ARTS AND CRAFTS MARKET REPORT OVERVIEW
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The global arts and crafts market size was USD 44120 Million in 2021 and is projected to touch USD 74457.88 Million by 2031, exhibiting a CAGR of 5.4% during the forecast period.
Arts and crafts refers to making thing with one’s own hands and skill. It takes into account various art supplies such as drawing pens, stains, paints, craft tools, and other tools. It requires high degree of knowledge and technical skill to use specialized equipment and tools. It refers to wide variety of making things with one’s own hands. It is usually a hobby that is practiced from a prehistoric time. Craft involves various techniques and means such as involving textiles, plants, canvas or paper, and wood, metal or clay.
The growing demand for arts and crafts is due to increasing shift towards contemporary designs and increasing demand for handicrafts in various establishments. Penetration of e-commerce channels has provided the convenience for consumers to buy art supplies. Online retail is anticipated to boost the product demand. Flourishing tourism and travel industries is anticipated to provide lucrative opportunities for market growth. Personalization of art supplies and escalating demand for handicrafts are projected to facilitate the product demand.
COVID-19 Impact: Restriction on International Trade to Impede Market Growth
The global COVID-19 pandemic has been unprecedented and staggering, with arts and crafts experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The spike in CAGR is attributable to the arts and crafts market growth and demand returning to pre-pandemic levels once the pandemic is over.
The effects of the COVID-19 pandemic are already being felt on a global level, the global arts and crafts market was significantly influenced. The outbreak of COVID-19 had a negative impact on several markets. Various countries went into lockdown. With sudden pandemic, all kinds of businesses observed disruptions. With many restrictions in the pandemic, different types of markets were negatively impacted. Several economies were shutdown owing to shortages of art supplies as pandemic halted the movement of crafts and art supplies. Halt on international also restricted import and export of art supplies which resulted in decline in the sales of art-related products. Brick and mortar stores for the supplies were forced to shut down which affected the market growth.
LATEST TRENDS
"Online Retail to Boost Market Development"
Growing trend of e-commerce and retail is estimated to expand the growth of the global arts and crafts market. Art industry has experienced a vast change in the recent years which has led surge in the demand for art supplies. It has led to motivate the supply and demand for art supplies and materials. Online supply of art materials is expected to thrust as it is expected to create more penetration for the market. It is anticipated to convert potential customers and collaborate with online service providers. Such collaboration with e-commerce manufacturers is predicted to accelerate growth for arts and crafts market. Such increasing and new channels are anticipated to drive the market and pose opportunities for the market.
ARTS AND CRAFTS MARKET SEGMENTATION
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- By Type
Based on type; the market is divided into painting and drawing, sewing and fabric, paper crafts, kids’ crafts, arts and crafts tools, and others.
painting and drawing and kids’ craft are the leading parts of the type segment.
- By Application
Based on application; the market is divided into personal use and commercial use.
Personal use is the leading part of the application segment.
DRIVING FACTORS
"Personalization of Art Supplies to Enhance Market Growth"
The global arts and crafts market growth is anticipated to increase owing to personalization of the art supplies and materials. In recent years, art and craft has witnessed many changes where artists sell personalized and custom-made items through online platforms. There has also been growth in Do-it-yourself (DIY) trends which has attracted numerous customers and have made them interested in buying art materials. This has propelled experimentation with various florescent colors and pencil colors which is predicted to support the growth of market. Customization of various art supplies by manufacturers for promotional uses is anticipated to drive the market growth.
"Escalating Demand for Handicrafts to Expand Market Performance"
Escalating demand for arts and crafts for handicrafts is growing owing to its demand from offices, hotels, and hospitals. Accessibility of handicrafts has become more convenient due to growing penetration of e-commerce channels. It is expected to present opportunities for artists to sell their artisans and handicrafts. Such handicraft production can propel creativity, stress reduction, and imagination. Such uses of the product are anticipated to fuel the demand in the arts and crafts market.
RESTRAINING FACTORS
"High Prices to Hamper Market Growth"
There are a number of factors that can push the growth of the arts and crafts market. Restraining factors such as high prices of the art materials and art supplies. Personalized and custom-made accessories have high prices due to time and efforts required to make such paintings and handicrafts. Costly art supplies limits consumers to buy new materials and supplies. This factor is anticipated to restrict market growth.
ARTS AND CRAFTS MARKET REGIONAL INSIGHTS
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"North America to Lead Market Due to Growing Innovations of Art Supplies"
North America holds the largest part of the global arts and crafts market due to growing innovations of art supplies. Growing demand for art supplies amongst millennials and generation Z in developed countries is anticipated to create number of opportunities for the market. Growing penetration of e-commerce channels and online retail is expected to drive the market growth. Launch of new art products and high spending capabilities is expected to facilitate demand for art materials. Presence of high number of companies of art supplies in the region is expected to increase market share.
KEY INDUSTRY PLAYERS
"Market Players to Boost Market Growth"
The report delivers information about the list of market players and their operations in the industry. The information is collected and reported with proper research, technological developments, acquisitions, mergers, expanding production lines, and partnerships. Other aspects examined for this market include companies producing and introducing new products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.
List of Market Players Profiled
- Crayola (U.S.)
- Newell Brands (U.S.)
- FILA Group (Italy)
- Shanghai M&G Stationery (China)
- Faber-Castell (Germany)
- Societe BIC (France)
- Kokuyo Camlin (India)
- Pilot-Pen (Japan)
- Pentel (Japan)
- Fiskars (Finland)
- Mundial SA (Brazil)
- Beifa Group
- Pelikan International (Malaysia)
- Westcott (U.S.)
REPORT COVERAGE
This research profiles a report with extensive studies that take into description of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 44120 Million in 2021 |
Market Size Value By |
US$ 74457.88 Million by 2031 |
Growth Rate |
CAGR of 5.4% from 2021 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type, Application & Region |
Frequently Asked Questions ON Arts and Crafts Market
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How big is the arts and crafts market?
The global arts and crafts market is expected to reach USD 74457.88 million by 2031.
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What can be the compound annual growth rate of the global arts and crafts market?
The arts and crafts market is expected to exhibit a CAGR of 5.4% by 2024-2031.
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What factors are driving arts and crafts market?
Drivers of this arts and crafts market are personalization of art supplies and escalating demand for handicrafts.
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Who are the key players in arts and crafts market across the world?
Crayola, Newell Brands, FILA Group, Shanghai M&G Stationery, Faber-Castell, Societe BIC, Kokuyo Camlin, Pilot-Pen, Pentel, Fiskars, Mundial SA, Beifa Group, Pelikan International, and Westcott are key companies operating in the arts and crafts market.
