Art Supplies Market Size to Surpass USD 26.4 Bn in value by 2033 | CAGR of 3.2%

The global art supplies market size was valued at USD 19.2 Bn in 2023 and is expected to reach USD 26.4 Bn by 2033, growing at a CAGR of 3.2%.

NEW YORK CITY, NEW YORK, UNITED STATES, April 3, 2023 /EINPresswire.com/ -- Market Overview:

The art supplies market refers to the industry that produces and sells art materials such as paints, brushes, canvas, sketchbooks, and other accessories. The market is driven by the growing popularity of art and craft activities among people of all age groups, increasing disposable income, and the rising demand for premium quality art materials. The market is also influenced by the growing trend of do-it-yourself (DIY) projects, which has gained momentum due to the COVID-19 pandemic.

Key Statistics:

The global art supplies market size was valued at USD 19.2 Bn in 2023 and is expected to reach USD 26.4 Bn by 2033, growing at a CAGR of 3.2% during the forecast period (2023-2033).

The paints and colors segment is expected to dominate the market, accounting for more than 30% of the market share in 2028.

The online sales channel is expected to witness significant growth during the forecast period due to the increasing popularity of e-commerce platforms.

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Art Supplies Market Scope:

By type, the market is segmented into Pencils, Pens, Colours, highlighters, and markers. By application, the market is divided into Schools, Home and Hobby, Offices, and Independent Professionals.

Based on geography, the market is analyzed across North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. North America is currently the largest market for art supplies, followed by Europe and Asia Pacific. However, the Asia Pacific region is expected to witness the fastest growth during the forecast period due to the increasing adoption of art and craft activities among people in the region.

Major players profiled in the report include Faber-Castell, Kokuyo Camlin, F.I.L.A Group, Societe BIC, Hallmark Cards (Crayola), Maped, Staedtler Mars, Pentel, Pilot, Newell Brands, Pelikan, Mitsubishi Pencil, and Linc Pen & Plastics.

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Demand Analysis:

The growing popularity of art and craft activities, coupled with the increasing disposable income of people, is driving the demand for art supplies globally. The market is also influenced by the growing trend of DIY projects, which has gained momentum due to the COVID-19 pandemic. The increasing focus on art education in schools and colleges is also expected to drive the demand for art supplies in the coming years.

Top Key Trends:

The growing popularity of eco-friendly art supplies
Increasing demand for premium quality art materials
The growing trend of online sales channels
Rising adoption of art and craft activities among children

Top Impacting Factors:

Growing popularity of art and craft activities among people of all age groups
Increasing disposable income of people
Growing trend of DIY projects
Increasing focus on art education in schools and colleges

Key Benefits for Stakeholders:

The report provides a comprehensive analysis of the global art supplies market along with the current trends and future estimations to elucidate the imminent investment pockets.
The information about the key drivers, restraints, opportunities, and their impact analysis on the market size is provided in the report.
Porter's five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
A quantitative analysis of the market from 2021 to 2028 is provided to highlight the market potential.

if you need a more focused analysis of a particular region or segment, our analysts can customize the report to meet your specific requirements. Feel free to contact us for further assistance @ inquiry@market.us

Market Dynamics

Drivers:

Growing popularity of art and craft activities
Increasing the disposable income of people
Rising demand for premium quality art materials
The growing trend of DIY projects

Restraints:

Availability of counterfeit products
High cost of premium art materials
Lack of awareness in developing countries

Opportunities:

The growing trend of e-commerce platforms
Increasing focus on art education in schools and colleges
The growing popularity of eco-friendly art supplies

Challenges:

Availability of low-cost substitutes
Intense competition among market players

Key Market Segments
Type

Pencil
Pen
Colours
Highlighter
Marker

Application

School
Home and Hobby
Offices
Independent Professionals

Key Market Players included in the report:

Faber-Castell
Kokuyo Camlin
F.I.L.A Group
Societe BIC
Hallmark Cards (Crayola)
Maped
Staedtler Mars
Pentel
Pilot
Newell Brands
Pelikan
Mitsubishi Pencil
Linc Pen & Plastics

Recent Development:

In December 2020, Winsor & Newton launched a new range of watercolor paint sets.
In January 2021, Faber-Castell launched a new line of eco-friendly pencils made from natural and sustainable materials.
In March 2021, Daler Rowney launched a new range of professional-grade acrylic paints.

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