Handicrafts Market by 2023: Highlights the Competitive Scenario of the Market and Major Competitors
The
global handicrafts market has been up
surging, due to the increasing interest of people in art and culture. A large
number of micro and small enterprises have evolved in the developing countries
in the past few years, where artisans from poor communities are involved in the
creation of handicrafts. Their artworks are also valued on humanitarian
grounds.
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The
demand based on the type of handicrafts is difficult to analyze, owing to
constantly evolving trends. This has compelled the handicraft producers to keep
themselves updated about the ongoing trends, so that they can match the
consumer expectations. At present, the growth of the furniture and furnishings
segment in the global handicrafts market is increasing at a rapid pace. The
market has also been observed to shift from ethnic designs to more contemporary
styles. Also, the combination of ethnic and contemporary designs in handicraft
products is trending these days. The quality of handicraft products has also
improved over the years, due to their increasing adoption among the high class
society.
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The
increasing travel and tourism is also supporting the growth of the global
handicrafts market. The tourists on recreational tour are always on a hunt to
collect souvenirs and specialty handicrafts from the places they visit. This
has also led to the development of a large unorganized handicrafts market
especially in the developing countries.
The
global handicrafts market is trade driven, due to low priced products. The key
handicraft vendors in the global handicrafts market are Asian Handicrafts,
Fakih Handicrafts, Shandong Laizhou Arts and Crafts, Ten Thousand Villages,
Native Crafts and Arts, The Handicrafts Gallery, Minhou Minxing Weaving, NGOC
Dong Ha Nam, and Oriental Handicrafts.
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