Handicrafts Market Is Estimated To Expand At A Healthy CAGR In The Upcoming Forecast Period 2019-2024

The global handicrafts market has been up surging, due to the increasing interest of people in art and culture. A large number of micro and small enterprises have evolved in the developing countries in the past few years, where artisans from poor communities are involved in the creation of handicrafts. Their artworks are also valued on humanitarian grounds.

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Handicrafts refer to products made by hand, with the help of simple tools instead of machines. Handicrafts are artistic representation of a particular culture or ethnic tradition. Handicraft products include objects of utility and decoration.

Handicraft products are made up of several materials including sheet metal, wrought iron, natural fiber, wood, river stone, beads, textiles, horn and bone, and ceramics. On the basis of type, the global textile market can be classified into kitchenware, gardenware, toys, officeware, furniture and furnishings, jewelry, bathroom accessories, and others.

The artisans work independently, as well as they are subcontracted or employed by exporters or small enterprises. Owing to less initial investment and cheap labor, the handicraft market is flourishing in the developing countries, such as India.

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With the advancement in distribution channels and increasing penetration of online retail, the handicraft products have become more visible and easily purchasable for the consumers around the globe. The key types of distribution channels for handicraft products are discount retailers, department stores, specialty stores, catalogue retailer, internet retailer, and independent retailer.

The demand for handicrafts from offices, hospitals, hotels have been observed to upsurge in the past decade, as the traditional and hand-made goods add color to the decorum of these places and attract customers.

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The global handicrafts market is trade driven, due to low priced products. The key handicraft vendors in the global handicrafts market are Asian Handicrafts, Fakih Handicrafts, Shandong Laizhou Arts and Crafts, Ten Thousand Villages, Native Crafts and Arts, The Handicrafts Gallery, Minhou Minxing Weaving, NGOC Dong Ha Nam, and Oriental Handicrafts.

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