The Asia Pacific handicrafts market size reached US$ 169.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 340.8 Billion by 2028, exhibiting a growth rate (CAGR) of 11.8% during 2023-2028.
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.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the Asia Pacific handicrafts market report, along with forecasts at the regional and country level from 2023-2028. Our report has categorized the market based on product type, distribution channel and end use.
Breakup by Product Type:
Handprinted Textiles and Scarves
Embroidered and Crocheted Goods
Zari and Zari Goods
Pottery and Glass Wares
Attars and Agarbattis
Breakup by Distribution Channel:
Breakup by End Use:
Breakup by Country:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Base Year of the Analysis
Product Type, Distribution Channel, End Use, Country
China, Japan, India, South Korea, Australia, Indonesia, Others
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Key Questions Answered in This Report
The Asia Pacific handicrafts market was valued at US$ 169.9 Billion in 2022.
We expect the Asia Pacific handicrafts market to exhibit a CAGR of 11.8% during 2023-2028.
The expanding travel and tourism industry, along with the growing adoption of handicraft items as souvenirs, owing to their uniqueness, is primarily driving the Asia Pacific handicrafts market.
The sudden outbreak of the COVID-19 pandemic has led to the changing consumer inclination from conventional brick-and-mortar distribution channels towards online retail platforms for the purchase of handicraft products across several Asia Pacific nations.
Based on the product type, the Asia Pacific handicrafts market can be divided into 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, and others. Currently, woodware holds the majority of the total market share.
Based on the distribution channel, the Asia Pacific handicrafts market has been bifurcated into mass retailers, departmental stores, independent retailers, specialty stores, online stores, and others. Among these, mass retailers currently exhibit a clear dominance in the market.
Based on the end use, the Asia Pacific handicrafts market can be segmented into residential and commercial. Currently, residential accounts for the largest market share.
On a regional level, the market has been classified into China, Japan, India, South Korea, Australia, Indonesia, and others, where China currently dominates the Asia Pacific handicrafts market.
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