Global Handicraft Market Size Study & Forecast, by Product (Woodworks, MetalArtworks, Handprinted Textiles & Embroided Goods, Imitation Jewelry, Others), by End-user (Residential, Commercial), by Distribution Channel (Specialty Stores, Independent Stores,

Global Handicraft Market Size Study & Forecast, by Product (Woodworks, MetalArtworks, Handprinted Textiles & Embroided Goods, Imitation Jewelry, Others), by End-user (Residential, Commercial), by Distribution Channel (Specialty Stores, Independent Stores, Online stores, Others), and Regional Analysis, 2023-2030

Global Handicraft Market is valued at approximately USD 915.93 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 10.08% over the forecast period 2023-2030. Handicraft includes a wide range of handmade or handcrafted objects or products created by skilled artisans or craftspersons. These items primarily encompass textiles, pottery, glassware, paper goods, wooden creations, metal and silver pieces, and a myriad of other crafts. The rising trend of travel, enabling consumers to experience diverse cultures and their indigenous handicrafts, is anticipated to fuel the Handicraft Market. Additionally, the surge in construction activities, both commercial and residential, is encouraging the trend of embellishing homes with distinctive and artistic handicrafts.

In addition, rising disposable incomes and a growing middle class, along with the growing demand for sustainable and ethical products are playing a vital role in the market demand across the globe.

Also, the availability of handicrafts has become increasingly convenient for consumers due to the trend of online retail and the proliferation of various online platforms, which has significantly amplified the global sales of handicraft products. With the rise of e-commerce, access to a global audience has been democratized. Specialized platforms for handmade and vintage items provide a centralized marketplace where artisans can exhibit their creations to a worldwide customer base. These platforms often manage various aspects of the transaction process, including secure payment gateways and, in some cases, shipping logistics, allowing artisans to concentrate on their craft. According to Statista, in 2015 the global retail e-commerce sales were USD 1,548 billion and the number is anticipated to reach USD 8,148 billion by 2026. Moreover, the user-friendly and secure nature of these digital platforms encourages more artisans to transition their businesses online. In addition to this, e-commerce offers valuable tools for detailed analytics, offering artisans valuable insights into customer behavior and emerging market trends. When combined, these factors underscore the profound impact of e-commerce platforms on the expansion of the handicrafts market. Furthermore, the rising interest in handmade and DIY, as well as the augmenting trend of tourism activities present various lucrative opportunities over the forecast years. However, the fluctuations in the raw material prices and the competition from mass-produced goods are challenging the market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Handicraft Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific is a dominating the market in 2022 primarily due to the escalating production of handmade and craft products in countries such as India, China, Bangladesh, and so on. Furthermore, the presence of esteemed artisans and manufacturers of handmade products, as well as growing awareness of cultural heritage and tradition in these nations creates highly promising opportunities for the Asia Pacific market. Whereas, North America is expected to grow at a significant CAGR over the forecast years. Growing awareness of cultural heritage and tradition, growth of online marketplaces, and increasing tourism are significantly propelling the market demand across the region.

Major market players included in this report are:
Asian Handicrafts Pvt. Ltd. (India)
Fakih Group of Companies (UAE)
Laizhou Zhonghe Arts & Crafts Co. Ltd. (China)
Ten Thousand Villages (U.S.)
Fujian 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)

Recent Developments in the Market:
 In June 2023, Amazon's brand Amazing Home released its line of furniture and home décor products to provide consumers with stylish home décor options.
 In January 2023, Target, a major U.S. retailer, introduced a range of home accessories, such as tables and rugs, in collaboration with designers from Hearth & Hand with Magnolia, Opalhouse designed with Jungalow, and Threshold with Studio McGee.
 In September 2022, Crate & Barrel, a furniture retailer based in the United States, entered a partnership with renowned interior designer Athena Calderone to create its own home collection of furnishings, textiles, glassware, and other home décor items.

Global Handicraft Market Report Scope:
Historical Data – 2020 - 2021
Base Year for Estimation – 2022
Forecast period - 2023-2030
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered - Product, End-user, Distribution Channel, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product:
Woodworks
MetalArtworks
Handprinted Textiles & Embroided Goods
Imitation Jewelry
Others

By End-user:
Residential
Commercial

By Distribution Channel:
Specialty Stores
Independent Stores
Online stores
Others

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa



Companies Mentioned
Asian Handicrafts Pvt. Ltd. (India)
Fakih Group of Companies (UAE)
Laizhou Zhonghe Arts & Crafts Co. Ltd. (China)
Ten Thousand Villages (U.S.)
Fujian 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)

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