Back-to-School Market Revenue To Hit $131.1 Billion by 2030 | Allied Market Research

Back To School Market

Back To School Market

PORTLAND, OREGON, UNITED STATES, July 12, 2022 /EINPresswire.com/ -- Allied Market Research published a report, titled, “Back-to-school Market by Product Type, (Backpack, Electronic, Stationery, Clothing, Shoes, and Others) and Sales Channel (Hypermarket/Supermarket, E-commerce, Dollar Stores, Specialty Stores, and Others): Opportunity Analysis and Industry Forecast, 2021–2030.” According to the report, the global back-to-school industry garnered $66.16 billion in 2020, and is projected to reach $131.18 billion by 2030, witnessing a CAGR of 4.8% from 2021 to 2030.

The Asia-Pacific region, which is the largest and fastest-growing on the planet, has seen a rise in literacy rates specifically in this decade. The region is also expanding in terms of online sales channels, which are quickly becoming one of the dominant sales channels in the retail industry. Now, a lot of brands are moving toward an omni channel market strategy. The COVID-19 pandemic has led to a rise in the sale of school supplies online. Future customer behaviour is predicted to continue shifting toward online shopping, which is anticipated to support industry expansion.

The global acceptance of digital technologies during the pandemic, according to CXO, has caused the education system to advance with the merger of an offline and online education system. For the approaching years, universities intend to keep up with their digital transformations and workshopping as innovative methods of instruction. Additionally, the use of books is forecast to decline while student adoption of digital tools like the Kindle is anticipated to increase. This is explained by the fact that the Kindle itself has a number of benefits, which have increased usage. Along with being paperless, the Kindle also provides free books, discounted books, a dictionary, translations, electronic markers, large print, and a search feature.

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Key Take Away
The Stationery segment dominates the global back to school market and is expected to retain its dominance throughout the forecast period.
The Hypermarket/Supermarket segment dominates the global back to school market and is expected to retain its dominance throughout the forecast period.
The Asia-Pacific segment dominates the global back to school market and is expected to retain its dominance throughout the forecast period.
The price of products is less susceptible to volatility, and is likely to witness gradual growth in the coming years.

Based on type, the stationery segment contributed to the highest share in 2020, accounting for more than two-fifths of the global back-to-school market, and is projected to continue its leadership status during the forecast period. Moreover, this segment is estimated to manifest the highest CAGR of 6.5% from 2021 to 2030. This is attributed to necessity of various stationary products such as pens, pencils, rulers, sharpeners, color pencils, and notebooks across the globe. The report analyzes the segments including bag pack, electronic, clothing, shoes, and others.

The hypermarket/supermarket segment to maintain its dominant share during the forecast period

Based on distribution channel, the hypermarket/supermarket segment contributed to the largest share in 2020, accounted for nearly two-fifths of the global back-to-school market, and is estimated to maintain its dominant share during the forecast period. This is due to availability of broad variety of products under a single roof and ample availability of parking space and convenient operation timings. However, the e-commerce segment is projected to portray the fastest CAGR of 6.0% from 2021 to 2030. This is due to ease in availability, benefits such as information about the attributes of the products, time-saving features, and facility of home delivery provided by online platforms.

Asia-Pacific, followed by Europe and North America, to maintain its lead position by 2030

Based on region, Asia-Pacific, followed by Europe and North America, accounted for the highest market share in 2020, contributing to around two-fifths of the global back-to-school market, and is estimated to maintain its lead position by 2030. Moreover, this region is expected to register the largest CAGR of 6.0% during the forecast period. This is due to huge consumer base and massive opportunities for growth.

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Leading market players

Acco Brands
Faber-Castell
Harlequin International Group Pty Ltd.
ITC Limited
Mitsubishi Pencil Co., Ltd.
Pelikan International Corporation Berhad
Schwan stabilo group
Staedetler
Wh Smith Plc
Zebra Pen Corp.
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