Handloom Product Market

Handloom Product Market Outlook

The handloom product market is projected to be valued at USD 8,190.1 million in 2024 and is expected to rise to USD 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 USD 6,237.1 million in 2019. In four years, the market grew at a pace of 5.40% and added a staggering revenue of USD 953 million. Several reasons can be attributed to this growth:

• The desire for unique and personalized products and the customization options offered by handwoven textiles in terms of colors, patterns, and designs
• Improved access to global markets, facilitated by e-commerce platforms and international trade agreements in the developing and underdeveloped countries
• Rising demand for sustainable and ethical products crafted using traditional methods and natural fibers in the general population all over the world
• Heightened appreciation for the cultural heritage and authenticity associated with handloom products in countries like China, India, and African countries
• Increased incorporation of handwoven textiles into the collections of brands and designers to cater to the demands of eco-conscious consumers
• Government initiatives and support in promoting handloom industries by providing subsidies, tax rebates, training institutes, etc.
• Incorporating handloom products by corporates into their CSR initiatives, emphasizing the support of local artisans and sustainable practices

Attributes	Key Statistics
Expected Base Year Value (2024)	USD 8,190.1 million
Anticipated Forecast Value (2034)	USD 18,179.1 million
Estimated Growth (2024 to 2034)	8.30%

Consumption Analysis of the Handloom Product Market

• Individuals with a keen interest in cultural heritage and traditional craftsmanship form one of the leading consumer groups in the handloom product market.
• Fashion-forward consumers also contribute significantly to the handloom product market. These individuals are drawn to the exclusivity, intricate designs, and customization options handwoven textiles offer.
• Eco-conscious and nature-loving consumers committed to sustainable and eco-friendly lifestyles choose handloom products. They see handloom products as a perfect way to support environmentally responsible practices.
• Interior designers and home décor enthusiasts also consume a substantial amount of handloom products. They use home textiles like rugs, cushions, and curtains to create distinctive living spaces.
• In countries like India, handloom products, especially intricately woven saris and garments, are famous for weddings and special occasions. Both male and female consumers contribute to the demand for handloom products in the bridal and festive wear segment.

Historical Analysis of the Handloom Product Market

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)	USD 6,237.1 million
Market Value (2023)	USD 7,697.4 million
Estimated Growth (2019 to 2023)	5.40%

Restraining Factors Adversely Affecting the Handloom Product Market

The handloom product market is anticipated to surpass a global valuation of USD 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:

• Competition from mass-produced textiles and clothing is one of the key challenges in the market for handloom products. People prefer mass-produced textiles as they are inexpensive, readily available, and versatile.
• The industry still relies on manual craftsmanship, and the production process often has limited technological integration. This limits the production capabilities of the manufacturing units, thus hampering the market.
• The handloom industry also requires skilled workers who possess knowledge of traditional weaving techniques. Younger generations have little to no interest in the handloom industry, potentially affecting the industry's capacity to meet future demand.
• Handloom manufacturers are usually small-scale enterprises situated in semi-urban and rural areas. These companies fail to generate enough revenue to invest in marketing and advertisements. This limits the visibility and awareness regarding the products.

Category-wise Insights

Consumer Demand for Handloom Sarees Touches the Skies Worldwide

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.

Cotton Handloom Products Gains Popularity Among Consumers Worldwide

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.

Country-wise Insights

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%

Handloom Product Market in India

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.

Handloom Product Market in Australia

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.

Handloom Product Market in China

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.

Handloom Product Market in Germany

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.

Handloom Product Market in the United States

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.

Competitive Landscape

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

• Recently, FabIndia, a leading player in the handloom product market, introduced its latest collection, ‘Svarnim,’ showcasing the rich cultural diversity of India.Top of Form
• In 2023, the Khadi and Village Industries Commission (KVIC) unveiled a redesigned Khadi India store at the Indian Institute of Technology (IIT) Campus in Delhi, intending to promote handloom products in the national capital.

Key Companies in the Market

• FabIndia (India)
• Khadi & Village Industries Commission (KVIC) (India)
• Handloom House (Bangladesh)
• Apolis (United States)
• Neeru's (India)
• Anokhi (India)
• Tantuja (India)
• Mungo Design (South Africa)
• Looms of Ladakh (India)
• Ikat Story (India)
• Loom & Last (United Kingdom)
• Le Souk (Tunisia)
• Handloom Weaving (Sri Lanka)
• Jugmug Thela (India)
• Bhane (India)

Key Market Segmentation

By Product Type:

• Sarees
• Apparel & Accessories
• Bedding & Bath
• Carpet, Mats, & Rugs
• Others

By Material:

• Cotton
• Silk
• Linen
• Wool

By Region:

• North America
• Latin America
• Europe
• Asia Pacific
• The Middle East and Africa

Frequently Asked Questions

How Much is the Handloom Product Market Currently Worth?

The global handloom product market size is expected to be worth USD 8,190.1 million in 2024.

What is the Sales Forecast for Handloom Product Through 2034?

The market for handloom products is expected to reach USD 18,179.1 million by 2034.

At What Rate Is the Handloom Product Market Growing Across the World?

The market for handloom products is growing at 8.30% from 2024 to 2034.

Who are the Key Manufacturing Companies in the Market?

FabIndia, Khadi and Village Industries Commision, Mungo Design, and Looms of Ladakh.

Which is the Preferred Material Type in the Handloom Product Market?

Cotton handloom products dominate the market, with an overall share of 36.70%.