250 million school going students and over 38 million students enrolled in higher education

 

  • 250 million school going students and over 38 million students enrolled in higher education 


  • NEP 2020 aims to achieve 100% GER2 by 2030 in preschool secondary level. Policy also seeks to increase public investment in education to 6% of GDP from 2.5% in fiscal 2024 budgetary estimates.
  • Educational Spending : Budget estimates for 2023-24 show that the government will spend ₹ 1.12 lakh crore in the coming fiscal year on education – the highest ever and an increase of around 8.2% than what was pegged in 2022-23 
  • Rising literacy rate: Govt. initiative such as Sarva Shiksha has strengthened India's literacy from 65% in 2001 to ~77.70% in 2021. The objective of attaining 100% literacy levels by 2025 could have a positive impact on the writing instruments sector. 
  • Over 250 million school going students and over 38 million students enrolled in higher education 
  • Largest population in age bracket of 5-24 years ~580 million
  • Indian working population to grow ~20% and education market to grow ~ 14% , hence Writing Instrument growth prospects are very strong   
  • India has over 10 Mn non-stationery outlets
  • Broken tradition by expanding to neighbourhood grocery stores (Kirana, Medical stores, Pan stores, etc.)   
  • Favorable Market Tailwinds: The Indian stationery and art materials market is growing at a robust 13% CAGR, set to reach ₹72,000 crores by FY’28.
  • Addressable Market, with a long-term aspiration to tap into the full ₹38,500 crore Indian stationery market   
  • Global Ball & Gel Pen demand expected to grow at a CAGR of 12.5% over the next 7-8 years
  • Demand to grow faster in the developing world 
  • Increasing literacy in the developing world to drive this growth      
  • Premium Pens are driven by price, this subsegment is characterized by high brand leverage, as the premium is built on product branding. Focus is on Professionals and Corporate Gifting  
  • Mass Market Pens are driven by volume, this subsegment is highly competitive (price denominations play a crucial role in salability). ▪ It is difficult to increase price without losing significant sales. Students drive the demand, deep retail penetration is essential  

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