February 11, 2016
The study, by market analysts Technavio, analysed the “key trends expected to impact the market” from 2015 to 2019, with an emerging trend defined as “a factor that has the potential to significantly impact the market and contribute to its growth or decline”. Of the top three emerging trends “impacting” the global market, Technavio named the “growing demand for computer/printer supplies”, with toner cartridges pointed at in particular.
The analysts stated that “IT integration and industry automation has driven the market for this segment”, and added that “the toner cartridges category has become the largest contributor in this market as their demand is rising”, with a compound annual growth rate (CAGR) of over nine percent through to 2019. Technavio also points to “leading manufacturers” including Brother, Canon, HP Inc and Epson, as well as “retailers like Staples, Office Depot and Walmart”.
Worldwide, the office stationery and supply market “is likely to exceed” 217 billion (€191 billion) by 2019 because “the developed markets for office stationery and supply products are growing at a very high rate”, with particular markets seeing growth including the USA, UK, Germany, Canada, France and Japan, though “major growth is also expected” in developing markets such as China, Brazil, South Korea and India”.
The other two main trends the analysts have identified include “multichannel marketing”, with various channels available “through the online or offline medium[s]”, and “business expansion through mergers and acquisitions”, a key theme for the remanufacturing industry of late. A fourth and lesser trend is that for “packaging innovation and green products”, including recycled packaging and “green office supply products”, which could include remanufactured cartridges.
Brijesh Kumar Choubey, Senior Analyst at Technavio for the general retail goods and services industry, commented: “Although the demand for paper-based products is on the decline in developed markets due to industry automation and IT integration, growth prospects have increased for the printer and computer supplies manufacturers.”
Categories : World Focus