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The Asia Pacific handicrafts market is currently witnessing robust growth. Handicrafts are handmade products representing the traditional, cultural and artistic values of a place or nation. They are widely utilized for decorative, functional, aesthetic and utilitarian purposes. They play a significant role in uplifting the economy of a country by contributing to its foreign exchange revenues and generating employment.
The handicrafts market is primarily driven by the rising international and domestic tourism in the Asia Pacific region, which is encouraging the local artisans and craftsmen to produce commoditized handicrafts products. Moreover, the leading handicraft companies are increasing their exports, including handlooms, carpets, textiles, and garments, which is strengthening the market growth in the region. These companies are also providing designing and processing training to the local artisans to generate market opportunities. Furthermore, the burgeoning e-commerce sector, along with initiatives undertaken by government authorities, is positively influencing the demand for handicrafts products. For instance, the Vietnamese Chamber of Commerce and Industry (VCCI) has recently launched an online portal to promote handicraft sales by providing detailed descriptions of the products and artisans in the country. On account of these factors, the market is expected to continue its robust growth during the forecast period (2021-2026).
IMARC Group provides an analysis of the key trends in each sub-segment of the Asia Pacific handicrafts market report, along with forecasts for growth at the region level from 2021-2026. Our report has categorized the market based on region, product type, distribution channel and end use.
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The competitive landscape of the industry has also been examined along with the profiles of the key players.
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