Allied Market Research published a new report, titled, “Art Supplies Market” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
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Growth in trends such as DIY, recycle-reuse-reduce, display of work on social media platforms, personalized art has boosted the sales of art supplies in recent years. Innovation and introduction of new art supplies are anticipated to continue to influence the demand for art supplies in the upcoming years.
The global presence of e-commerce has motivated art supplies manufacturers to sell their products online. This is expected to lead to a surge in the online supply of art materials during the forecast years. Social media influencers these days have become a medium to boost sales by recommending various art supplies to their followers, converting them into potential customers.
Art is said to be “an expression of soul” and this has driven the art and craft business to a great extent. In today’s world, many factors such as growth in DIY trends, innovation in creativity, showcasing one’s creativity on social media platforms such as Instagram, YouTube, Pinterest, etc. have driven the growth of this market.
Customized art supplies are being used by many companies for promotional purposes. Pens, pencils, and markers are used by schools and offices for various purposes and have increased the art supplies. Another major advantage for the suppliers of art materials is the raw material required for its manufacturing is cheap. Low entry barriers and high demand for art supplies have led to its success.
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The Covid-19 pandemic has a vital impact on the growth of the global Art Supplies Market and altered several market scenarios. The lockdown across various countries and ban on international travel has disrupted the supply chain and revenue chain. The report includes a thorough analysis of the Covid-19 pandemic on the growth of the global Art Supplies Market.
Geographically Analysis – North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, and the rest of Europe), Asia-Pacific (China, Japan, India, Australia, Malaysia, Thailand, Indonesia, and the rest of Asia-Pacific), LAMEA (Middle East, Brazil, and the rest of LAMEA)
The key market players profiled in the report include Faber Castell, Linc Pen & Plastic, Maped, Hallmark Cards, Pilot, Newell Brands, Staedtler Mars, Mitsubishi Pencils, Pelikan, and Eaglemoss.
COVID-19 Scenario Analysis:
○ Already the online sales of art supplies are less in comparison to its offline sales and now have almost become negligible amid this pandemic.
○ Major end-users being the educational institutes, students, commercials, are all locked down, which has reduced the sales of art supplies.
○ COVID-19 has affected the growth of art supplies market negatively
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Key Benefits of the Report:
○ This study presents the analytical depiction of the global art supplies industry along with the current trends and future estimations to determine the imminent investment pockets.
○ The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global art supplies market share.
○ The current market is quantitatively analyzed from 2020 to 2030 to highlight the growth scenario of the global art supplies market.
○ Porter’s five forces analysis illustrates the potency of buyers and suppliers in the market.
○ The report provides a detailed global art supplies market analysis based on competitive intensity and how the competition will take shape in coming years.
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