MENA’s Budding Edu Sector Boosts Stationery Industry
A recent study conducted by global market research and consulting firm 6Wresearch has shown that the rising number of schools and universities in the Middle East and Africa has stimulated growth in the region’s stationery market. This upward industry trend is likely to be a significant topic of discussion at Paperworld Middle East, which takes place from 21-23 November, 2023, at Dubai World Trade Centre.
Commenting on the significance of the education sector boom, Syed Ali Akbar, Show Director of Paperworld Middle East and Gifts & Lifestyle Middle East, says, “In 2022, the education sector accounted for 63.5% of stationery market revenue in the Middle East and Africa, and we have observed a correlation between the expansion of the education industry and growth in the stationery market. With increased government spending on education and rising investment from private firms across the region, the stationery market is expected to see continued growth.”
In October 2022, global investment house Safanad and international education platform Global School Management announced a joint plan to invest an initial $200 million in the Middle East and North Africa (MENA) region, leading to an immediate increase in student enrolment by 10,000. In addition, the UAE government has also steadily increased budget allocation to education since 2020.
This year, the GCC region has seen an average increase of 13.3% in expenditure on education, up from 13.1% in 2020. Saudi Arabia is expected to have the largest education market size between 2022 and 2027, with an estimated allocation of $50 billion for the sector in 2023. Additionally, Kuwait and the UAE are projected to experience higher growth rates in student numbers compared to other Gulf countries.
According to the report, the stationery market revenue in the Middle East was $6.4 billion in 2022. The UAE held the largest market share in the Middle East stationery market revenues last year, accounting for 26.7%, followed by Saudi Arabia, Turkey, Qatar, and Kuwait. The report predicts a growth in revenue in the Middle East region at a CAGR of 4.2% for the forecast period from 2023 to 2029.
Akbar adds, “As distributors, retailers, wholesalers, and franchise owners in the international stationery sector gear up for Paperworld Middle East, the latest figures bring a significant sense of optimism for the years ahead, particularly in the MENA region. Over the course of three days, the exhibition will share the latest market insights and industry opportunities among a global community of over 100 nations, setting the tone for the year ahead.”
Now in its 12th year, Paperworld Middle East is the largest international trade show for paper, stationery, arts and crafts, office supplies, and school products. Co-located with Gifts & Lifestyle Middle East, the dual events will be 50% larger than last year and expected to attract over 10,000 visitors. Paperworld Middle East will feature over 490 exhibitors from 40 countries.
