According to a market research by Infinity Research Limited, the size of European office stationery market size will grow by $2. 79 billion during the 2020-2024 forecast period. The market also has the potential to accelerate at a CAGR of 1%. The report provides an in-depth analysis of stationery products’ market, distribution channel (online and offline), key vendors and geography (the UK, France, Germany, Italy and the rest of Europe).
Apart from the $2.79 billion growth for the period 2019-2020, the report predicts that 28% of the growth will be from Germany and provides a year-over-year growth rate for the five years. The analysis is focused on the current European market situation, the latest trends in the market and key drivers and the overall market environment.
Key Drivers and Trends
The forecasted primary drivers of the European stationery market are innovation and technological advancements of the product and the increasing number of offices in the region. In addition to the functional innovations, competitors in the stationery market are now leveraging technological innovations in their products.
Some of the innovations witnessed in the market include 3D printers, multifunctional permanent markets, LaserJet printers and many more.
The increasing corporate profits from the service industries in Europe and other industries are also significant contributors to growth in the forecast period. The rise of business parks and technology parks and the emerging business districts in the region will contribute significantly to the growth both directly and indirectly.
The analysis includes product segment, geographical landscapes and distribution channel segment.
Segmentation by Geography
Germany was the market leader in 2019 and will continue offering growth opportunities to vendors during the forecast period. Most countries’ market growth will be primarily due to the development of new branches and new offices during the period.
The analysis predicts that 28% of the stationery market’s growth during the forecast period will originate from Germany. However, the market growth in Germany will be slower than the growth in Italy, the UK and France.
Market Segmentation by Product
This segmentation consists of:
- Paper products
- Computer and Printer supplies
- Desk supplies
- Mailing supplies
There is a huge market for paper-based stationery in Europe since they are the basic stationery used in offices. Some of the most used paper-based office stationery includes coloured paper, notes, fax paper, spiral notes, phone message pads, writing pads, etc.
The demand for printer accessories may also increase due to the increasing automation of office work.
The others segment contains supporting office stationery like box files, document wallets and many more.
Segmentation by Distribution Channel
The distribution channels in Europe are classified as either online or offline.
Segmentation by Geographical Landscapes
The five geographical segments in the analysis are Germany, France, the UK, Italy and the rest of Europe.
Companies can use this analysis to develop strategies to take advantage of future growth opportunities. Anyone can use it because it brings a detailed picture of the market through study, synthesis, and data summation from different sources.