The handloom product market is projected to be valued at US$ 8,190.1 million in 2024 and is expected to rise to US$ 18,179.1 million by 2034. The global handloom product market is expected to evolve at a CAGR of 8.30% during the forecast period.
Key Market Drivers
The handloom product market generated an estimated revenue of US$ 6,237.1 million in 2019. In four years, the market grew at a pace of 5.40% and added a staggering revenue of US$ 953 million. Several reasons can be attributed to this growth:
| Attributes | Key Statistics |
|---|---|
| Expected Base Year Value (2024) | US$ 8,190.1 million |
| Anticipated Forecast Value (2034) | US$ 18,179.1 million |
| Estimated Growth (2024 to 2034) | 8.30% |
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The market for handloom products relies heavily on changing consumer preferences, such as a growing interest in sustainable and ethically produced goods. Various other factors, such as the economic condition and the financial situation of the people, also decide the fate of that market. Besides this, government policies also influence the market growth for handloom products.
The handloom product market has gone through a series of ups and downs in the past few years. During the pandemic, the world faced sudden shutdowns, and the market experienced an exponential plunge due to decreased consumer demand as people started spending less on non-essential commodities. The lockdown also meant reduced production capabilities coupled with disrupted supply chains.
Post-pandemic, the market began to pick some pace due to the increased digital adoption. The pandemic has already heightened the awareness about sustainability. This led to an increased demand for these garments in the international marketplace. With the opening of economies all around the world, the market started proliferating and has now reached a level of stability.
| Attributes | Key Statistics |
|---|---|
| Market Value (2019) | US$ 6,237.1 million |
| Market Value (2023) | US$ 7,697.4 million |
| Estimated Growth (2019 to 2023) | 5.40% |
Principal Consultant
The handloom product market is anticipated to surpass a global valuation of US$ 18,179.1 million by the year 2034, with a growth rate of 8.30%. While the market is expected to experience substantial growth, several restraining factors could adversely affect its development:
In the past few years, there has been a noticeable push toward sustainable products in the general population all over the world. In countries like India, Sri Lanka, Nepal, etc., where sarees are essential in women’s wardrobes, it is observed that there is a considerable demand for handwoven sarees. This demand can be attributed to the familiarity and long tradition of handmade sarees since the beginning of the time.
| Attributes | Details |
|---|---|
| Product Type | Sarees |
| Market Share | 35.20% |
Based on product type, sarees dominate the global market for handloom products with a whopping share of 35.20%. Due to social media and short video platforms, handmade sarees are also finding their place in the younger demographic. These individuals are drawn to the sustainability and long durability of sarees. Besides this, fashion designers and influencers are also playing a pivotal role in showcasing handloom sarees in diverse and innovative ways, thus contributing to the market's overall expansion.
Handloom products are generally popular in countries like India, China, and other ASEAN countries. These economies fall under the geographical belt, where the temperature is usually high throughout the year. Cotton clothes are best suited for this climatic condition as they allow breathability, softness, and comfort. Handloom products manufacturers have responded to this demand by curating products like sarees, shirts, and other wearables from cotton.
| Attributes | Details |
|---|---|
| Material Type | Cotton |
| Market share | 36.70% |
Based on material type, handloom products made from cotton dominate the global market with a remarkable share of 36.70%. The demand for cotton handloom products is also increasing in these areas due to their affordability and accessibility. Cotton is available everywhere in the world, making it a perfect choice for a diverse consumer base.
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The section analyzes the handloom product market by countries, including China, India, the United States, Germany, and Australia. The table presents the CAGR for each country, indicating the expected market growth in that country through 2034.
| Countries | CAGR |
|---|---|
| India | 11.10% |
| Australia | 9.50% |
| China | 8.40% |
| Germany | 7.60% |
| The United States | 5.90% |
India is one of the leading countries in this market. The India handloom product market is anticipated to retain its dominance by progressing at an annual growth rate of 11.10% till 2034.
Indians have been wearing handloom products since ancient times. This familiarity has driven a substantial demand for handloom products, especially sarees and dhotis, in the Indian general population. Besides this, cotton is available in abundance in the Deccan plateau region, enabling small-sized manufacturers to procure raw materials at an affordable cost. This cuts down the production cost, leaving a great scope for profits.
Australia is the leading market for handloom products outside Asia. Over the next ten years, Australia’s demand for handloom products is projected to rise at a 9.50% CAGR.
More than 90 percent of the population in Australia resides in the coastal areas. The climatic conditions in these areas constitute humid weather and warm currents. In such a scenario, people prefer handloom clothes that offer maximum breathability and comfort. This is the reason why handloom products, especially those made of cotton for leisure, are gaining more popularity in the Australian continent.
China is another Asian country in the market. Over the next ten years, the demand for handloom products in China is projected to rise at an 8.40% CAGR.
With the rising disposable incomes of the Chinese middle class, more consumers can afford luxury clothing items. This has a significant impact not just on the domestic market but also on the international marketplace. Moreover, Chinese consumers often look toward global fashion trends, and since sustainable clothing is an ongoing trend, the demand for handloom products is touching the skies in the country.
In the European region, Germany leads the market for handloom products. The market in Germany is poised to showcase a 7.60% advancement per year from 2024 to 2034.
Germany has a strong cultural appreciation for craftsmanship and high-quality products. Handloom products, with their intricate weaving techniques and unique designs, have gained tremendous traction in the German general population. Not only this, ethical consumerism, where consumers prioritize products that are produced under fair labor conditions, is also trending in Germany.
The United States handloom product market is anticipated to register a CAGR of 5.90% through 2034.
Influencers in the United States are the promoters of handloom products. These influencers, with millions of followers, are collaborating with manufacturers in and around the North American region.
The market for handloom products is filled with players like FabIndia, Khadi and Village Industries Commision, Mungo Design, Looms of Ladakh, etc. These players hold a significant part of the overall handloom product market valuation. Market players are inclined to invest in research and development to increase the affordability, sustainability, and accessibility of their products. There is a presence of smaller companies, too, in the market. These companies bring niche or specialized products to the market, catering to specific consumer needs or preferences.
Recent Developments
The global handloom product market size is expected to be worth US$ 8,190.1 million in 2024.
The market for handloom products is expected to reach US$ 18,179.1 million by 2034.
The market for handloom products is growing at 8.30% from 2024 to 2034.
FabIndia, Khadi and Village Industries Commision, Mungo Design, and Looms of Ladakh.
Cotton handloom products dominate the market, with an overall share of 36.70%.
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Product Life Cycle Analysis 3.5. Supply Chain Analysis 3.5.1. Supply Side Participants and their Roles 3.5.1.1. Producers 3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers) 3.5.1.3. Wholesalers and Distributors 3.5.2. Value Added and Value Created at Node in the Supply Chain 3.5.3. List of Raw Material Suppliers 3.5.4. List of Existing and Potential Buyer’s 3.6. Investment Feasibility Matrix 3.7. Value Chain Analysis 3.7.1. Profit Margin Analysis 3.7.2. Wholesalers and Distributors 3.7.3. Retailers 3.8. PESTLE and Porter’s Analysis 3.9. Regulatory Landscape 3.9.1. By Key Regions 3.9.2. By Key Countries 3.10. Regional Parent Market Outlook 3.11. Production and Consumption Statistics 3.12. Import and Export Statistics 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034 4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2019 to 2023 4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2024 to 2034 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Product Type 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Product Type, 2019 to 2023 5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Product Type, 2024 to 2034 5.3.1. Sarees 5.3.2. Apparel & Accessories 5.3.3. Bedding & Bath 5.3.4. Carpet, Mats, & Rugs 5.3.5. Others 5.4. Y-o-Y Growth Trend Analysis By Product Type, 2019 to 2023 5.5. Absolute $ Opportunity Analysis By Product Type, 2024 to 2034 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Material 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Material, 2019 to 2023 6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Material, 2024 to 2034 6.3.1. Cotton 6.3.2. Silk 6.3.3. Linen 6.3.4. Wool 6.4. Y-o-Y Growth Trend Analysis By Material, 2019 to 2023 6.5. Absolute $ Opportunity Analysis By Material, 2024 to 2034 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 7.1. Introduction 7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2019 to 2023 7.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2024 to 2034 7.3.1. North America 7.3.2. Latin America 7.3.3. Western Europe 7.3.4. Eastern Europe 7.3.5. South Asia and Pacific 7.3.6. East Asia 7.3.7. Middle East and Africa 7.4. Market Attractiveness Analysis By Region 8. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 8.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 8.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 8.2.1. By Country 8.2.1.1. USA 8.2.1.2. Canada 8.2.2. By Product Type 8.2.3. By Material 8.3. Market Attractiveness Analysis 8.3.1. By Country 8.3.2. By Product Type 8.3.3. By Material 8.4. Key Takeaways 9. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 9.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 9.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 9.2.1. By Country 9.2.1.1. Brazil 9.2.1.2. Mexico 9.2.1.3. Rest of Latin America 9.2.2. By Product Type 9.2.3. By Material 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Product Type 9.3.3. By Material 9.4. Key Takeaways 10. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 10.2.1. By Country 10.2.1.1. Germany 10.2.1.2. UK 10.2.1.3. France 10.2.1.4. Spain 10.2.1.5. Italy 10.2.1.6. Rest of Western Europe 10.2.2. By Product Type 10.2.3. By Material 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Product Type 10.3.3. By Material 10.4. Key Takeaways 11. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 11.2.1. By Country 11.2.1.1. Poland 11.2.1.2. Russia 11.2.1.3. Czech Republic 11.2.1.4. Romania 11.2.1.5. Rest of Eastern Europe 11.2.2. By Product Type 11.2.3. By Material 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Product Type 11.3.3. By Material 11.4. Key Takeaways 12. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 12.2.1. By Country 12.2.1.1. India 12.2.1.2. Bangladesh 12.2.1.3. Australia 12.2.1.4. New Zealand 12.2.1.5. Rest of South Asia and Pacific 12.2.2. By Product Type 12.2.3. By Material 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Product Type 12.3.3. By Material 12.4. Key Takeaways 13. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 13.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 13.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 13.2.1. By Country 13.2.1.1. China 13.2.1.2. Japan 13.2.1.3. South Korea 13.2.2. By Product Type 13.2.3. By Material 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Product Type 13.3.3. By Material 13.4. Key Takeaways 14. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 14.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 14.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 14.2.1. By Country 14.2.1.1. GCC Countries 14.2.1.2. South Africa 14.2.1.3. Israel 14.2.1.4. Rest of MEA 14.2.2. By Product Type 14.2.3. By Material 14.3. Market Attractiveness Analysis 14.3.1. By Country 14.3.2. By Product Type 14.3.3. By Material 14.4. Key Takeaways 15. Key Countries Market Analysis 15.1. USA 15.1.1. Pricing Analysis 15.1.2. Market Share Analysis, 2023 15.1.2.1. By Product Type 15.1.2.2. By Material 15.2. Canada 15.2.1. Pricing Analysis 15.2.2. Market Share Analysis, 2023 15.2.2.1. By Product Type 15.2.2.2. By Material 15.3. Brazil 15.3.1. Pricing Analysis 15.3.2. Market Share Analysis, 2023 15.3.2.1. By Product Type 15.3.2.2. By Material 15.4. Mexico 15.4.1. Pricing Analysis 15.4.2. Market Share Analysis, 2023 15.4.2.1. By Product Type 15.4.2.2. By Material 15.5. Germany 15.5.1. Pricing Analysis 15.5.2. Market Share Analysis, 2023 15.5.2.1. By Product Type 15.5.2.2. By Material 15.6. UK 15.6.1. Pricing Analysis 15.6.2. Market Share Analysis, 2023 15.6.2.1. By Product Type 15.6.2.2. By Material 15.7. France 15.7.1. Pricing Analysis 15.7.2. Market Share Analysis, 2023 15.7.2.1. By Product Type 15.7.2.2. By Material 15.8. Spain 15.8.1. Pricing Analysis 15.8.2. Market Share Analysis, 2023 15.8.2.1. By Product Type 15.8.2.2. By Material 15.9. Italy 15.9.1. Pricing Analysis 15.9.2. Market Share Analysis, 2023 15.9.2.1. By Product Type 15.9.2.2. By Material 15.10. Poland 15.10.1. Pricing Analysis 15.10.2. Market Share Analysis, 2023 15.10.2.1. By Product Type 15.10.2.2. By Material 15.11. Russia 15.11.1. Pricing Analysis 15.11.2. Market Share Analysis, 2023 15.11.2.1. By Product Type 15.11.2.2. By Material 15.12. Czech Republic 15.12.1. Pricing Analysis 15.12.2. Market Share Analysis, 2023 15.12.2.1. By Product Type 15.12.2.2. By Material 15.13. Romania 15.13.1. Pricing Analysis 15.13.2. Market Share Analysis, 2023 15.13.2.1. By Product Type 15.13.2.2. By Material 15.14. India 15.14.1. Pricing Analysis 15.14.2. Market Share Analysis, 2023 15.14.2.1. By Product Type 15.14.2.2. By Material 15.15. Bangladesh 15.15.1. Pricing Analysis 15.15.2. Market Share Analysis, 2023 15.15.2.1. By Product Type 15.15.2.2. By Material 15.16. Australia 15.16.1. Pricing Analysis 15.16.2. Market Share Analysis, 2023 15.16.2.1. By Product Type 15.16.2.2. By Material 15.17. New Zealand 15.17.1. Pricing Analysis 15.17.2. Market Share Analysis, 2023 15.17.2.1. By Product Type 15.17.2.2. By Material 15.18. China 15.18.1. Pricing Analysis 15.18.2. Market Share Analysis, 2023 15.18.2.1. By Product Type 15.18.2.2. By Material 15.19. Japan 15.19.1. Pricing Analysis 15.19.2. Market Share Analysis, 2023 15.19.2.1. By Product Type 15.19.2.2. By Material 15.20. South Korea 15.20.1. Pricing Analysis 15.20.2. Market Share Analysis, 2023 15.20.2.1. By Product Type 15.20.2.2. By Material 15.21. GCC Countries 15.21.1. Pricing Analysis 15.21.2. Market Share Analysis, 2023 15.21.2.1. By Product Type 15.21.2.2. By Material 15.22. South Africa 15.22.1. Pricing Analysis 15.22.2. Market Share Analysis, 2023 15.22.2.1. By Product Type 15.22.2.2. By Material 15.23. Israel 15.23.1. Pricing Analysis 15.23.2. Market Share Analysis, 2023 15.23.2.1. By Product Type 15.23.2.2. By Material 16. Market Structure Analysis 16.1. Competition Dashboard 16.2. Competition Benchmarking 16.3. Market Share Analysis of Top Players 16.3.1. By Regional 16.3.2. By Product Type 16.3.3. By Material 17. Competition Analysis 17.1. Competition Deep Dive 17.1.1. Maheshwari Handloom Works 17.1.1.1. Overview 17.1.1.2. Product Portfolio 17.1.1.3. Profitability by Market Segments 17.1.1.4. Sales Footprint 17.1.1.5. Strategy Overview 17.1.1.5.1. Marketing Strategy 17.1.1.5.2. Product Strategy 17.1.1.5.3. Channel Strategy 17.1.2. GoCoop 17.1.2.1. Overview 17.1.2.2. Product Portfolio 17.1.2.3. Profitability by Market Segments 17.1.2.4. Sales Footprint 17.1.2.5. Strategy Overview 17.1.2.5.1. Marketing Strategy 17.1.2.5.2. Product Strategy 17.1.2.5.3. Channel Strategy 17.1.3. Chandan Rugs 17.1.3.1. Overview 17.1.3.2. Product Portfolio 17.1.3.3. Profitability by Market Segments 17.1.3.4. Sales Footprint 17.1.3.5. Strategy Overview 17.1.3.5.1. Marketing Strategy 17.1.3.5.2. Product Strategy 17.1.3.5.3. Channel Strategy 17.1.4. Sri LaxmiNarasimha Handloom Sarees 17.1.4.1. Overview 17.1.4.2. Product Portfolio 17.1.4.3. Profitability by Market Segments 17.1.4.4. Sales Footprint 17.1.4.5. Strategy Overview 17.1.4.5.1. Marketing Strategy 17.1.4.5.2. Product Strategy 17.1.4.5.3. Channel Strategy 17.1.5. Manisha Silk Weaves 17.1.5.1. Overview 17.1.5.2. Product Portfolio 17.1.5.3. Profitability by Market Segments 17.1.5.4. Sales Footprint 17.1.5.5. Strategy Overview 17.1.5.5.1. Marketing Strategy 17.1.5.5.2. Product Strategy 17.1.5.5.3. Channel Strategy 17.1.6. Medusa Exim 17.1.6.1. Overview 17.1.6.2. Product Portfolio 17.1.6.3. Profitability by Market Segments 17.1.6.4. Sales Footprint 17.1.6.5. Strategy Overview 17.1.6.5.1. Marketing Strategy 17.1.6.5.2. Product Strategy 17.1.6.5.3. Channel Strategy 17.1.7. Dhananjay Creations 17.1.7.1. Overview 17.1.7.2. Product Portfolio 17.1.7.3. Profitability by Market Segments 17.1.7.4. Sales Footprint 17.1.7.5. Strategy Overview 17.1.7.5.1. Marketing Strategy 17.1.7.5.2. Product Strategy 17.1.7.5.3. Channel Strategy 17.1.8. Shree Jee 17.1.8.1. Overview 17.1.8.2. Product Portfolio 17.1.8.3. Profitability by Market Segments 17.1.8.4. Sales Footprint 17.1.8.5. Strategy Overview 17.1.8.5.1. Marketing Strategy 17.1.8.5.2. Product Strategy 17.1.8.5.3. Channel Strategy 17.1.9. Global Floor Furnishers 17.1.9.1. Overview 17.1.9.2. Product Portfolio 17.1.9.3. Profitability by Market Segments 17.1.9.4. Sales Footprint 17.1.9.5. Strategy Overview 17.1.9.5.1. Marketing Strategy 17.1.9.5.2. Product Strategy 17.1.9.5.3. Channel Strategy 17.1.10. Dream Home Carpets Pvt. Ltd. 17.1.10.1. Overview 17.1.10.2. Product Portfolio 17.1.10.3. Profitability by Market Segments 17.1.10.4. Sales Footprint 17.1.10.5. Strategy Overview 17.1.10.5.1. Marketing Strategy 17.1.10.5.2. Product Strategy 17.1.10.5.3. Channel Strategy 18. Assumptions & Acronyms Used 19. Research Methodology
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Handloom Product Market
