Report : North America Pens Market Forecast to 2030 - Regional Analysis - By Category (Refillable and Single-Use), Product Type (Ball Point, Fountain, Gel, and Others), and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others)
At 1.8% CAGR, the North America Pens Market is Projected to be Worth US$ 3,775.81 Million by 2030, Says Business Market Insights
According to Business Market Insights research, the North America pens market was valued at US$ 3,276.62 million in 2022 and is expected to reach US$ 3,775.81 million by 2030, registering a CAGR of 1.8% from 2022 to 2030. Growth of the education sector and customization and personalization are among the critical factors attributed to the North America pens market expansion.
The growth of the education sector has triggered a significant surge in the global demand for pens. This expansion is attributed primarily to the increasing emphasis on literacy and education, particularly in developing countries. As more students enroll in schools and universities, the need for pens as essential writing instruments has grown exponentially. This rise in demand has led to a more significant requirement for affordable, reliable, and easily accessible writing tools, further fueling the demand for pens worldwide. According to UNESCO, the number of tertiary students worldwide increased from 100 million in 2000 to 200 million in 2020. This surge in the number of students is positively influencing the pen market growth. In addition to traditional academic pursuits, the education sector has diversified into vocational and professional training programs. Students pursuing specialized courses in art, design, engineering, and architecture require specialized pens to meet their needs. Fine-tip pens for precise drawings, technical pens for architectural drafting, and other specialized writing instruments have become essential tools for these students. Consequently, this diversification has contributed to a more nuanced and varied market for pens, catering to various academic and professional requirements. The expansion of educational offerings further drives the global demand for pens. As educational institutions introduce new courses and programs, the need for writing instruments extends beyond traditional subjects. Pens are essential for students engaged in subjects such as social sciences, humanities, and natural sciences. Broadening educational horizons has ensured that pens remain indispensable tools for learners of all disciplines. The increasing importance of lifelong learning has also influenced the education sector. In a rapidly changing job market, individuals are seeking continuous skill development and education throughout their careers. This lifelong learning trend has led to sustained demand for pens as professionals engage in workshops, seminars, and online courses, often requiring writing instruments for note-taking and other tasks.
The fostering of creativity and critical thinking bolstered the demand for pens. Pens are used for brainstorming, sketching ideas, and problem-solving in traditional and modern educational settings. This cognitive aspect of pen usage ensures they remain valuable tools in educational environments, prioritizing innovation and critical thought.
On the contrary, rising digitalization hampers the growth North America pens market.
Based on category, the North America pens market is bifurcated into refillable and single-use. The refillable segment held 77.3% share of the North America pens market in 2022, amassing US$ 2,532.35 million. It is projected to garner US$ 2,937.52 million by 2030 to expand at 1.9% CAGR during 2022-2030.
By product type, the North America pens market is segmented into ballpoint, fountain, gel, and others. The ballpoint segment held 41.6% share of the North America pens market in 2022, amassing US$ 1,361.72 million. It is projected to garner US$ 1,618.04 million by 2030 to expand at 2.2% CAGR during 2022-2030.
By distribution channel, the North America pens market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. The specialty stores segment held 40.6% share of the North America pens market in 2022, amassing US$ 1,329.41 million. It is projected to garner US$ 1,498.97 million by 2030 to expand at 1.5% CAGR during 2022-2030.
Based on country, the North America pens market is segmented into the US, Canada, and Mexico. The US held 75.6% share of North America pens market in 2022, amassing US$ 2,477.78 million. It is projected to garner US$ 2,827.53 million by 2030 to expand at 1.7% CAGR during 2022-2030.
Key players operating in the North America pens market are A T Cross Co LLC, C Josef Lamy GmbH, Flair Writing Industries Ltd, Grayson Tighe, Montblanc-Simplo GmbH, Pelikan International Corp, PILOT Corp, Sailor Pen Co Ltd, STAEDTLER Mars GmbH & Co KG, and The Parker Pen Co, among others.
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