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The handicrafts market size is forecast to increase by USD 723.6 billion at a CAGR of 13.1% between 2023 and 2028. The handicraft market is witnessing significant growth, driven by the need for low capital investments and the emergence of online retail and e-commerce channels. This trend is particularly prominent in the production of embroidered goods, Zari goods, imitation jewelry, Attars, and Agarbattis. Female artisans and total artisans in handicraft clusters, such as those in Surat, are capitalizing on this growth by supplying souvenirs and local artisanal products to both domestic and international markets. However, the market faces challenges, including a lack of product awareness and competition from mass-produced, low-cost imports. To overcome these challenges, stakeholders in the handicraft sector must focus on promoting the unique cultural value and authenticity of handmade goods. This can be achieved through targeted marketing campaigns, collaborations with retailers and e-commerce platforms, and investments in product innovation and design.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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