Latin America Handicrafts Market Report and Forecast 2024-2032

Latin America Handicrafts Market Outlook

The Latin America handicrafts market is expected to grow at a CAGR of 11.0% during the forecast period of 2024-2032.

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Rising Travel and Tourism in Latin American Countries is Boosting the Market Growth of Handicrafts in the Region

The handicrafts industry in Latin America is being driven on account of rising per capita disposable incomes and the willingness to spend on handicrafts, including handmade jewellery, apparel, and handcrafted home accessories. Furthermore,  with an increased number of tourists, owing to flourishing tourism sector of Latin American countries, the sales of handicraft items in Latin America have increased owing to the invigorated demand for cultural goods, uncommon souvenirs, and indigenous art.

In addition to this, governments in a number of countries have taken supportive measures to boost their travel and tourism industries and are investing in a variety of programmes that promote handicraft manufacturing, thereby positively impacting the growth of the market. Moreover, efforts undertaken to streamline the manufacturing process and mainstream operations in order to economically empower the ground-level workers is another factor bolstering the growth of the market.

Handicrafts: Market Segmentation

Handicrafts refer to products that are made by artisans using hands and simple tools. These products represent the culture and tradition of a particular country or region as these products are unique and exhibit distinctive qualities.

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By product type, the market can be segmented into:

• Woodware   
• Artmetal Ware 
• Handprinted Textiles and Scarves 
• Embroidered and Crocheted Goods 
• Imitation Jewellery
• Sculptures
• Pottery and Glassware 
• Others

Based on distribution channel, the market is divided into:

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

The market, based on end use, can be classified into:

• Residential
• Commercial

The EMR report looks into the regional markets of Latin America’s handicraft industry like Brazil, Argentina, and Mexico, among others.

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Emergence of Online Retail and E-Commerce Channels is Boosting the Market Growth of Handicrafts in Latin America

The growth in the Latin America market for handicrafts can be associated with the rise of online retail channels and the proliferation of various e-commerce channels, thereby easing consumer access to handcrafted products. Owing to rising smartphone ownership, robust internet facilities, and the dominance of e-commerce channels in Latin America, the inclusion of handicraft products on online retail channels is positively influencing the growth of the market.

In addition to this, the market is witnessing a shift from ethnic to contemporary designs, which is being fuelled by strong demand from offices, hospitals, and hotels. Furthermore, efforts to boost local art and culture is a significant factor bolstering the growth of the market. In line with this, the regional market is benefitting from robust demand from the international market and improved trade relations with the rest of the world. These are some of the factors providing impetus to the market.

Key Industry Players in the Latin America Handicrafts Market

The report gives a detailed analysis of the following key players in the Latin America handicrafts market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• TheFOB
• Caboclo
• Círculo SA
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report

Key Highlights of the Report