Handicrafts Market Outlook
According to a new report by Expert Market Research titled, “Handicrafts Market Size, Share, Analysis, Report and Forecast 2024-2032″, reached a value of approximately USD 704.7 billion in 2023. Aided by the escalating demand for personalised and unique products and the emergence of online retail and various e-commerce channels, the market is projected to further grow at a CAGR of 11.8% between 2024 and 2032 to reach a value of USD 1376.12 billion by 2032.
Handicrafts are products that are made manually without the use of automated machinery. They often represent cultural and traditional artistry of various societies and are made from materials like wood, jute, clay, metal, textiles, and more. Apart from being utilised as decorative items, handicrafts are also used in creating fashion accessories, furniture, and gifts, making them valuable commodities in various sectors including home décor, fashion, and tourism.
The surging consumer preference for unique and personalised products is driving the global handicrafts market growth. With growing awareness and appreciation for cultural heritage and artisanal creativity, there has been a significant shift towards handicraft products. Additionally, the rising trend of sustainable and ethically-produced goods has further bolstered the popularity of handicrafts, as these items are often made from natural, recycled or upcycled materials, and they support local artisans and communities.
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The widening applications of handicrafts in various sectors also play a substantial role in fuelling the handicrafts market expansion. In the home décor industry, handicrafts are prized for their aesthetic appeal and uniqueness, used as statement pieces that add a touch of culture and personality to spaces. Moreover, the growing demand for sustainable and ethically produced goods has led to an increased focus on handicrafts. As consumer consciousness about environmental impact and fair-trade practices rises, handicrafts — often made using eco-friendly materials and traditional techniques — have gained attention as an ethical, sustainable choice.
Moreover, the growing demand for sustainable and ethically produced goods has led to an increased focus on handicrafts. As consumer consciousness about environmental impact and fair-trade practices rises, handicrafts — often made using eco-friendly materials and traditional techniques — have gained attention as an ethical, sustainable choice, increasing the global handicrafts market demand.
Handicrafts Market Market Segmentation
The market can be divided based on product, end user, distribution channel, and region.
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Market Breakup by Product
- Woodware
- Artmetal Ware
- Handprinted Textiles and Scarves
- Embroidered and Crocheted Goods
- Zari and Zari Goods
- Imitation Jewellery
- Sculptures
- Pottery and Glassware
- Attars and Agarbattis
- Others
Market Breakup by End User
- Residential
- Commercial
Market Breakup by Distribution Channel
- Mass Retailers
- Departmental Stores
- Independent Retailers
- Online Stores
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global handicrafts companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Asian Handicrafts Pvt. Ltd.
- Native Crafts and Arts, Inc.
- Fakih Group of Companies
- Gangamani Fashions (Art & Crafts)
- HN Handicrafts
- S. N. Handicrafts
- Unique Handicrafts Ltd
- Vietnam Handicraft Co., Ltd
- Haswani Handicrafts
- Sushil Craft
- Others
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