An exclusive market study published by Fact.MR on the Art Supplies Market offers insights related to how the market is projected to grow over the forecast period 2019 to 2029. The objective of the report is to enable our readers to understand the various aspects of the Art Supplies Market and assist them to formulate impactful business strategies. Furthermore, the different factors that are expected to influence the current and future dynamics of the Art Supplies Market are discussed in the presented study.
According to the report, the Art Supplies market is set to reach a market value of ~US$ XX by the end and register a CAGR growth of ~XX% during the assessment period. The report offers an in-depth understanding of the Art Supplies supply chain, value, and volume chain across the various regional markets.
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Important Insights Enclosed in the Report:
- Technological developments within the Art Supplies Market sphere
- Growth prospects for new market players across different regions
- Company profiles of leading players in the Art Supplies Market
- Up-to-date insights related to the key success factors impacting the growth of the Art Supplies Market
- Recent mergers, acquisitions, partnerships, and strategic alliances
The latest business intelligence report on the Art Supplies Market published by Fact.MR introspects the various parameters that are likely to influence the growth trajectory of the Art Supplies Market during the forecast period 2019 to 2029. The report includes a detailed qualitative and quantitative assessment of the Art Supplies Market and touches upon the business strategies of the prominent players operating in the Art Supplies Market.
The published report provides a deep understanding of the Art Supplies Market by segregating the market into different segments such as region, application, and end-use industry.
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Sustaining Brand Loyalty with Ecofriendly & Biodegradable Art Supplies
Based on the diverse demographics of end users, the positioning of the art supplies to cater to specific demands based on aesthetics, cost, variety and efficiency, has benefited manufacturers and enticed them to increase their production. Yet, one of the prominent motivators for consumers to purchase art supplies from a particular company is the brand loyalty. The companies have been seen to cultivate brand loyalty with multiple new programs launched in the art supplies market. Companies have been showcasing their products as bio degradable with minimum wastage. Showcasing of their products as bio degradable has been one of the main factors affecting brand loyalty in the developed regions such as Europe and North America. This is evident in the stance of Société BIC SA, one of the leading players in the art supplies market, which has formed a partnership with Loop to reduce packaging waste in their consumer products. Another prominent development in art supplies market is the reduction of plastic usage as done by Newell Brands. Newell Brands divested Process Solutions and Rexair, to promulgate restructuring plans of the company.
Product Novelty Dominating Competition Space of Art Supplies
Companies have displayed acumen in their main strategy, i.e. a well-positioned product. The art supplies industry has been turning towards development of luxury products at affordable prices. The competition space of the art supplies market has been dominated by multiple product launches. Leading from the forefront in the art supplies market is STAEDTLER Mars GmbH & Co. KG. In January 2019, STAEDTLER launched a combination package of multiple art supplies such as fine pastel chalks, luminous acrylics, and double-ended brush markers. The art supplies package also contains wood-cased colored pencils, woodless colored pencils with water color lead and artist pencils. In January 2019, STAEDTLER restructured and launched FIMO RANGE with multiple new colors. In January 2019, STAEDTLER extended its LUMOGRAPH RANGE. In January 2019, another company, Kokuyo Camlin launched geometry & pencil box for end users. In May 2019, Société BIC SA launched temporary tattoo markers with cosmetic grade inks. As announced by Société BIC SA in December 2018, the company is also collaborating with TOURNAIRE PARIS for development of TWO UNIQUE GOLD BIC® 4 colors pens. The management changes in top tier and mid-tier companies have been high in the past year. Newell Brands, Hallmark Cards, ITC limited, and F.I.L.A. are some of the companies whose higher management has undergone a change in recent times. These changes in management will spell landmark shifts in the strategies of these companies.
An acquisition witnessed in the art supplies market is the acquisition of Pacon Holding Company by F.I.L.A. – Fabbrica Italiana Lapis ed Affini S.p.A. The acquisition was completed in June 2018.The main motivation for the acquisition was the diversification and strengthening of distribution channels. Kokuyo Camlin, F.I.L.A., Société BIC SA, STAEDTLER Mars GmbH & Co. KG and Faber-Castell are some of the key players controlling the majority stake in the art supplies market.
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Important queries addressed in the Art Supplies Market report:
- How will the evolving trends impact the growth of the Art Supplies Market over the forecast period?
- Which companies are currently dominating the Art Supplies Market in terms of market share?
- How can market players capitalize on the lucrative opportunities in Region 1?
- What is the projected growth rate of the Art Supplies Market in various regions during the forecast period?
- Is the current market scenario favorable for the growth of new market players?
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