Indian Handicrafts Market Size Expected to Reach US$ 6,218.4 Million by 2028

According to the new market research report by IMARC Group, the India handicrafts market size reached US$ 3,968.0 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 6,218.4 Million by 2028, exhibiting a growth rate (CAGR) of 7.7% during 2023-2028.

Handicrafts, also called artisanry, refer to unique artifacts that represent the tradition, culture, heritage, etc., of the country. They are handmade products that are manufactured completely by hand or using simple non-automated tools, including scissors, carving equipment, hooks, etc., instead of machines. Many handcrafters use natural and fully indigenous materials, while others prefer modern materials, such as sheets, wood, metals, beads, stones, wrought iron, textiles, paper, ceramics, etc. Handicrafts play an essential role in economic development as they provide employment opportunities. In line with this, they exhibit distinct qualities and are perceived as a status symbol.

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India Handicrafts Market Trends:

Continuous advancements in the accessibility of these products on numerous online portals are among the key factors stimulating the India handicrafts market. Moreover, the expanding travel and tourism sector in the country is acting as another significant growth-inducing factor. Besides this, tourists are spending a considerable amount on purchasing souvenirs and other craft items, thereby increasing the scope for artisans and craftsmen to produce and sell efficient handicrafts, which is augmenting the market growth.

Furthermore, the escalating demand for handmade decor accessories in homes, offices, restaurants, etc., and the inflating popularity of handicrafts in the gifting sector are also propelling the market growth across India. Apart from this, the rising disposable income levels of individuals and the increasing willingness among consumers to invest in vintage and high-quality handicraft goods are further bolstering the market growth. Additionally, they are an essential source of massive exports and potential foreign exchange, which is expected to fuel the India handicrafts market over the forecasted period.

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The report cover the below key market segments:

Market Segmentation 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 Segmentation By Distribution Channel:

Mass Retailers
Departmental Stores
Independent Retailers
Specialty Stores
Online Stores
Others

Market Segmentation By End Use:

Residential
Commercial

By Region:

North India
West and Central India
South India
East India

Top Indian Handicrafts Companies - https://www.imarcgroup.com/top-indian-handicrafts-companies

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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