Virtual technologies are expected to enhance online shopping, boosting the universal pens art supplies market by 2031, despite COVID-19 challenges.
The Fineliners art supplies market is poised to witness growth at a steady 4.5% CAGR throughout the projected period, 2020-2030. The growth can be primarily attributed to the growing number of student enrolments in colleges and schools and government initiatives to develop academic institutions.
“The unprecedented influence of COVID-19 is likely to have short-term effects on the art supplies market. Though due to the growing popularity of leisure artwork, rising number of households with children require art supplies, this assures the significant upsurge over the assessment period.” says the Fact.MR report.
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Universal Pens Art Supplies Market – Key Takeaways
Fineliners Art Supplies Market – Driving Factors
Universal Pens Art Supplies Market – Constraints
Anticipated Market Impact by COVID-19 Outbreak
COVID-19 pandemic has affected the art supplies market players adversely in terms of the supply side, triggering slumping sales of art supplies. Conversely, amid the decline in offline sales, increasing the use of virtual technologies is likely to improve online shopping amid customer, and this is anticipated to progressively boost the sales of art supplies.
Explore the Art Supplies market comprising of 170 figures and 69 data tables, along with the table of contents. You can find a detailed market segmentation on https://www.factmr.com/report/1226/art-supplies-market
Graphite Pencil Art supplies Market: Segmentation
FactMR’s study has done the segmentation of the art supplies market on the basis of product type, end user, and sales channel, across several regions.
Product Type
End User
Sales Chanel
Region
Competition Landscape
Major companies identified in the Art Supplies market are Faber Castell AG, Newell Brands Inc., Camlin Group Ltd., SOCIETE BIC, F.I.L.A. Group, STAEDTLER Mars GmbH & Co. KG, Maped Helix, Pentel Co. Ltd., Mitsubishi Pencil Co., Ltd, Pilot Pen Company, Tombow Pencil Co., Ltd., and ITC Limited.
More on the Report
The FACT.MR’s market research report provides in-depth insights into the Art Supplies market. The market is scrutinized based on product type (pencils and accessories [graphite pencils, erasers, sharpeners, mechanical, pencils, and pencil leads], writing pens [fineliners, ballpoint pens, rollerballs, and refills], coloring products [color pencils, fiber tip pens, fineliners, crayons, chalks, and oil pastels, and paints], markers [highlighters, universal pens, whiteboard markers, flipchart markers, and dry markers), and other art supplies), end user (institutional [schools, colleges, ad other industries, offices, and other commercial institutions] and household), and sales channel (stationery stores, department stores, supermarkets/hypermarkets, online sales, and other sales channel), across five major regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA)).
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The article discusses the impact of virtual technologies on enhancing online shopping and boosting the art supplies market.
COVID-19 has negatively impacted offline sales but is driving an increase in online shopping for art supplies.
North America is the leading region in the art supplies market, followed by East Asia.
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