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United States Handicrafts Market to Reach US$ 429.3 Billion by 2027, Impelled by the Thriving Travel and Tourism Sector

Published on Nov 22, 2022

According to the latest report by IMARC Group, titled “United States Handicrafts Market: Industry, Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the United States handicrafts market size reached US$ 241.1 Billion in 2021. Handicrafts are handmade products that are intricately prepared using simple tools instead of machines. Some of the commonly available handicraft products include bags, decorative items, sculptures, pottery products, and textiles. They are an artistic representation of a culture or tradition and require intense concentration during production. Handicrafts are generally manufactured using materials such as wood, beads, textiles, sheet metal, river stone, natural fiber, wrought iron, horn and bone, and ceramics. They add aesthetic, decorative, and artistic value to a space and are also made using natural and eco-friendly materials. Besides this, they aid in uplifting the economy of the country through the contribution to foreign exchange revenues, offer employment opportunities, and require minimal capital investment for production.

The United States Handicrafts Market Trends: 

The increasing product utilization in homes, offices, restaurants, and other commercial places is one of the primary factors driving the market growth in the US. In line with this, the increasing product availability due to the growing internet penetration and the proliferation of e-commerce channels is favoring the market growth. Additionally, the significant growth in the travel and tourism industry is propelling the market growth. Tourists’ inclination toward local handicraft products, such as souvenirs, symbolic imageries, religious objects, and decorative items for homes and gifting purposes, is acting as another growth-inducing factor. Apart from this, the constant support of various institutions, such as the Home Industries Association (HIA), the Southwest Craft and Hobby Association (SWCHA), and the Association of Crafts and Creative Industries (ACCI), in the US is providing an impetus to the market growth. Moreover, the increasing product demand due to low energy requirements is creating a positive outlook for the market. Other factors, including the rising expenditure capacities of consumers and the growing trend of gifting handicrafts with customized designs and labels, are anticipated to drive the market growth. On account of the aforementioned factors, the market value is expected to reach US$ 429.3 Billion by 2027, exhibiting a CAGR of 10.14% during 2022-2027.   

Market Summary

  • Based on the product type, the market has been classified 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.
  • On the basis of the distribution channel, the market has been divided into mass retailers, departmental stores, independent retailers, specialty stores, online stores, and others.
  • Based on the end use, the market has been bifurcated into residential and commercial.
  • On a regional basis, the market has been categorized into Northeast, Midwest, South, and West.
  • The competitive landscape of the industry has also been examined, along with the profiles of the key players.
     

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