The global handicrafts market is anticipated to grow at a CAGR of 4.1% during the forecast period (2024–2031). The state-run organizations’ initiatives to promote and develop the status quo of the industry through schemes, platform development (handicrafts portals), and promotion programs have driven the global handicrafts market. For instance, in September 2023, PM Vishwakarma, a Central Sector Scheme, was established by the Indian Prime Minister to provide comprehensive support such as skill upgradation, toolkit incentives, marketing, and credit support among others to craftsmen and craftspeople, which includes Carpenter (Suthar/Badhai), Boat Maker, Armourer, Blacksmith (Lohar), Hammer and Tool Kit Maker, Locksmith, Goldsmith (Sonar), Potter (Kumhaar), Sculptor (Moortikar, stone carver), Stonebreaker, Cobbler (Charmkar), Shoesmith/Footwear artisan, Mason (Rajmistri), Basket/Mat/Broom Maker/Coir Weaver, Doll & Toy Maker (Traditional), Barber (Naai), and Garland Maker (Malaka).
Browse the full report description of “Handicrafts Market Size, Share & Trends Analysis Report by Product Type (Woodwork, Metal Artwork, Hand Printed Textiles & Embroider Goods, Imitation Jewelry, and Others), by End-User (Residential, and Commercial), and by Distribution Channel (Specialty Stores, Independent Retail Stores, and Online Stores) Forecast Period (2024-2031)” at https://www.omrglobal.com/industry-reports/handicrafts-market
Further, the support is aimed at creating a domestic as well as an export market for such unique products, which is expected to benefit the economy while also empowering the artisans and craftsmen of the nation. In October 2021, the Ministry of Textiles approved the continuation of the Comprehensive Handicrafts Cluster Development Scheme (CHCDS) with a total investment of $2.0 million. The scheme will continue until March 2026. Under this initiative, handcraft artists will receive infrastructure support, market access, design and technological upgrades, and other benefits.
Market Coverage
· The market number available for 2024-2031
· Base year: 2023
· Forecast period: 2024-2031
· Segment Covered-
o By Product Type
o By End-User
o By Distribution Channel
· Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape: Amazon.com, Inc., IKEA Group., and Reliance Retail Ltd. among others.
Key questions addressed by the report
Global Handicrafts Market Report Segment
By Product Type
By End-User
By Distribution Channel
Global Handicrafts Market Report Segment by Region
North America
· United States
· Canada
Europe
· UK
· Germany
· Italy
· Spain
· France
· Rest of Europe
Asia-Pacific
· China
· India
· Japan
· South Korea
· Rest of Asia-Pacific
Rest of the World
· Latin America
· The Middle East and Africa
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