Asia Pacific backtoschool market was worth USD 271 Billion in 2020 and is further projected to reach USD 407 Billion by 2027 at a CAGR of 60 during 20212027 forecast period ID: 902029
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Asia Pacific Back-to-School Market, Industry Size, Share, Trend Analysis, Outlook, Growth, Opportunity and Forecast, 2021-2027
Slide2Asia Pacific Back-to-School Market- Industry Trends & Forecast Report 2027
A study, recently conducted by the strategic consulting and market research firm
BlueWeave Consulting, revealed that Asia Pacific back-to-school market was worth USD 27.1 Billion in the year 2020. According to the study, the market is estimated to grow at the CAGR of 6.0%, earning revenue of around USD 40.7 Billion by the end of 2027. 'Back to school' refers to the time when students and their parents buy school supplies and apparel for the upcoming school year. The introduction of new back-to-school products, increased government spending, increased emphasis on primary education, elimination of one-child policy by China, and lower infant mortality rates in the region drive the growth of the Asia-Pacific back-to-school market.
Slide3Growth Drivers Government involvementMajor countries in the Asia-Pacific region are in the developing phase. Education of the youth is essential to the development of these regions. Thus, the governments of many APAC countries are focusing on primary education and other education initiatives to boost their literacy rates. However, a large number of the population in the area still lives in rural areas with no schools or education sources present in the region. In the Asia-Pacific region, the governments are spending significant amounts of money and resources on developing educational infrastructure and education sources with an emphasis on education and skill growth
.
Slide4Restraints The biggest challenge facing the Asia-Pacific Back-to-School market is toxic ingredients. Moreover, children may choke on small movable or removable parts in stationery items, posing a choking hazard. There are high chances that small kids that go to preschools and playschools are more likely to put small objects in their mouths. Accidentally swallowing one of these objects can result in choking. Additionally, several low-quality crayons, colors, paints, and erasers contain chemicals that can be toxic for children.
Slide5Impact of COVID-19COVID-19 outbreak began in late 2019, which in early 2020, had spread throughout the world. Major countries announced a complete lockdown since this disease was declared a pandemic. This has resulted in the school and other institution closure. Because classes were shifted online, the demand for clothing, shoes, lunch boxes, water bottles, and arts and crafts supply decreased. A significant setback in the growth of Asia Pacific’s back-to-school market was the closure of schools across the region. As students are taking classes at home and sharing their study materials through the internet, the demand for stationery brands witnessed a slump. Schools were closed periodically for alternate days or a few weeks every month, depending on the severity of COVID-19 cases in a particular region.
Slide6Regional InsightsThe Asia Pacific back-to-school market is segmented into China, India, Japan, Australia, South Korea, Indonesia, Malaysia, Singapore, Vietnam, Rest of Asia-Pacific based on the region. India leads the Asia Pacific back-to-school market among all countries. A rising literacy rate and government spending on education contribute to the enrolment of new students and the demand for stationery, which ultimately contributes to the market's growth. There is intense competition from local unorganized players in the Indian stationery market for low-cost and low-quality products, which is a major obstacle to growth. Some of these players sell products at lower prices by importing goods from China.
Slide7Recent DevelopmentsIn October 2020,
Cello Group re-entered the stationery business after five years. BIC Group acquired Cello Pens, the largest maker of writing instruments in India, for Rs 540
crores in December 2015.Sample Copy of the Report: https://www.blueweaveconsulting.com/report/asia-pacific-back-to-school-market/report-sample
Slide8Competitive landscapeKey players in the Asia Pacific Back-to-School Market are Adidas AG, Harlequin International Group Pty Ltd., Kokuyo Camlin Ltd., ITC Limited, Mitsubishi Pencil Co., Ltd., Zebra Pen Corp.,
Pelikan
International Corporation Berhad, Acco Brands, Puma Se, and Wh Smith Plc. and other manufacturers.
Slide9About Us: Blueweave Consulting offers a one-stop solution for your market intelligence needs for any service or product. You get well-researched comprehensive reports based on qualitative and quantitative data to put your business plan into action. Your well-informed and timely decisions using our reports avert situations of excessive risks and help you grow your business with optimum risk-return trade-off.
Delivering quality insights into several product or service markets within the timeline as per the needs of the clients has earned BWC an excellent reputation among clients. BWC strives to provide timely and accurate digital market intelligence services for making your business endeavors successful.
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