Back To School Industry Overview
The global back to school market size was valued at USD 171.8 billion in 2021 and is expected to advance at a compound annual growth rate (CAGR) of 5.2% from 2022 to 2028.
The global market growth is driven by developments in the digital area and retail sector. Increasing retailing of school stationery and supplies through online distribution channels is boosting the global market growth during the forecast years. Improvements of the online payment gateways with secure encryption allow easy and fast availability to consumers, propelling market growth. The market is also driven by the increasing spending on stationery and supplies by parents for their children in developing countries, including, India, China, Brazil, South Africa, and others.
Gather more insights about the market drivers, restrains and growth of the Global Back To School Market
The COVID-19 pandemic slightly impacted the sales of the school products during the initial months. During the peak months of the new school terms, spending on school supplies increased. According to the National Retail Federation, in 2021, families spent USD 59 more compared to 2020. Over the forecast period, the market is expected to experience healthy and steady growth, as the world is returning to normalcy, and schools again are shifting from online to offline mode. The market growth is also fueled by developments in brick-and-mortar retail sectors. Due to rapid industrialization and urbanization, shopping malls, department stores, and specialty stores are expanding to new regions, supporting the market growth. Global market growth is restrained by the growth in the use of electronic products replacing the use of writing and reading supplies, such as notebooks, pens, and pencils.
The growth in the smart classroom and green school programs that work on the idea of global sustainability, recycling, and reducing waste are expected to decrease the demand for some stationery supplies. E-commerce or online channels are expected to offer many growth opportunities to the market players. Given the trend of increasing dependency on online transactions and digital technology due to the convenience and ease of operation, the back-to-school market is also anticipated to profit from the online distribution channel. Key players are entering and expanding their presence in the e-commerce sector.
For instance, Inchpaper, an e-commerce company founded in June 2020, started a home-delivery service for stationery products, as published in September 2020. The company is based in Haryana, India, and delivers its products in over 50 cities and towns in the country. Product innovations and launches are anticipated to boost the market growth during the forecast period. Key players are focusing on innovations to upgrade and enhance the quality and functionality of the school essentials. This attracts more customers and encourages consumer spending, driving revenue generation. For instance, as reported in October 2020, Cello Group was planning to re-enter the stationery market with the launch of a small portfolio in the domestic market.
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Market Share Insights
- March 2021: The Stationery Store launched an online website.
- December 2020: Acco Brands Corp. acquired PowerA, a leading provider of charging solutions and headsets.
- October 2020: Cello Group was planning to re-enter the stationery market with the launch of a small portfolio in the domestic market.
Key Companies profiled:
Some prominent players in the global back to school market include
- The ODP Corp.
- com, Inc.
- Acco Brands Corp.
- Staples Inc.
- Apple Inc.
- Faber Castell AG
- Newell Brands Inc.
- ITC Ltd.
- Tommy Hilfiger B.V.
- Mitsubishi Pencil Co. Ltd.
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