Asia Pacific Luxury Pens Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Ball Point Pens, Fountain Pens, Roller Ball Pens, Multifunctional Pens, and Others) and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, and Online Retail and Others)
Market Introduction
The Asia Pacific luxury pens market is a highly fragmented market with the presence of considerable regional and local players providing numerous solutions for companies investing in the market arena. A luxury pen is a type of premium product, which possesses unique features and is customizable as per customer preferences. Such pens are designed to provide better quality and comfort, along with adding to royalty as an added aesthetic. The demand for luxury pens is rising with the shift in lifestyle patterns backed by the rise in disposable income in the developed countries. At present, owning a luxury pen is considered a status symbol, especially among the elite class. Additionally, the look and attractiveness associated with a luxury pen help to convey a royal appeal. Companies specializing in luxury pens are focused on luring people with their designer finish and high-end quality. In the current era, the focus has been shifted toward authenticity mixed with craftsmanship, which is effectively promoting the demand for luxury pens. The operating players can connect with the emotion attached to luxury pens and have effectively placed their product to capture particular consumer demand. This is expected to proliferate the growth of the luxury pens market.
In Asia Pacific, India has reported a huge number of COVID-19 cases, which led to the discontinuation of several business operations, including luxury pens manufacturing. The shuttering of office, schools, and colleges during the pandemic period, along with significant fall in the production of luxury stationery items, has severely impacted the demand for luxury pens in Asia Pacific. However, as the economies are planning to revive their operations, the demand for luxury pens is expected to rise in the region. However, the focus over just-in-time production is another concerning factor hindering the market growth. In addition to the increasing literacy rates in emerging countries, the growing prominence of luxury fountain pens and significant investment by prominent manufacturers in new product launch would continue to boost the growth for the luxury pens market in Asia Pacific in the coming years.
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Market Overview and Dynamics
The luxury pens market in Asia Pacific is expected to grow from US$ 715.00 million in 2021 to US$ 996.03 million by 2028; it is estimated to grow at a CAGR of 4.8% from 2021 to 2028. A luxury pen is considered as one of the precious timeless gifts to commemorate a special occasion. For instance, a luxury pen act as a memorable graduation gift or a royal signature tool for a person and can also act as a status symbol in an office. A fancy pen helps to convey a sense of professionalism and promotes a person’s confidence. At present, business firms are investing in personalized luxury pens to gift to their business partners and employees. Additionally, they are among the preferred giveaway items at trade shows, corporate events, seminars, and conferences. Gifting a luxury pen to employees as a way to acknowledge their accomplishments is gaining prominence in the corporate environment. For instance, gifting a premium executive pen to employees who have been associated with the company for a longer period or to the person who outperforms their targets, helps to promote employee motivation. In some instances, companies tend to provide customized luxury pens, which are finely inscribed and personalized with a particular logo, name, or text. This inculcates a sense of professionalism and helps to win employee loyalty. Additionally, luxury pens are often considered as preferred as gift items and are, nowadays, perceived as fashion accessories, similar to high-priced watches. Similarly, several companies are following the ongoing trend of gifting such pens to their employees. For instance, Newell Rubbermaid and Jarden merged in December 2016 to promote luxury writing. Following the merger, the company strategically entered into an agreement with its fine writing brands such as Parker and Waterman to provide luxury pens as graduation gifts. Hence, it is quite evitable that the demand for luxury pens is rising for gifting purposes and is expected to create lucrative growth opportunities for the market.
Key Market Segments
Based on product type, the ball point pens luxury pens segment accounted for the largest share of the Asia Pacific luxury pens market in 2020. Based on distribution specialty stores segment accounted for the largest share of the Asia Pacific luxury pens market in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the Asia Pacific luxury pens market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report include A. T. Cross Co. LLC; Faber-Castell; Grayson Tighe; Hugo Boss; Montblanc International; Fisher Space Pen; Bentley Motors; Parker; and Waterman.
Reasons to buy report
- To understand the Asia Pacific luxury pens market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for Asia Pacific luxury pens market
- Efficiently plan M&A and partnership deals in Asia Pacific luxury pens market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form Asia Pacific luxury pens market
- Obtain market revenue forecast for market by various segments from 2019-2028 in Asia Pacific region.
Asia Pacific Luxury Pens Market Segmentation
Asia Pacific Luxury Pens Market -By Product Type
- Ball Point Pens
- Fountain Pens
- Roller Ball Pens
- Multifunctional Pens
- Others
Asia Pacific Luxury Pens Market -By Distribution Channel
- Supermarkets and Hypermarkets
- Specialty Stores
- Online Retail
- Others
Asia Pacific Luxury Pens Market – By Country
- Australia
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
Asia Pacific Luxury Pens Market – Company Profiles
- A. T. Cross Co. LLC.
- Faber-Castell
- Grayson Tighe
- HUGO BOSS
- Montblanc International
- Fisher Space Pen
- Bentley Motors
- Parker
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis formulation:
3.2.4 Macro-economic factor analysis:
3.2.5 Developing base number:
3.2.6 Data Triangulation:
3.2.7 Country level data:
3.2.8 Assumptions:
4. Asia Pacific Luxury Pens Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.3 Expert Opinions
5. Luxury Pens Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Shift in the Preference of Customers Towards Luxury Writing Products
5.1.2 Increase in Brand Consciousness Related to Luxury Pens
5.2 Market Restraints
5.2.1 Rise in Focus on Digitization along with High Costs of Operations
5.3 Market Opportunities
5.3.1 An Upsurge in the Demand for Luxury Pens for Gifting Purposes
5.4 Future Trends
5.4.1 Incrementing Investments for Product Innovation and Development
5.5 Impact Analysis of Drivers and Restraints
6. Luxury Pens – Asia Pacific Market Analysis
6.1 Luxury Pens Market Overview
6.2 Luxury Pens Market –Revenue and Forecast to 2028 (US$ Million)
7. Asia Pacific Luxury Pen Market Analysis – By Product Type
7.1 Overview
7.2 Asia Pacific Luxury Pen Market Breakdown, by Product Type, 2020 & 2028
7.3 Ball Point Pens
7.3.1 Overview
7.3.2 Ball Point Pens: Luxury Pens Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Fountain Pens
7.4.1 Overview
7.4.2 Fountain Pens: Luxury Pens Market – Revenue and Forecast to 2028 (US$ Million)
7.5 Roller Ball Pens
7.5.1 Overview
7.5.2 Roller Ball Pens: Luxury Pens Market – Revenue and Forecast to 2028 (US$ Million)
7.6 Multifunctional Pens and Others
7.6.1 Overview
7.6.2 Multifunctional Pens and Others: Luxury Pens Market – Revenue and Forecast to 2028 (US$ Million)
8. Asia Pacific Luxury Pen Market Analysis – By Distribution Channel
8.1 Overview
8.2 Asia Pacific Luxury Pen Market Breakdown, by Distribution Channel, 2020 & 2028
8.3 Supermarkets and Hypermarkets
8.3.1 Overview
8.3.2 Supermarkets and Hypermarkets: Luxury Pens Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Specialty Stores
8.4.1 Overview
8.4.2 Specialty Stores: Luxury Pens Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Online Retail and Others
8.5.1 Overview
8.5.2 Online Retail and Others: Luxury Pens Market – Revenue and Forecast to 2028 (US$ Million)
9. Asia Pacific Luxury Pens Market – Country Analysis
9.1 Asia Pacific: Luxury Pens Market
9.1.1 Asia Pacific: Luxury Pens Market, by Key Country
9.1.1.1 India: Luxury Pens Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.1.1 India: Luxury Pens Market, by Product Type
9.1.1.1.2 India: Luxury Pens Market, by Distribution Channel
9.1.1.2 Australia: Luxury Pens Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.2.1 Australia: Luxury Pens Market, by Product Type
9.1.1.2.2 Australia: Luxury Pens Market, by Distribution Channel
9.1.1.3 China: Luxury Pens Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.3.1 China: Luxury Pens Market, by Product Type
9.1.1.3.2 China: Luxury Pens Market, by Distribution Channel
9.1.1.4 Japan: Luxury Pens Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.4.1 Japan: Luxury Pens Market, by Product Type
9.1.1.4.2 Japan: Luxury Pens Market, by Distribution Channel
9.1.1.5 South Korea: Luxury Pens Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.5.1 South Korea: Luxury Pens Market, by Product Type
9.1.1.5.2 South Korea: Luxury Pens Market, by Distribution Channel
9.1.1.6 Rest of Asia Pacific: Luxury Pens Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.6.1 Rest of Asia Pacific: Luxury Pens Market, by Product Type
9.1.1.6.2 Rest of Asia Pacific: Luxury Pens Market, by Distribution Channel
10. Overview – Impact of COVID-19 on Asia Pacific Luxury Pens Market
10.1 Impact of COVID-19 on Luxury Pens Market
10.2 Asia-Pacific: Impact Assessment of COVID-19 Pandemic
11. Company Profiles
11.1 A. T. Cross Co. LLC.
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Faber-Castell
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Grayson Tighe
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 HUGO BOSS
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Montblanc International
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 Fisher Space Pen
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 Bentley Motors
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 Parker
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 Waterman
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 GlossaryLIST OF TABLES
Table 1. Asia Pacific: Luxury Pens Market –Revenue and Forecast to 2028 (US$ Million)
Table 2. India Luxury Pen Market, by Product Type – Revenue and Forecast to 2028 (USD Million)
Table 3. India Luxury Pen Market, by Distribution Channel – Revenue and Forecast to 2028 (USD Million)
Table 4. Australia Luxury Pen Market, by Product Type – Revenue and Forecast to 2028 (USD Million)
Table 5. Australia Luxury Pen Market, by Distribution Channel – Revenue and Forecast to 2028 (USD Million)
Table 6. China Luxury Pen Market, by Product Type – Revenue and Forecast to 2028 (USD Million)
Table 7. China Luxury Pen Market, by Distribution Channel – Revenue and Forecast to 2028 (USD Million)
Table 8. Japan Luxury Pen Market, by Product Type – Revenue and Forecast to 2028 (USD Million)
Table 9. Japan Luxury Pen Market, by Distribution Channel – Revenue and Forecast to 2028 (USD Million)
Table 10. South Korea Luxury Pen Market, by Product Type – Revenue and Forecast to 2028 (USD Million)
Table 11. South Korea Luxury Pen Market, by Distribution Channel – Revenue and Forecast to 2028 (USD Million)
Table 12. Rest of Asia Pacific Luxury Pen Market, by Product Type – Revenue and Forecast to 2028 (USD Million)
Table 13. Rest of Asia Pacific Luxury Pen Market, by Distribution Channel – Revenue and Forecast to 2028 (USD Million)
Table 14. Glossary of Terms, Asia Pacific Luxury Pens MarketLIST OF FIGURES
Figure 1. Luxury Pens Market Segmentation
Figure 2. Luxury Pens Market Segmentation – By Country
Figure 3. Asia Pacific Luxury Pens Market Overview
Figure 4. Ball Point Pens Segment is Dominating the Asia Pacific Luxury Pens Market
Figure 5. China Held Largest Share of Asia Pacific Luxury Pens Market
Figure 6. Asia Pacific Luxury Pens Market, Industry Landscape
Figure 7. Asia Pacific: PEST Analysis
Figure 8. Expert Opinion
Figure 9. Luxury Pens Market Impact Analysis of Drivers and Restraints
Figure 10. Asia Pacific: Luxury Pens Market – Revenue and Forecast to 2028 (US$ Million)
Figure 11. Asia Pacific Luxury Pen Market Breakdown, by Product Type, 2020 & 2028
Figure 12. Ball Point Pens: Luxury Pens Market – Revenue and Forecast to 2028 (US$ Million)
Figure 13. Fountain Pens: Luxury Pens Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. Roller Ball Pens: Luxury Pens Market – Revenue and Forecast to 2028 (US$ Million)
Figure 15. Multifunctional Pens and Others: Luxury Pens Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. Asia Pacific Luxury Pen Market Breakdown, by Distribution Channel, 2020 & 2028
Figure 17. Supermarkets and Hypermarkets: Luxury Pens Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. Specialty Stores: Luxury Pens Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. Online Retail and Others: Luxury Pens Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. Asia Pacific: Luxury Pens Market, by Key Country – Revenue (2020) (USD Million)
Figure 21. Asia Pacific: Luxury Pens Market Revenue Share, by Key Country (2020 and 2028)
Figure 22. India: Luxury Pens Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. Australia: Luxury Pens Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. China: Luxury Pens Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. Japan: Luxury Pens Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. South Korea: Luxury Pens Market – Revenue and Forecast to 2028 (US$ Million)
Figure 27. Rest of Asia Pacific: Luxury Pens Market – Revenue and Forecast to 2028 (US$ Million)
Figure 28. Impact of COVID-19 Pandemic in Asia-Pacific- A. T. Cross Co. LLC.
- Faber-Castell
- Grayson Tighe
- HUGO BOSS
- Montblanc International
- Fisher Space Pen
- Bentley Motors
- Parker
- Waterman
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Asia Pacific luxury pens market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the Asia Pacific luxury pens market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the Asia Pacific luxury pens market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution