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Luxury Pens Market Highly Favorable to the Growth Rate by 2022
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The growing global luxury pens market can be attributed to the growing disposable income and brand awareness amongst people. Growing population coupled with the changing lifestyle of people in the developed countries is anticipated to drive the demand for global luxury pens market. Moreover, possessing a luxury pen has become a status symbol these days and hence, high class society people are opting for luxury pens. Likewise, the attractiveness of luxury pens again plays a great role for boosting its market.
The luxury pens market is a niche market, and also there are not much retailers available in the market, which can hamper the luxury pens market. Likewise, the import duty of such luxury pens is high enough to impact its market. Due to its high range the inventory cost of the dealers increases, hence it requires more working capital management which can decline the luxury pens market. Moreover, there is an increase in e-communication among people which would further decline the luxury pens market.
Global Luxury Pens Market: Segmentation
The global luxury pens market can be segmented on the basis on product type, raw material and application.
Global Luxury Pens Market by Product Type
Ball Point Pens
Converter Pens
Fountain Pens
Roller Ball Pens
Fine Liner Pens
Stylus Pens
Multifunctional Pens
Brush Pens
Die Pens
Global Luxury Pens Market By Material Used:-
Precious gold metals
Precious resin
Rubber
Stainless Steel
Sterling Silver
Porcelain/ Ceramic
Carbon
Lacquer
Global Luxury Pens Market by Application:-
Calligraphy
Screen Writing
Document Marking
Global Luxury Pens Market by Region:
Asia Pacific
Europe
North America
Latin America
The Middle East & Africa
Asia Pacific is the fastest growing region in the global luxury pens market. Countries such as India and China are the upcoming countries where demand for such luxury items are at peak because of the increase in disposable income of people. Even, North America is a flourishing luxury pens market due to the improving brand awareness of luxury pens amongst people.
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Global Luxury Pens Market: - Key Players
Some of the key players identified in the global luxury pens market are Paradise Pen Company, Montblanc International GmbH, C. Josef Lamy GmbH, Grayson Tighe, Parker Pen Company, A.T.Cross Company, Sanford L.P.
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