Asia Pacific Handicrafts Market Introduction and Overview
According to SPER Market Research, the Asia Pacific Handicrafts Market is estimated to reach USD 603.29 Billion by 2033 with a CAGR of 12.1%.
The report includes an in-depth analysis of the Asia Pacific Handicrafts Market, including market size and trends, product mix, applications, and supplier analysis. Handmade goods that embody a location or country's traditional, cultural, and artistic values are known as handicrafts. They are frequently used for practical, functional, artistic, and decorative reasons. They add to a nation's foreign exchange earnings and create jobs, which both significantly boost the economy of that nation.
Market Key Trends and Challenges
The Asia Pacific region's growing domestic and international tourism is the main driver of the handicrafts sector, pushing local artisans and craftsmen to create commoditized handicrafts. Additionally, the top handicraft businesses are expanding their exports of handlooms, carpets, textiles, and clothing, which is bolstering the expansion of the regional market. In order to provide market potential, these businesses also teach local artists in processing and designing. The demand for handcraft products is also being positively impacted by government efforts and the growing e-commerce sector. To encourage the sale of handicrafts, for example, the Vietnamese Chamber of Commerce and Industry (VCCI) has developed an online platform that offers comprehensive descriptions of the goods and artists in the nation.
However, price fluctuations for raw materials like metal, glass, wood, and others have a direct impact on how much it costs to produce handmade goods. For enterprises and craftspeople, the cost of manufacturing is also boosted by the rising prices of these raw materials. Manufacturers and artisans see a decline in their profit margins when the cost of raw materials rises, which eventually drives up the price of the finished product on the market. Because of this, the products are less competitive in the market, particularly if customers have access to less expensive options or are price sensitive. It is expected that this aspect will impede the global market's expansion.
Market Competitive Landscape
The major key players in the Asia Pacific Handicrafts Market are: Handicraft Collections (India) Pvt. Ltd., Mariyam Handicraft, Naraiphand Co., Ltd., Pakistan Handicraft, Sharco Enterprises, Sindh Handicrafts, Thai International Handicraft Ltd., Others. Key players in the Asia-Pacific handicrafts market, such as established corporations and local artists, are in fierce competition with one another. The vibrant nature of the market is enhanced by the varied range of traditional crafts exhibited by nations such as China, Indonesia, India, and others. To obtain a competitive advantage, major players prioritise sustainable practices, high-quality craftsmanship, and innovative product development. E-commerce sites are essential for reaching a wider audience. A combination of contemporary designs, clever business methods, and traditional workmanship shapes the ever-changing scene.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Product Type, By End Use, By Distribution Channel
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| Regions covered | Australia, China, India, Indonesia, Japan, Malaysia, Pakistan, South Korea, Thailand, Others
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| Companies Covered | Handicraft Collections (India) Pvt. Ltd., Mariyam Handicraft, Naraiphand Co., Ltd., Pakistan Handicraft, Sharco Enterprises, Sindh Handicrafts, Thai International Handicraft Ltd., Others
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COVID-19 Impact on Asia Pacific Handicrafts Market
The commercial expansion of the handmade business faced enormous hurdles because to the COVID-19 pandemic, especially on a local level. Disruptions in the supply chain for raw materials had a detrimental effect on the handicraft industry, causing makers of handicrafts to reduce their capacity for production. In addition, a number of lockdowns, travel restrictions, and economic instability contributed to a sharp decline in the demand for handmade goods in 2020.
Key Target Audience:
- Art and Craft Exhibitions/Markets
- Artisans and Craftsmen
- Cultural Organizations
- Exporters and Importers
- Individuals interested in unique, handmade products for personal use or gifting
- Interior Designers
- Retailers and Artisanal Shops
- Tourism Industry
- Other
Our in-depth analysis of the Asia Pacific Handicrafts Market includes the following segments:
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By Product Type:
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Artmetal Ware
Attars and Agarbattis
Embroidered and Crocheted Goods
Handprinted Textiles and Scarves
Imitation Jewelry
Pottery and Glass Wares
Sculptures
Woodware
Zari and Zari Goods
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By End Use:
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Residential
Commercial
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By Distribution Channel:
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Departmental Stores
Independent Retailers
Mass Retailers
Online Stores
Specialty Stores
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Key Topics Covered in the Report:
- Asia Pacific Handicrafts Market Size (FY’2023-FY’2033)
- Overview of Asia Pacific Handicrafts Market
- Segmentation of Asia Pacific Handicrafts Market By Product Type (Artmetal Ware, Attars and Agarbattis, Embroidered and Crocheted Goods, Handprinted Textiles and Scarves, Imitation Jewelry, Pottery and Glass Wares, Sculptures, Woodware, Zari and Zari Goods, Others)
- Segmentation of Asia Pacific Handicrafts Market By End Use (Residential, Commercial)
- Segmentation of Asia Pacific Handicrafts Market By Distribution Channel (Departmental Stores, Independent Retailers, Mass Retailers, Online Stores, Specialty Stores, Others)
- Statistical Snap of Asia Pacific Handicrafts Market
- Expansion Analysis of Asia Pacific Handicrafts Market
- Problems and Obstacles in Asia Pacific Handicrafts Market
- Competitive Landscape in the Asia Pacific Handicrafts Market
- Impact of COVID-19 and Demonetization on Asia Pacific Handicrafts Market
- Details on Current Investment in Asia Pacific Handicrafts Market
- Competitive Analysis of Asia Pacific Handicrafts Market
- Prominent Players in the Asia Pacific Handicrafts Market
- SWOT Analysis of Asia Pacific Handicrafts Market
- Asia Pacific Handicrafts Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Asia Pacific Handicrafts Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Asia Pacific Handicrafts Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Asia Pacific Handicrafts Market
7. Asia Pacific Handicrafts Market, By Product Type (USD Million)
7.1. Asia Pacific Handicrafts Market Value Share and Forecast, By Product Type, 2023-2033
7.2. Artmetal Ware
7.3. Attars and Agarbattis
7.4. Embroidered and Crocheted Goods
7.5. Handprinted Textiles and Scarves
7.6. Imitation Jewelry
7.7. Pottery and Glass Wares
7.8. Sculptures
7.9. Woodware
7.10. Zari and Zari Goods
7.11. Others
8. Asia Pacific Handicrafts Market, By End Use (USD Million)
8.1. Asia Pacific Handicrafts Market Value Share and Forecast, By End Use, 2023-2033
8.2. Residential
8.3. Commercial
9. Asia Pacific Handicrafts Market, By Distribution Channel (USD Million)
9.1. Asia Pacific Handicrafts Market Value Share and Forecast, By Distribution Channel, 2023-2033
9.2. Departmental Stores
9.3. Independent Retailers
9.4. Mass Retailers
9.5. Online Stores
9.6. Specialty Stores
9.7. Others
10. Asia Pacific Handicrafts Market Forecast, 2019-2033 (USD Million)
10.1. Asia Pacific Handicrafts Market Size and Market Share
11. Asia Pacific Handicrafts Market, By Product Type, 2019-2033 (USD Million)
11.1. Asia Pacific Handicrafts Market Size and Market Share By Product Type (2019-2026)
11.2. Asia Pacific Handicrafts Market Size and Market Share By Product Type (2027-2033)
12. Asia Pacific Handicrafts Market, By End Use, 2019-2033 (USD Million)
12.1. Asia Pacific Handicrafts Market Size and Market Share By End Use (2019-2026)
12.2. Asia Pacific Handicrafts Market Size and Market Share By End Use (2027-2033)
13. Asia Pacific Handicrafts Market, By Distribution Channel, 2019-2033 (USD Million)
13.1. Asia Pacific Handicrafts Market Size and Market Share By Distribution Channel (2019-2026)
13.2. Asia Pacific Handicrafts Market Size and Market Share By Distribution Channel (2027-2033)
14. Asia Pacific Handicrafts Market, By Region, 2019-2033 (USD Million)
14.1. Asia Pacific Handicrafts Market Size and Market Share By Region (2019-2026)
14.2. Asia Pacific Handicrafts Market Size and Market Share By Region (2027-2033)
14.3. Australia
14.4. China
14.5. India
14.6. Indonesia
14.7. Japan
14.8. Malaysia
14.9. Pakistan
14.10. South Korea
14.11. Thailand
14.12. Others
15. Company Profile
15.1. Handicraft Collections (India) Pvt. Ltd
15.1.1. Company details
15.1.2. Financial outlook
15.1.3. Product summary
15.1.4. Recent developments
15.2. Mariyam Handicraft
15.2.1. Company details
15.2.2. Financial outlook
15.2.3. Product summary
15.2.4. Recent developments
15.3. Naraiphand Co., Ltd.
15.3.1. Company details
15.3.2. Financial outlook
15.3.3. Product summary
15.3.4. Recent developments
15.4. Pakistan Handicraft
15.4.1. Company details
15.4.2. Financial outlook
15.4.3. Product summary
15.4.4. Recent developments
15.5. Sharco Enterprises
15.5.1. Company details
15.5.2. Financial outlook
15.5.3. Product summary
15.5.4. Recent developments
15.6. Sindh Handicrafts
15.6.1. Company details
15.6.2. Financial outlook
15.6.3. Product summary
15.6.4. Recent developments
15.7. Thai International Handicraft Ltd.
15.7.1. Company details
15.7.2. Financial outlook
15.7.3. Product summary
15.7.4. Recent developments
15.8. Others
16. List of Abbreviations
17. Reference Links
18. Conclusion
19. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
