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Art Supplies Market Showcases Positive Demand for Major Product Categories during forecast period
A recent Fact.MR study foretells the art supplies market to record an expansion at 4.5% CAGR over the forecast period (2018-2028).
The Fact.MR report on global art supplies market analyzes opportunities in the market and presents updates and insights pertaining to various segments of the global art supplies market over the forecast period, 2018–2028. The scope of the report for art supplies market consists of equipment or tools required for visual arts. Art supplies market is an amalgamation of various sub-markets. Broadly, visual art supplies market consists of writing tools, painting tools, coloring tools and other miscellaneous equipment.
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Art Supplies Market Analysis: Pens segment is estimated to account for more than 78.1% share of the market by 2018 end, which is expected to remain the same till 2028 end
Art supplies continue to witness lucrative opportunities across countries on the backdrop of increasing number of independent art professionals worldwide. Moreover, growth in the prevalence of recreational arts sector has influenced the demand for art supplies. This has encouraged manufacturers to come up with innovative products in the market. The trending convergence of pens, which have more adoption rate, are further anticipated to create remunerative growth opportunities for the art supplies market.
Increasing popularity of auctions, exhibitions and arts shows, and the money associated with them has impacted the art supplies manufacturing sectors, creating demand for luxury and premium art supplies. Increasing demand for colors’ segment is creating opportunity for pencil colors and crayons.
A recent Fact.MR study foretells the art supplies market to record an expansion at 4.5% CAGR over the forecast period (2018-2028). Art supplies continue to witness increased traction in schools and residences end use sectors. However, growth in independent professionals’ end use sector is also expected to be impressive.
Art Supplies Market – Art supplies distributed as promotional products to spur global market demand
A growing demand for promotional products such as t-shirts, outerwear and calendars offered by companies to both employees and customers is expected to boost the art supplies market. A survey conducted by the Advertising Specialty Institute in 2016 estimated that 50% of all U.S. consumers owned promotional art supplies. Companies are anticipated to use writing instruments for a number of promotional purposes that should benefit the global art supplies market
Art Supplies Market - Focus on universal education in developing countries creating steady demand for art supplies
Schools account for a significant share of the overall demand for art supplies. Use of pencils, pens, notebooks, whiteboards, markers, etc. for art purposes in schools have been a major contributor to the art supplies market. Increasing focus on art and crafts as an important extra-curricular activity apart from sports is another factor that is boosting the demand for art supplies in school end-use sector.
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Art supplies analysis, by product type
Pens segment is expected to be valued at US$ 31,668.0 Mn by 2028 and is projected to register a CAGR of 4.5% over the forecast period. Furthermore, the segment is also the leading contributor to the overall art supplies market. This segment accounts for 74.3% market share in overall art supplies market in terms of product type and will continue to maintain its significant market share in the forecast years.
Art supplies analysis, by sales channel
Stationery shops are expected to remain the fastest growing sales channel even during the forecast period. Online sales channel is estimated to grow at a high CAGR of 4.4% among others. This is attributed to the increasing number of people using internet and smartphones for shopping varied products, such as groceries and fast moving consumer goods (art supplies).
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