Back-to-school Market Expected to Reach $131.1 billion by 2030-Allied Market Research

According to a new report published by Allied Market Research, titled, “Back-to-school Market by Product Type and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021–2030,” The global back-to-school market was valued at $66.1 billion in 2020, and is projected reach $131.1 billion by 2030, registering a CAGR of 4.8% from 2021 to 2030. The stationary segment dominatedin terms of market share in 2020, and is expected to retain its dominance throughout the forecast period.

Online sales channel or e-commerce is an emerging and one of the most prominent sales channels in the retail sector at present. Many key players and their brands have now shiftedtheir preference toward omni channel approach to strengthen their presence in the market. The online sales of school supplies has increased amidst the COVID-19 pandemic. This is attributed to the change in consumer buying behavior and their requirements, which is likely to foster the online retail sales in the future, due to ease of selecting, purchasing, and getting doorstep delivery.

Another benefit of online sales channels is the elimination of geographic boundaries. This convenience and increase in the available options to choose from are attracting customers toward online channels, which is expected to serve as a lucrative opportunity for market expansion.

However, the market faces some restraints as many stationery items have small movable and removable parts, which may cause choking and may have toxic ingredientsthat may result in health issues among kids and children. Moreover, younger generation that goes to preschools and playschools is prone to put small objects in mouth or nose. These objects if swallowed accidentally can get stuck in the child’s throat and may result in choking. For instance, almost all mechanical pencils come with small erasers attached on the back that can be easily removed, which is a point of concern.

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.

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.

The global back-to-school market is segmented into product type, distribution channel, and region. 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. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Asia-Pacific is the largest back-to-school market in the world, and is growing at the fastest rate, owing to improvements in living standards, exponential increase inpopulation with majority of youth, rise in disposable income, and development of the education industry.

Key Findings 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 sales 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.
• Asia-Pacific leads in terms of market share, and is anticipated to exhibit highest CAGR during the forecast period
• The price of products is less susceptible to volatility, and is likely to witness gradual growth in the coming years.

The key players profiled for in the global back-to-school market analysis include 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, and Zebra Pen Corp. Other prominent players analyzed in the report are Faber-Castell, Nike, Skybags., Izod, Staedtler., Canson, Adidas, Puma and Wildcraft