The global handicrafts market size reached US$ 752.2 Billion in 2022. Looking forward, the market expected to reach US$ 1,296.6 Billion by 2028, exhibiting a growth rate (CAGR) of 9.1% during 2023-2028, according to the latest published report by IMARC Group.
what is handicrafts industry
Handicrafts, also called artisanry and handcrafting, represent unique artifacts representing the culture, tradition, and heritage of a nation or region. They generally comprise pottery, beadwork, wood crafting, macrame, tapestry, embroidery, sculpturing, meal work, paper modeling, rug making, shoe making, glass etching, etc.
Handicrafts include a wide array of products that are prepared either entirely by artisans or with the help of specialized machines and tools. They have creative, decorative, traditional, aesthetic, utilitarian, artistic, functional, cultural, social, and religious. These products are a prominent medium for foreign exchange revenue. Handicrafts require low capital investments and offer employment opportunities to local artisans. They also serve as an effective method of income for various indigenous communities, homemakers, women, etc.
Handicrafts Market Trends and Drivers:
The growing demand for unique handmade décor items in restaurants, homes, offices, cafes, etc., to enhance the overall aesthetic of spaces and add a certain ethnic touch to the decorations is primarily driving the handicrafts market. Additionally, they are unique and show the true essence of efficient craftsmanship, which is further catalyzing the market growth. Besides this, the inflating popularity of gifting handicraft products on numerous occasions is acting as another significant growth-inducing factor. Moreover, government bodies across countries are organizing exhibitions and fairs to provide an opportunity for several local artisans and indigenous communities to showcase their work and sell them to buyers for reasonable prices, thereby positively influencing the global market. Apart from this, the rising number of artisans who are utilizing e-commerce websites for selling these authentic items is anticipated to fuel the handicrafts market over the forecasted period.
Download a free sample report to get a detailed overview of the report: https://www.imarcgroup.com/handicrafts-market/requestsample
The report cover the below key market segments:
Product Type Insights:
- Woodware
- Artmetal Ware
- Handprinted Textiles and Scarves
- Embroidered and Crocheted Goods
- Zari and Zari Goods
- Imitation Jewelry
- Sculptures
- Pottery and Glass wares
- Attars and Agarbattis
- Others
Distribution Channel Insights:
- Mass Retailers
- Departmental Stores
- Independent Retailers
- Specialty Stores
- Online Stores
- Others
- End-Use Insights:
- Residential
- Commercial
Regional Insights:
- Asia-Pacific
- North America
- Europe
- Middle East and Africa
- Latin America
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global handicrafts market. Some of the handicraft manufacturers covered in the report include:
- Asian Handicraft
- Fakih Group of Companies
- Shandong Laizhou Arts and Crafts Imp & Exp Co. Ltd.
- Ten Thousand Villages
- Oriental Handicrafts Pte. Ltd.
- NGOC Dong Ha Nam
- Minhou Minxing Weaving Co. Ltd.
- Native Crafts and Arts Industries
Latest Market Research Reports:
India Handicrafts Market: https://bit.ly/3JW495j
United States Handicrafts Market: https://bit.ly/3FI4VAu
Asia Pacific Handicrafts Market: https://bit.ly/3FFcfgi
Europe Handicrafts Market: https://bit.ly/3Z8WbtQ
Media Contact
Company Name: IMARC Group
Contact Person: Elena Anderson
Email: Send Email
Phone: +1-631-791-1145
Address:134 N 4th St.
City: Brooklyn
State: NY
Country: United States
Website: https://www.imarcgroup.com