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Craft Tools Market Size - By Product Type (Drawing & Painting Tools, Cutting Tools, Paper Crafts & Decorative Items, and Others), By Distribution Channel (Convenience Stores, Hypermarkets & Supermarkets, Online Stores, and Specialty Stores), By End User (Households, Educational Institutes, Offices) & Region – Forecasts By 2022-2030

  • PUBLISHED ON
  • 2024-01-01
  • NO OF PAGES
  • 276
  • CATEGORY
  • Retails & Consumer
Craft Tools Market- Description
Craft tools are used by people to create various decorative items for homes, weddings, projects, and projects, among others. They are widely adopted by those people who are good at designing decorative objects such as paintings, showpieces, and toys, among others. Moreover, these tools are also used by students for craft based projects pertaining to various subjects such as science, art, and social studies, among others. The most commonly used craft tools are spinning wheels, craft glue, glitter pens, paint, jewelry pliers, rotary tool, tweezers, scissors, and bar clamps, among others.

Craft Tools Market- Overview
The global craft tools market is presently valued at USD 39.26 billion and is expected to amplify with a CAGR of 8.1% over 2022-2030. The industry, influenced by various growth inducing factors is anticipated to amass a valuation of USD 73.21 billion by end of the assessment timeline.
Growing trends of adopting art & craft as a primary hobby, rising popularity of handmade decorative items, and increasing number of cultural events worldwide are primarily augmenting the outlook of this business sphere.
Also, increasing craft activities in educational institutions along with the surging government initiatives to encourage individuals to practice traditional art and craft forms are adding traction to the development of this industry.

Moreover, rising R&D activities in the field, surging employment scope in the artistic field, and growing focus of players to develop innovative items in the field are aiding the expansion of this market.
On the contrary, some of the craft tools are costly in nature and hence cannot be afforded by all sections of the society. This, in turn is affecting the remuneration scope of this business vertical.

Craft Tools Market- Key trends

Rising practice of craft based hobbies worldwide to stimulate industry dynamics

People have various hobbies which they practice during their leisure. Likewise, making various crafts for decoration is also practiced as a hobby by many. In fact, this hobby also turns into a livelihood for many as some people start selling their self-made items to consumers via various sales medium like e-commerce sites. This is escalating the demand for craft tools across the globe.

COVID-19 pandemic had a positive influence on the market

Stringent lockdowns and other restrictive measures pushed people to turn into their hobbies. It is evident that the sudden shutdowns and remote working trends took a toll on the mental health of many, thereby many people started practicing their hobbies to stay distracted. These factors in turn are propelling industry growth.

Craft Tools Market- Segmental assessment

By Product Type
• Drawing & Painting Tools
• Cutting Tools
• Paper Crafts & Decorative Items
• Others

By Distribution Channel
• Convenience Stores
• Hypermarkets & Supermarkets
• Online Stores
• Specialty Stores
The online stores segment is slated to generate significant returns over the stipulated timeline owing to the widespread internet proliferation across the globe.

By End User
• Households
• Educational Institutes
• Offices
• Others

Craft Tools Market- Geographical landscape
Considering the geographical frame of reference, the major regions influencing the expansion trends of this industry vertical are North America, Middle East & Africa, Europe, Asia Pacific, and Latin America. Among these, Asia Pacific is projected to capture a substantial revenue share over 2022-2030. This is attributable to the increasing number of craft based activities in educational institutions.

Craft Tools Market- Competitive hierarchy
The prominent players characterizing the remuneration scope of this marketplace are Access Companies, b. dazzle, inc., BOWWOWMEOW, Brain Noodles LLC, China Towins Gifts & Toys Co. Ltd., coliro Pearlcolors, Craftslane, eCraftIndia, eeBoo Corp, Ethnic Kraft, Himalaya Fine Art, Hygloss Products Inc., Joobli Studio, Jovi Corp., Nex Products Inc., Night Light Designs, Poloppo Inc., Sabmatt Corporation, Scratch-Art Co., Inc., and The Silver Moccasin.
Notably, in June 2018, Fabbrica Italiana Lapis ed Affini S.p.A. announced the acquisition of Pacon Corporation to enhance its portfolio in the field.

Report scope
Global Craft Tools Market: Historical Trends- 2018-2021
Global Craft Tools Market: Forecast Years- 2022-2030
Global Craft Tools Market 2022- USD 39.26 billion
Global Craft Tools Market CAGR- 8.1%
Global Craft Tools Market 2030- USD 73.21 billion

Key segments covered-
• By Product Type (Drawing & Painting Tools, Cutting Tools, Paper Crafts & Decorative Items, and Others)
• By Distribution Channel (Convenience Stores, Hypermarkets & Supermarkets, Online Stores, and Specialty Stores)
• By End User (Households, Educational Institutes, Offices, and Others)

Major regions and countries-
• North America (U.S., Canada, and Mexico)
• Latin America (Brazil, Argentina, and Colombia)
• Europe (Germany, U.K., France, Italy, Spain, and Russia)
• Middle East & Africa (UAE, Saudi Arabia, Egypt, and South Africa)
• Asia Pacific (China, Japan, India, Australia, South Korea, and ASEAN)

Top players profiled- Access Companies, b. dazzle, inc., BOWWOWMEOW, Brain Noodles LLC, China Towins Gifts & Toys Co. Ltd., coliro Pearlcolors, Craftslane, eCraftIndia, eeBoo Corp, Ethnic Kraft, Himalaya Fine Art, Hygloss Products Inc., Joobli Studio, Jovi Corp., Nex Products Inc., Night Light Designs, Poloppo Inc., Sabmatt Corporation, Scratch-Art Co., Inc., and The Silver Moccasin.

1.     Global Craft Tools Market Introduction and Market Overview

1.1.  Objectives of the Study

1.2.  Craft Tools Market Definition & Description

1.3.  Global Craft Tools Market Scope and Market Estimation

1.3.1.     Global Craft Tools Overall Market Size, Revenue (US$ Mn), Market CAGR (%), Market forecast (2023-2033)

1.3.2.     Global Craft Tools Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2019-2033

1.4.  Market Segmentation

1.4.1.     Product Type of Global Craft Tools Market

1.4.2.     Distribution Channel of Global Craft Tools Market

1.4.3.     End User of Global Craft Tools Market

1.4.4.     Region of Global Craft Tools Market

 

2.     Executive Summary

2.1.  Global Craft Tools Market Industry Trends under COVID-19 Outbreak

2.1.1.     Global COVID-19 Status Overview

2.1.2.     Influence of COVID-19 Outbreak on Global Craft Tools Market Industry Development

2.2.  Market Dynamics

2.2.1.     Drivers

2.2.2.     Limitations

2.2.3.     Opportunities

2.2.4.     Impact Analysis of Drivers and Restraints

2.3.  Pricing Trends Analysis & Average Selling Prices (ASPs)

2.4.  Key Mergers & Acquisitions, Expansions, JVs, Funding / VCs, etc.

2.5.  Porter’s Five Forces Analysis

2.5.1.     Bargaining Power of Suppliers

2.5.2.     Bargaining Power of Buyers

2.5.3.     Threat of Substitutes

2.5.4.     Threat of New Entrants

2.5.5.     Competitive Rivalry

2.6.  Value Chain / Ecosystem Analysis

2.7.  PEST Analysis

2.8.  Russia-Ukraine War Impacts Analysis

2.9.  Economic Downturn Analysis

2.10. Market Investment Opportunity Analysis (Top Investment Pockets), By Segments & By Region

 

3.     Global Craft Tools Market Estimates & Historical Trend Analysis (2020 - 2022)

 

4.     Global Craft Tools Market Estimates & Forecast Trend Analysis, by Product Type

4.1.  Global Craft Tools Market Revenue (US$ Mn) Estimates and Forecasts, by Installation, 2023 to 2033

4.1.1.     Drawing & Painting Tools

4.1.2.     Cutting Tools

4.1.3.     Paper Crafts & Decorative Items

 

5.     Global Craft Tools Market Estimates & Forecast Trend Analysis, by Distribution Channel

5.1.  Global Craft Tools Market Revenue (US$ Mn) Estimates and Forecasts, by Installation, 2023 to 2033

5.1.1.     Convenience Stores

5.1.2.     Hypermarkets & Supermarkets

5.1.3.     Online Stores

5.1.4.     Specialty Stores

 

6.     Global Craft Tools Market Estimates & Forecast Trend Analysis, by End User

6.1.  Global Craft Tools Market Revenue (US$ Mn) Estimates and Forecasts, by Installation, 2023 to 2033

6.1.1.     Households

6.1.2.     Educational Institutes

6.1.3.     Offices

            

7.     Global Craft Tools Market Estimates & Forecast Trend Analysis, by Region

7.1.  Global Craft Tools Market Revenue (US$ Mn) Estimates and Forecasts, by Region, 2023 to 2033

7.1.1.     North America

7.1.2.     Europe

7.1.3.     Asia Pacific

7.1.4.     Middle East & Africa

7.1.5.     South America

 

8.     North America Craft Tools Market: Estimates & Forecast Trend Analysis

8.1.  North America Craft Tools Market Assessments & Key Findings

8.1.1.     North America Craft Tools Market Introduction

8.1.2.     North America Craft Tools Market Size Estimates and Forecast (US$ Million) (2023 to 2033)

8.1.2.1.  By Product Type

8.1.2.2.  By Distribution Channel

8.1.2.3.  By End User

8.1.2.4.  By Country

8.1.2.4.1.   The U.S.

8.1.2.4.2.   Canada

8.1.2.4.3.   Mexico

 

9.     Europe Craft Tools Market: Estimates & Forecast Trend Analysis

9.1.  Europe Craft Tools Market Assessments & Key Findings

9.1.1.     Europe Craft Tools Market Introduction

9.1.2.     Europe Craft Tools Market Size Estimates and Forecast (US$ Million) (2023 to 2033)

9.1.2.1.  By Product Type

9.1.2.2.  By Distribution Channel

9.1.2.3.  By End User

9.1.2.4.      By Country

9.1.2.4.1.   Germany

9.1.2.4.2.   U.K.

9.1.2.4.3.   France

9.1.2.4.4.   Italy

9.1.2.4.5.   Spain

9.1.2.4.6.   Russia

9.1.2.4.7.   Rest of Europe

 

10.  Asia Pacific Craft Tools Market: Estimates & Forecast Trend Analysis

10.1. Asia Pacific Market Assessments & Key Findings

10.1.1.  Asia Pacific Craft Tools Market Introduction

10.1.2.  Asia Pacific Craft Tools Market Size Estimates and Forecast (US$ Million) (2023 to 2033)

10.1.2.1.   By Product Type

10.1.2.2.   By Distribution Channel

10.1.2.3.   By End User

10.1.2.4.   By Country

10.1.2.4.1.            China

10.1.2.4.2.            Japan

10.1.2.4.3.            India

10.1.2.4.4.            Australia

10.1.2.4.5.            South Korea

10.1.2.4.6.            ASEAN

10.1.2.4.7.            Rest of Asia Pacific

 

11.  Middle East & Africa Craft Tools Market: Estimates & Forecast Trend Analysis

11.1. Middle East & Africa Market Assessments & Key Findings

11.1.1.  Middle East & Africa Craft Tools Market Introduction

11.1.2.  Middle East & Africa Craft Tools Market Size Estimates and Forecast (US$ Million) (2023 to 2033)

11.1.2.1.   By Product Type

11.1.2.2.   By Distribution Channel

11.1.2.3.   By End User

11.1.2.4.   By Country

11.1.2.4.1.              U.A.E.

11.1.2.4.2.              Saudi Arabia

11.1.2.4.3.              Egypt

11.1.2.4.4.              South Africa

11.1.2.4.5.              Rest of Middle East & Africa

 

12.  South America Craft Tools Market: Estimates & Forecast Trend Analysis

12.1. South America Market Assessments & Key Findings

12.1.1.  South America Craft Tools Market Introduction

12.1.2.  South America Craft Tools Market Size Estimates and Forecast (US$ Million) (2023 to 2033)

12.1.2.1.   By Product Type

12.1.2.2.   By Distribution Channel

12.1.2.3.   By End User

12.1.2.4.   By Country

12.1.2.4.1.            Brazil

12.1.2.4.2.            Argentina

12.1.2.4.3.            Colombia

12.1.2.4.4.            Rest of South America

 

13.  Competition Landscape

13.1. Global Craft Tools Market Competition Matrix & Benchmarking, by Leading Players / Innovators / Emerging Players / New Entrants

13.2. Global Craft Tools Market Concentration & Company Market Shares (%) Analysis, 2022

 

14.  Company Profiles

14.1.    Access Companies

14.1.1.     Company Overview & Key Stats

14.1.2.     Financial Performance & KPIs

14.1.3.     Product Portfolio

14.1.4.     Business Strategy & Recent Developments

* Similar details would be provided for all the players mentioned below 

14.2.    b. dazzle inc.

14.3.    BOWWOWMEOW

14.4.    Brain Noodles LLC

14.5.    China Towins Gifts & Toys Co. Ltd.

14.6.    coliro Pearlcolors

14.7.    Craftslane

14.8.    eCraftIndia

14.9.    eeBoo Corp

14.10.  Ethnic Kraft

14.11.  Himalaya Fine Art

14.12.  Hygloss Products Inc.

14.13.  Joobli Studio

14.14.  Jovi Corp.

14.15.  Nex Products Inc.

14.16.  Night Light Designs

14.17.  Poloppo Inc.

14.18.  Sabmatt Corporation

14.19.  Scratch-Art Co. Inc.

14.20.  The Silver Moccasin

14.21.  Others**

 

15.  Research Methodology

15.1. External Transportations / Databases

15.2. Internal Proprietary Database

15.3. Primary Research

15.4. Secondary Research

15.5. Assumptions

15.6. Limitations

15.7. Report FAQs

 

16.  Research Findings & Conclusion 

Quality Assurance Process

  1. We Market Research’s Quality Assurance program strives to deliver superior value to our clients.

We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.

Market Research Process




We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.

To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
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Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.


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