According to IMARC Group latest published report, titled “Handicrafts Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” that the global handicrafts market size reached US$ 680.10 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 1,252.30 Billion by 2027, exhibiting a growth rate (CAGR) of 10.41% during 2022-2027.
Handicrafts are goods that are handmade using basic tools as opposed to machinery. Because they are an artistic representation of a heritage or culture, they require tremendous concentration when being created. Typically, materials including wood, beads, fabrics, sheet metal, river stone, natural fibre, wrought iron, horn and bone, and ceramics are used to create them. Handicrafts play a crucial role in the expansion of an economy since they need little initial capital, offer employment to artisans, and generate significant amounts of foreign cash. In addition, because of their high quality and distinctiveness, they are seen by consumers as status symbols.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Download a free sample report to get a detailed overview of the report: https://www.imarcgroup.com/handicrafts-market/requestsample
Global Handicrafts Market Trends:
One of the key factors influencing the growth of the handicrafts market is the rising demand for handcrafted decor items, particularly in homes, workplaces, restaurants, and other commercial areas. Accordingly, the global sales of handicrafts are increasing as a result of the booming e-commerce industry, the expansion of various online retail channels, and other factors. In addition, the booming travel and tourism industry gives local craftsmen the chance to create commodities and sell them to tourists wanting to spend money on souvenirs and other handcrafted goods. Handicrafts have low energy requirements, which is expected to help the market grow in the next years, in contrast to machine-made products, which require the use of electricity and other fuels.
Ask Analyst for 10% free customized report: https://www.imarcgroup.com/request?type=report&id=921&flag=C
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of the key players being
- Asian Handicrafts Pvt. Ltd.,
- Fakih Group of Companies Pvt. Ltd.,
- Shandong Laizhou Arts and Crafts Imp. & Exp. Co. Ltd.,
- Ten Thousand Villages,
- Oriental Handicrafts Pte. Ltd.,
- Ngoc Dong Ha Nam Co. Ltd.,
- Fujian Minhou Minxing Weaving Co. Ltd.
- Native Crafts and Arts Industries.
Trending related reports by IMARC Group;
United States Handicrafts Market: https://www.imarcgroup.com/united-states-handicrafts-market
Asia Pacific Handicrafts Market: https://www.imarcgroup.com/asia-pacific-handicrafts-market
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact US: IMARC Group
30 N Gould St, Ste R
Sheridan, WY 82801, USA
Follow us on twitter: @imarcglobal