Arts and crafts refers to a broad range of creative activities that involve making things by hand, often focusing on decorative or functional items. This movement emphasizes the use of natural materials and traditional craftsmanship techniques over mass production.
The arts and crafts market consists of sales, by entities (organizations, sole traders and partnerships), of handmade items, crafting supplies, tools and materials used for creating decorative or functional objects. It includes products like paints, fabrics, beads, papers and crafting kits for both hobbyists and professionals.
The global arts and crafts market was valued at $34,300.00 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 3.00%.
Rise In Disposable Income
During the historic period, the rise in disposable income drove the growth of the arts and crafts market. As people have greater financial flexibility, they are more inclined to purchase crafting materials, tools and DIY kits, contributing to increased market demand. This rise in disposable income has also encouraged individuals to invest in personalized and handmade gifts, further driving the expansion of the arts and crafts industry. For instance, according to the Bureau of Economic Analysis (BEA), a US-based government agency that provides official macroeconomic and industry statistics, disposable personal income per capita in the United States increased from $57,339 in November 2022 to $61,047 in November 2023. Also, in December 2022, according to the Census and Economic Information Center (CEIC), a UK-based provider of economic research on emerging and developed markets, the annual household income per capita in Russia reached $7,873.854, demonstrating an increase from the previous value of $6,566.509 in December 2021. Therefore, the rise in disposable income supported the market growth.
Launch Of Innovative Crafting Tools To Gain Competitive Edge
Major companies operating in the arts and crafts market are developing innovative products, such as specialized crafting tools, to gain a competitive edge in the market. Specialized crafting tools can significantly expand the creative possibilities for a crafter, enabling more intricate and professional results. These tools are often essential in turning a crafting hobby into a viable professional practice. For instance, in April 2024, D & L Craftworkz, an Australia-based manufacturer of arts and crafts materials, launched a range of arts and crafts supplies for enthusiasts and professionals in Australia. This new collection offers a comprehensive array of tools and materials essential for turning imaginative visions into reality. The new range of products includes D & L Air-dry clay, which is a versatile and low-cost material suitable for both children and adult crafts, from preschool art projects to handmade wedding decorations.
The global arts and crafts market is fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 8.61% of the total market in 2023.
Arts And Crafts Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global arts and crafts market as it emerges from the COVID-19 shut down.
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Where is the largest and fastest-growing market for arts and crafts? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The arts and crafts market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider arts and crafts market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by type, by materials used, by target audience, by distribution channel and by application.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the arts and crafts market.
- Global Market Size And Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis- Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by type, by materials used, by target audience, by distribution channel and by application in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major And Innovative Companies Details on the company profiles of other major and innovative companies in the market.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for arts and crafts providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
- 1) By Type: Painting And Drawing; Sewing And Fabric; Paper Crafts; Kids Crafts; Arts And Crafts Tools; Other Types
- 2) By Materials Used: Traditional Materials; Recycled And Upcycled Materials; Mixed Media
- 3) By Target Audience: Children's Crafts; Adult Crafts; Senior Crafts
- 4) By Distribution Channels: Brick-And-Mortar Retailers; Online Platforms
- 5) By Application: Personal Use; Commercial Use
- Companies Mentioned: FILA Group; Newell Brands Inc.; Crayola LLC.; Fiskars Group; Faber-Castell AG
- Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; Italy; Spain; UK; Russia
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time-series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; arts and crafts indicators comparison.
- Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.