ltd (LSNL), which is the number one writing instruments of Nigeria manufacturer to expand and strengthen its foothold its business units in African continent as it is a number one in the pens market in the region, selling approximately 425 million items a year, with expected double-digit annual growth within the next five years.
- Zebra pens has announced nationwide partnership with Highlands to expand commercial trade opportunities.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the writing instrument market analysis from 2022 to 2032 to identify the prevailing writing instrument market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the writing instrument market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global writing instrument market trends, key players, market segments, application areas, and market growth strategies.
Writing Instrument Market Report Highlights
| Aspects | Details |
 Market Size By 2032 | USD 18.1 billion |
 Growth Rate | CAGR of 4.6% |
 Forecast period | 2022 - 2032 |
 Report Pages | 425 |
 By Product Type |
|
 By End Users |
|
 By Price Point |
|
 By Distribution Channels |
|
 By Region |
|
 Key Market Players | Tombow Pencil Co., Ltd., Caran d' Ache, Luxor Writing Instruments Pvt. Ltd., Shanghai M&G Stationery Inc., Hindustan Pencils Private Limited, Crayola, LLC, Mitsubishi Pencil Co., Ltd., Zebra Co., Ltd., Pentel Co.,Ltd., A.T. Cross Co. LLC., FABER S.p.A., Flair Writing Industries Limited, BIC USA Inc. (BIC), Newell Brands Inc., Linc Pen & Plastics Limited, KOKUYO Co.,Ltd. |
Analyst Review
There is a rise in consumption rate of writing instruments owing to the increase in literacy rate among the under-developed and economically poor nations. The increase in emphasis of government to increase the literacy rate by the implementation of assistance programs for poor children to encourage a greater number of students to complete their primary education is a key factor which boost the demand for writing instruments market. The writing instrument market growth is driven by the increase in popularity of calligraphy and hand-lettering and increase in demand for customized products owing to the changing preferences of customers.
CXO further added that another major factor that may influence the demand for writing instrument market in the near future is there are always new demands in market, which need to be satisfied with innovative products and new capabilities. The key to success is moving one step ahead of the competitors by the introduction of products that are completely new and can perform more than one task as consumers are encountering a plethora of brands operating in the market. The market has a lot of potential as the companies are able to see more opportunities in product categories, channel improvement, new business development, and international markets. The key players keep a pace with the times by striving for innovation and embracing changes, and at the same time keep an eye on macro trends, carbon neutrality, and learnings from outstanding industry leaders, taking initiative to embrace innovative technologies such as artificial intelligence and metaverse, and continue to optimize their business eco-chain.
The base year calculated in the Writing instrument market report is 2022.
The forecast period in the Writing instrument market report is 2023 to 2032.
The pen segment is the most influential segment in the Writing instrument market report.
The top companies analyzed for global Writing instrument market report are Faber-Castell, Linc Pen and Plastics Private Limited, Mitsubishi Pencil Co., Ltd., Flair Writing Industries Limited, Hindustan Pencils Private Limited, Shanghai M&G Stationery Inc., Pentel Co., Ltd., Luxor Writing Instruments Pvt. Ltd., BIC USA Inc. (BIC), Newell brands, Caran d'Ache, A. T. Cross Co. LLC., Tombow Pencil Co., Ltd., Zebra Co., Ltd., KOKUYO Co., Ltd., Crayola, LLC.
The company profile has been selected on the basis of revenue, product offerings, and market penetration.
The market value of the Writing instrument market in 2022 was $11,720.4 million.
Asia-Pacific holds the maximum market share of the Writing instrument market.
Loading Table Of Content...
Loading Research Methodology...
