GCC Handicrafts Market To Grow at (CAGR) of 11.8% during 2024-2032

The GCC handicrafts market size is projected to exhibit a growth rate (CAGR) of 11.8% during 2024-2032. The increasing demand for authentic and traditional products, the rising governmental support and initiatives aimed at preserving and promoting traditional crafts, and the growing emphasis on sustainability are some of the key factors driving the market.

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Factors Affecting the Growth of the GCC Handicrafts Industry:

• Cultural Heritage and Tourism

The GCC handicrafts market is significantly driven by the rich cultural heritage and increasing tourism in the region. The countries of the Gulf Cooperation Council, including Saudi Arabia, the UAE, Kuwait, Qatar, Bahrain, and Oman, possess a diverse range of traditional crafts that reflect their historical and cultural identities. These handicrafts are an expression of cultural heritage and serve as souvenirs for tourists. The rising number of tourists, attracted by initiatives like Dubai Expo 2020 and Saudi Vision 2030, has led to increased demand for authentic and traditional handicrafts, providing a substantial boost to the market.

• Government Initiatives and Support

Governments in the GCC region have been actively promoting the handicrafts sector as part of their economic diversification strategies. Various initiatives aimed at preserving traditional crafts, supporting artisans, and promoting handicrafts both domestically and internationally have been implemented. These initiatives include funding, training programs for artisans, and marketing support. Such government backing is crucial in sustaining and expanding the handicraft market in the region, ensuring that these traditional skills are preserved and passed down through generations.

• Increasing Demand for Sustainable and Unique Products

There is a growing trend toward sustainability and unique, personalized products globally, which is also reflected in the GCC handicrafts market. Consumers, especially millennials and Gen Z, are increasingly seeking products that are environmentally friendly and have a unique cultural story. Handicrafts, often made from natural, locally-sourced materials and embodying traditional techniques, fit this demand perfectly. This shift in consumer preferences is driving a renewed interest in handicrafts, presenting an opportunity for local artisans to expand their market reach.

GCC Handicrafts Market Report Segmentation:

Breakup by Product Type:

• Woodware
• Artmetal Ware
• Handprinted Textiles and Scarves
• Embroidered and Crocheted Goods
• Zari and Zari Goods
• Imitation Jewelry
• Sculptures
• Pottery and Glass Wares
• Attars and Agarbattis
• Others

Based on the product type, the market has been segregated into woodware, artmetal ware, handprinted textiles and scarves, embroidered and crocheted goods, zari and zari goods, imitation jewelry, sculptures, pottery and glass wares, attars and agarbattis, and others.

Breakup by Distribution Channel:

• Mass Retailers
• Departmental Stores
• Independent Retailers
• Specialty Stores
• Online Stores
• Others

On the basis of the distribution channel, the market has been categorized into mass retailers, departmental stores, independent retailers, specialty stores, online stores, and others.

Breakup by End Use:
• Residential
• Commercial

Based on the end use, the market has been bifurcated into residential and commercial.

Breakup by Country:
• Saudi Arabia
• UAE
• Qatar
• Bahrain
• Kuwait
• Oman

Region-wise, the market has been divided into Saudi Arabia, UAE, Qatar, Bahrain, Kuwait, and Oman.

Global GCC Handicrafts Market Trends:

The GCC handicrafts market is witnessing a transformation with the advent of new trends and opportunities, primarily influenced by technological advancements and changing consumer preferences. The integration of e-commerce platforms is a significant trend, offering artisans a wider market reach and enabling them to connect with customers beyond traditional local and tourist markets. This digital transformation is particularly important in the context of the COVID-19 pandemic, which has accelerated the shift to online shopping.

Additionally, there is a growing emphasis on sustainability, with an increasing number of consumers seeking environmentally friendly and ethically sourced products. This shift is prompting artisans to adopt sustainable practices in their production processes, thus attracting a more environmentally conscious customer base. Another emerging trend is the fusion of traditional crafts with contemporary designs. This approach caters to the tastes of a younger, more global audience while preserving the essence of traditional craftsmanship. This blend of tradition and modernity is creating unique products, adding value and appeal to the GCC handicrafts market.

Other Key Points Covered in the Report:

• COVID-19 Impact
• Porters Five Forces Analysis
• Value Chain Analysis
• Strategic Recommendations

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This release was published on openPR.