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North American Handicrafts Market: Industry Trends, Share, Size, Growth, Opportunity and Forecasts 2020-2025
Dublin, Sept. 21, 2020 (GLOBE NEWSWIRE) -- The "North America Handicrafts Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025" report has been added to ResearchAndMarkets.com's offering.
The North American handicrafts market reached a value of around US$ 242.4 Billion in 2019. Handicrafts, also known as artisanry, handcrafting, crafting, and hand craftsmanship, can be defined as unique artefacts representing the tradition, culture and heritage of a country. They include products which are prepared either entirely by hand or with the help of tools. Handicraft products can have different values including aesthetic, creative, decorative, traditional, utilitarian, artistic, functional, cultural, social and religious. They play a vital role in the economic development of a country as handicrafts are a prominent medium for foreign exchange revenue, require low capital investments and offer employment opportunities.
The North American handicrafts market is currently being driven by several factors. With the emergence of online retailing and proliferation of various e-commerce websites, the accessibility to handicrafts has significantly increased. Consumers can now buy handicraft items by the click of their smartphones and have them shipped anywhere in the world. Moreover, social media and the internet have made it more convenient for craftsmen to directly access their target markets. Catalyzed by the aesthetic appeal and unique designs of handmade decor accessories, the demand in homes, offices, restaurants and other commercial places has escalated. Furthermore, the use of handmade products in the gifting industry has provided a positive impact on the growth of the market. Apart from this, handicrafts are non-essential items with a strong correlation with disposable incomes. Driven by strong economic growth of the region, per capita incomes have been increasing continuously over the past few decades. This has triggered the demand for high-quality, luxurious and vintage handmade products across the region. Handcrafted products have proved to be unique, customized, cost-effective, environment-friendly and have diversified product portfolio such as metal wares, wood wares, hand printed textiles, shawls, carpets, earthenware, jute products, marble sculptures, imitation jewelry and various other miscellaneous handicrafts. Looking forward, the market is forecast to reach a value of US$ 448.5 Billion by 2025, registering a CAGR of 10.8% during 2020-2025.
Key Questions Answered in This Report:
How has the North American handicrafts market performed so far and how will it perform in the coming years?
What are the key regions in the North America handicrafts market?
What is the breakup of the North American handicrafts market on the basis of product type?
What is the breakup of the North American handicrafts market on the basis of end-use?
What is the breakup of the North American handicrafts market on the basis of distribution channel?
What are the various stages in the value chain of the North America handicrafts industry?
What are the key driving factors and challenges in the North America handicrafts industry?
What is the structure of the North America handicrafts industry and who are the key players?
What is the degree of competition in the North America handicrafts industry?
Report Coverage:
Base Year Considered: 2019
Historical Data Coverage: 2014-2019
Market Forecast: 2020-2025
Currency: US$
Geography Covered: North America, United States, Canada and Mexico
Segments Covered: Product Type, End-Use and Distribution Channel
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction
5 Global Handicrafts Market
6 North America Handicrafts Market
7 North America Handicrafts Market: Breakup by Product Type
8 North America Handicrafts Market: Breakup by End-Use
9 North America Handicrafts Market: Breakup by Distribution Channel
10 North America Handicrafts Market: Breakup by Country
11 SWOT Analysis
12 Value Chain Analysis
13 Porter's Five Forces Analysis
14 Price Analysis
15 Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/r/7azl20
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