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Global Luxury Pens Market to Reach $3.29 Billion by 2028
Global Luxury Pens Market Forecast
Dublin, Aug. 01, 2022 (GLOBE NEWSWIRE) -- The "Global Luxury Pens Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Ball Point Pens, Fountain Pens, Roller Ball Pens, Multifunctional Pens and Others) and Distribution Channel" report has been added to ResearchAndMarkets.com's offering.
The global luxury pens market was valued at US$ 2,251.10 million in 2020 and is projected to reach US$ 3,287.53 million by 2028; it is expected to grow at a CAGR of 5.0% from 2021 to 2028.
Based on distribution channel, the luxury pens market is segmented into hypermarkets and supermarkets, specialty stores, online retail, and others. In 2020, the specialty stores segment dominated the luxury pens market.
Geographically, the luxury pens market is segmented into North America, Europe, Asia Pacific (APAC), South and Central America (SAM), and the Middle East & Africa (MEA). Europe is considered to be one of the lucrative regions for the luxury pens market, owing to the rising focus on luxury writing products.
The region is expected to be the fastest-growing region over the forecast period. The countries in the region have witnessed an increase in demand for luxury pens because of strong economic growth, along with an inclination toward a high standard of living. The region encompasses ample opportunities for the growth of the market attributable to the rising brand consciousness, along with increasing expenditure toward research and development activities. This, in turn, is expected to diversify the application base of luxury pens, thereby leading to market growth.
Market Dynamics
Market Drivers
Growing Consumer Interest Toward Luxury Writing Products
Rising Brand Consciousness Related to Luxury Pens
Market Restraints
Rise in Focus on Digitization and High Operational Costs
Market Opportunities
Growing Demand for Luxury Pens for Gifting Purposes
Future Trends
Significant Investment in Product Innovation and Development
Key Topics Covered:
1. Introduction
2. Key Takeaways
3. Research Methodology
4. Luxury Pens Market Landscape
5. Luxury Pens Market - Key Market Dynamics
6. Luxury Pens - Global Market Analysis
7. Global Luxury Pen Market Analysis - By Product Type
8. Global Luxury Pen Market Analysis - By Distribution Channel
9. Luxury Pens Market - Geographic Analysis
10. Company Profiles
11. Appendix
Companies Mentioned
A. T. Cross Co. LLC
Caran D'ache
Faber-Castell
Grayson Tighe
Hugo Boss
Jack Row
Montblanc
Conklin Pens
Fisher Space Pen
Bentley Motors
For more information about this report visit https://www.researchandmarkets.com/r/hvyppp
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