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
- 2024-09-27
- NO OF PAGES
- 276
- CATEGORY
- Retails & Consumer
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
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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).
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Conclusion
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