About Luxury Pen
High-end luxury pens are available as standard pens, special edition, and limited editions, with fountain pens being the most popular variants. Luxury pens are high-priced pens, that range from at mid-$100 and can go up to tens of thousands of dollars.Many vendors in the market offer luxury pens as standard order items, while some others offer special and limited-edition luxury pens.
Technavio’s analysts forecast the global luxury pen market to grow at a CAGR of 3.90% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global luxury pen market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Luxury Pen Market 2017-2021
Technavio recognizes the following companies as the key players in the global luxury pen market: A. T. Cross Company, C. Josef Lamy, ELMO & MONTEGRAPPA, Montblanc International, Newell Brands, and S.T. Dupont.
Other Prominent Vendors in the market are: Aurora, GRAF VON FABER-CASTELL, Grayson Tighe, Franklin-Christop, FISHER SPACE PEN, KAWECO, KRONE, Pelikan Group, PLATINUM PEN, Pilot, and Urso & C.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Emergence of online retailers. The increase in Internet penetration along with easy access to computers, mobiles, and tablets have fueled the growth of the e-commerce sector. This has benefitted online retailers of luxury pens. The global luxury pen market continues to benefit from the increasing presence of online retailers such as Amazon.com and Office Depot.”
According to the report, one of the major drivers for this market is Innovation in product design and feature. The innovation and integration in product design and feature of luxury pens make them premium-priced products. Many vendors offer luxury pens that have innovative and customizable features. Hence, they were priced higher than normal pens. This is expected to drive the market during the forecast period. Some of the vendors are also launching limited-edition luxury pens.
Further, the report states that one of the major factors hindering the growth of this market is Increase in availability of counterfeit products. The high availability of counterfeit luxury pens produced by local brands and other manufacturers of counterfeit products is hindering the growth of the market. This is because they are priced lower than the original products. However, counterfeit products lack quality and are preferred by consumers of the low-income segment. This consequently leads to the failure of vendors to achieve the optimal market penetration.
A. T. Cross Company, C. Josef Lamy, ELMO & MONTEGRAPPA, Montblanc International, Newell Brands, S.T. Dupont, Aurora, GRAF VON FABER-CASTELL, Grayson Tighe, Franklin-Christop, FISHER SPACE PEN, KAWECO, KRONE, Pelikan Group, PLATINUM PEN, Pilot, and Urso & C.
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