Art Supplies Market Insights
The art supplies market is poised to expand 1.6X in terms of value, and is foreseen to expand at a CAGR of 4.5% during the forecast period of 2020-2030. Several economies being shutdown has led to shortages of art supplies as the COVID-19 pandemic is taking a toll on the global movement of goods, from wholesale distribution to retail stores, and the manufacturing industry. As a result, the import and export of art supplies in several countries across the world has been hit, resulting in declining sales of art-related products.
However, industry players are focusing on maintaining strong relationships with dealers and suppliers to ensure uninterrupted access to products that their customers rely upon. This, in turn, is anticipated to boost the expansion of the art supplies market size during the forecast duration.
Art Supplies Market Insights by Sales Channel
Increasing trend of online shopping is influencing manufacturers in the art supplies market to collaborate with online service providers, brand consultants, and marketing agencies, to offer their products through online channels of distribution. Such collaborations with e-Commerce players are expected to accelerate the demand for art supplies. Moreover, consumers’ propensity to spend on luxury art supplies is encouraging manufacturers to develop high quality products, as cost has now become a secondary option while purchasing art supplies.
On the other hand, the educational movement in emerging countries for the development of skilled and capable workforce is supplementing the need for pencils, pens, markers, and other art supplies. Further, increasing focus on extra circular activities in academic institutions is expected to drive the growth of the art supplies market during the forecast period.
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Art Supplies Market Insights by Product Type
Among all the art supplies product types, writing pens are expected to capture more than 50% of the market share in 2020. Factors such as increasing literacy rate, initiatives taken by governments to develop academic institutions, and rising number of student enrollments in schools and colleges are driving the sales of writing pens.
In addition, manufacturers are focusing on offering innovative writing instruments that have multipurpose use cases. For instance, Pilot Corporation launched the Frixion Series of erasable ballpoint pens. Such developments of products are expected to strengthen the market for writing pens in the future.
Moreover, art supplies market players are focusing on using natural and recyclable material for the manufacturing of pens, which has further increased the demand for pens, globally. Owing to the above-mentioned facts, environmentally-friendly aspects and innovative product offering related to writing pens will drive demand over the forecast period.
Regional Outlook of Art Supplies Market
North America will dominate the global art supplies market share in 2020, accounting for more than 35% of the market share in terms of value, followed by East Asia with 1/4 of the share. However, North America, with the most COVID-19 cases, and being a key region for art supplies, coupled with a high number art supplies companies, has witnessed a negative impact on sales in 2020.
Moreover, with growing popularity of innovative art supplies in developed countries, especially among millennials and generation Z, is foreseen to create a plethora of opportunities for players operating in the art supplies market.
During the course of the forecast period, North America is envisioned to sustain its lead in the global art supplies market. Factors such as continuous launch of new products and high spending power of consumers will keep this region as the most attractive market for art supplies market during the forecast period.
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Art Supplies Market Competition Insights
The global art supplies market is highly fragmented in nature, with the presence of a large number of local and regional players. Some of the prominent market players are Newell Brands, Pilot Corporation, Staedtler Mars GmbH, and Mitsubishi Pencil Co., Ltd, among others. These market players are concentrating on product launches in order to broaden their market footprints. An example of such product launches is: In 2019, Staedtler introduced its Concrete Ballpoint pen, which is made of matt chrome metal, in collaboration with the Nuremberg Institute of Technology.
COVID-19 Impact on Art Supplies Market
The COVID-19 pandemic continues to spread around the world, and hardly any industry has escaped its effects since the outbreak. It has affected the market in different ways, and also had a huge impact on the art supplies market supply chain, resulting in considerable slowdown in the growth of these products. North America is one of the prominent regions for art supplies, and will see a maximum fall in demand, as it is the most affected region by the outbreak.
However, amid the downturn for offline sales of art supplies, growing use of virtual technologies will enhance online shopping among consumers, and this is expected to gradually increase the sales of art supplies. As per the recent report published by Fact.MR, it is estimated that, the art supplies market demand curve will start showing positive signs by the third quarter of 2020, as various institutions such as schools, colleges, and other academics institutions are being reopened.
The Analyst’s Viewpoint
“The unprecedented impact of COVID-19 will have short-term implications on the art supplies market. However, as a result of growing number of households with children and increasing popularity of leisure artwork, demand for art supplies is bound to increase substantially during the forecast period.
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Global Art Supplies Market: Scope of the Report
The recent global art supplies market report by Fact.MR offers a 10-year forecast from 2020 to 2030. The report elaborates on the key drivers, restraints, opportunities, and threats to the expansion of the global art supplies market. A detailed segmental analysis based on product type, end user, and sales channel, and region has been provided in the report.
Regional analysis in terms of supply chain analysis, business execution, and market value analysis provides an in-depth perspective about the future scope of the global art supplies market. In addition, a separate section on the market structure has also been provided. This section provides detailed analysis of key market players and their strategies for expansion in the global art supplies market.
Art supplies Market: Segmentation
FactMR’s study has done the segmentation of the art supplies market on the basis of product type, end user, and sales channel, across several regions.
- Pencils and Accessories
- Graphite Pencils
- Mechanical Pencils
- Pencil Leads
- Writing Pens
- Ballpoint Pens
- Coloring Products
- Colored Pencils
- Fiber-tip Pens
- Crayons, Chalks, and Oil Pastels
- Universal Pens
- Whiteboad Markers
- Flipchart Markers
- Dry Markers
- Other Art Supplies
- Academic Institutions
- Other Academic Institutions
- Other Commercial Institutions
- Stationary Stores
- Departmental Stores
- Online Sales
- Other Sales Channels
- North America
- Latin America
- East Asia
- South Asia & Oceania
Art Supplies Market – Scope Of The Report
The art supplies market is anticipated to witness notable upsurge during the forecast period of 2020 to 2030, conferring to a new Fact.MR study. The study promotes crucial trends that are presently determining the growth of the art supplies market. This newly published and perceptive report sheds light on the vital dynamics that are likely to affect the future of the market, in turn, generating worthwhile opportunities for key companies as well as evolving players who are interested in the manufacturing of art supplies.
The global art supplies market study is a detailed market intellect on key revenue progression factors, challenges, industry trends, and opportunities, which will eventually influence the growth of the market. The report primarily conveys a summary of the art supplies market, considering present and upcoming art supplies industry scenarios, to reveal striking sides relating to the acceptance of art supplies across prominent regional markets.
A detailed assessment on few of the art suppliers accessible in the report allows report readers to obtain detailed findings that have resulted from art supplies chain analysis, business execution, and value chain analysis across the regional markets incorporated in the report. A list of prominent companies functioning within the art supplies market provided in the report enhances the reliability of this ample research study.
Art Supplies Market: Report Summary
The study offers a comprehensive overview on diverse features that are inducing demand, revenue generation, and sales in the art supplies market across the globe. A comprehensive estimate on the art supplies market has also been made accessible by experts, who have considered market estimates on the basis of a likely scenario, an optimistic scenario, and a conservative scenario, regarding the sales of art supplies during the forecast period. Analysis and estimation of price point comparison by region and by product with the global average price has been included in this study.
Art Supplies Market: Analysis on Market Size Evaluation
Predictions of the art supplies market, encompassing current as well as forthcoming projected value estimates and analysis on region-wise demand trends and price index have been assimilated in the report. Market estimates at regional and global scales for art supplies are available in terms of value “US$ Mn” and volume “Mn Units”. A Y-o-Y growth contrast on prominent art supplies market segments, along with market attractiveness valuation computes the understandings brought in the report. Metrics mentioned above are also followed based on art supply applications, where art supplies witness steady demand.
Art Supplies Market: Scrutinized Assessment on Regional Segments
Weighted sections have been elaborated in the report on the art supplies market, which delivers projections on regional markets. These chapters brighten the regional macros (political economic and business environment outlook), which are expected to have a significant impact on the growth of the art supplies market during period of forecast. Country-specific valuation on demand for art supplies has been offered for each regional market, along with market scope estimates and forecasts, price index, price point assessment, and impact analysis of the dynamics of prominent regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Art Supplies Market: In-depth Analysis on Competitive Landscape
The report ends with a section on the competition scenario of the art supplies market, along with the profiles of major companies contributing to market expansion. Essential and up-to-date data as well as information correlated to market performers who principally engage in the production and supply of art supplies has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to plan presumptive steps to advance their businesses. Company profiles have been shared with report, which exerts essentials such as product portfolio, along with an all-inclusive SWOT analysis on each player recognized, along with company policies identification and analysis. Company presence mapped and presented through a matrix for all the prominent players in the art supplies market offers readers with actionable intellect, which helps in thoughtfully presenting the market status, and making decisive predictions on the competition levels in the art supplies market. Major companies operating in the art supplies market are Newell Brands Inc., Société Bic S.A., Pilot Corporation, ITC Limited, Linc Pen & Plastics Ltd., and Faber Castel AG.
Impact of COVID-19 on Art Supplies Market
The report includes a scenario-based assessment of the impact of COVID-19 across key regions for all four quarters of 2020. The report discusses market forecasts under optimistic, probabilistic, and pessimistic scenario. Under these three scenarios, demand loss and recovery has been illustrated and described through L-shaped and U-shaped recovery curves. Alongside, the COVID-19 impact has been benchmarked with previous crises, including sub-prime crisis, Eurozone crisis, and SARS pandemic.
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Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
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