North America Handicrafts Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024
The North America handicrafts market reached a value of around US$ 218 Billion in 2018. Handicrafts, also known as artisanry, handcrafting, crafting, and handcraftsmanship, can be defined as unique artefacts representing the tradition, culture and heritage of a country. They include products which are prepared either entirely by hand or with the help of tools. Handicraft products can have different values including aesthetic, creative, decorative, traditional, utilitarian, artistic, functional, cultural, social and religious. They play a vital role in the economic development of a country as handicrafts are a prominent medium for foreign exchange revenue, require low capital investments and offer employment opportunities.
The origin of handicrafts cannot be pinpointed to an era or year as they are connected to the inception of a culture and tradition itself. However, decorative arts gained new appreciation with the initiation of the Arts and Crafts Movements which developed in the latter half of the 19th Century in Europe with a continuation by designers in North America. Subsequently, the movement emerged in the 1920s in Japan and was known as the Mingei movement. It had a significant effect in Europe until the 1930s when the movement was replaced by Modernism which defined various cultural trends and changes in western society during the late 19th Century and early 20th Century. With time, handicrafts also gained immense popularity and importance across the globe.
North America handicrafts market is currently being driven by several factors. Rising travel and tourism in the region has attracted large number of international visitors offering many opportunities to local handicraft manufacturers to sell their products to tourists as they are willing to spend significant amount of money on souvenirs and other craft items. Moreover, with the emergence of online retailing and proliferation of various e-commerce websites, the accessibility to handicrafts has significantly increased. Consumers can now buy handicraft items by the click of their smartphones and have them shipped anywhere in the world. Moreover, social media and the internet have made it more convenient for craftsmen to directly access their target markets. Catalyzed by the aesthetic appeal and unique designs of handmade décor accessories, the demand in homes, offices, restaurants and other commercial places has escalated. Furthermore, the use of handmade products in the gifting industry has provided a positive impact on the growth of the market. Apart from this, handicrafts are non-essential items with a strong correlation with disposable incomes. Driven by strong economic growth of the region, per capita incomes have been increasing continuously over the past few decades. This has triggered the demand for high-quality, luxurious and vintage handmade products across the region. Handcrafted products have proved to be unique, customized, cost-effective, environment-friendly and have diversified product portfolio such as metal wares, wood wares, hand printed textiles, shawls, carpets, earthenware, jute products, marble sculptures, imitation jewelry and various other miscellaneous handicrafts. Looking forward, IMARC Group expects the market to reach a value of US$ 402 Billion by 2024, registering a CAGR of nearly 11% during 2019-2024.
North America Handicrafts Market
Key Regions Analyzed
Analysis for Each Country
Market by Product Type
Handprinted Textiles and Scarves
Embroidered and Crocheted Goods
Zari and Zari Goods
Pottery and Glass Wares
Attars and Agarbattis
Market by End-Use
Market by Distribution Channel
Value Chain Analysis
Key Drivers and Challenges
Porters Five Forces Analysis
Key Player Profiles
Key Questions Answered in This Report:
How has the North America handicrafts market performed so far and how will it perform in the coming years?
What are the key regions in the North America handicrafts market?
What is the breakup of the North America handicrafts market on the basis of product type?
What is the breakup of the North America handicrafts market on the basis of end-use?
What is the breakup of the North America handicrafts market on the basis of distribution channel?
What are the various stages in the value chain of the North America handicrafts industry?
What are the key driving factors and challenges in the North America handicrafts industry?
What is the structure of the North America handicrafts industry and who are the key players?
What is the degree of competition in the North America handicrafts industry?
Base Year Considered: 2018
Historical Data Coverage: 2013-2018
Market Forecast: 2019-2024
Geography Covered: North America, United States, Canada and Mexico
Segments Covered: Product Type, End-Use and Distribution Channel
IMARC Group’s latest report provides a deep insight into the North America handicrafts market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the North America handicrafts market in any manner.
Report Customization: Although IMARC has tried to cover everything in the North America handicrafts market landscape, we believe that every stakeholder may have their own specific needs. In view of this, we provide up to 20-man hours of free customization for each report.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook