Middle East and Africa Luxury Pens Market Share and Forecast by 2028

The Middle East and Africa luxury pens market is expected to grow from US$ 145.91 million in 2021 to US$ 198.96 million by 2028; it is estimated to grow at a CAGR of 4.5% from 2021 to 2028.

Luxury pen is a type of premium product which exhibits unique features and are customizable as per customer preferences. Such pens are designed to provide better quality and comfort along with adding to royalty as an added aesthetic. Luxury pens are categorized as premium products, essentially used by elite class group as piece of status symbol. They are also treated as precious gifts to commemorate a special occasion or achievement. The shift in consumer lifestyle backed by increase in disposable income and growing investment in luxury writing instrument is primarily driving the demand of luxury pen market. Additionally, the manufacturers are strategically investing in product development by modifying the luxury pen nib with platinum and other expensive metals. It is expected to provide impetus to market growth.
 

In Middle East and Africa, South Africa has reported a huge number of COVID-19 cases, which led to the discontinuation of several business operations, including luxury pens manufacturing. The shuttering of office, schools, and colleges during the pandemic period, along with significant fall in the production of luxury stationery items, has severely impacted the demand for luxury pens in Middle East and Africa. However, as the economies are planning to revive their operations, the demand for luxury pens is expected to rise in the region. However, the focus over just-in-time production is another concerning factor hindering the market growth. In addition to the increasing literacy rates in emerging countries, the growing prominence of luxury fountain pens and significant investment by prominent manufacturers in new product launch would continue to boost the growth for the luxury pens market in Middle East and Africa in the coming years.

With the new advancements and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Middle East and Africa luxury pens market. Manufacturers such as Montblanc International have strategically shifted their attention toward royalty and luxury in writing to follow the changing dynamics of the market and capture a better position in the luxury pens market. For instance, Montblanc positioned its fountain pens under luxury goods by introducing luxury appeals, along with providing a guarantee for greater quality and focusing on sustainable innovations. Similarly, in 2017, the company launched a collection of writing instruments to pay tribute to Johannes Kepler, a mathematician, astronomer, and astrologer. The luxury pens feature four styles of the pen, each incorporated with fine detailing. The pens focus on capturing the beauty of the Milky Way by utilizing 5,294 blue sapphires and 570 pavé diamonds on the cap and barrel of the fountain pen. In 2016, Rhode Island-based pen maker A. T. Cross launched the limited edition of 1,977 pens inspired by characters from the movies Star Wars for Star Wars fans.
 

Middle East and Africa Luxury Pens Market Segmentation

Middle East and Africa Luxury Pens Market – By Product Type

• Ball Point Pens
• Fountain Pens
• Roller Ball Pens
• Multifunctional Pens
• Others

Middle East and Africa Luxury Pens Market – By Distribution Channel

• Supermarkets and Hypermarkets
• Specialty Stores
• Online Retail
• Others

Middle East and Africa Luxury Pens Market – By Country

• South Africa
• Saudi Arabia
• UAE
• Rest of Middle East and Africa

Middle East and Africa Luxury Pens Report Scope