Dublin, April 15, 2021 (GLOBE NEWSWIRE) -- The "Handicrafts Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.
The global handicrafts market reached a value of US$ 718 Billion in 2020. Handicrafts refer to products that are handmade using simple tools and represent the culture and traditions of a country or region. Their production requires considerable hand-eye coordination and intense concentration. Each handcrafted product is unique as each craftsperson applies their strength differently, owing to which every product has distinct qualities. Handicrafts play a vital role in the economic development of a country as they are a prominent medium for foreign exchange revenue, require low capital investments and offer employment opportunities. In addition, handicraft items are perceived as a symbol of status owing to their uniqueness, quality, usage of natural materials, and the essence of vibrant art and culture.
In recent years, with the emergence of online retail and the proliferation of various e-commerce channels, the accessibility to handicrafts has become more convenient for consumers. This has provided a boost to the sales of handcrafted goods across the globe. Another factor driving the market growth is the shift from ethnic to contemporary designs, coupled with the strong demand from offices, hospitals and hotels. Apart from this, the growing travel and tourism industry has provided vast opportunities to local artisans and handicraft manufacturers to produce commoditized products and sell them to tourists who are willing to spend significantly on souvenirs and other craft items.
Moreover, handicrafts have lower energy requirements, unlike machine-made products which involve the utilization of electricity and various other fuels. On account of the low capital investments, the industry is flourishing, particularly in the developing regions such as India, China, and Afghanistan. Looking forward, the publisher expects the global handicrafts market to exhibit strong growth during the next five years.
Breakup by Product Type:
- Woodware
- Artmetal Ware
- Handprinted Textiles and Scarves
- Embroidered and Crocheted Goods
- Zari and Zari Goods
- Imitation Jewelry
- Sculptures
- Pottery and Glass wares
- Attars and Agarbattis
- Others
On the basis of the product type, woodware currently represents the most popular type of handicraft products across the globe. These woodwares are also used in the manufacturing of kitchenware, decorative materials, toys, etc.
Breakup by Distribution Channel:
- Mass Retailers
- Departmental Stores
- Independent Retailers
- Specialty Stores
- Online Stores
- Others
The majority of the handicrafts are distributed through mass retailers, also known as discounters, who sell a wide variety of products at lower than conventional prices.
Breakup by End Use:
- Residential
- Commercial
At present, the residential sector dominates the market and is further categorized into home accessories, furniture, jewelry, home textiles and others.
Regional Insights:
- Asia-Pacific
- North America
- Europe
- Middle East and Africa
- Latin America
Region-wise, North America exhibits a clear dominance in the market as consumers in the region are willing to spend substantially on handicrafts, including handmade jewelry, apparel and handcrafted home accessories.
Competitive Landscape:
The global handicrafts market is fragmented in nature with the presence of a large number of small and big manufacturers. Some of the leading players operating in the market are:
- Asian Handicraft
- Fakih Group of Companies
- Shandong Laizhou Arts and Crafts
- Ten Thousand Villages
- Oriental Handicrafts Pte. Ltd.
- NGOC Dong Ha Nam
- Minhou Minxing Weaving Co. Ltd.
- Native Crafts and Arts Industries
Key Questions Answered in This Report:
- How has the global handicrafts market performed so far and how will it perform in the coming years?
- What are the key regions in the global handicrafts market?
- What has been the impact of COVID-19 on the global handicrafts market?
- Which are the popular product types in the global handicrafts market?
- What are the major end-use sectors in the global handicrafts market?
- What are the major distribution channels in the global handicrafts market?
- What are the various stages in the value chain of the global handicrafts market?
- What are the key driving factors and challenges in the global handicrafts market?
- What is the structure of the global handicrafts market and who are the key players?
- What is the degree of competition in the global stone handicrafts market?
- How are handicrafts manufactured?
Key Topics Covered:
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
2.6 Study Assumptions
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Handicrafts Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Price Analysis
5.4.1 Key Price Indicators
5.4.2 Price Structure
5.4.3 Margin Analysis
5.5 Market Breakup by Product Type
5.6 Market Breakup by Distribution Channel
5.7 Market Breakup by End Use
5.8 Market Breakup by Region
5.9 Market Forecast
5.10 SWOT Analysis
5.10.1 Overview
5.10.2 Strengths
5.10.3 Weaknesses
5.10.4 Opportunities
5.10.5 Threats
5.11 Value Chain Analysis
5.11.1 Overview
5.11.2 Input Suppliers
5.11.3 Handicrafts Manufacturers
5.11.4 Distributors
5.11.5 Retailers
5.11.6 End Consumer
5.12 Porter's Five Forces Analysis
5.12.1 Overview
5.12.2 Bargaining Power of Buyers
5.12.3 Bargaining Power of Suppliers
5.12.4 Degree of Rivalry
5.12.5 Threat of New Entrants
5.12.6 Threat of Substitutes
5.13 Key Success Factors
5.13.1 Impact of Globalization
5.13.2 Rapid Changes in Market Trends
5.13.3 Contemporary Minimalism
5.13.4 Growth in Online Sales
5.13.5 Heightened Awareness of Environmental and Social Concerns
6 Market Breakup by Product Type
6.1 Woodware
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Artmetal Ware
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Handprinted Textiles and Scarves
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Embroidered and Crocheted Goods
6.4.1 Market Trends
6.4.2 Market Forecast
6.5 Zari and Zari Goods
6.5.1 Market Trends
6.5.2 Market Forecast
6.6 Imitation Jewelry
6.6.1 Market Trends
6.6.2 Market Forecast
6.7 Sculptures
6.7.1 Market Trends
6.7.2 Market Forecast
6.8 Pottery and Glass Wares
6.8.1 Market Trends
6.8.2 Market Forecast
6.9 Attars and Agarbattis
6.9.1 Market Trends
6.9.2 Market Forecast
6.10 Others
6.10.1 Market Trends
6.10.2 Market Forecast
7 Market Breakup by Distribution Channel
7.1 Mass Retailers
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Departmental Stores
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Independent Retailers
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Specialty Stores
7.4.1 Market Trends
7.4.2 Market Forecast
7.5 Online Stores
7.5.1 Market Trends
7.5.2 Market Forecast
7.6 Others
7.6.1 Market Trends
7.6.2 Market Forecast
8 Market Breakup by End-Use
8.1 Residential
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Commercial
8.2.1 Market Trends
8.2.2 Market Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Europe
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Asia Pacific
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Latin America
9.4.1 Market Trends
9.4.2 Market Forecast
9.5 Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Forecast
10 Techniques Used for Manufacturing Handicrafts
10.1 Pottery
10.2 Basket Weaving
10.3 Tapestry
10.4 Mosaic
10.5 Tatting
10.6 Engraving
11 Competitive Landscape
11.1 Market Structure
11.2 Key Players
12 Key Player Profiles
12.1 Asian Handicraft
12.2 Fakih Group of Companies
12.3 Shandong Laizhou Arts and Crafts
12.4 Ten Thousand Villages
12.5 Oriental Handicrafts Pte. Ltd.
12.6 NGOC Dong Ha Nam
12.7 Minhou Minxing Weaving Co. Ltd.
12.8 Native Crafts and Arts Industries
For more information about this report visit https://www.researchandmarkets.com/r/ydbhdr