Global Handicrafts Market to Grow at a CAGR of 11.8% During 2024-2032, Aided by the Growing Demand for Personalised and Unique Products

The demand for handicrafts is rising significantly across the globe. Handcrafted products by local artisans are often recognised for their uniqueness and superior quality. The growing demand for unique and limited-edition products makes handmade products a key part of store offerings. In contrast to the mass-produced gifts, each handmade item often exhibits subtle variations, enhancing its individuality. Moreover, there is an increased inclination towards handmade goods that are tailored to the customers’ requirements and preferences, aiding the handicrafts market growth.

With the growing awareness regarding the environmental impact of mass-produced goods, consumers are seeking handicrafts as they are created with sustainable and eco-friendly materials such as organic cotton, bamboo, and hemp. These materials have a lower environmental footprint than other materials such as synthetic materials.

The growing popularity of social media platforms such as Meta Platforms, Inc (NASDAQ: META), formerly known as Facebook, Pinterest, and TikTok is also playing a crucial role in aiding the handmade sector. Social media platforms provide a unique space for artisans and brands to showcase their craft to a larger audience and gain customers, without the requirement for a physical store.  Furthermore, there is a growing demand for luxury handicrafts, with India being a top destination across the globe.

In November 2023, Reliance Foundation launched the first ‘Swadesh’ handicrafts store in Hyderabad, India. The launch is aimed at supporting and promoting the Indian handiwork. The increasing launches of such stores that can promote hand-curated products made with innovative materials and techniques are positively influencing the market demand.

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Market Analysis by Product, End User, Distribution Channel, and Region:

• The market, on the basis of product, can be divided into woodware, artmetal ware, handprinted textiles and scarves, embroidered and crocheted goods, zari and zari goods, imitation jewellery, sculptures, pottery and glassware, and attars and agarbattis, among others.

• Based on end user, the market can be divided into residential and commercial.

• The various distribution channels for handicrafts include mass retailers, departmental stores, independent retailers, and online stores, among others.

• The major regional markets for handicrafts include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The global handicrafts market expansion is being driven by the rising demand for custom-made and unique products.

• The rising concerns regarding environmental protection and sustainability are contributing to the demand for handicraft products.

• The expanding distribution channels, particularly online channels, are significantly contributing to the market growth.

• The growing use of social media is providing greater opportunities for artisans to showcase their products and gain sales.

Key Offerings of the Report:

• The EMR report gives an overview of the global handicrafts market for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the products, end users, distribution channels, and major regions of handicrafts.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global handicrafts 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. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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