Cambodia & Myanmar Writing Instruments Market to Register a Robust Growth Rate By 2032
Cambodia & Myanmar sales of writing instruments are estimated to reach US$ 65.1 Mn by the end of 2032, increasing at a CAGR of 4.11% from 2022 to 2032, mostly driven by increasing use of energy-efficient technologies by writing instrument manufacturers and rising demand for sustainable and biodegradable plastic pens.
Writing instrument manufacturers have the option to use sustainable packaging as consumers have become more aware about environment-friendly products. Moreover, manufacturers are emphasizing on product differentiation by offering innovative and designer writing instruments. For instance, companies are offering ballpoint pens with stylus, pens with multiple inks, and writing instruments with designer/customized clips, vibrant colors, etc.
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- In 2020, within the framework of the Mekong Connect 2020 forum that took place on December 21, BIZNER introduced many high-end pen products such as BIZ-WB02 and BIZ-01. The brand also launched 2 new gel pen models – BIZ-Gel23 and BIZ-Gel24, targeting successful and high-income businessmen. BIZNER is a high-class stationery brand of the Thien Long Group. The Thien Long Group is committed to bringing the best quality products into the market to become the #1 stationery company in Southeast Asia and a leading company in terms of manufacturing and trading stationery products.
Key Takeaways from Market Study
- Under product type category, pens and pencils held the largest share in the writing instruments market.
- Under sales channel, hypermarkets/supermarkets are dominating due to the fact that consumers intend to experience the product before making any purchase.
- One of the major challenges for the growth of the writing instruments market in Cambodia & Myanmar is low commodity prices of the products.
“Increased competition has forced manufacturers to come up with more variants in writing instruments than before. Due to high competition, manufacturers have had to come up with new alternatives that attract consumers as they are more inclined toward product varieties such as mess-free pens, computing writing tools that convert hand notes into computer text, etc.,” says an analyst at Persistence Market Research.
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Key Market Players
The study includes ground-breaking insights into the competitive landscape of the writing instruments industry in Cambodia & Myanmar, as well as the highlights of manufacturers’ differentiated strategies.
Some of the key players identified across the value chain in Cambodia & Myanmar include
- Société BIC SA
- Faber-Castell
- Mitsubishi Pencil Co., Ltd.
- Newell Brands, Inc
- Shanghai M&G Stationery Inc
- Schneider Schreibgeräte GmbH
- Kokuyo Camlin Limited
- STAEDTLER Mars GmbH & Co. KG
- Linc Pen & Plastics Ltd.
- KOTOBUKI Co. Ltd.
- San Yann Industry Co. Ltd.
- Others
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Know More about Report Inclusions
Persistence Market Research published a new market report on the bicycle apparels market, covering global industry analysis of 2017-2021 and forecasts for 2022 to 2032. This research report provides compelling insights on the basis of product type, end use, and sales channel, across all major regions of the world.
The report also includes forecast factors and vital macroeconomic factors that are anticipated to boost the growth of the global market. It also addresses the restraints that are projected to hinder market growth, along with the latest trends and potential opportunities in the market.
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