In 2022, the stationery market revenue in the Middle East reached $6.4 billion, and $4.34 billion in Africa. The UAE led in Middle East stationery market revenues. A recent study by 6WResearch highlighted this remarkable growth of the stationery market in the Middle East and Africa (MENA). It attributed this surge to the expansion of the education sector in the MENA region.
According to the study, the UAE accounted for 26.7 percent of the stationary market’s revenues. Following it is Saudi Arabia, Turkey, Qatar, and Kuwait. Meanwhile, in Africa, South Africa held a quarter of the market share, mainly due to rising school enrollments. It was followed by Nigeria, Kenya, Ethiopia, and other states.
The report predicts further growth in the coming years. Middle East revenues are expected to grow at a Compound Annual Growth Rate (CAGR) of 4.2 percent from 2023 to 2029. On the other hand, Africa’s revenues are projected to rise at a CAGR of 3.6 percent.
Stationery market growth factors
The education sector has proven to be the catalyst behind the growth of the stationery market in the MENA region. According to the report, the education sector accounted for 63.5 percent of stationery market revenue in the MENA region in 2022.
The statistics reflect a clear link between the two sectors. With increased government spending on education and rising investments, the stationery market will witness increased growth.
Read: Investing in minds: The imperative for quality education amid challenges
Strategic investments in education
One of the notable investments in this sector is the joint plan by global investment house Safanad and the international education platform Global School Management. Their initial $200 million investment in the MENA region led to an immediate increase in student enrollment by 10,000.
Moreover, the UAE government has consistently raised budget allocations for education since 2020. Education expenditure in the GCC region witnessed an increase of 13.3 percent in 2023, up from 13.1 percent in 2020. Saudi Arabia will lead with a staggering estimated allocation of $50 billion for the sector in 2023. Meanwhile, Kuwait and the UAE will experience higher growth rates in student numbers compared to other Gulf countries.
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