The latest research study “Handicrafts Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global handicrafts market size reached US$ 680 Billion in 2021. Handicrafts are handmade products that are intricately prepared using simple tools instead of machines. They are an artistic representation of a culture or tradition and require intense concentration during production. They are generally made using materials, such as wood, beads, textiles, sheet metal, river stone, natural fiber, wrought iron, horn and bone, and ceramics. As handicrafts require low capital investments, provide employment opportunities to artisans and act as a prominent means for foreign exchange revenue, they play a pivotal role in the overall growth of an economy. Besides this, they are also perceived as a status symbol for consumers, on account of their quality and uniqueness.
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Global Handicraft Market Trends:
One of the key factors bolstering the handicrafts market growth is the escalating demand for handmade decor items, especially in homes, offices, restaurants and other commercial places. In line with this, the burgeoning e-commerce sector, in confluence with the proliferation of various online retail channels, is also boosting the sales of handicrafts across the globe. Apart from this, the flourishing travel and tourism sector is offering opportunities to local artisans to prepare commoditized products and selling them to tourists who are willing to expend on souvenirs and other craft items. Furthermore, unlike machine-made products that involve the utilization of electricity and other fuels, handicrafts have low energy requirements, which is anticipated to contribute to the market growth in the coming years. Looking forward, the market expects to reach US$ 1,252 Billion by 2027, exhibiting at a CAGR of 10.41% during 2022-2027.
Note: 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.
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of the key players being
- Asian Handicrafts Pvt. Ltd.,
- Fakih Group of Companies Pvt. Ltd.,
- Shandong Laizhou Arts and Crafts Imp. & Exp. Co. Ltd.,
- Ten Thousand Villages,
- Oriental Handicrafts Pte. Ltd.,
- Ngoc Dong Ha Nam Co. Ltd.,
- Fujian Minhou Minxing Weaving Co. Ltd.
- Native Crafts and Arts Industries.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally, and our estimates about the latest market trends and forecasts, are being done after considering the impact of this pandemic.
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Global Handicraft Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global handicrafts market report, along with forecasts for growth at the global and regional level from 2022-2027. Our report has categorized the market based on product type, distribution channel, and end use.
Market Breakup 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
Market Breakup by Distribution Channel:
- Mass Retailers
- Departmental Stores
- Independent Retailers
- Specialty Stores
- Online Stores
- Others
Market Breakup by End Use:
- Residential
- Commercial
Regional Insights:
- 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
If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Handicrafts Market Report Scope | |
Report Coverage | Details |
Market size value in 2021 | US$ 680 Billion |
Market forecast in 2027 | US$ 1,252 Billion |
Growth Rate | CAGR of 10.41% from 2022 to 2027 |
Base year for estimation | 2021 |
Historical data | 2016-2021 |
Forecast period | 2022-2027 |
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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