According to IMARC Group latest published report, titled “Handicrafts Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” Offers a comprehensive analysis of the industry, which comprises insights on handicrafts market Report
Handicrafts Market Overview:
The global handicrafts market reached a value of US$ 680.10 Billion in 2021. Handicrafts are unique artifacts handmade or made using simple tools without the help of machinery. They include utility and decorative items that showcase the vibrant tradition and culture of a country or community. Their manufacturing requires extreme concentration and considerable visuospatial cognition to enhance artistic, functional, aesthetic, and decorative values. Additionally, they require less energy consumption and low capital investments, offer employment opportunities to individuals, and generate foreign exchange revenue. As a result, handicrafts are widely used as office ware, kitchenware, garden ware, furniture, puppets, pottery, and jewelry across the globe.
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Handicrafts Market Trends:
Inflating income levels and the shifting consumer preference for contemporary designs and handmade and antique décor items for residential and commercial complexes represent one of the key factors positively influencing the market. Apart from this, the increasing environmental pollution level and health issues associated with the production of machine-made decorative items are catalyzing the demand for environment-friendly products made using jute, wool, and bamboo. Furthermore, expanding online distribution channels are offering seamless access to consumers, doorstep delivery, exciting offers, and virtual payment options. This, along with the thriving travel and tourism industry, is providing lucrative growth opportunities to leading handicraft manufacturers and local artisans. Looking forward, IMARC Group expects the market to reach US$ 1,252.30 Billion by 2027, exhibiting a CAGR of 10.41% during 2022-2027.
Covid-19 Impact Analysis:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Handicrafts Market Report Scope |
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Report Coverage |
Details |
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Market size value in 2021 |
US$ 680.10 Billion |
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Market forecast in 2027 |
US$ 1,252.30 Billion |
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Growth Rate |
CAGR of 10.41% from 2022 to 2027 |
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Base year for estimation |
2021 |
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Historical data |
2016-2021 |
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Forecast period |
2022-2027 |
Report Segmentation:
The report has been segmented the market into following categories:
By Product Type:
- 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
By Distribution Channel:
- Mass Retailers
- Departmental Stores
- Independent Retailers
- Specialty Stores
- Online Stores
- Others
By End Use:
- Residential
- Commercial
By Geography:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
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List of Major Key Players:
The major players in the market are Asian Handicraft, Fakih Group of Companies, SHANDONG LAIZHOU LAIYI ARTS CRAFTS IMP.- EXP.CO. Ltd., Ten Thousand Villages, Oriental Handicrafts Pte. Ltd., NGOC DONG HA NAM CO., LTD. , Minhou Minxing Weaving Co. Ltd., and Native Crafts and Arts Industries.
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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