Edit
Bizwit-Logo-Final

Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. We have a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. 

Global Handicraft Market to reach USD 1974.83 billion by the end of 2030.

Global Handicraft Market Size Study & Forecast, by Product (Woodworks, MetalArtworks, Handprinted Textiles & Embroided Goods, Imitation Jewelry, Others), by End-user (Residential, Commercial), by Distribution Channel (Specialty Stores, Independent Stores, Online stores, Others), and Regional Analysis, 2023-2030

Product Code: OIRHG-21591975
Publish Date: 20-12-2023
Page: 200

Global Handicraft Market is valued at approximately USD 915.93 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 10.08% over the forecast period 2023-2030. Handicraft includes a wide range of handmade or handcrafted objects or products created by skilled artisans or craftspersons. These items primarily encompass textiles, pottery, glassware, paper goods, wooden creations, metal and silver pieces, and a myriad of other crafts. The rising trend of travel, enabling consumers to experience diverse cultures and their indigenous handicrafts, is anticipated to fuel the Handicraft Market. Additionally, the surge in construction activities, both commercial and residential, is encouraging the trend of embellishing homes with distinctive and artistic handicrafts.
In addition, rising disposable incomes and a growing middle class, along with the growing demand for sustainable and ethical products are playing a vital role in the market demand across the globe.

Also, the availability of handicrafts has become increasingly convenient for consumers due to the trend of online retail and the proliferation of various online platforms, which has significantly amplified the global sales of handicraft products. With the rise of e-commerce, access to a global audience has been democratized. Specialized platforms for handmade and vintage items provide a centralized marketplace where artisans can exhibit their creations to a worldwide customer base. These platforms often manage various aspects of the transaction process, including secure payment gateways and, in some cases, shipping logistics, allowing artisans to concentrate on their craft. According to Statista, in 2015 the global retail e-commerce sales were USD 1,548 billion and the number is anticipated to reach USD 8,148 billion by 2026. Moreover, the user-friendly and secure nature of these digital platforms encourages more artisans to transition their businesses online. In addition to this, e-commerce offers valuable tools for detailed analytics, offering artisans valuable insights into customer behavior and emerging market trends. When combined, these factors underscore the profound impact of e-commerce platforms on the expansion of the handicrafts market. Furthermore, the rising interest in handmade and DIY, as well as the augmenting trend of tourism activities present various lucrative opportunities over the forecast years. However, the fluctuations in the raw material prices and the competition from mass-produced goods are challenging the market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Handicraft Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific is a dominating the market in 2022 primarily due to the escalating production of handmade and craft products in countries such as India, China, Bangladesh, and so on. Furthermore, the presence of esteemed artisans and manufacturers of handmade products, as well as growing awareness of cultural heritage and tradition in these nations creates highly promising opportunities for the Asia Pacific market. Whereas, North America is expected to grow at a significant CAGR over the forecast years. Growing awareness of cultural heritage and tradition, growth of online marketplaces, and increasing tourism are significantly propelling the market demand across the region.

Major market players included in this report are:
Asian Handicrafts Pvt. Ltd. (India)
Fakih Group of Companies (UAE)
Laizhou Zhonghe Arts & Crafts Co. Ltd. (China)
Ten Thousand Villages (U.S.)
Fujian Minhou Minxing Weaving Co. Ltd. (China)
The India Craft House (India)
Creative Expressions (U.K.)
PT Harmoni Jaya Kreasi (Indonesia)
Gangga Sukta (Indonesia)
PT Fuzen Decor Bali (Indonesia)

Recent Developments in the Market:
Ø In June 2023, Amazon’s brand Amazing Home released its line of furniture and home décor products to provide consumers with stylish home décor options.
Ø In January 2023, Target, a major U.S. retailer, introduced a range of home accessories, such as tables and rugs, in collaboration with designers from Hearth & Hand with Magnolia, Opalhouse designed with Jungalow, and Threshold with Studio McGee.
Ø In September 2022, Crate & Barrel, a furniture retailer based in the United States, entered a partnership with renowned interior designer Athena Calderone to create its own home collection of furnishings, textiles, glassware, and other home décor items.

Global Handicraft Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Product, End-user, Distribution Channel, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product:
Woodworks
MetalArtworks
Handprinted Textiles & Embroided Goods
Imitation Jewelry
Others

By End-user:
Residential
Commercial

By Distribution Channel:
Specialty Stores
Independent Stores
Online stores
Others

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Handicraft Market, by Region, 2020-2030 (USD Billion)
1.2.2. Handicraft Market, by Product, 2020-2030 (USD Billion)
1.2.3. Handicraft Market, by End-user, 2020-2030 (USD Billion)
1.2.4. Handicraft Market, by Distribution Channel, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Handicraft Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Handicraft Market Dynamics
3.1. Handicraft Market Impact Analysis (2020-2030)
3.1.1. Market Drivers
3.1.1.1. Increasing trend of online retail and the proliferation of various online platforms
3.1.1.2. Rising tourism
3.1.2. Market Challenges
3.1.2.1. Fluctuations in the raw material prices
3.1.2.2. Competition from mass-produced goods
3.1.3. Market Opportunities
3.1.3.1. Rising interest in handmade and DIY
3.1.3.2. Augmenting trend of tourism activities
Chapter 4. Global Handicraft Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Handicraft Market, by Product
5.1. Market Snapshot
5.2. Global Handicraft Market by Product, Performance – Potential Analysis
5.3. Global Handicraft Market Estimates & Forecasts by Product 2020-2030 (USD Billion)
5.4. Handicraft Market, Sub Segment Analysis
5.4.1. Woodworks
5.4.2. MetalArtworks
5.4.3. Handprinted Textiles & Embroided Goods
5.4.4. Imitation Jewelry
5.4.5. Others
Chapter 6. Global Handicraft Market, by End-user
6.1. Market Snapshot
6.2. Global Handicraft Market by End-user, Performance – Potential Analysis
6.3. Global Handicraft Market Estimates & Forecasts by End-user 2020-2030 (USD Billion)
6.4. Handicraft Market, Sub Segment Analysis
6.4.1. Residential
6.4.2. Commercial
Chapter 7. Global Handicraft Market, by Distribution Channel
7.1. Market Snapshot
7.2. Global Handicraft Market by Distribution Channel, Performance – Potential Analysis
7.3. Global Handicraft Market Estimates & Forecasts by Distribution Channel 2020-2030 (USD Billion)
7.4. Handicraft Market, Sub Segment Analysis
7.4.1. Specialty Stores
7.4.2. Independent Stores
7.4.3. Online stores
7.4.4. Others
Chapter 8. Global Handicraft Market, Regional Analysis
8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Handicraft Market, Regional Market Snapshot
8.4. North America Handicraft Market
8.4.1. U.S. Handicraft Market
8.4.1.1. Product breakdown estimates & forecasts, 2020-2030
8.4.1.2. End-user breakdown estimates & forecasts, 2020-2030
8.4.1.3. Distribution Channel breakdown estimates & forecasts, 2020-2030
8.4.2. Canada Handicraft Market
8.5. Europe Handicraft Market Snapshot
8.5.1. U.K. Handicraft Market
8.5.2. Germany Handicraft Market
8.5.3. France Handicraft Market
8.5.4. Spain Handicraft Market
8.5.5. Italy Handicraft Market
8.5.6. Rest of Europe Handicraft Market
8.6. Asia-Pacific Handicraft Market Snapshot
8.6.1. China Handicraft Market
8.6.2. India Handicraft Market
8.6.3. Japan Handicraft Market
8.6.4. Australia Handicraft Market
8.6.5. South Korea Handicraft Market
8.6.6. Rest of Asia Pacific Handicraft Market
8.7. Latin America Handicraft Market Snapshot
8.7.1. Brazil Handicraft Market
8.7.2. Mexico Handicraft Market
8.8. Middle East & Africa Handicraft Market
8.8.1. Saudi Arabia Handicraft Market
8.8.2. South Africa Handicraft Market
8.8.3. Rest of Middle East & Africa Handicraft Market

Chapter 9. Competitive Intelligence
9.1. Key Company SWOT Analysis
9.1.1. Company 1
9.1.2. Company 2
9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. Asian Handicrafts Pvt. Ltd. (India)
9.3.1.1. Key Information
9.3.1.2. Overview
9.3.1.3. Financial (Subject to Data Availability)
9.3.1.4. Product Summary
9.3.1.5. Recent Developments
9.3.2. Fakih Group of Companies (UAE)
9.3.3. Laizhou Zhonghe Arts & Crafts Co. Ltd. (China)
9.3.4. Ten Thousand Villages (U.S.)
9.3.5. Fujian Minhou Minxing Weaving Co. Ltd. (China)
9.3.6. The India Craft House (India)
9.3.7. Creative Expressions (U.K.)
9.3.8. PT Harmoni Jaya Kreasi (Indonesia)
9.3.9. Gangga Sukta (Indonesia)
9.3.10. PT Fuzen Decor Bali (Indonesia)
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

Need Assistance

Contact Person -
Krishant Mennon
Call us @
+ 91 99931 15879
Email: sales@bizwitresearch.com

Checkout

Why Choose Us?

Quality over Quantity

Backed by 60+ paid data sources our reports deliver crisp insights with no compromise quality.

Analyst Support

24x7 Chat Support plus
free analyst hours with every purchase

Flawless Methodology

Our 360-degree approach of market study, our research methods leave stones unturned.
Enquiry Now