The latest research study, “Indian Handicrafts Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” has been added by IMARC Group. 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 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.
Indian Handicrafts Market Trends:
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 décor 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:
- Artmetal Ware
- Handprinted Textiles and Scarves
- Embroidered and Crocheted Goods
- Zari and Zari Goods
- Imitation Jewelry
- Pottery and Glass wares
- Attars and Agarbattis
Breakup by Distribution Channel:
- Mass Retailers
- Departmental Stores
- Independent Retailers
- Specialty Stores
- Online Stores
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Breakup by End Use:
Breakup by Region:
- North India
- West and Central India
- South India
- East India
Also Read – Top Handicrafts Companies in India
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