Middle East and Africa 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 Middle East and Africa 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. 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. For instance, in 2015, Krone International developed the Abraham Lincoln pen under its limited edition which aims to capture Lincoln's "genetic essence." The company claimed to use authenticated strands of Lincoln's hair by reproducing Lincoln's DNA and embedding it in the crystallized form, in the amethyst stone of each of the 1,008 pens. Similarly, an article published by Chicago Tribune in January 2016 stated that A.T. Cross Company marketing officer Magnus Jonsson always tucks an A.T. Cross pen between two buttons on his shirt. The pen is embarked with 14-karat-gold and acts as a statement piece to start a conversation. The company states that with the growth of the world economy, the investment would be made in consumers and corporate gifts, which is expected to provide an impetus for the luxury writing instrument category. This is expected to proliferate the growth of the luxury pens market.
In Middle East and Africa, South Africa 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 Middle East and Africa. 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 Middle East and Africa in the coming years.
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Market Overview and Dynamics
The luxury pens market in Middle East and Africa is expected to grow from US$ 145.91 million in 2021 to US$ 198.96 million by 2028; it is estimated to grow at a CAGR of 4.5% 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 Middle East and Africa luxury pens market in 2020. Based on distribution specialty stores segment accounted for the largest share of the Middle East and Africa 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 Middle East and Africa 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; Hugo Boss; Montblanc International; Fisher Space Pen; Bentley Motors; and Waterman.
Reasons to buy report
- To understand the Middle East and Africa 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 Middle East and Africa luxury pens market
- Efficiently plan M&A and partnership deals in Middle East and Africa 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 Middle East and Africa luxury pens market
- Obtain market revenue forecast for market by various segments from 2019-2028 in Middle East and Africa region.
Middle East and Africa Luxury Pens Market Segmentation
Middle East and Africa Luxury Pens Market -By Product Type
- Ball Point Pens
- Fountain Pens
- Roller Ball Pens
- Multifunctional Pens
- Others
Middle East and Africa Luxury Pens Market -By Distribution Channel
- Supermarkets and Hypermarkets
- Specialty Stores
- Online Retail
- Others
Middle East and Africa Luxury Pens Market – By Country
- South Africa
- Saudi Arabia
- UAE
- Rest of Middle East and Africa
Middle East and Africa Luxury Pens Market – Company Profiles
- A. T. Cross Co. LLC.
- Faber-Castell
- HUGO BOSS
- Montblanc International
- Fisher Space Pen
- Bentley Motors
- Waterman
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. Middle East and Africa 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 Shifting Preference Towards Luxury Writing Products
5.1.2 Increasing Brand Consciousness Pertaining to Luxury Pens
5.2 Market Restraints
5.2.1 Rise in Focus on Digitization and High Operational Costs
5.3 Market Opportunities
5.3.1 Heightening Demand for Luxury Pens for the Purpose of Gifting
5.4 Future Trends
5.4.1 Significant Investment in the Development of Innovative Products
5.5 Impact Analysis of Drivers and Restraints
6. Luxury Pens – Middle East and Africa Market Analysis
6.1 Luxury Pens Market Overview
6.2 Luxury Pens Market –Revenue and Forecast to 2028 (US$ Million)
7. Middle East and Africa Luxury Pen Market Analysis – By Product Type
7.1 Overview
7.2 Middle East and Africa 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. Middle East and Africa Luxury Pen Market Analysis – By Distribution Channel
8.1 Overview
8.2 Middle East and Africa 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 Pen 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 Pen Market – Revenue and Forecast to 2028 (US$ Million)
9. Middle East and Africa Luxury Pens Market – Country Analysis
9.1 Middle East and Africa: Luxury Pens Market
9.1.1 Middle East and Africa: Luxury Pens Market, by Key Country
9.1.1.1 South Africa: Luxury Pens Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.1.1 South Africa: Luxury Pens Market, by Product Type
9.1.1.1.2 South Africa: Luxury Pens Market, by Distribution Channel
9.1.1.2 Saudi Arabia: Luxury Pens Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.2.1 Saudi Arabia: Luxury Pens Market, by Product Type
9.1.1.2.2 Saudi Arabia: Luxury Pens Market, by Distribution Channel
9.1.1.3 UAE: Luxury Pens Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.3.1 UAE: Luxury Pens Market, by Product Type
9.1.1.3.2 UAE: Luxury Pens Market, by Distribution Channel
9.1.1.4 Rest of Middle East and Africa: Luxury Pens Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.4.1 Rest of Middle East and Africa: Luxury Pens Market, by Product Type
9.1.1.4.2 Rest of Middle East and Africa: Luxury Pens Market, by Distribution Channel
10. Overview – Impact of COVID-19 on Middle East and Africa Luxury Pens Market
10.1 Impact of COVID-19 on Luxury Pens Market
10.2 Middle East & Africa: 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 HUGO BOSS
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 Montblanc International
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 Fisher Space Pen
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 Bentley Motors
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 Waterman
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
12. Appendix
12.1 About The Insight Partners
12.2 GlossaryLIST OF TABLES
Table 1. Middle East and Africa: Luxury Pens Market –Revenue and Forecast to 2028 (US$ Million)
Table 2. South Africa Luxury Pen Market, by Product Type – Revenue and Forecast to 2028 (USD Million)
Table 3. South Africa Luxury Pen Market, by Distribution Channel – Revenue and Forecast to 2028 (USD Million)
Table 4. Saudi Arabia Luxury Pen Market, by Product Type – Revenue and Forecast to 2028 (USD Million)
Table 5. Saudi Arabia Luxury Pen Market, by Distribution Channel – Revenue and Forecast to 2028 (USD Million)
Table 6. UAE Luxury Pen Market, by Product Type – Revenue and Forecast to 2028 (USD Million)
Table 7. UAE Luxury Pen Market, by Distribution Channel – Revenue and Forecast to 2028 (USD Million)
Table 8. Rest of Middle East and Africa Luxury Pen Market, by Product Type – Revenue and Forecast to 2028 (USD Million)
Table 9. Rest of Middle East and Africa Luxury Pen Market, by Distribution Channel – Revenue and Forecast to 2028 (USD Million)
Table 10. Glossary of Terms, Middle East and Africa Luxury Pens MarketLIST OF FIGURES
Figure 1. Luxury Pens Market Segmentation
Figure 2. Luxury Pens Market Segmentation – By Country
Figure 3. Middle East and Africa Luxury Pens Market Overview
Figure 4. Ball Point Pens Segment is Dominating the Middle East and Africa Luxury Pens Market
Figure 5. UAE Held Largest Share of Middle East and Africa Luxury Pens Market
Figure 6. Middle East and Africa Luxury Pens Market, Industry Landscape
Figure 7. Middle East & Africa: PEST Analysis
Figure 8. Expert Opinion
Figure 9. Luxury Pens Market Impact Analysis of Drivers and Restraints
Figure 10. Middle East and Africa: Luxury Pens Market – Revenue and Forecast to 2028 (US$ Million)
Figure 11. Middle East and Africa 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. Middle East and Africa 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 Pen Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. Online Retail and Others: Luxury Pen Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. Middle East and Africa: Luxury Pens Market, by Key Country – Revenue (2020) (USD Million)
Figure 21. Middle East and Africa: Luxury Pens Market Revenue Share, by Key Country (2020 and 2028)
Figure 22. South Africa: Luxury Pens Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. Saudi Arabia: Luxury Pens Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. UAE: Luxury Pens Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. Rest of Middle East and Africa: Luxury Pens Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. Impact of COVID-19 Pandemic in Middle East & Africa- A. T. Cross Co. LLC.
- Faber-Castell
- HUGO BOSS
- Montblanc International
- Fisher Space Pen
- Bentley Motors
- Waterman
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Middle East and Africa 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 Middle East and Africa 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 Middle East and Africa market trends and outlook coupled with the factors driving the Middle East and Africa 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