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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Handicrafts Market Share
On the basis of the product types, the woodware segment accounted for the largest market in the total global market in 2020 as they are usually used in the manufacturing of kitchenware, decorative materials, and toys, among others. Based on the distribution channel, the mass retailer segment dominated the handicrafts market in 2020. Since mass retailer distributes a wide variety of handicraft products at an affordable price, they are, thus, expected to retain their dominance in the forecast period and boost the handicrafts market value. On the basis of end use, the market is bifurcated into residential and commercial. The residential segment accounted for the largest end-use segment, owing to the rising demand for fashion accessories, home accessories, and jewellery, among others.
Handicrafts Market Report Snapshots
Handicrafts Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global handicrafts market attained a value of nearly USD 787.85 billion.
The market is projected to grow at a CAGR of 11.8% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 2,149.93 billion by 2032.
The key factors of the market, such as the rising demand for kitchenware, decorative materials, toys, and others, increasing demand for an extensive range of handicraft products at an affordable price, and the rising demand for fashion accessories, home accessories, and jewellery, are expected to aid the market growth.
The key market trend guiding the growth of the handicrafts market includes the rising demand for the product as an important source of huge exports and potential foreign exchange in the forecast period.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Woodware is the leading product of handicrafts in the market.
The mass retailer segment leads the distribution channel segment.
The residential segment accounted for the leading end user sector of handicrafts.
The major players in the market are Asian Handicrafts Pvt. Ltd., Native Crafts and Arts, Inc., Fakih Group of Companies, Gangamani Fashions (Art & Crafts), HN Handicrafts, S. N. Handicrafts, Unique Handicrafts Ltd, Vietnam Handicraft Co., Ltd, Haswani Handicrafts, and Sushil Craft, among others.
Top players are Asian Handicrafts Pvt. Ltd., Noah’s Ark International Exports, Matr Boomie, The Citizenry, and Novica, among others.
The Asia Pacific holds the highest share in the region.
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