The global writing instruments market is expected to expand at a steady CAGR of 3.9% and reach a market size of US$ 32.9 Bn by the end of 2032. A prominent trend in this market at present is that of writing instruments being manufacturers from recycled waste and biodegradable materials.
Recycling writing instruments isn’t simple but is still necessary to prevent environmental damage. The frenzy of consumers for a new kind of item made from organic materials or bio-degradable materials has caused a worldwide increase in the demand for products manufactured from recycled waste or recyclable products.
Companies have highlighted versatile polyethylene terephthalate (PET) pens that are made from deeply recycled polyethylene terephthalate bottles. Because of this, it has helped businesses gain an advantage over competitors in the industry by providing customers with several sustainable and biodegradable products.
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In recent years, the recycling of plastic packaging materials has increased, but the recycling rates for most plastic packages have remained low. In response to this, TerraCycle and Société BIC SA, a leading partnership based in North America, have come up with a project to counter the problem of pencil waste. Users have the option of requesting a bag and can set online shipping labels.
Several countries have stepped up to offset the negative environmental impacts caused by non-decomposable writing instruments. For instance, the U.S. federal government and its socio-environmental agencies have set up around 5,500 pickup points near schools, cafes, grocery stores, and libraries where people can drop off their used instruments.
Key Takeaways from Market Study
- Writing instruments are especially beneficial to corporations that wish to enhance their market presence through marketing campaigns. The trend of writing instruments being used for promotional activities by SMEs and large corporations is relatively consistent.
- Among the product categories, the pens segment will account for a significant share of the market.
- Growing trend among consumers for luxury writing instruments as a status symbol and increasing number of brand-conscious people in the Western European region will drive demand for writing instruments in Europe.
- Hypermarkets/supermarkets are considered the most popular distribution channel for writing instruments. However, online sales are anticipated to increase faster over the years ahead.
“Growing awareness about environment-friendly and biodegradable materials is altering the preferences of manufacturers as well as the consumers. Recycling processes are gaining interest as various corporations gear up to manufacture green goods. This has spurred the development of sustainable packaging, and, subsequently, enticed buyers toward writing instruments made from recycled materials,” says an analyst at Persistence Market Research.
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Key Market Players
The report highlights internationally insightful findings on competitive matters of the global writing instruments market, including the strategic approaches adopted by manufacturers that empower their dominance.
Some of the key players identified across the value chain include Société BIC SA, Faber-Castell, Mitsubishi Pencil Co., Ltd., Pilot Corporation, Schwanhäußer Industrie Holding GmbH & Co. KG, Newell Brands, Inc., Shanghai M&G Stationery Inc., Schneider Schreibgeräte GmbH, Kokuyo Camlin Limited, C Josef Lamy GmbH Srl, STAEDTLER Mars GmbH & Co. KG, Luxor Writing Instruments Private Limited, Linc Pen & Plastics Ltd., and Hindustan Pencils Private Limited.
Know More about Report Inclusions
Persistence Market Research published a new market report on the global writing instruments market, covering global industry analysis of 2017-2021 and forecast for 2022 to 2032. This research report provides compelling insights on the basis of product, end user, and sales channel, across seven major regions of the world.
The report also includes forecast factors and vital macroeconomic factors that are anticipated to boost the growth of the global writing instruments market. It also addresses the restraints that are projected to hinder market growth, along with the latest trends and potential opportunities in the market.
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