NEW YORK, April 21, 2022 (GLOBE NEWSWIRE) — The Vietnamese writing instruments market should to reach $202.7 million by the end of 2032, expanding at a CAGR of 6.7% from 2022 to 2032, due to increased use of energy-efficient technologies by writing instrument manufacturers and growing demand for durable and biodegradable plastic pens, among other factors. Additionally, as consumers have become more aware of environmentally friendly products, companies have the choice to use sustainable packaging.
Producers around the world place great emphasis on product differentiation by creating unique and stylish writing instruments. For example, they sell ballpoint pens with styluses, pens with different inks, and writing instruments with designer/custom clips, glossy colors, and other features.
At the Mekong Connect 2020 meeting on December 21, 2020, BIZNER unveiled several high-end pen devices, including BIZ-WB02 and BIZ-01. The BIZ-Gel23 and BIZ-Gel24 are two new gel pen variants aimed at successful, high-income businesspeople.
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Key insights from market research
- The Vietnamese writing instruments market is mainly dominated by pens and pencils in the product type category.
- In the sales channel, hypermarkets and supermarkets dominated the offline sales channel, as consumers like to try products before buying.
- The low price of raw materials for writing instruments is one of the major impediments to the expansion of the Vietnamese writing instruments market.
“Due to increased competition, manufacturers have come up with more types and inventive writing instruments than ever before. Producers need to develop new products that appeal to consumers who are more interested in technology, such as pens mess-free, computers that convert handwritten notes into computer text, etc.,” says an analyst at Persistence Market Research.
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Main market players
The study includes ground-breaking insights into the competitive landscape of the Vietnam Writing Instruments industry along with highlights of differentiated strategies by manufacturers.
Some of the key players identified in the market include Kokuyo Camlin Limited, Société BIC SA, San Yann Industry Co. Ltd., Mitsubishi Pencil Co., Ltd., Faber-Castell, Newell Brands Inc., Schneider Schreibgeräte GmbH, STAEDTLER Mars GmbH. & Co. KG, Linc Pen & Plastics Ltd., KOTOBUKI Co. Ltd. and Shanghai M&G Stationery Inc.
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Learn more about report inclusions
Persistence Market Research has published a new market report on Vietnam Writing Instruments Market, covering the global industry analysis from 2017-2021 and forecast from 2022 to 2032. This research report provides compelling insights into based on product type, end use and sales channel.
The report also includes forecasting factors and vital macroeconomic factors that are expected to boost the growth of the global market. It also discusses the restraints that are expected to hinder the growth of the market along with the latest trends and potential opportunities in the market.
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