The art supply market is expected to see moderate growth during the forecast period. Items required for artwork, be it sketching, painting, crafting, calligraphy, come under the category of art supplies. The global market of art supplies is branched based on its end-users, types, and channel of sales. The largest percentage of crafters and painters today are millennials, who fall between the ages of 18-34. 90% of the total sales of art supplies are made through brick and mortar stores. Growth in trends such as DIY, recycle-reuse-reduce, display of work on social media platforms, personalized art has boosted the sales of art supplies in recent years. Innovation and introduction of new art supplies are anticipated to continue to influence the demand for art supplies in the upcoming years.
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Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
Art is said to be "an expression of soul" and this has driven the art and craft business to a great extent. In today's world, many factors such as growth in DIY trends, innovation in creativity, showcasing one's creativity on social media platforms such as Instagram, YouTube, Pinterest, etc. have driven the growth of this market.
Customized art supplies are being used by many companies for promotional purposes. Pens, pencils, and markers are used by schools and offices for various purposes and have increased the art supplies.
Another major advantage for the suppliers of art materials is the raw material required for its manufacturing is cheap. Low entry barriers and high demand for art supplies have led to its success.
Major threats can be seen from the competitors who provide more efficient substitutes at reduced costs.
Continuous experimentation with art supplies like florescent colors and pencil painting colors pave way for new opportunities.
COVID-19 Scenario Analysis
- COVID-19 has affected the growth of art supplies market negatively.
- The maximum sales of art supplies come from brick and mortar retail stores, which are shut down in almost all the countries affected by COVID-19 and that has dropped down the sales to a large extent.
- Already the online sales of art supplies are less in comparison to its offline sales and now have almost become negligible amid this pandemic.
- Major end-users being the educational institutes, students, commercials, are all locked down, which has reduced the sales of art supplies.
The Global Art Supplies Market Trends
Power to Personalize Surges Art Supplies
Art and craft have seen drastic changes in the recent years. Artists these days sell customized and personalized items on online platforms. In addition, growth in DIY trends has attracted a lot of customers to purchase art material. Leaving no time for crafting retailers, they need to find out ways to attract potential customers and retain old ones.
The Rise in E-commerce has positively Affected Art Supplies Market
The global presence of e-commerce has motivated art supplies manufacturers to sell their products online. This is expected to lead to a surge in the online supply of art materials during the forecast years. Social media influencers these days have become a medium to boost sales by recommending various art supplies to their followers, converting them into potential customers.
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Key Benefits of the Report
- This study presents the analytical depiction of the global art supplies industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global art supplies market share.
- The current market is quantitatively analyzed to highlight the growth scenario of the global art supplies market.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers in the market.
- The report provides a detailed global art supplies market analysis based on competitive intensity and how the competition will take shape in coming years.
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