Handicrafts Market size to witness USD 514.92 Bn growth | Driven by the need for low capital investments | Technavio

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NEW YORK, June 28, 2022 /PRNewswire/ -- The global handicrafts market size is expected to increase by USD 514.92 billion between 2020 and 2025, expanding at a CAGR of 13.09% during the forecast period. According to the report, about 35% of the market growth is expected to come from the North American region. The dominance of the region can be attributed to the presence of favorable government policies for the import of handicrafts and the growing demand for handicraft products such as handprinted textiles, metalware, and embroidered goods.

Technavio has announced its latest market research report titled Handicrafts Market by Product and Geography - Forecast and Analysis 2021-2025
Technavio has announced its latest market research report titled Handicrafts Market by Product and Geography - Forecast and Analysis 2021-2025

 

Buy This Report Now to gain detailed insights on the current and future growth opportunities, market behavior across geographies, and other important statistics.

Vendor Landscape

The global handicrafts market is fragmented, and the degree of fragmentation will accelerate during the forecast period. The market is characterized by the presence of a significant number of small- to medium-scale vendors offering significantly differentiated products. Key vendors hold significant shares in the market. Established vendors have strong financial resources and technical expertise and they focus on product innovations. Small-scale vendors compete with established players by focusing on low pricing strategies and strengthening their presence in local markets.

Technavio identifies Asian Handicrafts Pvt. Ltd., Fakih Group of Companies Pvt. Ltd., HimalayanMart.com, Minhou Minxing Weaving Co. Ltd., Native Crafts and Arts, Ngoc Dong Ha Nam Co. Ltd., Orient Handicraft Co. Ltd., OSM HANDICRAFT, Ten Thousand Villages US, and The Handicrafts & Handloom Exports Corp. of India Ltd. as some of the major market participants.

Market Dynamics

Although the need for low capital investments, growth in travel and tourism, and the rise in government support and funding will offer immense growth opportunities, the lack of information regarding handicraft products, the lack of trained and skilled workers to manufacture handicraft products, and the lack of managerial capabilities will challenge the growth of the market. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Identify other factors impacting the growth of market players and get more highlights on the vendor landscape. View Our Sample Report Now

Handicrafts Market 2021-2025: Segmentation

Handicrafts Market is segmented as below:

  • Product

The metal art ware and jewelry segment accounted for the largest market share in 2021. The segment is driven by innovations in metal art ware, specifically in tableware, lighting products, and decorative products. Also, the increasing demand for metal-based outdoor handicrafts such as swings and furniture in the European market is driving the contributing to the growth of the segment.

  • Geography

The North American region will provide significant growth opportunities for market players during the forecast period. The growth in travel and tourism activities and the presence of a large number of importers of handicraft products are driving the growth of the regional market.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our handicrafts market report covers the following areas:

Handicrafts Market 2021-2025: Vendor Analysis

We provide a detailed analysis of around 25 vendors operating in the handicrafts market, including some of the vendors. Backed with competitive intelligence and benchmarking, our research report on the handicrafts market is designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support.

Handicrafts Market 2021-2025: Key Highlights

  • CAGR of the market during the forecast period 2021-2025

  • Detailed information on factors that will assist handicrafts market growth during the next five years

  • Estimation of the handicrafts market size and its contribution to the parent market

  • Predictions on upcoming trends and changes in consumer behavior

  • The growth of the handicrafts market

  • Analysis of the market's competitive landscape and detailed information on vendors

  • Comprehensive details of factors that will challenge the growth of handicrafts market vendors

Related Reports:

Handicrafts Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 13.09%

Market growth 2021-2025

USD 514.92 billion

Market structure

Fragmented

YoY growth (%)

12.03

Regional analysis

North America, Europe, APAC, MEA, and South America

Performing market contribution

North America at 35%

Key consumer countries

US, UK, Germany, Japan, and UAE

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Asian Handicrafts Pvt. Ltd., Fakih Group of Companies Pvt. Ltd., HimalayanMart.com, Minhou Minxing Weaving Co. Ltd., Native Crafts and Arts, Ngoc Dong Ha Nam Co. Ltd., Orient Handicraft Co. Ltd., OSM HANDICRAFT, Ten Thousand Villages US, and The Handicrafts & Handloom Exports Corp. of India Ltd.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table Of Contents :

1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem

  • 2.2 Market characteristics

  • 2.3 Value chain analysis

3 Market Sizing

  • 3.1 Market definition

  • 3.2 Market segment analysis

  • 3.3 Market size 2020

  • 3.4 Market outlook: Forecast for 2020 - 2025

4 Five Forces Analysis

  • 4.1 Five forces summary

  • 4.2 Bargaining power of buyers

  • 4.3 Bargaining power of suppliers

  • 4.4 Threat of new entrants

  • 4.5 Threat of substitutes

  • 4.6 Threat of rivalry

  • 4.7 Market condition

5 Market Segmentation by Product

  • 5.1 Market segments

  • 5.2 Comparison by Product

  • 5.3 Metal art ware and jewelry - Market size and forecast 2020-2025

  • 5.4 Woodware - Market size and forecast 2020-2025

  • 5.5 Textile products - Market size and forecast 2020-2025

  • 5.6 Others - Market size and forecast 2020-2025

  • 5.7 Market opportunity by Product

6 Customer landscape

7 Geographic Landscape

  • 7.1 Geographic segmentation

  • 7.2 Geographic comparison

  • 7.3 North America - Market size and forecast 2020-2025

  • 7.4 Europe - Market size and forecast 2020-2025

  • 7.5 APAC - Market size and forecast 2020-2025

  • 7.6 MEA - Market size and forecast 2020-2025

  • 7.7 South America - Market size and forecast 2020-2025

  • 7.8 Key leading countries

  • 7.9 Market opportunity by geography

8 Drivers, Challenges, and Trends

  • 8.1 Market drivers

  • 8.2 Market challenges

  • 8.3 Market trends

9 Vendor Landscape

  • 9.1 Vendor landscape

  • 9.2 Landscape disruption

  • 9.3 Industry risks

  • 9.4 Competitive scenario

10 Vendor Analysis

  • 10.1 Vendors covered

  • 10.2 Market positioning of vendors

  • 10.3 Asian Handicrafts Pvt. Ltd.

  • 10.4 Fakih Group of Companies Pvt. Ltd.

  • 10.5 HimalayanMart.com

  • 10.6 Minhou Minxing Weaving Co. Ltd.

  • 10.7 Native Crafts and Arts

  • 10.8 Ngoc Dong Ha Nam Co. Ltd.

  • 10.9 Orient Handicraft Co. Ltd.

  • 10.10 OSM HANDICRAFT

  • 10.11 Ten Thousand Villages US

  • 10.12 The Handicrafts & Handloom Exports Corp. of India Ltd.

11 Appendix

  • 11.1 Scope of the report

  • 11.2 Currency conversion rates for US$

  • 11.3 Research methodology

  • 11.4 List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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