Asia-Pacific Back-to-school Market
Asia-Pacific Back-to-school Market by Product Type, and Sales Channel: Opportunity Analysis and Industry Forecast, 2021–2030
COVID-19 has resulted in widespread disruption of the market. smart learning classes has reduced the usage of art supplies and related products, thus hampering the growth of the back-to-school market.”
— Shankar Bhandalkar
PORTLAND, OREGON, UNITED STATES, September 9, 2021 /EINPresswire.com/ — According to a new report, The Asia-Pacific back to school market was valued at $26.3 billion in 2020, and is projected reach $58.2 billion by 2030, registering a CAGR of 6.0% from 2021 to 2030.
Most of the countries in Asia-Pacific are in their developing phase. To progress, the youth of these countries need to be educated to contribute to the development process. Thus, the governments of various countries in the region are emphasizing on primary education and education initiatives to increase the literacy rate. However, major portion population in the region still lives in rural areas with no schools or sources of education present in the region. To overcome this challenge, governments are spending significant amount of money and resources on the development of educational infrastructure in such areas with a focus on education and skill development.
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Many stationery items have small movable and removable parts, which might cause choking and may have toxic ingredients that can be hazardous for young kids. Smaller kids that go to preschools and playschools are prone to put small objects in their mouth. These objects if swallowed accidentally can lodge in the child’s throat and cause choking. For instance, almost all mechanical pencils come with small erasers attached on the back that can be easily removed. These erasers are a serious choking hazard for younger kids. On the similar lines, many low-quality crayons, colors, paints, and erasers are made from chemicals that can be toxic and can cause serious harm to children. With lenient government policies and unregulated nature of market, these low-quality products are easily available in the market, which serves as a key deterrent factor for the expansion of the back to school market in Asia-Pacific.
Moreover, many NGOs are aiding these government endeavors by providing children with school supplies to facilitate education. These efforts put in by the government and by NGOs to promote education in the region are anticipated to foster the demand for back-to-school supplies, thus contributing toward the market growth.
Engaged stakeholders in the back-to-school industry use a wide variety of marketing strategies to increase their product penetration among consumers. These strategies include celebrity endorsements, organizing events, and social media marketing.
Furthermore, leading players in the industry are now heavily investing in digital platforms to market their products, which drives the market growth. Thus, adoption of new marketing strategies and increased demand for back to school supplies are anticipated to open new growth avenues for the market.
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The Asia-Pacific back to school market is segmented into product type, distribution channel, and country. Depending on product type, the market is fragmented into backpack, electronic, stationery, clothing, shoes, and others. On the basis of distribution channel, it is segregated into hypermarket/supermarket, e-commerce, dollar stores, specialty stores, and others. Country wise, the market is analyzed across China, India, Japan, Australia, South Korea, Indonesia, Malaysia, Singapore, Vietnam, and rest of Asia-Pacific.
Key Market Players Profiled In The Report:
○ Acco Brands
○ Adidas AG
○ Harlequin International Group Pty Ltd.
○ ITC Limited
○ Kokuyo Camlin Ltd.
○ Mitsubishi Pencil Co. Ltd.
○ Pelikan International Corporation Berhad
○ Puma Se
○ Wh Smith Plc
○ Zebra Pen Corp.
Other prominent players analyzed in the report are Faber-Castell, Nike, Skybags., Izod, Staedtler., Canson, and Wildcraft.
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Key Finding of the study:
○ Depending on the product type, the stationery segment accounted for the highest market share in 2020, and is poised to grow with highest CAGR during the forecast period.
○ By distribution channel, the maximum of back to school supplies were observed from the specialty stores segment in 2020, while the e-commerce segment is expected to witness highest growth during the forecast period.
○ China leads in terms of market share, and is anticipated to exhibit significant CAGR during the forecast period.
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Source: EIN Presswire