Arts And Crafts Market to outgrow and reach USD 50.9 BN By 2024
Posted On December 19, 2018
A recent analysis by Value Market Research on the Global Arts And Crafts Market depicts that the market was valued USD 35 BN (by revenue) in 2017 and is anticipated to reach USD 50.9 BN by 2024 with a CAGR of 5.5% between 2018 - 2024. As per the findings, the demand of the furniture and furnishings products is increasing at a significant pace which is directly influencing the growth of the arts and crafts market. Emerging combination of ethnic and contemporary designs concept in arts and crafts is major factor fueling the industry expansion. Moreover, arts and crafts have become easily visible and purchasable owing to the expansion of the distribution channel especially with the advent of online retail. Further, the various non-profit organization is engaged in promoting arts and crafts which is not only motivating people involved in this industry but also stimulating the market growth. Also, rising demand for households as well as commercial arts and crafts products in order to add color to decorum coupled with the growing travel and tourism industry is again boosting market growth.
Arts and crafts refer to the products which are made by hand with the help of simple tools this also include decorations and designs. These products are produced by various material such as wrought iron, natural fiber, paper, metal sheet, textile, river stone, ceramics, gift items, etc.
The report - "Global Arts And Crafts Market Report By Product (Drawing Pen, Paints And Stains, Craft Tools, And Others), Application (Home Use, Commercial Use, And Educational Use) And By Regions - Industry Trends, Size, Share, Growth, Estimation and Forecast, 2017-2024"- highlights the competitive environment of the market along with better understanding of the market as well as the demand of the market.
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The market has been segmented on the basis of product, application, and region. By product the market parts into drawing pen, paints and stains, craft tools, and others. Out of which, paints and stains are gaining hype in the market since it is the most popular type of arts and crafts. Application area includes home use, commercial use, and educational use. The commercial area is dominating the segment owing to rising demand from hotels, offices, and hospitals to decorate the place in order to attract the customers. The regional analysis covers North America, Europe, Asia-pacific, Latin America, and Middle East & Africa. Out of which, North America is accounted for the highest share of arts and crafts market owing to the rising demand for the handicraft products across developed countries in the region.
The Report Segments Global Arts And Crafts Market -
- Drawing Pen
- Paints and Stains
- Craft Tools
- Home Use
- Commercial Use
- Educational Use
- North America
- Latin America
- Middle East & Africa
Players Highlighted In The Report:
BEHR Process Corporation, Faber-Castell, Fiskars, Mundial, Paper Mate, Parker, Pentel, Pilot-Pen, PPG Architectural, and Westcott.
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