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Rockville, MD, Aug. 29, 2018 (GLOBE NEWSWIRE) -- With technology playing its role to inspire people all around the globe, the art sector luckily remains untouched and still breathes among many individuals. The demand for art supplies showcase lucrative opportunities across diverse geographical regions on the backdrop of growing number of independent art professionals. Hence, to study the concerned market in a precise manner, Fact.MR has delivered its research report titled “Art Supplies Market Forecast, Trend Analysis & Competition Tracking - Global Review 2018 to 2028”, which is available on its broad online repository. This assessment focuses on the market size & revenue share from different segments during the stated forecast period. According to research findings, the art supplies market is anticipated to expand at 4.5% CAGR during 2018-2028; this growth is driven by increased traction for art supplies in schools and residences end use sectors.
It has been analyzed that, increasing popularity of exhibitions, auctions and arts shows, together with the money connected to them has influenced the manufacturing sectors for art supplies. This is directly created demand for premium and luxury art supplies. The research report starts with the executive summary that discusses the opportunity assessment and competitive analysis. Furthermore, the market overview section discourses knowledge about market definition, supply chain, cost structure and pricing point analysis. Readers can also gather details about forecast factors and Porter’s Five Forces analysis, both of which are aimed at making this research study more resourceful.
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Art Supplies Demand Motivated by Universal Education Concept across Developing Countries
It is interesting to know that, schools account for a major share of the complete demand for art supplies. The use of pens, pencils, notebooks, markers, whiteboards, etc. for art purposes across schools have been behaving as a major contributor to the overall art supplies market. In addition, increasing focus towards art & crafts as a significant extra-curricular activity is another aspect which is driving the demand for art supplies.
The global market for art supplies is bifurcated on the basis of product type, pencil type, pen type, color type, end user, and sales channel. Each of these segments are studied based on crucial market factors like value, volume and forecast merged with Y-o-Y growth comparison. According to active research statistics, the pens segment is projected to account for more than 78.1% market share by 2018 end, and is estimated to remain the same by the end of the forecast period.
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Rising Count of Online Shoppers Positively Impacting the Growth of Art Supplies Market
The global prevalence of e-commerce has inspired several art supplies manufacturers to deliver their products via online portals. Therefore, online sales or art supplies are likely to surge during the forecast period (2018-2028). There has been a noticeable shift in focus from budget to quality products, leading to a constructive transition that will surely enhance the demand for luxury art supplies in the coming years. Presently, stress over cost has mellowed down to become a secondary option while buying art supplies. Quality and brand are the prime factors which are considered by consumers.
Considering the regional expanse for the art supplies market, Asia Pacific except Japan (APEJ) region is anticipated to stay dominant during the stated forecast period. Furthermore, on the basis of end-user, the residences segments is likely to register 5.2% CAGR until 2028.
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