Strengthening Education Sector and Growing Domestic Paper Production Industry to Drive the Growth of Bangladesh Stationery Market – 6Wresearch
The government of Bangladesh is aiming to strengthen the education sector of the country over the coming years. The primary and secondary education enrolment rate along with adult literacy rate in Bangladesh has increased over the years and this trend is expected to continue in future as well. Under the Education Goal 2030, the government of Bangladesh aims to achieve 100% literacy rate by 2020. This is expected to bode well for the growth of paper and non-paper stationery market in Bangladesh over the coming years.
According to 6Wresearch, Bangladesh Stationery Market revenues are projected to grow at a CAGR of 10.3% during 2018-24. One of the main aims of the Bangladesh government over the past few years was to achieve the education Millennium Development Goals. As a result, the access to education in Bangladesh has grown manifolds in the process. Several ambitious steps have been announced by the government to bulk up the education system in Bangladesh such as the organizing of Math Olympiads for students, distribution of free books among all students, construction of more than 60,000 classrooms as well as establishing around 1,000 new primary schools in areas that were previously devoid of them.
According to Ravi Bhandari, Assistant Manager, 6Wresearch, “The education sector accounts for the largest revenue share in the overall Bangladesh stationery market. Both paper and non-paper stationery products are used extensively in schools, colleges, universities and other educational institutions – be it pens, pencils, exercise notebooks or diaries.”
“The Transforming Secondary Education for Results (TSER) program and the 7th FYP (Five Year Plan) of Bangladesh are some of the initiatives that are intended to improve the primary and secondary education segments in the country. This factor would drive the demand for stationery products in future,” Ravi further added.
According to Rachit Gulati, Research Associate, Research and Consulting, 6Wresearch, “The exercise notebook segment holds the largest market revenue share in the paper stationery market in Bangladesh on account of their widespread usage across all consumer groups – students or professionals.”
“The non-paper stationery market in Bangladesh is dominated by the pen and pencil segment. While wooden pencils have a monopoly in both revenue and volume terms in the pencil segment, whereas, the pen stationery market is dominated by ball pens, ” Rachit further said.
Some of the prominent companies in the Bangladesh stationery market include – Bashundhara Paper Mills Ltd., Meghna Group of Industries, Matador Ball Pen Industries and Younus Group.
“Bangladesh Stationery Market (2018-2024)” provides an in-depth analysis with 118 figures and 14 tables, covered in more than 165 pages. The report estimates and forecasts the overall Bangladesh stationery market by revenue, volume, types, regions and applications such as education, office and others. The report also offer insights on competitive landscape, company profiles, market drivers and restraints.
For Sample Pages & Detailed Report Description Visit : http://www.6wresearch.com/market-reports/bangladesh-stationery-market-2018-2024-forecast-by-types-paper-non-paper-on-paper-applications-regions-competitive-landscape.html
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