Project report for Pen Manufacturing

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Introduction

Now in India, ballpoint pens dominate the writing instrument market, selling over one hundred million pens each year worldwide. By elucidating details like product definition, its uses and applications, industry segmentation as well as an overall overview of the industry sector in India. Rise in education sector is one of the major factors that will contribute to the growth of product consumption in India and also talks about the foreign trade of the product along with the list of top importing and top exporting countries. It is a sector which was once a prerogative of a few has today become a highly cluttered market. Even though in today’s advanced age where internet and cell phones dominate the market still there is no substitute for writing instruments. Major Indian players in the ballpoint pen market are Cello, Lexi, Reynolds, Luxor, Flair, Montex, Todays, Linc and so on. Out of these, Cello, Lexi and Reynolds have a major share of the market.  Where every other industry has grown this industry has also not restricted to growth.With the investment and the raw materials cost being low, we can expect to earn a good profit from Pen making business. The manufacturers have to constantly trying to appeal to the customers with customized pen body styles, clips, and superior use of ink. Easy accessibility of eco-friendly products at cheaper prices is expected to exhibit a positive shift in the inclination of consumer preference for these products. Companies specializing in the luxury pen are attracting people from high-income groups owing to their designer's finish look and quality.

Market potential & Strategy

The Indian writing instruments industry, which has been growing at a CAGR of about 15% over the last decade, is already worth about Rs.2,500 crore and is marked by a fierce competition among brands like Add Gel, Cello, Flair, Luxor, Linc, Reynolds, Rotomac, Today’s and hundreds of other small-scale and unorganized players. While the low-value segment and high-end writing instruments make for the rest 20%. It’s the ease of use and low price of ball point and gel pens that make them a popular choice among the masses. While the market for low-end pens is growing at a rate of 9-10%, the market for mid and high-end pens is growing faster at 13-15% annually.  An increase in the number of promotional products such as apparel and calendars offered by educational institutions and offices is expected to remain a key factor in driving the market. Moreover, nowadays, the availability of natural and recyclable materials used in the manufacturing process of pens has increased the scope and demand for pens across the globe. These fancy coloring instruments are also gaining popularity among artists owing to the availability of these products in a wide variety and different shades of color. The growing use of highlighters and markers among students and working professionals are anticipated to expand the market scope. Many manufacturers are now shifting towards producing recyclable PET pens that are made using PET bottles as a raw material. In addition, the use of eco-friendly colors in coloring instruments such as crayons and sketch pens expected to propel the market growth over the upcoming years.

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