Product Novelty Dominating Competition Space of Art Supplies
Fact.MR has adopted multi-disciplinary approach to shed light on the evolution of the global art supplies market during the historical period of 2014 – 2018. The study presents a deep-dive assessment of the current growth dynamics, major avenues in the estimation year of 2019, and key prospects over the forecast period 2019 – 2029.
Fact.MR delivers vital insights on the art supplies market in its published report, which provides global industry analysis, size, share, growth, trends for the forecast period 2019-2029. In terms of revenue, the global art supplies market is projected to grow at a CAGR of ~ 4% during the forecast period, owing to numerous factors, which Fact.MR offers through insights and forecasts in this report.
In the modern age, where the usage and dependability on technology has surged, the possibility of using traditional art supplies has dwindled. However, the reality is far from this assumption surrounding the art supplies market. As evident, in following the pursuit of art, experienced as well as novice have shown a tendency to explore their creative potential by using traditional art supplies. The possibility of replacement of art supplies with modern day technology is nowhere on the horizon. By observing common trends followed by consumers on social media, the orientation in the art supplies market is shifting towards usage of innovative products such as fluorescent colors. Companies in the art supplies market are trying to address these shifting consumer preferences, by introducing new product lines and restructuring their existing product lines.
After reading the art supplies market report, readers get insight into:
- Major drivers and restraining factors, opportunities and challenges, and the competitive landscape
- New, promising avenues in key regions
- New revenue streams for all players in emerging markets
- Focus and changing role of various regulatory agencies in bolstering new opportunities in various regions
- Demand and uptake patterns in key industries of the art supplies market
- New research and development projects in new technologies in key regional markets
- Changing revenue share and size of key product segments during the forecast period
- Technologies and business models with disruptive potential
The art supplies market report offers assessment of prevailing opportunities in various regions and evaluates their shares of revenue by the end of different years of the assessment period. Key regions covered comprise:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico)
- Europe (U.K., Germany)
- APEJ (China, India)
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The evaluation of the competitive landscape in the art supplies market covers the profile of the following top players:
- Mitsubishi Pencil Co., Ltd
- Linc Pen & Plastics Ltd.
- Pelikan International Corporation Berhad
- ITC Limited
- Newell Brands Inc
- Pilot Corporation
- Pentel Co., Ltd.
- STAEDTLER Mars GmbH & Co. KG
- Hallmark Cards, Inc.(Crayola).
- Société BIC SA
- I.L.A. – Fabbrica Italiana Lapis ed Affini S.p.A.
- Kokuyo Camlin Ltd.
- Faber-Castell Aktiengesellschaft
Fact.MR opines that sales of art supplies via stationery shops is more than 40% in the global art supplies market. The sale via stationary shops is going to dominate the art supplies market in comparison with other sales channels. Digital platforms amalgamating art supplies manufacturers and social media platforms, have become a tool for consumers as well as marketers to showcase and expand their art supplies merchandises, which in turn is likely to boost the art supplies market. The number of people engaging with the brands on social media and other digital platforms has increased dramatically. The shift in focus from inexpensive to quality products has been an important transition in Western countries that will boost the future market value of the art supplies market. To reinforce the brand loyalty in western countries, some companies have chosen to showcase their portfolio to be environmentally sustainable. This is evident with Société BIC SA, one of the leading players in the art supplies market that has formed a partnership with Loop to reduce the packaging waste involved in consumer products.
To expand the understanding of opportunities in the global art supplies market report looks at close quarters into the opportunities and new avenues in following key segments:
- Independent Professionals
In addition to understanding the demand patterns of various end users, the report on the art supplies market also enumerates trends expected to attract investments by other various associated industries.
On the basis of product type, the art supplies market report offers insight into major adoption trends for the following segments:
The global art supplies market report offers detailed assessments and quantitative evaluations that shed light on numerous key aspects that have shaped its evolution over the historical period. In coming years, some of the key aspects that will shape the growth prospects during the forecast period are objectively covered in the study.
As is evident with the proliferation of art supplies manufacturers, companies have focused their efforts for expansion of distribution channels in developing countries such as India and Kenya among others. Companies have collaborated with local suppliers and distributors to push through barriers for sales. The strengthening of these sales channels in these developing countries will bolster the position of these companies in the art supplies market. The APEJ region is estimated to account for the highest market share in the global art supplies market in 2019 and is projected to increase massively during the forecast period. This remarkable growth is spearheaded by the rapidly growing economies in China and India.
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Some important questions that the art supplies market report tries to answer exhaustively are:
- Key strategic moves by various players in the art supplies market in recent years with respect to product launches, deals and tie-ups, and mergers and acquisitions, and divestment of shares.
- Which strategies will enable top players in the art supplies market to expand their geographic footprints?
- Which new business models are expected to change the course of growth of key regional markets in near future?
- Which technologies will witness most attractive research investments and what will be the key sources of funding for startups and new entrants?
- Which products segments have in recent years have seen new, lucrative application areas?