Nov 26, 2018
Pen Sales to Ride the Coattails of “Digital Detox” Trend and Growing Emphasis on Smart Study
by Team Fact.MR
Writing by hand plays an indispensable role in the learning and development of children. With technology morphing lifestyle and working culture of the global population, writing plays a pivotal role in the level of engagement involved in the process of learning. However, there has been a significant decline in writing by hand, among young Millenials and Generation Z in particular, against the backdrop of the digitalization trend.
The insights presented here are based on a research study. A summary of the report is available upon request.
Worldwide sales of pens in 2018 has been estimated at over US$ 5,000 Mn, recording a sluggish CAGR of nearly 2%. However, sales of pens across the globe are expected to witness promising prospects in the near future, underpinned by the trend of “digital detox,” and growing preference for fountain pens among consumers. Several consumers are hinged toward fountain pens, following international trends, when it comes to gifting teachers and writing enthusiasts, and for special signing moments.
Approach Towards Smart Study via Pen & Paper Learning
With the advent of new technologies in the education sector fast gaining traction, innovations in teaching and learning is gaining a technical vigor, thereby translating into e-learning or tech learning. “Smart” is becoming the norm not only among students and educators, but also in learning and development approaches. Maximum learning systems available currently have lower or no involvement of pen & paper-based learning.
Emergence and integration of the ICT technologies in the space of education does not allude extinction of traditional education approaches. It indicates that smart study is becoming the key that enables students to constantly learn in a more effective manner with the aid of smart pens and papers. Smart pens and papers convert contents written into a digital format, enabling the practice for handwriting in traditional manner while strengthening the interface between learning and development.
APEJ to Retain its Supremacy in Pens Market
Demand for fundamental writing instruments in significant in the countries of Asia-Pacific excluding Japan (APEJ), owing to robust population strength and growing literacy levels. Sales of pens in APEJ are expected to surpass revenues worth US$ 2,000 Mn in 2018. Focus of the countries in APEJ to strengthen their education sector is a key factor driving sales of pens in these nations.
Europe and North America are also expected to retain their position as lucrative markets for pens – these two regions will collectively account for pen sales worth more than US$ 2,500 Mn in 2018. Demand is higher for luxury pens in these markets, primarily attributed to greater disposable income of consumers. Luxury pens are preferred as gifting items as well as fashion accessories likened to luxury watches.
Key players in the pens market are focusing on building shareholder value, following the trend of fine writing that rides the coattails of improving world economy. With promising economic growth worldwide, corporate gift buyers and consumers in mature markets such as North America and Europe will sustain sales, whereas growing middle-class population will fuel sales of pens in emerging countries of APEJ.
Market Players Adopting Innovative Strategies to Gain a Competitive Edge
Key suppliers in the pens market are combating the consumer perception toward pens as “cheap and disposable products” by updating features and approaches in design and development. Leading suppliers are shifting their focus toward the inclusion of new writing instrument styles in their portfolios, thereby enabling variety and staying ahead of trends. This further enables distributors to have various options for clients.
The pens market is expected to witness bright future prospects across the globe, underpinned by a combination of aspects that include focus of companies on outlasting competitors and improving product services. Customization and personalization of writing instruments is further expected to boost future growth of the pens market.
Aforementioned insights on the pens market have been extracted from an analytical research study of Fact.MR. Get the sample of this report at