Colour Pen Market Overview, Cost Structure Analysis, Growth Opportunities by 2023

Sep 11, 2020:  The global colour pen market is expected to display higher growth rate over the next seven years. Rapid surge in market is credited to the availability of broad range of products and rising literacy rate. Increasing promotional activities adopted by industry participants involving TV advertisement, radio ads, billboards and digital product promotion is expected to drive the growth of market over the forecast period. Globally, market is predicted to generate massive revenue over the next seven years, providing numerous opportunities for industry participants to invest in research and development of colour pen.

The recent advancement in colour market coupled with integration of highly advanced technologies such as pigment technology, election ink and colored felt-tip pen are anticipated to impel the growth of colour pen market during the forecast period.

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Rising disposable income and high product penetration, particularly in developing as well as underdeveloped economies are expected to boost market demand for colour pen over the forecast period. Favorable government initiatives, programs and schemes to promote extracurricular activities along with primary education is driving market growth as well.

Growing popularity of colour pen among children is the key market trend associated with colour pen industry. Rising demand for flat-tip pen or marker and coloured fountain pens is attributed to rise in number of distribution channels and availability of low cost product range in the market. Ever-growing population in Asia Pacific region and increasing of educational NGOs (non-governmental organizations) are propelling industry growth over the next five years. However, rising preference towards digital whiteboards and pens, particularly in European region, is restraining market advancements to a certain extent.

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The colour pen market is broadly categorized into five major segments based on the product type such as coloured art pen, colour pencil, color ball pen, coloured chalk, artistic oil painting stick and flat brush. Colour ball pen segment is growing rapidly in the market with substantial revenue generation in the last few years. Growing popularity of colour ball pen segment is attributed to the growing popularity among kids and enables a higher product penetration in the market.

The colour pen market e is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in implementation of latest technologies in manufacturing sector, surge in number of research & development activities and existence of well-established industrial infrastructure in the region. In European region, Germany, France, and United Kingdom are projected to witness steady growth.

Asia-Pacific region is estimated to hold a major share in the colour pen market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with rising educational expenditure, increasing number of educational NGOs (non-governmental organizations), ever-growing population, rising disposable income, and significant investment by leading industry players considering potential growth opportunities in the region.

The key players in the colour pen market are True Color LLC, Deli Group Co., Ltd., Faber-Castell, Inc., Sakura Stationery Co., Crayola LLC, Schwan-STABILO GmbH & Co., KG, Cello Writing Instruments and Containers Pvt., Ltd., and Kokuyo Camlin Ltd.

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