Europe Handicrafts Market Projected to Reach US$ 454.3 Billion by 2028

IMARC Group, a leading market research company, has recently released a report titled “Europe Handicrafts Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the Europe handicrafts market report, size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Handicrafts refer to the handmade products representing the values, culture, and traditions of a particular country or region. They play a vital role in economic development as they are among the principal means of foreign exchange revenue. Handicrafts are also perceived as a status symbol, owing to their quality, uniqueness, and the usage of natural materials, such as wood, raw fibers, beads, stones, sheet metal, wrought iron, textiles, paper, and ceramics. These products can be of various types, including woodware, handprinted fabrics and scarves, embroidered and crocheted goods, sculptures, pottery and glass wares, imitation jewelry, attars and agarbattis, etc. Handicrafts are extensively available across departmental and specialty stores, mass and independent retailers, and online distribution channels. 

How Big is the Europe handicrafts Industry?

The Europe handicrafts market size reached US$ 245.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 454.3 Billion by 2028, exhibiting a growth rate (CAGR) of 9.6% during 2023-2028.

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Current Trends Shaping the Europe Handicrafts Industry

The gradual shift towards contemporary designs and the escalating demand for handmade products for hospitals, offices, and hotels are among the primary factors driving the Europe handicrafts market. Besides this, the accessibility of these materials has become more convenient for the consumers, on account of the increasing internet penetration and the proliferation of e-commerce channels, which is further augmenting the market growth.

Moreover, the expanding travel and tourism industry and the growing popularity of commoditized handicrafts among tourists who are willing to spend greatly on souvenirs are also catalyzing the market across Europe. Apart from this, the emerging trend of handmade items, as they have lower energy requirements compared to machine-made products, which use electricity and several other fuels, is acting as another significant growth-inducing factor. Furthermore, the production of these materials assists in stimulating creativity and imagination, reducing stress and anxiety, and encouraging communication, socialization, participation, and teamwork, which is anticipated to propel the Europe handicrafts market over the forecasted period.    

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Product Type:

• Woodware
• Artmetal Ware
• Handprinted Textiles and Scarves
• Embroidered and Crocheted Goods
• Zari and Zari Goods
• Imitation Jewelry
• Sculptures
• Pottery and Glass wares
• Attars and Agarbattis
• Others

Breakup by Distribution Channel:

• Mass Retailers
• Departmental Stores
• Independent Retailers
• Specialty Stores
• Online Stores
• Others

Breakup by End Use:

• Residential
• Commercial

Breakup by Country:

• Germany
• France
• United Kingdom
• Italy
• Spain
• Others

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