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The global handicrafts market was valued at US$ 752.2 Billion in 2022.
We expect the global handicrafts market to exhibit a CAGR of 9.1% during 2023-2028.
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 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, etc.
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