NEW YORK, Aug. 6, 2021 /PRNewswire/ -- The handicrafts market is set to grow by $ 514.92 bn, progressing at a CAGR of about 13% during 2021-2025. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. The need for low capital investments will offer immense growth opportunities. However, the lack of information regarding handicraft products will hamper the market growth. Backed with competitive intelligence and benchmarking, our research reports on the handicrafts market are designed to provide entry support, customer profile & M&As as well as go-to-market strategy support.
Handicrafts Market 2021-2025: Scope
Base Year Considered
By Product and Geography
North America, Europe, APAC, MEA, and South America
Asian Handicrafts Pvt. Ltd., Fakih Group of Companies Pvt. Ltd., HimalayanMart.com, Minhou Minxing Weaving Co. Ltd., Native Crafts and Arts, Ngoc Dong Ha Nam Co. Ltd., Orient Handicraft Co. Ltd., OSM HANDICRAFT, Ten Thousand Villages US, and The Handicrafts & Handloom Exports Corp. of India Ltd.
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35% of the market's growth will originate from North America. The presence of favorable government policies for the import of handicrafts is anticipated to facilitate market growth, particularly in the US.
Furthermore, the handicrafts market share growth by the metal art ware and jewelry will be faster compared to other segments during the forecast period. In addition, China, India, Thailand, and Vietnam are expected to emerge as major producers of metal art ware and jewelry products during the forecast period.
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