The washable markers market size is projected to grow from USD 425.5 million in 2018 to USD 507.0 million by 2023, at a CAGR of 3.57%
LONDON, Oct. 24, 2018 /PRNewswire/ -- Increasing demand from children to drive the washable markers market
The washable markers market size is projected to grow from USD 425.5 million in 2018 to USD 507.0 million by 2023, at a CAGR of 3.57%. Washable markers are one of the fastest-growing types of writing instruments and are expected to gain widespread popularity in the coming years. Teachers and parents do not need to worry about stained clothing or walls when children work with washable markers. The washable markers market is expected to witness significant growth in the future because of their ever-increasing popularity and their benefits and uses in the education industry. Increase in the number of school-going children coupled with a rise in the disposable income of households eventually drives the growth of the washable markers market. However, the washable markers market is threatened by the increase in shift toward e-learning and digital platforms.
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By end user, the children segment is estimated to hold the largest share of the washable markers market in 2018
The children segment accounted for the largest market in 2018.The growth and high demand for washable markers among children can be attributed to the fact that marks from washable markers can be easily removed from clothes, skin, and walls just by wiping a wet sponge across the surface.
Since washable markers do not permanently stain a surface, they are perfect for home and classroom use. Moreover, washable markers are also non-toxic, and thus they are ideal choices for use by children
The Asia Pacific region is set to witness healthy growth during the forecast period
The Asia Pacific market is projected to be the fastest-growing market during the forecast period.The global players, to improve their presence in this region, have started expanding their businesses.
The standard of living is improving in this region, which, in turn, fuels the per-capita spending on education and on creative expression products.Countries considered under the Asia Pacific region for the study of washable markers include China, Japan, Australia, and the Rest of Asia Pacific, which includes India, South Korea, Vietnam, Singapore, and Malaysia.
The rising demand for writing instruments such as washable markers in corporate offices is expected to boost the growth of the washable markers market in the Asia Pacific region.
Breakdown of Primaries
Primary interviews were conducted with a number of industry experts to collect data related to different aspects of the washable markers market.Estimates reached after analyzing secondary sources were validated through these interviews.
Primary sources included professionals such as washable marker manufacturers, distributors, consultants, and academic professionals. The distribution of primary interviews is as follows:
• By Company Type: Tier 1 –30%, Tier 2 – 35%, Tier 3 – 35%
• By Designation: Director level– 61%, Managerial Level – 39%
By Region: Europe– 51%, North America– 21%, Middle East & Africa– 15%, Asia Pacific –8%, South America – 5%
Note: The tier of the companies is defined on the basis of their total revenue, as of 2017.
Tier 1: Revenue > USD 1 billion
Tier 2: USD 500 million > Revenue > USD 1 billion
Tier 3: Revenue < USD 500 million
The key washable markers providers profiled in the report are as follows:
• Crayola LLC (US)
• Faber-Castell (Germany)
• F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A (Italy)
• BIC Group (France)
• Newell Brands (US)
• Carioca S.p.a (US)
• Liqui-Mark (US)
• Stabilo International GMBH (Germany)
• Dri Mark Products Inc. (US)
• Luxor Group (India)
This report will help the market leaders/new entrants in this market in the following ways:
• This report segments the washable markers market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across different verticals and regions.
• This report helps stakeholders to understand the market and provides them with information on the key market drivers, restraints, challenges, and opportunities.
• This report will help stakeholders to understand their competitors better and gain more insights into their position in the business. The competitive landscape section includes the competitor ecosystem, new product developments, agreements, partnerships & joint ventures, and mergers & acquisitions.
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