According to IMARC Group’s latest report, titled “North America Handicrafts Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, The North America handicrafts market size reached US$ 301.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 531.2 Billion by 2028, exhibiting a growth rate (CAGR) of 10% during 2023-2028.
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Handicrafts, also called as artisanry, refer to unique artifacts representing the tradition, culture, and heritage of a country. They are handmade products that are made entirely by hand or using simple non-automated tools, including scissors, carving equipment, or hooks instead of machines. Many handcrafters use natural and entirely indigenous materials, while others prefer modern materials, such as sheets, wood, metals, beads, stones, wrought iron, textiles, paper, and ceramics. Handicrafts play a vital role in the economic development of a nation, as they provide employment opportunities and act as a prominent medium for foreign exchange revenue.
North America Handicrafts Market Trends:
The introduction of online retail and the increasing number of e-commerce channels have made artisanry more accessible to consumers are primarily augmenting the North America handicrafts market. Furthermore, the elevating demand for handmade decor items in both the residential and commercial sectors is positively influencing the North America handicrafts market growth. Apart from this, the expanding travel and tourism sector provides vast opportunities for local artisans and manufacturers to produce commoditized products and sell them to tourists is acting as another significant growth-inducing factor. Moreover, the launch of favorable government initiatives to encourage handicraft production is also bolstering the regional market. Besides this, the introduction of modern designs by manufacturers to cater to the tastes and choices of different consumers is further catalyzing the market growth. Additionally, the inflating income levels, the shifting consumer preferences toward ethnic decor items, and the low capital investment required by artisanry manufacturing units are expected to drive the North America handicrafts market in the coming years.
North America Handicrafts Market 2023-2028 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the North America handicrafts market has been studied in the report with the detailed profiles of the key players operating in the market.
Key Market Segmentation:
The report has segmented the market into the following categories:
Breakup by Product Type:
Handprinted Textiles and Scarves
Embroidered and Crocheted Goods
Zari and Zari Goods
Pottery and Glass Wares
Attars and Agarbattis
Breakup by End-Use:
Breakup by Distribution Channel:
Breakup by Region:
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This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.
Key Highlights of the Report:
Market Performance (2017-2022)
Market Outlook (2023-2028)
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape
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