Back To School Market Estimated At USD 245.7 Billion By 2028


 San Francisco, 6 July 2022: The Report Back To School Market Size, Share & Trends Analysis Report By Distribution Channel (Offline, Online), By Type (Clothing & Accessories, Electronics), By Region (CSA, Asia Pacific), And Segment Forecasts, 2022 - 2028

The global back to school market size is estimated to reach USD 245.7 billion by 2028 and is expected to grow at a CAGR of 5.2% from 2022 to 2028, according to a new report by Grand View Research, Inc. The global market growth is significantly driven by the increasing population and rising percentage of primary and secondary school enrollment, mostly in developing nations. Government initiatives and expansion of school programs across the globe are driving the demand for school supplies and stationery, propelling the growth of the market. A rapid growth in the retail sector and significant improvement in digital technology also drive the market on the account of the easy and fast accessibility & availability of school supplies and products. The COVID-19 pandemic negligibly affected the global market.

The majority of the shopping, which is done from June to September, was not heavily affected by the COVID-19 restrictions. Over the forecast period, the market is expected to gain momentum due to increasing spending on electronics for online schooling, and witness a healthy & steady growth rate. On the basis of types, the electronics segment is anticipated to witness significant growth during the forecast period. The high demand for smartphones and laptops is driving the segment growth. COVID-19 pandemic-induced increased penetration of smart classrooms and green school format is also boosting the demand for electronic gadgets, which is likely to drive the segment growth. The online segment is estimated to register the fastest CAGR from 2022 to 2028.

Increasing consumer preference for online platforms due to quick & easy shopping experience, convenience, and discounts on product prices is also driving the segment growth. Moreover, due to the COVID-19 pandemic, many vendors and manufacturers have adopted an online sales mode, which is expected to drive the growth of the segment during the forecast period. For instance, The Stationery Store launched an online website in March 2021. Central and South America are anticipated to witness the second-fastest CAGR during the forecast years. Economic development, urbanization, and enhancement of the education system are expected to drive the region’s growth. Government initiatives and private organizations are spreading awareness about the importance of primary and secondary schooling in the region. This is expected to drive the demand further.

Access Research Report of Back to School Market @ https://www.grandviewresearch.com/industry-analysis/back-to-school-market-report

Back To School Market Report Highlights

  • Asia Pacific accounted for the largest market revenue share in 2021 and will expand further at a steady CAGR from 2022 to 2028
  • The growth can be attributed to the rising school-going population and a strong presence of key market players in the APAC region
  • On the basis of types, the clothing and accessories segment accounted for the highest market revenue share in 2021
  • High consumer spending on clothing and accessories type is credited for the higher market revenue share
  • The offline distribution channel segment accounted for the maximum revenue share in 2021, as these channels are well-established and are widely available

List of Key Players in the Back To School Market

  • The ODP Corp.
  • com, Inc.
  • Acco Brands Corp.
  • Staples Inc.
  • Apple Inc.
  • Faber Castell AG
  • Newell Brands Inc.
  • ITC Ltd.
  • Tommy Hilfiger B.V.
  • Mitsubishi Pencil Co. Ltd.

Access Press Release of Back To School Market @ https://www.grandviewresearch.com/press-release/global-back-to-school-market

 

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