The global pencil market size valued USD 13,393.9 million in 2021 and expected to reach USD 22,512.1 million by 2028, at a CAGR of 7.7% during the forecast period 2022-2028. Due to technological advancements in the pencil, development of more ecofriendly pencils. Moreover, increasing popularity of attractive and customized products among the consumers is also driving the growth of the global pencil market in the forecast period. Most of the other stationary products like pen and markers are made of plastic which is not biodegradable, however, pencils are made from wood which is completely biodegradable and don’t contribute to environmental pollution. This report studies global market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, the global market report includes competition investigation study with intensely illustrated the competition dashboard to measure the market competition. Moreover, PBI analyzed the global market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities).
Recent Market Developments:
In November 2020, Colegium, a Chilean edtech, acquired Pencil, a Colombian startup for kindergarten and preschool education to offer increased services to parents and teachers of preschool and kindergarten-aged children. In June 2021, Derwent launched Chromaflow colour pencils, formulated with rich pigments to deliver a bold, vibrant laydown at an affordable price in sets of 12 and 24.