FEATURED COMPANIES
- Arts Industries
- Asian Handicraft
- Crafts
- Fakih Group of Companies
- Native Crafts
- NGOC Dong Ha Nam
The global handicrafts market size reached US$ 680 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 1,252 Billion by 2027, exhibiting a CAGR of 10.41% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Handicrafts refer to products that are handmade using simple tools and represent the culture and traditions of a country or region. Their production requires considerable hand-eye coordination and intense concentration. Each handcrafted product is unique as each craftsperson applies their strength differently, owing to which every product has distinct qualities. Handicrafts play a vital role in the economic development of a country as they are a prominent medium for foreign exchange revenue, require low capital investments and offer employment opportunities. In addition, handicraft items are perceived as a symbol of status owing to their uniqueness, quality, usage of natural materials, and the essence of vibrant art and culture.
In recent years, with the emergence of online retail and the proliferation of various e-commerce channels, the accessibility to handicrafts has become more convenient for consumers. This has provided a boost to the sales of handcrafted goods across the globe. Another factor driving the market growth is the shift from ethnic to contemporary designs, coupled with the strong demand from offices, hospitals and hotels. Apart from this, the growing travel and tourism industry has provided vast opportunities to local artisans and handicraft manufacturers to produce commoditized products and sell them to tourists who are willing to spend significantly on souvenirs and other craft items. Moreover, handicrafts have lower energy requirements, unlike machine-made products which involve the utilization of electricity and various other fuels. On account of the low capital investments, the industry is flourishing, particularly in the developing regions such as India, China, and Afghanistan.
The publisher provides an analysis of the key trends in each sub-segment of the global handicrafts market, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on product type, distribution channel and end use.
On the basis of the product type, woodware currently represents the most popular type of handicraft products across the globe. These woodwares are also used in the manufacturing of kitchenware, decorative materials, toys, etc.
The majority of the handicrafts are distributed through mass retailers, also known as discounters, who sell a wide variety of products at lower than conventional prices.
At present, the residential sector dominates the market and is further categorized into home accessories, furniture, jewelry, home textiles and others.
Region-wise, North America exhibits a clear dominance in the market as consumers in the region are willing to spend substantially on handicrafts, including handmade jewelry, apparel and handcrafted home accessories.
1. What is the size of the global handicrafts market?
2. What has been the impact of COVID-19 on the global handicrafts market?
3. What is the expected growth rate of the global handicrafts market?
4. What are the key factors driving the global handicrafts market?
5. What is the breakup of the global handicrafts market based on the product type?
6. What is the breakup of the global handicrafts market based on the distribution channel?
7. What is the breakup of the global handicrafts market breakup based on the end use?
8. What are the key regions in the global handicrafts market?
9. Who are the key companies/players in the global handicrafts market?
Handicrafts refer to products that are handmade using simple tools and represent the culture and traditions of a country or region. Their production requires considerable hand-eye coordination and intense concentration. Each handcrafted product is unique as each craftsperson applies their strength differently, owing to which every product has distinct qualities. Handicrafts play a vital role in the economic development of a country as they are a prominent medium for foreign exchange revenue, require low capital investments and offer employment opportunities. In addition, handicraft items are perceived as a symbol of status owing to their uniqueness, quality, usage of natural materials, and the essence of vibrant art and culture.
Handicrafts Market Trends:
In recent years, with the emergence of online retail and the proliferation of various e-commerce channels, the accessibility to handicrafts has become more convenient for consumers. This has provided a boost to the sales of handcrafted goods across the globe. Another factor driving the market growth is the shift from ethnic to contemporary designs, coupled with the strong demand from offices, hospitals and hotels. Apart from this, the growing travel and tourism industry has provided vast opportunities to local artisans and handicraft manufacturers to produce commoditized products and sell them to tourists who are willing to spend significantly on souvenirs and other craft items. Moreover, handicrafts have lower energy requirements, unlike machine-made products which involve the utilization of electricity and various other fuels. On account of the low capital investments, the industry is flourishing, particularly in the developing regions such as India, China, and Afghanistan.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global handicrafts market, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on product type, distribution channel and end use.
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
On the basis of the product type, woodware currently represents the most popular type of handicraft products across the globe. These woodwares are also used in the manufacturing of kitchenware, decorative materials, toys, etc.
Breakup by Distribution Channel:
- Mass Retailers
- Departmental Stores
- Independent Retailers
- Specialty Stores
- Online Stores
- Others
The majority of the handicrafts are distributed through mass retailers, also known as discounters, who sell a wide variety of products at lower than conventional prices.
Breakup by End Use:
- Residential
- Commercial
At present, the residential sector dominates the market and is further categorized into home accessories, furniture, jewelry, home textiles and others.
Regional Insights:
- Asia-Pacific
- North America
- Europe
- Middle East and Africa
- Latin America
Region-wise, North America exhibits a clear dominance in the market as consumers in the region are willing to spend substantially on handicrafts, including handmade jewelry, apparel and handcrafted home accessories.
Competitive Landscape:
The global handicrafts market is fragmented in nature with the presence of a large number of small and big manufacturers. Some of the leading players operating in the market are:
- Asian Handicraft
- Fakih Group of Companies
- Shandong Laizhou Arts and Crafts
- Ten Thousand Villages
- Oriental Handicrafts Pte. Ltd.
- NGOC Dong Ha Nam
- Minhou Minxing Weaving Co. Ltd.
- Native Crafts and Arts Industries
Key Questions Answered in this Report
1. What is the size of the global handicrafts market?
2. What has been the impact of COVID-19 on the global handicrafts market?
3. What is the expected growth rate of the global handicrafts market?
4. What are the key factors driving the global handicrafts market?
5. What is the breakup of the global handicrafts market based on the product type?
6. What is the breakup of the global handicrafts market based on the distribution channel?
7. What is the breakup of the global handicrafts market breakup based on the end use?
8. What are the key regions in the global handicrafts market?
9. Who are the key companies/players in the global handicrafts market?
Frequently Asked Questions about the Global Handicrafts Market
What is the estimated value of the Global Handicrafts Market?
What is the growth rate of the Global Handicrafts Market?
What is the forecasted size of the Global Handicrafts Market?
Who are the key companies in the Global Handicrafts Market?
Note: Product cover images may vary from those shown
FEATURED COMPANIES
- Arts Industries
- Asian Handicraft
- Crafts
- Fakih Group of Companies
- Native Crafts
- NGOC Dong Ha Nam
1 Preface3 Executive Summary
2 Scope and Methodology
4 Introduction
5 Global Handicrafts Market
6 Market Breakup by Product Type
7 Market Breakup by Distribution Channel
8 Market Breakup by End-Use
9 Market Breakup by Region
10 Techniques Used for Manufacturing Handicrafts
11 Competitive Landscape
12 Key Player Profiles
List of Figures
List of Tables
Note: Product cover images may vary from those shown
- Asian Handicraft
- Fakih Group of Companies
- Shandong Laizhou Arts
- Crafts
- Ten Thousand Villages
- Oriental Handicrafts Pte. Ltd.
- NGOC Dong Ha Nam
- Minhou Minxing Weaving Co. Ltd.
- Native Crafts
- Arts Industries
Note: Product cover images may vary from those shown
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