Posted On: 2022-01-07
Embroidered & crocheted goods acquired the largest market revenue share, among all the product types, in the overall Germany Handicraft Market – 6Wresearch
The Germany Handicraft market has been negatively impacted by a combination of factors, including the increase in adoption of factory-made goods, macro trends such as warmer summers and the disruption of the global supply chain owing to the COVID-19 pandemic. The tourism and retail sector in general in the country was severely impacted by the implementation of nation-wide lockdowns.
However, as the country begins to ease back into normalcy, the reopening of the retail sector and the bounce back of international tourism would help support the recovery of the handicrafts market in Germany.
According to 6Wresearch, the Germany Handicraft Market is projected to grow at a CAGR of 1.2% in terms of revenues during 2021-2027. The handicrafts market would be aided by the upcoming Creative World trade fair in Frankfurt and others such as the Central German Handicraft Fair. A general recovery in the country’s hospitality sector would also push the demand for handicrafts in the commercial segment as consumers look for traditional souvenir-type items and memorabilia.
By distribution channel, the mass-retailer segment remains the largest segment by market revenue share, due to their omnipresence across the country as well as their ability to provide multiple SKUs to customers at the same location. However, during the pandemic, the online sales of handicrafts saw a sharp increase in Germany as customers were prohibited to go to traditional physical retail outlets.
According to Rahul Dubey, Research Analyst, 6Wresearch, “By product type, embroidered & crocheted goods had the largest market revenue share in 2020 on account of high demand for embroidered clothes amongst females and the rising demand for crocheted bags in the country.
Art metalware was the second largest market revenue shareholder in the German handicraft market. Most of the demand for these artware came from the country’s large hospitality sector, where hotels and resorts typically employ the use of such metal pieces of art.”
Some of the major players in the market include Sandner GmbH, Krebs Glas Lauscha, Rug Star, MK Handicraft Co, Trautz Gmbh and Orient Handicraft etc.
“Germany handicraft market (2021-2027)” report provides an in-depth analysis with 14 figures and 4 tables, covered in 71 pages. The report estimates and forecasts the overall Germany handicraft market by product type, distribution channel and end-users. The report provides an unbiased and detailed analysis of the on-going market trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.