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Handicrafts Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global handicrafts market reached a value of US$ 680.10 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 1,252.30 Billion by 2027, exhibiting a CAGR of 10.41% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Handicrafts are handmade products representing the culture, values and traditions of a nation or region. They play a pivotal role in economic development as they are a prominent means for foreign exchange revenue. They are also perceived as a symbol of status on account of their uniqueness, quality, and the usage of natural materials, such as sheet metal, wood, natural fibers, beads, stones, wrought iron, textiles, paper, and ceramics.

 

 
 

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Handicrafts Market Trends:

A gradual shift towards contemporary designs, in confluence with the escalating demand for handicrafts for offices, hospitals, and hotels, represents one of the key factors propelling the growth of the market. Moreover, the accessibility of handicrafts has become more convenient for consumers on account of the growing internet penetration and the proliferation of e-commerce channels. Besides this, the thriving travel and tourism industry is providing lucrative growth opportunities to local artisans and handicrafts manufacturers for producing commoditized products and selling them to tourists who are willing to spend significantly on souvenirs and other craft items. In addition, handicrafts have lower energy requirements, unlike machine-made products, which involve the utilization of electricity and various other fuels. Apart from this, handicrafts production helps stimulate creativity and imagination, reduces stress and anxiety, and encourages communication, socialization, participation, and teamwork. Furthermore, they require low capital investments and offer various employment opportunities to individuals, which is creating a positive outlook for the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global handicrafts market report, along with forecasts for growth at the global and regional levels from 2022-2027. Our report has categorized the market based on product type, distribution channel, and end use.

Breakup 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

 

Presently, woodware represents one of the most popular types of handicrafts across the globe as they are used in the manufacturing of kitchenware, decorative materials, and toys.

Breakup by Distribution Channel:

 

 
 

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  • Mass Retailers
  • Departmental Stores
  • Independent Retailers
  • Specialty Stores
  • Online Stores
  • Others

 

Mass retailers, also known as discounters, currently dominate the market as they sell numerous products at lower than conventional prices. 

Breakup by End Use:

  • Residential
  • Commercial

 

The residential sector holds the largest market on account of the increasing usage of handicrafts in adorning homes.

Regional Insights:

 

 
 

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  • Asia-Pacific
  • North America
  • Europe
  • Middle East and Africa
  • Latin America

 

North America presently exhibits a clear dominance in the market as individuals are willing to spend more on handicrafts, including handmade jewelry, apparel and handcrafted home accessories, across the region.

Competitive Landscape:

The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are Asian Handicraft, Fakih Group of Companies, Shandong Laizhou Arts and Crafts Imp & Exp Co. Ltd., Ten Thousand Villages, Oriental Handicrafts Pte. Ltd., NGOC Dong Ha Nam, Minhou Minxing Weaving Co. Ltd., and Native Crafts and Arts Industries.
 

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Product Type, Distribution Channel, End-Use, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered Asian Handicraft, Fakih Group of Companies, Shandong Laizhou Arts and Crafts, Ten Thousand Villages, Oriental Handicrafts Pte. Ltd., NGOC Dong Ha Nam, Minhou Minxing Weaving Co. Ltd., and Native Crafts and Arts Industries
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1   Preface
2   Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
    2.6    Study Assumptions
3   Executive Summary
4   Introduction

    4.1    Overview
    4.2    Key Industry Trends
5   Global Handicrafts Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Price Analysis
        5.4.1    Key Price Indicators
        5.4.2    Price Structure
        5.4.3    Margin Analysis
    5.5    Market Breakup by Product Type
    5.6    Market Breakup by Distribution Channel
    5.7    Market Breakup by End Use
    5.8    Market Breakup by Region
    5.9    Market Forecast
    5.10    SWOT Analysis
        5.10.1    Overview
        5.10.2    Strengths
        5.10.3    Weaknesses
        5.10.4    Opportunities
        5.10.5    Threats
    5.11    Value Chain Analysis
        5.11.1    Overview
        5.11.2    Input Suppliers
        5.11.3    Handicrafts Manufacturers
        5.11.4    Distributors
        5.11.5    Retailers
        5.11.6    End Consumer
    5.12    Porter’s Five Forces Analysis
        5.12.1    Overview
        5.12.2    Bargaining Power of Buyers
        5.12.3    Bargaining Power of Suppliers
        5.12.4    Degree of Rivalry
        5.12.5    Threat of New Entrants
        5.12.6    Threat of Substitutes
    5.13    Key Success Factors
        5.13.1    Impact of Globalization
        5.13.2    Rapid Changes in Market Trends
        5.13.3    Contemporary Minimalism
        5.13.4    Growth in Online Sales
        5.13.5    Heightened Awareness of Environmental and Social Concerns
6   Market Breakup by Product Type
    6.1    Woodware
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Artmetal Ware
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    Handprinted Textiles and Scarves
        6.3.1 Market Trends
        6.3.2 Market Forecast
    6.4    Embroidered and Crocheted Goods
        6.4.1 Market Trends
        6.4.2 Market Forecast
    6.5    Zari and Zari Goods
        6.5.1 Market Trends
        6.5.2 Market Forecast
    6.6    Imitation Jewelry
        6.6.1 Market Trends
        6.6.2 Market Forecast
    6.7    Sculptures
        6.7.1 Market Trends
        6.7.2 Market Forecast
    6.8    Pottery and Glass Wares
        6.8.1 Market Trends
        6.8.2 Market Forecast
    6.9    Attars and Agarbattis
        6.9.1 Market Trends
        6.9.2 Market Forecast
    6.10    Others
        6.10.1 Market Trends
        6.10.2 Market Forecast
7   Market Breakup by Distribution Channel
    7.1    Mass Retailers
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Departmental Stores
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Independent Retailers
        7.3.1 Market Trends
        7.3.2 Market Forecast
    7.4    Specialty Stores
        7.4.1 Market Trends
        7.4.2 Market Forecast
    7.5    Online Stores
        7.5.1 Market Trends
        7.5.2 Market Forecast
    7.6    Others
        7.6.1 Market Trends
        7.6.2 Market Forecast
8   Market Breakup by End-Use
    8.1    Residential
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Commercial
        8.2.1 Market Trends
        8.2.2 Market Forecast
9   Market Breakup by Region
    9.1    North America
        9.1.1 Market Trends
        9.1.2 Market Forecast
    9.2    Europe
        9.2.1 Market Trends
        9.2.2 Market Forecast
    9.3    Asia Pacific
        9.3.1 Market Trends
        9.3.2 Market Forecast
    9.4    Latin America
        9.4.1 Market Trends
        9.4.2 Market Forecast
    9.5    Middle East and Africa
        9.5.1 Market Trends
        9.5.2 Market Forecast
10  Techniques Used for Manufacturing Handicrafts
    10.1    Pottery
    10.2    Basket Weaving
    10.3    Tapestry
    10.4    Mosaic
    10.5    Tatting
    10.6    Engraving
11  Competitive Landscape
    11.1    Market Structure
    11.2    Key Players
12  Key Player Profiles
    12.1    Asian Handicraft
    12.2    Fakih Group of Companies
    12.3    Shandong Laizhou Arts and Crafts
    12.4    Ten Thousand Villages
    12.5    Oriental Handicrafts Pte. Ltd.
    12.6    NGOC Dong Ha Nam
    12.7    Minhou Minxing Weaving Co. Ltd.
    12.8    Native Crafts and Arts Industries
 
List of Figures

Figure 1: Global: Handicrafts Market: Major Drivers and Challenges
Figure 2: Global: Handicrafts Market: Value Trends (in Billion US$), 2016-2021
Figure 3: Global: Handicrafts Market: Breakup by Product Type (in %), 2021
Figure 4: Global: Handicrafts Market: Breakup by Distribution Channel (in %), 2021
Figure 5: Global: Handicrafts Market: Breakup by End Use (in %), 2021
Figure 6: Global: Handicrafts Market: Breakup by Region (in %), 2021
Figure 7: Global: Handicrafts Market Forecast: Value Trends (in Billion US$), 2022-2027
Figure 8: Global: Handicrafts Industry: SWOT Analysis
Figure 9: Global: Handicrafts Industry: Value Chain Analysis
Figure 10: Global: Handicrafts Industry: Porter’s Five Forces Analysis
Figure 11: Global: Handicrafts Market (Woodware): Value Trends (in Billion US$), 2016 & 2021
Figure 12: Global: Handicrafts Market Forecast (Woodware): Value Trends (in Billion US$), 2022-2027
Figure 13: Global: Handicrafts Market (Artmetal Ware): Value Trends (in Billion US$), 2016 & 2021
Figure 14: Global: Handicrafts Market Forecast (Artmetal Ware): Value Trends (in Billion US$), 2022-2027
Figure 15: Global: Handicrafts Market (Handprinted Textiles and Scarves): Value Trends (in Billion US$), 2016 & 2021
Figure 16: Global: Handicrafts Market Forecast (Handprinted Textiles and Scarves): Value Trends (in Billion US$), 2022-2027
Figure 17: Global: Handicrafts Market (Embroidered and Crotched Goods): Value Trends (in Billion US$), 2016 & 2021
Figure 18: Global: Handicrafts Market Forecast (Embroidered and Crotched Goods): Value Trends (in Billion US$), 2022-2027
Figure 19: Global: Handicrafts Market (Zari and Zari Goods): Value Trends (in Billion US$), 2016 & 2021
Figure 20: Global: Handicrafts Market Forecast (Zari and Zari Goods): Value Trends (in Billion US$), 2022-2027
Figure 21: Global: Handicrafts Market (Imitation Jewelry): Value Trends (in Billion US$), 2016 & 2021
Figure 22: Global: Handicrafts Market Forecast (Imitation Jewelry): Value Trends (in Billion US$), 2022-2027
Figure 23: Global: Handicrafts Market (Sculptures): Value Trends (in Billion US$), 2016 & 2021
Figure 24: Global: Handicrafts Market Forecast (Sculptures): Value Trends (in Billion US$), 2022-2027
Figure 25: Global: Handicrafts Market (Pottery and Glass Ware): Value Trends (in Billion US$), 2016 & 2021
Figure 26: Global: Handicrafts Market Forecast (Pottery and Glass Ware): Value Trends (in Billion US$), 2022-2027
Figure 27: Global: Handicrafts Market (Attars and Agarbattis): Value Trends (in Billion US$), 2016 & 2021
Figure 28: Global: Handicrafts Market Forecast (Attars and Agarbattis): Value Trends (in Billion US$), 2022-2027
Figure 29: Global: Handicrafts Market (Others): Value Trends (in Billion US$), 2016 & 2021
Figure 30: Global: Handicrafts Market Forecast (Others): Value Trends (in Billion US$), 2022-2027
Figure 31: Global: Handicrafts Market: Sales through Mass Retailers (in Billion US$), 2016 & 2021
Figure 32: Global: Handicrafts Market Forecast: Sales through Mass Retailers (in Billion US$) 2022-2027
Figure 33: Global: Handicrafts Market: Sales through Departmental Stores (in Billion US$), 2016 & 2021
Figure 34: Global: Handicrafts Market Forecast: Sales through Departmental Stores (in Billion US$), 2022-2027
Figure 35: Global: Handicrafts Market: Sales through Independent Retailers (in Billion US$), 2016 & 2021
Figure 36: Global: Handicrafts Market Forecast: Sales through Independent Retailers (in Billion US$), 2022-2027
Figure 37: Global: Handicrafts Market: Sales through Specialty Stores (in Billion US$), 2016 & 2021
Figure 38: Global: Handicrafts Market Forecast: Sales through Specialty Stores (in Billion US$), 2022-2027
Figure 39: Global: Handicrafts Market: Sales through Online Stores (in Billion US$), 2016 & 2021
Figure 40: Global: Handicrafts Market Forecast: Sales through Online stores (in Billion US$), 2022-2027
Figure 41: Global: Handicrafts Market: Sales through Other Distribution Channels (in Billion US$), 2016 & 2021
Figure 42: Global: Handicrafts Market Forecast: Sales through Other Distribution Channels (in Billion US$), 2022-2027
Figure 43: Global: Handicrafts Market (Residential): Value Trends (in Billion US$), 2016 & 2021
Figure 44: Global: Handicrafts Market Forecast (Residential): Value Trends (in Billion US$), 2022-2027
Figure 45: Global: Handicrafts Market (Commercial): Value Trends (in Billion US$), 2016 & 2021
Figure 46: Global: Handicrafts Market Forecast (Commercial): Value Trends (in Billion US$), 2022-2027
Figure 47: North America: Handicrafts Market: Value Trends (in Billion US$), 2016 & 2021
Figure 48: North America: Handicrafts Market Forecast: Value Trends (in Billion US$), 2022-2027
Figure 49: Europe: Handicrafts Market: Value Trends (in Billion US$), 2016 & 2021
Figure 50: Europe: Handicrafts Market Forecast: Value Trends (in Billion US$), 2022-2027
Figure 51: Asia-Pacific: Handicrafts Market: Value Trends (in Billion US$), 2016 & 2021
Figure 52: Asia-Pacific: Handicrafts Market Forecast: Value Trends (in Billion US$), 2022-2027
Figure 53: Latin America: Handicrafts Market: Value Trends (in Billion US$), 2016 & 2021
Figure 54: Latin America: Handicrafts Market Forecast: Value Trends (in Billion US$), 2022-2027
Figure 55: Middle East and Africa: Handicrafts Market: Value Trends (in Billion US$), 2016 & 2021
Figure 56: Middle East and Africa: Handicrafts Market Forecast: Value Trends (in Billion US$), 2022-2027
Figure 57: Global: Handicrafts Market: Manufacturing Cost Breakup (in %)
Figure 58: Global: Handicrafts Industry: Profit Margins at Various Stages of Supply

List of Tables

Table 1: Global: Handicrafts Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Handicrafts Market: Trade Organizations
Table 3: Global: Handicrafts Market: Major E-Commerce Companies
Table 4: Global: Handicrafts Market Forecast: Breakup by Product type (in Billion US$), 2022-2027
Table 5: Global: Woodware Market: Major Products
Table 6: Global: Artmetal Ware Market: Major Products
Table 7: Global: Handprinted Textiles and Scarves Market: Major Products
Table 8: Global: Embroidered and Crocheted Market: Major Products
Table 9: Global: Zari and Zari goods Market: Major Products
Table 10: Global: Imitation Jewelry Market: Major Products
Table 11: Global: Sculptures Market: Major Products
Table 12: Global: Pottery and Glassware Market: Major Products
Table 13: Global: Attars and Agarbattis Market: Major Products
Table 14: Global: Handicrafts Market Forecast: Breakup by Distribution Channels (in Billion US$), 2022-2027
Table 15: Global: Handicrafts Market Forecast: Breakup by End-Use (in Billion US$), 2022-2027
Table 16: Global: Handicrafts Market Forecast: Breakup by Region (in Billion US$), 2022-2027
Table 17: Global: Handicrafts Market: Major Techniques Used
Table 18: Global: Handicrafts Market: Competitive Structure
Table 19: Global: Handicrafts Market: Key Players

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Key Questions Answered in This Report

The global handicrafts market was valued at US$ 680 Billion in 2021.

We expect the global handicrafts market to exhibit a CAGR of around 10.41% during 2022-2027.

The expanding travel and tourism industry, along with the growing prominence of handicraft items
as souvenirs, owing to their uniqueness and the essence of vibrant art and culture, is currently
driving the global 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.

Based on the product type, the global 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 product holds the majority of the total market share.

Based on the distribution channel, the global 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 global handicrafts market can be segmented into residential and
commercial. Currently, the residential sector represents the largest market share.

On a regional level, the market has been classified into Asia-Pacific, North America, Europe, Middle
East and Africa, and Latin America, where North America currently dominates the global market.

Some of the major players in the global handicrafts market include Asian Handicraft, Fakih Group of
Companies, Shandong Laizhou Arts and Crafts, Ten Thousand Villages, Oriental Handicrafts Pte. Ltd.,
NGOC Dong Ha Nam, Minhou Minxing Weaving Co. Ltd., Native Crafts and Arts Industries, etc.

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