Handicraft Market Size, Share, Growth, Statistics, Forecast, 2032

The global handicraft market size was valued at USD 915.93 billion in 2022 and is expected to be worth USD 1,007.07 billion in 2023. The market is projected to reach USD 1,972.32 billion by 2030, recording a CAGR of 10.08% during the forecast period.

Handicrafts refer to products that are made by hand and use traditional materials and techniques to produce them. Some of the popular examples of these products include pottery, textiles, paper products, glassware, metal & silver products, woodworks, and many others. Since the travel and tourism activities have skyrocketed in recent years, especially after the COVID-19 pandemic era, the demand for handmade products has also gone up. This is because tourists are seeking unique souvenirs to make their trips memorable. These factors are anticipated to bolster the global handicraft market growth.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐚 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/handicraft-market-108435

𝐋𝐢𝐬𝐭 𝐨𝐟 𝐭𝐡𝐞 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐎𝐩𝐞𝐫𝐚𝐭𝐢𝐧𝐠 𝐢𝐧 𝐭𝐡𝐞 𝐌𝐚𝐫𝐤𝐞𝐭:

▶ Asian Handicrafts (India)
▶ Fakih Group of Companies (UAE)
▶ Laizhou Zhonghe Arts & Crafts Co. Ltd. (China)
▶ Ten Thousand Villages (U.S.)
▶ Minhou Minxing Weaving Co. Ltd. (China)
▶ The India Craft House (India)
▶ Creative Expressions (U.K.)
▶ PT Harmoni Jaya Kreasi (Indonesia)
▶ Gangga Sukta (Indonesia)
▶ PT Fuzen Decor Bali (Indonesia)

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧:
Aesthetic Appeal Offered by Wooden Handicrafts to Boost Adoption of Woodwork Products

Based on product type, the global market is segregated into woodworks, metal artworks, hand-printed textiles & embroidered goods, imitation jewelry, and others. The woodworks segment is estimated to capture the largest handicraft market share as these products offer great aesthetic appeal and are quite durable.

Growing Home Renovation Activities to Augment Use of Handmade Products in Residential Sector

Based on end-user, the market is divided into residential and commercial. The residential segment is expected to dominate the market as the number of home renovation and interior decoration activities have increased in recent years. These products are used to elevate the aesthetic appearance of homes or add a quirky element to a space.

Vast Range and Easy Availability of Quality Products to Increase Customer Preference for Specialty Stores

Based on distribution channel, the market has been divided into specialty stores, independent retailers, online stores, and others. The specialty store segment is estimated to lead the market growth as these stores have a wide range of high-quality products that give customers a vast collection to choose from.

With respect to region, the market covers North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

𝐑𝐞𝐩𝐨𝐫𝐭 𝐂𝐨𝐯𝐞𝐫𝐚𝐠𝐞:
The report conducts a detailed analysis of the market and focuses on crucial areas, such as prominent product types, leading companies, top application areas, and sales channels. It also delivers valuable insights into the latest market trends and covers significant industry developments. Besides the aspects mentioned earlier, the report highlights several factors contributing to the market's growth in recent years.

𝐆𝐞𝐭 𝐚 𝐐𝐮𝐨𝐭𝐞- https://www.fortunebusinessinsights.com/enquiry/get-a-quote/handicraft-market-108435

𝐃𝐫𝐢𝐯𝐞𝐫𝐬 𝐚𝐧𝐝 𝐑𝐞𝐬𝐭𝐫𝐚𝐢𝐧𝐭𝐬:
Rise in Tourism Activities to Accelerate Market Growth

The trend of tourism activities has witnessed a strong growth in recent years, especially after the COVID-19 pandemic period. This factor has driven the demand for handmade items. Many tourists traveling to different countries or states always look for unique and locally made products that reflect the culture of that nation. Collecting these souvenirs can help them commemorate their travel experiences. Handmade textiles, ceramic products, traditional jewelry, and other heritage products are widely bought by tourists. These aspects are predicted to fuel the market progress.

However, unstable raw material prices can hinder the market development.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬:
Asia Pacific Market to Grow Rapidly With Rising Production of Handmade and Indigenous Products

Asia Pacific held the largest share in the global market as the production of handmade and craft items has increased in countries, such as India, China, Bangladesh, and many others. The region also has a vast presence of well-established handicraft manufacturers and artisans, which will help the regional market grow.

North America is expected to hold the second-largest market share as the region is raising its volume of import of handmade goods from nations, such as India and China.

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞:
Government Initiatives to Support Small-Scale Producers to Strengthen Market Potential

Governments across the world are adopting a wide range of strategies and measures to ensure adequate support for small-scale manufacturers of handmade products. They are providing strong financial assistance to small-scale artisans through grants, loans, and subsidies. They are also increasing their investments in infrastructural development to develop dedicated art & craft centers. These efforts will help the global handicraft market grow.

𝐁𝐫𝐨𝐰𝐬𝐞 𝐃𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐮𝐦𝐦𝐚𝐫𝐲: https://www.fortunebusinessinsights.com/handicraft-market-108435

𝐊𝐞𝐲 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭:
May 2023 - Pottery Barn, an American home furnishing company, collaborated with Ayesha Curry, a renowned Hollywood celebrity, to unveil its set of new home collection, ranging from tableware to bedding products.

𝐑𝐞𝐥𝐚𝐭𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬-
https://www.fortunebusinessinsights.com/art-craft-tools-market-104458
https://www.fortunebusinessinsights.com/carpets-rugs-market-104509
https://www.fortunebusinessinsights.com/home-textile-products-market-104981

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This release was published on openPR.