Global Industry Analysts has announced the release of a comprehensive global report on Stationery Products. The global market for Stationery Products is projected to exceed $226-billion by 2020, driven by steadily improving literacy rates, increasing school enrolments, favourable demographics and growing enterprise activity.
From childhood and early education to employment and beyond, stationery products touch every stage of life. Products such as pens, pencils, papers and other accessories have a place in homes, offices, businesses and classrooms around the world. The stationery market evolved over the years to offer a wide array of products catering to different consumer segments. While education sector drives significant demand for basic stationery products, office supplies too have been contributing considerably to the market. While carbon paper, inked ribbons, mailing supplies, and writing instruments have been a common feature in offices since long, modern enterprise sector, typically corporate and branch offices have been generating substantial demand for products such as marking devices, writing pads, binders, and party goods, among others. Health of enterprise sector, as represented by number of new office starts and branch expansions typically dictate growth patterns in office use stationery supply market.
Growing levels of literacy has made basic stationery items such as pens, pencils and paper ubiquitous products across the globe. The global stationery products market is experiencing growth at the back of rising youth population, need for education, growing number of primary & secondary educational institutions, and ever increasing student enrolments across the world. Since the mandating of Education for All framework established by the United Nations in 2000, countries across the world have made rapid progress towards attaining the goal. Future growth in the global stationery products market is expected to come from emerging economies in Asia, Latin America, Middle East and Africa. Key factors driving growth in these markets include growing population, expanding base of professionals, increasing literacy rates, rising disposable income, increased spending on education, government initiatives to improve education sector, and a parallel increase in number of school establishments.
The electronic age brought mixed bag of challenges and opportunities for the stationery market. While traditional segments such as mailing supplies and paper based products have taken a direct hit due to digitisation, introduction of computers and advanced gadgets however expanded the scope of the industry, creating a new category of consumables such as printing papers and inked ribbons, marking devices, and labels.
As stated by the new market research report on Stationery Products, the United States represents the largest market worldwide. Asia-Pacific ranks as the fastest growing market with a CAGR of 6.4% over the analysis period. Growth in the region is largely driven by large population base, steady growth in child births, increase in literacy rates, rise in number of school enrolments per year, increase in business development activities and subsequent rise in number of office establishments. The growing education sector being a significant contributor to the stationery market is thriving in developing Asian countries such as India and China.