Global handicraft market driven by emerging e-commerce channels – Carbon Valley Farmer and Miner

The global handicraft market size reached 680 billion US dollars in 2021. Looking ahead, the market is expected to reach 1,252 billion US dollars by 2027, at a compound annual growth rate of 10.41% During 2022-2027, according to the latest report by IMARC Group.

Handicrafts are handmade products that are intricately prepared using simple tools rather than machines. They are artistic representations of a culture or tradition and require intense concentration during production. They are generally manufactured using materials, such as wood, beads, textiles, sheet metal, river stone, natural fibres, wrought iron, horn, bone, and ceramics.

Since handicrafts require low capital investment, provide employment opportunities for artisans and act as a prominent means of foreign exchange earnings, they play a pivotal role in the overall growth of the economy. Besides, they are also seen as the status symbol of consumers, due to their quality and uniqueness.

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Market trends:

One of the main factors driving the growth of the handicraft market is the increasing demand for handmade decorative items, especially in homes, offices, restaurants and other commercial places. In line with this, the booming e-commerce sector, in conjunction with the proliferation of various online retail channels, is also boosting sales of handicrafts across the globe. Apart from this, the burgeoning travel and tourism sector provides opportunities for local artisans to prepare merchandise products and sell them to tourists willing to spend on souvenirs and other artisanal items.

Moreover, unlike the machine-made products that involve the use of electricity and other fuels, handicrafts have low energy requirements and are expected to contribute to the growth of the market in the coming years. Looking ahead, the market is expected to continue its moderate growth over the next five years

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Note: We regularly track the direct impact of COVID-19 on the market, along with the indirect impact of related industries. These notes will be incorporated into the report.

Competitive scene:

The competitive landscape of the market has been studied in the report with the detailed profiles of the major players operating in the market.

Being some of the main players

  • Asian Handicrafts Pvt. Ltd.,
  • Fakih Private Group of Companies. Ltd.,
  • Shandong Laizhou Arts And Crafts Imp. & exp. Ltd.,
  • ten thousand villages,
  • Oriental Handicrafts Pte. Ltd.,
  • Ngoc Dong Ha Nam Co., Ltd.
  • Fujian Minhou Minxing Weaving Co., Ltd. Ltd.
  • Original crafts and art industries.

Browse related reports:

Indian Handicrafts Market Analysis 2022-2027, Industry Share, Size, Growth and Opportunities

US Handicraft Market: Industry Trends, Participation, Growth, Opportunities and Forecast 2021-2026

Asia Pacific Handicraft Market: Industry Analysis, Size, Sharing, Trends and Forecast 2021-2026

List of the best handicraft manufacturers in the world

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