Indian Handicrafts Market to Grow at 7.7% Cagr by 2028
The latest research study, “Indian Handicrafts Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” has been added by IMARC Group. The India handicrafts market is expected to exhibit a CAGR of 7.8% during 2022-2027.
Handicrafts refer to a wide range of textiles, embroidery pieces, ceramics, artisanry, jewelry, etc., created by hand or by using easy tools instead of machines. These unique items represent the culture, heritage, and tradition of a particular region and have different social, aesthetic, and religious values. Numerous traditional techniques are applied to make handicrafts, including painting, hand dyeing, handloom weaving, woodblock, etc. In recent years, handicrafts have gained immense popularity as they require low capital investments, produce foreign exchange revenue, and offer employment opportunities.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
The expanding e-commerce industry is primarily driving the handicrafts market in India. Besides this, handicrafts are gaining immense traction due to the growing travel and tourism in the country. Tourists spend a considerable amount on purchasing souvenirs and other craft items, thereby providing scope for local artisans and craftsmen to manufacture and sell handicrafts.
Moreover, the rising demand for handmade decor accessories in homes, restaurants and offices, is also providing a thrust to the market. Various other factors, including the inflating consumer disposable incomes and the increasing willingness among individuals to invest in vintage and high-quality handicraft products, are expected to further propel the market for handicrafts in India over the coming years.
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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
Breakup by Distribution Channel:
Mass Retailers
Departmental Stores
Independent Retailers
Specialty Stores
Online Stores
Others
Breakup by End Use:
Residential
Commercial
Breakup by Region:
North India
West and Central India
South India
East India
Key highlights of the report:
Market Performance
Market Outlook
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Competitive Structure
Profiles of Key Players
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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