The global stationery products market size is expected to reach USD 128.5 billion by 2025, expanding at a CAGR of 5.1% in the forecast period, according to a new report by Grand View Research, Inc. Rapid rise in the number of educational institutions and inclination of the young population towards higher education across the globe are the prominent factors for the market growth.
The paper based segment held the largest share of 30.4% in 2018. Despite digitization hitting the industries, the usage of paper for printing remains the same. Growth in the number of coaching institutions in countries such as India is also likely to driving the segment in the forecast period. The ink based segment is expected to expand at the fastest CAGR of 5.7% over the forecast period. Growing trend of luxury pens as a status symbol is driving the market. Furthermore, product innovation is found to be the prominent factor for the market growth. For instance, introduction of waterproof ink pens and RGB pens has fuelled the market growth.
Educational institute is the largest application segment and it accounted for 45.3% share of the total revenue in 2018. Rapid rise in the number of schools and colleges in rural areas has driven the segment. The corporate sector is anticipated to expand at a CAGR of 5.3% over the forecast period. High usage of items such as paper, staplers, and adhesives in the government sector as well in the private corporate sector is driving the market.
Asia Pacific is the largest regional stationery products market and the region accounted for 32.0% share of the overall revenue in 2018. India is one of the leading markets, expanding at a CAGR of 6.2% in the forecast period. Growing usage of the product in the rural areas due to replacement of traditional methods with the new stationery items is propelling the market growth in the region.
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Further key findings from the study suggest:
The paper based segment led the stationery products market and held a share of 30.4% in 2018
Countries such as South Africa and Saudi Arabia are projected to witness significant growth due to growing trend of education, which has led to an increase in the number of educational institutes
By application, educational institutes are expected to witness the fastest growth in the forecast period.
Grand View Research has segmented the global stationery products market on the basis of product, application, and region:
Stationery Products Outlook (Revenue, USD Billion, 2015 - 2025)
Stationery Products Application Outlook (Revenue, USD Billion, 2015 - 2025)
Stationery Products Regional Outlook (Revenue, USD Billion, 2015 - 2025)
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