The global art and craft material market is poised for significant growth, projected to increase from USD 23.1 billion in 2024 to USD 39.0 billion by 2034, achieving a compound annual growth rate (CAGR) of 5.4%. This growth is driven by rising demand for personalized products and a surge in arts and crafts activities across various demographics.
Key Takeaways
- The global art and craft material market is projected to grow from USD 23.1 billion in 2024 to USD 39.0 billion by 2034, with a CAGR of 5.4%.
- Product customization and partnerships with social media influencers present significant investment opportunities for manufacturers.
- Marking materials are the leading segment, with a CAGR of 5.2%, due to their essential role in various artistic activities.
- The educational institutions segment is expected to grow at a CAGR of 5.0%, driven by increased investment in art education.
- The U.S. market is projected to grow at 5.7%, fueled by a rising DIY culture and therapeutic engagement in arts.
- Sustainability trends are influencing growth in South Korea, where eco-friendly products are in high demand.
Regional Insights
- United States: CAGR of 5.7%, supported by a growing DIY culture and therapeutic engagement in arts.
- China: Leading with a CAGR of 6.1%, where educational activities in arts are booming.
- United Kingdom: Anticipated growth of 6.6%, spurred by innovative product offerings in a vibrant gig economy.
- Japan: Projected CAGR of 7.0%, capitalizing on traditional crafts like origami and painting.
- South Korea: Expected to grow at 6.9%, driven by a strong preference for sustainable and eco-friendly products.
Competitive Landscape
Several manufacturers of handmade art and craft materials are actively enhancing the consumer experience by adopting innovative marketing strategies. Stakeholders are focused on using these new tactics to better engage customers.
The geographical locations of various manufacturers and distributors significantly impact global market competitiveness. Participants in the industry are striving to improve their production capabilities to stay competitive.
Recent Development
- In 2022, Jack Richeson & Co. Inc., a renowned manufacturer of art materials in the United States, was acquired by DecoArt LLC, a leading USA-based manufacturer of art and craft paint, in partnership with MPE Partners, an American investment firm. This strategic acquisition is expected to bolster DecoArt's position in the art supplies market by expanding its product portfolio and market reach. Meanwhile, Jack Richeson & Co. Inc. will benefit from DecoArt's resources and expertise to accelerate its growth and expand its customer base.
- In 2021, Target Corporation, a retail corporation headquartered in Minnesota, launched a new art and craft brand, Mondo Llama. The brand offers over 400 different products, ranging from drawing kits to paint sets, canvases, scissors, and sharpeners. The brand aims to cater to the growing demand for art and craft supplies by providing high-quality and affordable products to its customers. With the launch of Mondo Llama, Target Corporation hopes to expand its product portfolio and attract more customers interested in exploring their creativity.
Key Companies Profiled
- Michaels
- Hobby Lobby
- Jo-Ann Stores
- Blick Art Materials
- A.C. Moore
- Amazon
- Walmart
- Etsy
- Art Supply Warehouse
- Utrecht Art Supplies
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Key Segments
By Type:
- Basic Materials
- Colored Pencils
- Crayons
- Others
- Marking Materials
- Watercolors
- Acrylic
- Oil Paints
- Others
By Application:
- Household
- Educational Institute
- Office
- Others
By Distribution Channel:
- Convenience Store
- Hypermarket/Supermarket
- Online Store
- Specialty Store
By Region:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa (MEA)
- Europe
