According to IMARC Group latest published report, titled “India Handicrafts Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” that The handicrafts market in India reached US$ 3,968.0 Million in 2022. Looking forward, the market expected to reach US$ 6,218.4 Million by 2028, exhibiting a growth rate (CAGR) of 7.7% during 2023-2028.
Handicrafts represent unique artifacts that are either handmade or made by using simple tools instead of machines. They portray the traditional, cultural, artistic values, etc., of a place or country. Handicrafts consist of woodware, art metalware, handprinted textiles and scarves, embroidered and crocheted goods, imitation jewelry, sculptures, pottery and glass wares, attars, etc. They are manufactured from natural materials, such as sheet metal, wood, natural fibers, beads, stones, wrought iron, textiles, paper, ceramics, etc. Handicrafts add aesthetic as well as decorative value. In line with this, they are a prominent means for foreign exchange revenue and are perceived as a symbol of status. Consequently, handicrafts are gaining extensive popularity in India.
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India Handicrafts Market Trends:
The growing travel and tourism, the rising disposable income levels, and the introduction of contemporary and high-quality designs are among the key factors stimulating the India handicrafts market. Furthermore, the increasing consumer expenditure capacities on purchasing souvenirs and other craft items are providing opportunities for local artisans and craftsmen to produce customized and sell efficient products, which is also propelling the market growth.
Apart from this, continuous advancements in the accessibility of handicraft items on numerous online and offline portals are acting as significant growth-inducing factors. Moreover, the escalating demand for handmade decor accessories in homes, offices, buildings, restaurants, etc., is further catalyzing the market growth across the country. Besides this, they require low capital investments and offer various employment opportunities to individuals, which is expected to fuel the India handicrafts market over the forecasted period.
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The report cover the below key market segments:
By Product Type:
- Artmetal Ware
- Handprinted Textiles and Scarves
- Embroidered and Crocheted Goods
- Zari and Zari Goods
- Imitation Jewelry
- Pottery and Glass wares
- Attars and Agarbattis
By Distribution Channel:
- Mass Retailers
- Departmental Stores
- Independent Retailers
- Specialty Stores
- Online Stores
By End Use:
- North India
- West and Central India
- South India
- East India
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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