The global bookends market is expected to register a positive CAGR of 5.6% by garnering a market value of 90 billion. Growth of the market can be attributed to
Increase in demand for home office and study space is creating lucrative opportunities for the bookend market. Furthermore, an increase in the popularity of physical books and book collecting is increasing the sales of bookends.
A growing trend towards more decorative and unique home decor items. Newer designs of bookends are becoming a symbol of the identity of the person or the business, giving it a personal touch.
Growth in e-commerce and online sales are making it easier for people to purchase bookends from a variety of retailers.
Bookends help to keep books organized and upright on a shelf, preventing them from falling over. This makes it easier to find and access the books one needs, and also helps to keep books in good condition by preventing damage from being knocked over or stacked on top of one another. Bookends can also be decorative and add a personal touch to bookshelves. Additionally, bookends can also help to save space on a bookshelf by allowing more books to fit in a smaller area.
Although the COVID-19 pandemic affected the demand and sales of bookends owing to supply chain management issues, post-pandemic, the changing nature of work that consists of hybrid and work-from-home work model is expected to increase the demand for bookends. The Authors Guild states that book sales have increased by 9.1%. This, in turn, has positively affected the demand and sales of bookends.
Increased focus on education and literacy is playing a key role in the growth of bookends market. Governments and organizations around the world are recognizing the importance of education and literacy, and are investing in building libraries as a way to promote these values. Thus, increasing number of libraries have created a huge demand for bookends across the globe.
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Stylish and Sophisticated Bookends Gaining Popularity in Europe
In the coming years, the European commercial market is anticipated to be the largest and fastest-growing segment. Businesses are now offering premium and luxury bookends specifically for high-end residential and educational settings. The growing interest in home renovation and the use of stylish and sophisticated accessories are expected to drive market demand.
During the forecast period, the inclusion of animal figure and special character bookends to meet customer demands for higher quality products is likely to fuel the growth of the bookends market. With an increase in the construction of libraries, reading areas, and study areas in educational institutes, the bookends market is gaining significant traction in the region.
Future of Bookends Market
The future of bookends looks promising as the market is anticipated to grow in the coming years. The rising popularity of home remodeling and the adoption of fashionable and sophisticated accessories are expected to boost demand for bookends. The introduction of new designs, such as animal figures and special characters, is likely to attract more customers and fuel market expansion.
The increasing construction of libraries, reading areas, and study areas in educational institutes is also expected to drive demand for bookends. Additionally, the growing use of technology in the form of e-books and digital devices may lead to an increase in demand for physical books, and thus, bookends. Overall, the bookends market is expected to grow in the future with new designs, new materials, and growing demand from different sectors.
According to the latest research, sales of bookends is set to witness steady growth with a CAGR of over 5.6% during 2021 to 2031. Demand for bookends might witness substantial growth post suffering a drop in demand and sales throughout the COVID-19 pandemic period. Post-pandemic the anticipated growth in the number of readers is expected to see a rise in demand for bookends.
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What is Driving Demand for Bookends?
The growing number of reading enthusiast for various fictional, educational, as well as other literature books is mainly leading to adoption of books by high number of population for such purposes and correspondingly, driving the demand for bookends. The growing competition among the achievers has also compelled them to read and study different publications books and has alternatively boosted the need for bookends.
One of the key factors driving the worldwide bookends market's growth is rising consumer preference for books to fulfill their hobbies as readers. The market for bookends is predicted to grow in response to rising customer demand for novels, magazines, and other comics. During the forecast period, the introduction of better design bookends, with the goal of ensuring absolute fixation is also likely to boost market expansion.
Trend of Premium Quality Antique Bookends Likely to Augment Sales
Various manufacturers around the world have implemented various techniques to offer better quality bookends to customers in the medium and lower income groups. With growing awareness of better home décor, the consumers demand products that are antique and unique alongside providing some additional feature in the betterment of home utilities. Bookends being one of such has attracted number of customers and fueling the market growth.
Furthermore, with growing disposable incomes the trend of expensive homes with ornamental accessories is on the rise. As a result, with the arrival of such residential and commercial infrastructures demand for premium quality bookends built from various different stones and other wooden materials is likely to skyrocket.
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USA and Canada Bookends Market Outlook
A primary driving element fueling the adoption of bookends in the USA and Canada regions is the high preference of customers for daily commodities over the traditional methods. Developing regions in places such as the USA, as well as consumer demand for better quality accessories has fueled the sales volume of bookends. Furthermore, in recent years, there has been a reasonable demand for such commodities due to the vast product offering by players in different sizes and shapes for improved aesthetics in the USA and Canada.
One of the major trends in the USA and Canada region that is attracting customer attention is the shift from classic to contemporary products offered by players. Sparkling Hues Gems Pvt Ltd., for example, offers a wide range of antique styles, and its Casa Décor is aesthetic in design and complements the minimalism aesthetic with its finishes.
Europe Demand Outlook for Bookends
The European commercial market is likely to be the largest and fastest-growing category in the future years. Many businesses now sell premium and luxury bookends designed exclusively for high-end residential and educational locations. The rising popularity of home remodeling and, as a result, the adoption of fashionable and sophisticated accessories is expected to boost market demand.
During the forecast period, the introduction of animal figure and special character bookends, with the goal of ensuring fulfillment of customer demands with better quality products, is likely to boost the expansion of the bookends market. Due to the rise of educational institutes, which leads to an increase in the construction of libraries, reading areas, and study areas, the bookends market is getting a lot of traction in the region.
Who are the Key Manufacturers and Suppliers of Bookends?
Some of the leading manufacturers and suppliers of bookends include
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
