How Is the Luxury Writing Instruments And Stationery Market Expected To Grow Through 2023-2032?
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
As per The Business Research Company’s report for 2023, the luxury writing instruments and stationery global market is projected to increase from $4.22 billion (in 2022) to $4.61 billion (in 2023) with a 9.3% CAGR. By 2027, this market is forecasted to reach $6.5 billion, growing at a 9.0% CAGR.
North America was the largest region in the luxury writing instruments and stationery market share in 2022.
Luxury Writing Instruments And Stationery Market Driver
The surge in office and educational promotional items, like apparel and calendars, significantly fuels luxury stationery market growth. These branded products, given to promote a company or institution, require frequent use to boost brand presence. Similarly, luxury writing tools and stationery serve such promotional purposes, leading to increased demand. ASI’s 2020 Ad Impressions study found high ownership of promotional writing instruments and bags among consumers, with eco-friendly options earning favor. Consequently, the luxury stationery market should benefit from the growing prevalence of promotional products.
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Key Luxury Writing Instruments And Stationery Market Segments
The global luxury writing instruments and stationery market is segmented –
1) By Type: Pens, Pencils, Coloring Instruments, Highlighters And Markers, Diaries And Notepads, Other Types
2) By Channel: Online, Offline
3) By Application: Students, Professionals, Institutions, Other Applications
Luxury Writing Instruments And Stationery Market Prominent Players
Major players in the luxury writing instruments and stationery market are Conway Stewart Westminster, Faber-Castell, AT Cross Company, Shanghai Hero Pen Company, Sheaffer Pen Corporation, Montblanc International GmbH, Louis Vuitton, Smythson of Bond Street, Bentley Pens, David Oscarson Pens, Elmo & Montegrappa, Parker Pen Company and ST Dupont.
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Prominent Luxury Writing Instruments And Stationery Market Trend
The luxury writing instruments and stationery market is witnessing a recent trend towards green stationery. Key market players are emphasizing eco-friendly stationery products, which are environmentally safe, made from organic, biodegradable materials, and easy to dispose of. These products not only protect the environment but also enhance brand value and customer appeal. For instance, BLUSAIGON, a Vietnam-based luxury writing instrument manufacturer, launched a recyclable luxury pen line in April 2021. These pens, created using traditional pearl mosaic techniques and modern design principles, address the issue of plastic waste in Vietnam’s waterways.
The Luxury Writing Instruments And Stationery Global Market Report 2023 provides comprehensive insights on the luxury writing instruments and stationery market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the luxury writing instruments and stationery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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