Graphite Colored Pencil Market size is anticipated to expand at a CAGR of 2.4% over the forecast period of 2020 to 2030 - Persistence Market Research

Graphite Colored Pencil Market size is anticipated to expand at a CAGR of 2.4% over the forecast period of 2020 to 2030 - Persistence Market Research

PR Newswire

NEW YORK, Dec. 17, 2020

NEW YORK, Dec. 17, 2020 /PRNewswire/ -- Increase in literacy rate shows a positive attitude of people toward education. As per the UNESCO Institute for Statistics (UIS), around 258 million children and youth passed school in 2018. This total includes 59 million children of primary school age, 62 million of lower secondary age, and 138 million of upper secondary age. Global literacy rate has increased to 86.47% in 2019 for the population aged 15 years and older. This shows the importance of education and an opportunity for the writing instrument industry, which further generates demand for pencil products.

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As per PMR analysis, the global graphite colored pencil market will witness steady growth over the coming decade, to cross a valuation of US$ 2 Bn by the end of 2030.

 Key Takeaways from Graphite Colored Pencil Market Study

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"Prominent players in the graphite colored pencil market should focus on combining organic and acquisition-led growth. These initiatives would help making contact with end consumers to understand their specific needs, and boost their sales/distribution channel by increasing their product portfolio," says A PMR analyst.

Ascending Number of Online Shoppers

Increasing trend of online shopping among consumers has influenced pencil manufacturers to collaborate with online service providers, brand consultants, and marketing agencies to offer products through online sales channels. In addition, pencil manufacturers such as Paper Mate and others are investing significantly in e-Commerce. Paper Mate has partnered with most online retailer giants such as Amazon, Walmart, Target, Staples, etc., which provides a competitive edge over its rivals. Thus, companies are trying to increase their presence on online platforms to gain a significant market foothold, along with brand awareness among consumers.

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PMR's report underlines groundbreaking insights into the competitive scenario of the graphite colored pencil market, along with highlights of differential strategies used by manufacturers. Some prominent players in the global graphite colored pencil market include F.I.L.A.- Fabbrica Italiana Lapis ed Affini S.p.A, Societe BIC SA, Faber-Castell, Mistsubishi Pencil Co., Ltd., Pilot Corporation, Schwanhäußer Industrieholding 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., Hindustan Pencils Private Limited, Musgrave Pencil Company, Maped, Crayola, Graphite Pen & Pencil Company, and others.

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More Valuable Insights on Graphite Colored Pencil Market

Persistence Market Research released a new market research on the graphite colored pencil market covering global industry analysis of 2015-2019 and forecasts for 2020–2030. The graphite colored pencil market study reveals compelling insights on the basis of product (colored pencils, graphite pencils), end user (independent professionals, institutions, students, and other end users), sales channel (modern trade, specialty stores/stationers, departmental stores, franchise's outlets, online stores, and other sales channels), and price range (mass, premium), across seven major regions.

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