Writing a New Chapter: India’s Surge in the Stationery Industry

The global stationery products market is experiencing substantial growth, with the United States contributing significantly, valued at USD 61.5 billion in CY22. Projections suggest a CAGR of ~3% from CY22 to CY27, reaching a market size of USD 70.9 billion by CY27. China, the world’s second-largest economy, dominates the Asian market with a stationery product market size of USD 53.8 billion in CY22, expected to grow to USD 73.2 billion by CY27 at a CAGR of ~6.4% from 2022 to 2027. India, with a stationery market estimated at USD 4.6 billion in CY22 (FY23), anticipates substantial growth, projecting a CAGR of ~13.6% to reach USD 8.7 billion by CY27.

The Indian stationery and art materials market can be segmented into paper stationery and non-paper stationery, with the latter holding the larger market share by value. Non-paper stationery encompasses writing instruments, office supplies, and arts and crafts, contributing ~58% (~Rs.22,300 crore) to the market. Within non-paper stationery, writing instruments constitute ~60%, office supplies ~21%, and art and craft ~5%. Paper stationery, constituting ~42% (~Rs.16,200 crore) of the market, can be further divided into notebooks and papers, with notebooks holding ~65% and papers ~35%.

Regionally, West India leads the market, representing ~32% by value as of FY23. Other regions like the East, North, and South contribute ~20%, ~23%, and ~25%, respectively.

Forecasting the FY23-28 period, the non-paper stationery category is expected to grow at a CAGR of ~14%, reaching ~Rs.42,900 crore by FY28. Meanwhile, the paper stationery category is projected to grow at a CAGR of ~12%, reaching ~Rs.28,700 crore by FY28.

India, riding on the China +1 phenomenon, presents a significant opportunity in the global stationery market. With its large manufacturing base, favorable production factors, robust business ecosystem, and supportive government policies, India’s stationery exports experienced an impressive annual growth rate of 42% in FY23.

Despite this growth, India’s per capita consumption of stationery by value remains comparatively low, signaling untapped potential. The global average per capita consumption is estimated to be ~US$ 24 in CY22, whereas India’s per capita consumption lags behind countries like Germany, the USA, the UK, and Japan.

To further foster the industry’s growth, the Government of India has implemented policy reforms aimed at developing educational infrastructure and enhancing accessibility to teaching and learning resources. These interventions are expected to contribute significantly to the expansion of the education industry in India.

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