The “United Kingdom Stationery Market: Share, Size, Industry, Value, Growth, Revenue, Analysis, Trends, Segmentation, Outlook and Competitive Landscape” report has been added to ResearchAndMarkets.com’s offering.
The UK Stationery Market has witnessed a decline in revenues in 2020 due to the COVID-19 outbreak, which led to the temporary closure of educational institutions as a result many schools and universities swiftly transitioned to remote learning, resulting in a higher demand for technological tools such as laptops and iPads and a decrease in demand for stationery items. However, the market rebounded as schools reopened and the government increased its investment. To revitalize the education sector, the government allocated $1.74 billion in June 2021 as part of its education recovery plan, and an additional $373.03 million was announced in January 2022.
The United Kingdom Stationery Market size is projected to grow at a CAGR of 2.6% during 2023-2029. The UK stationery market is currently in the later growth stage due to the rising digitalisation and the country is moving towards paperless economy; however, the market still has some growth opportunity owing to rising demand for eco-friendly, biodegradable and recyclable stationery.
Moreover, office spaces are further expected to grow in future on the back of the various multi million dollars office projects that are in pipeline such as $105m Fetter Lane Office Development, $65m 11 Belgrave Road Office Building , $42m 71/72 Kingsway Office Complex, which would increase the number of employees, thus creating demand for stationery products in the country. Additionally, it was projected that by 2026 the international undergraduate applicant is expected to increase by 46% and the number of secondary schools would increase from 3,003 in 2020 to 3,231 in 2024F, which would increase the number of enrolments, and subsequently contributing to United Kingdom Stationery Market Growth.
Market by Type
Paper products garnered the major revenue share in the UK Stationery Industry owing to its vast usage among student and employees. Additionally, with growing government initiative to boost the education sector along with rising international students would create a demand for paper products such as notebook, registers, notepads etc. in the future.
Market by Sales Channel
Offline channel dominates the Stationery Market in United Kingdom as it is the most traditional and preferred way of purchasing stationery products by consumer as there is an ease of availability of retail stores in every locality offering promotional offers at competitive prices along with increasing numbers of specialty stores, convenient stores, hypermarkets and supermarkets across the country.
Market by Application
The education sector dominates the United Kingdom stationery market owing to rising number of enrolments, which has increased from 10.2 million in 2016-2017 to 10.6 million in 2021-2022. Also, the government invested $122.6 billion in FY 2022 for the development of schools, which accounts for 4.2% of the total GDP leading to the growth of stationery market in the country.
Source : Yahoo