India Handicrafts Market to Expand at a CAGR of 7.8% Over 2022-2027 - IMARC Group

According to IMARC Group latest published report, titled "India Handicrafts Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," that The handicrafts market in India is expected to exhibit a CAGR of 7.8% during 2022-2027.

India Handicrafts Market Trends:

The growing travel and tourism, the rising disposable income levels, and the introduction of contemporary and high-quality designs are among the key factors stimulating the India handicrafts market. Furthermore, the increasing consumer expenditure capacities on purchasing souvenirs and other craft items are providing opportunities for local artisans and craftsmen to produce customized and sell efficient products, which is also propelling the market growth.

Apart from this, continuous advancements in the accessibility of handicraft items on numerous online and offline portals are acting as significant growth-inducing factors. Moreover, the escalating demand for handmade decor accessories in homes, offices, buildings, restaurants, etc., is further catalyzing the market growth across the country. Besides this, they require low capital investments and offer various employment opportunities to individuals, which is expected to fuel the India handicrafts market over the forecasted period.

Covid-19 Scenario:

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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Industry Definition and Application:

Handicrafts represent unique artifacts that are either handmade or made by using simple tools instead of machines. They portray the traditional, cultural, artistic values, etc., of a place or country. Handicrafts consist of woodware, art metalware, handprinted textiles and scarves, embroidered and crocheted goods, imitation jewelry, sculptures, pottery and glass wares, attars, etc. They are manufactured from natural materials, such as sheet metal, wood, natural fibers, beads, stones, wrought iron, textiles, paper, ceramics, etc. Handicrafts add aesthetic as well as decorative value. In line with this, they are a prominent means for foreign exchange revenue and are perceived as a symbol of status. Consequently, handicrafts are gaining extensive popularity in India.

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The report cover the below key market segments:

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 Region:

North India
West and Central India
South India
East India
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

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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