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:
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% |
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% |
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:
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.
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
Table 1: Global Market Value (US$ Million) Forecast by Region, 2019 to 2034
Table 2: Global Market Volume (Units) Forecast by Region, 2019 to 2034
Table 3: Global Market Value (US$ Million) Forecast by Product Type, 2019 to 2034
Table 4: Global Market Volume (Units) Forecast by Product Type, 2019 to 2034
Table 5: Global Market Value (US$ Million) Forecast by Material, 2019 to 2034
Table 6: Global Market Volume (Units) Forecast by Material, 2019 to 2034
Table 7: North America Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 8: North America Market Volume (Units) Forecast by Country, 2019 to 2034
Table 9: North America Market Value (US$ Million) Forecast by Product Type, 2019 to 2034
Table 10: North America Market Volume (Units) Forecast by Product Type, 2019 to 2034
Table 11: North America Market Value (US$ Million) Forecast by Material, 2019 to 2034
Table 12: North America Market Volume (Units) Forecast by Material, 2019 to 2034
Table 13: Latin America Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 14: Latin America Market Volume (Units) Forecast by Country, 2019 to 2034
Table 15: Latin America Market Value (US$ Million) Forecast by Product Type, 2019 to 2034
Table 16: Latin America Market Volume (Units) Forecast by Product Type, 2019 to 2034
Table 17: Latin America Market Value (US$ Million) Forecast by Material, 2019 to 2034
Table 18: Latin America Market Volume (Units) Forecast by Material, 2019 to 2034
Table 19: Western Europe Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 20: Western Europe Market Volume (Units) Forecast by Country, 2019 to 2034
Table 21: Western Europe Market Value (US$ Million) Forecast by Product Type, 2019 to 2034
Table 22: Western Europe Market Volume (Units) Forecast by Product Type, 2019 to 2034
Table 23: Western Europe Market Value (US$ Million) Forecast by Material, 2019 to 2034
Table 24: Western Europe Market Volume (Units) Forecast by Material, 2019 to 2034
Table 25: Eastern Europe Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 26: Eastern Europe Market Volume (Units) Forecast by Country, 2019 to 2034
Table 27: Eastern Europe Market Value (US$ Million) Forecast by Product Type, 2019 to 2034
Table 28: Eastern Europe Market Volume (Units) Forecast by Product Type, 2019 to 2034
Table 29: Eastern Europe Market Value (US$ Million) Forecast by Material, 2019 to 2034
Table 30: Eastern Europe Market Volume (Units) Forecast by Material, 2019 to 2034
Table 31: South Asia and Pacific Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 32: South Asia and Pacific Market Volume (Units) Forecast by Country, 2019 to 2034
Table 33: South Asia and Pacific Market Value (US$ Million) Forecast by Product Type, 2019 to 2034
Table 34: South Asia and Pacific Market Volume (Units) Forecast by Product Type, 2019 to 2034
Table 35: South Asia and Pacific Market Value (US$ Million) Forecast by Material, 2019 to 2034
Table 36: South Asia and Pacific Market Volume (Units) Forecast by Material, 2019 to 2034
Table 37: East Asia Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 38: East Asia Market Volume (Units) Forecast by Country, 2019 to 2034
Table 39: East Asia Market Value (US$ Million) Forecast by Product Type, 2019 to 2034
Table 40: East Asia Market Volume (Units) Forecast by Product Type, 2019 to 2034
Table 41: East Asia Market Value (US$ Million) Forecast by Material, 2019 to 2034
Table 42: East Asia Market Volume (Units) Forecast by Material, 2019 to 2034
Table 43: Middle East and Africa Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 44: Middle East and Africa Market Volume (Units) Forecast by Country, 2019 to 2034
Table 45: Middle East and Africa Market Value (US$ Million) Forecast by Product Type, 2019 to 2034
Table 46: Middle East and Africa Market Volume (Units) Forecast by Product Type, 2019 to 2034
Table 47: Middle East and Africa Market Value (US$ Million) Forecast by Material, 2019 to 2034
Table 48: Middle East and Africa Market Volume (Units) Forecast by Material, 2019 to 2034
Figure 1: Global Market Value (US$ Million) by Product Type, 2024 to 2034
Figure 2: Global Market Value (US$ Million) by Material, 2024 to 2034
Figure 3: Global Market Value (US$ Million) by Region, 2024 to 2034
Figure 4: Global Market Value (US$ Million) Analysis by Region, 2019 to 2034
Figure 5: Global Market Volume (Units) Analysis by Region, 2019 to 2034
Figure 6: Global Market Value Share (%) and BPS Analysis by Region, 2024 to 2034
Figure 7: Global Market Y-o-Y Growth (%) Projections by Region, 2024 to 2034
Figure 8: Global Market Value (US$ Million) Analysis by Product Type, 2019 to 2034
Figure 9: Global Market Volume (Units) Analysis by Product Type, 2019 to 2034
Figure 10: Global Market Value Share (%) and BPS Analysis by Product Type, 2024 to 2034
Figure 11: Global Market Y-o-Y Growth (%) Projections by Product Type, 2024 to 2034
Figure 12: Global Market Value (US$ Million) Analysis by Material, 2019 to 2034
Figure 13: Global Market Volume (Units) Analysis by Material, 2019 to 2034
Figure 14: Global Market Value Share (%) and BPS Analysis by Material, 2024 to 2034
Figure 15: Global Market Y-o-Y Growth (%) Projections by Material, 2024 to 2034
Figure 16: Global Market Attractiveness by Product Type, 2024 to 2034
Figure 17: Global Market Attractiveness by Material, 2024 to 2034
Figure 18: Global Market Attractiveness by Region, 2024 to 2034
Figure 19: North America Market Value (US$ Million) by Product Type, 2024 to 2034
Figure 20: North America Market Value (US$ Million) by Material, 2024 to 2034
Figure 21: North America Market Value (US$ Million) by Country, 2024 to 2034
Figure 22: North America Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 23: North America Market Volume (Units) Analysis by Country, 2019 to 2034
Figure 24: North America Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 25: North America Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 26: North America Market Value (US$ Million) Analysis by Product Type, 2019 to 2034
Figure 27: North America Market Volume (Units) Analysis by Product Type, 2019 to 2034
Figure 28: North America Market Value Share (%) and BPS Analysis by Product Type, 2024 to 2034
Figure 29: North America Market Y-o-Y Growth (%) Projections by Product Type, 2024 to 2034
Figure 30: North America Market Value (US$ Million) Analysis by Material, 2019 to 2034
Figure 31: North America Market Volume (Units) Analysis by Material, 2019 to 2034
Figure 32: North America Market Value Share (%) and BPS Analysis by Material, 2024 to 2034
Figure 33: North America Market Y-o-Y Growth (%) Projections by Material, 2024 to 2034
Figure 34: North America Market Attractiveness by Product Type, 2024 to 2034
Figure 35: North America Market Attractiveness by Material, 2024 to 2034
Figure 36: North America Market Attractiveness by Country, 2024 to 2034
Figure 37: Latin America Market Value (US$ Million) by Product Type, 2024 to 2034
Figure 38: Latin America Market Value (US$ Million) by Material, 2024 to 2034
Figure 39: Latin America Market Value (US$ Million) by Country, 2024 to 2034
Figure 40: Latin America Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 41: Latin America Market Volume (Units) Analysis by Country, 2019 to 2034
Figure 42: Latin America Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 43: Latin America Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 44: Latin America Market Value (US$ Million) Analysis by Product Type, 2019 to 2034
Figure 45: Latin America Market Volume (Units) Analysis by Product Type, 2019 to 2034
Figure 46: Latin America Market Value Share (%) and BPS Analysis by Product Type, 2024 to 2034
Figure 47: Latin America Market Y-o-Y Growth (%) Projections by Product Type, 2024 to 2034
Figure 48: Latin America Market Value (US$ Million) Analysis by Material, 2019 to 2034
Figure 49: Latin America Market Volume (Units) Analysis by Material, 2019 to 2034
Figure 50: Latin America Market Value Share (%) and BPS Analysis by Material, 2024 to 2034
Figure 51: Latin America Market Y-o-Y Growth (%) Projections by Material, 2024 to 2034
Figure 52: Latin America Market Attractiveness by Product Type, 2024 to 2034
Figure 53: Latin America Market Attractiveness by Material, 2024 to 2034
Figure 54: Latin America Market Attractiveness by Country, 2024 to 2034
Figure 55: Western Europe Market Value (US$ Million) by Product Type, 2024 to 2034
Figure 56: Western Europe Market Value (US$ Million) by Material, 2024 to 2034
Figure 57: Western Europe Market Value (US$ Million) by Country, 2024 to 2034
Figure 58: Western Europe Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 59: Western Europe Market Volume (Units) Analysis by Country, 2019 to 2034
Figure 60: Western Europe Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 61: Western Europe Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 62: Western Europe Market Value (US$ Million) Analysis by Product Type, 2019 to 2034
Figure 63: Western Europe Market Volume (Units) Analysis by Product Type, 2019 to 2034
Figure 64: Western Europe Market Value Share (%) and BPS Analysis by Product Type, 2024 to 2034
Figure 65: Western Europe Market Y-o-Y Growth (%) Projections by Product Type, 2024 to 2034
Figure 66: Western Europe Market Value (US$ Million) Analysis by Material, 2019 to 2034
Figure 67: Western Europe Market Volume (Units) Analysis by Material, 2019 to 2034
Figure 68: Western Europe Market Value Share (%) and BPS Analysis by Material, 2024 to 2034
Figure 69: Western Europe Market Y-o-Y Growth (%) Projections by Material, 2024 to 2034
Figure 70: Western Europe Market Attractiveness by Product Type, 2024 to 2034
Figure 71: Western Europe Market Attractiveness by Material, 2024 to 2034
Figure 72: Western Europe Market Attractiveness by Country, 2024 to 2034
Figure 73: Eastern Europe Market Value (US$ Million) by Product Type, 2024 to 2034
Figure 74: Eastern Europe Market Value (US$ Million) by Material, 2024 to 2034
Figure 75: Eastern Europe Market Value (US$ Million) by Country, 2024 to 2034
Figure 76: Eastern Europe Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 77: Eastern Europe Market Volume (Units) Analysis by Country, 2019 to 2034
Figure 78: Eastern Europe Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 79: Eastern Europe Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 80: Eastern Europe Market Value (US$ Million) Analysis by Product Type, 2019 to 2034
Figure 81: Eastern Europe Market Volume (Units) Analysis by Product Type, 2019 to 2034
Figure 82: Eastern Europe Market Value Share (%) and BPS Analysis by Product Type, 2024 to 2034
Figure 83: Eastern Europe Market Y-o-Y Growth (%) Projections by Product Type, 2024 to 2034
Figure 84: Eastern Europe Market Value (US$ Million) Analysis by Material, 2019 to 2034
Figure 85: Eastern Europe Market Volume (Units) Analysis by Material, 2019 to 2034
Figure 86: Eastern Europe Market Value Share (%) and BPS Analysis by Material, 2024 to 2034
Figure 87: Eastern Europe Market Y-o-Y Growth (%) Projections by Material, 2024 to 2034
Figure 88: Eastern Europe Market Attractiveness by Product Type, 2024 to 2034
Figure 89: Eastern Europe Market Attractiveness by Material, 2024 to 2034
Figure 90: Eastern Europe Market Attractiveness by Country, 2024 to 2034
Figure 91: South Asia and Pacific Market Value (US$ Million) by Product Type, 2024 to 2034
Figure 92: South Asia and Pacific Market Value (US$ Million) by Material, 2024 to 2034
Figure 93: South Asia and Pacific Market Value (US$ Million) by Country, 2024 to 2034
Figure 94: South Asia and Pacific Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 95: South Asia and Pacific Market Volume (Units) Analysis by Country, 2019 to 2034
Figure 96: South Asia and Pacific Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 97: South Asia and Pacific Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 98: South Asia and Pacific Market Value (US$ Million) Analysis by Product Type, 2019 to 2034
Figure 99: South Asia and Pacific Market Volume (Units) Analysis by Product Type, 2019 to 2034
Figure 100: South Asia and Pacific Market Value Share (%) and BPS Analysis by Product Type, 2024 to 2034
Figure 101: South Asia and Pacific Market Y-o-Y Growth (%) Projections by Product Type, 2024 to 2034
Figure 102: South Asia and Pacific Market Value (US$ Million) Analysis by Material, 2019 to 2034
Figure 103: South Asia and Pacific Market Volume (Units) Analysis by Material, 2019 to 2034
Figure 104: South Asia and Pacific Market Value Share (%) and BPS Analysis by Material, 2024 to 2034
Figure 105: South Asia and Pacific Market Y-o-Y Growth (%) Projections by Material, 2024 to 2034
Figure 106: South Asia and Pacific Market Attractiveness by Product Type, 2024 to 2034
Figure 107: South Asia and Pacific Market Attractiveness by Material, 2024 to 2034
Figure 108: South Asia and Pacific Market Attractiveness by Country, 2024 to 2034
Figure 109: East Asia Market Value (US$ Million) by Product Type, 2024 to 2034
Figure 110: East Asia Market Value (US$ Million) by Material, 2024 to 2034
Figure 111: East Asia Market Value (US$ Million) by Country, 2024 to 2034
Figure 112: East Asia Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 113: East Asia Market Volume (Units) Analysis by Country, 2019 to 2034
Figure 114: East Asia Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 115: East Asia Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 116: East Asia Market Value (US$ Million) Analysis by Product Type, 2019 to 2034
Figure 117: East Asia Market Volume (Units) Analysis by Product Type, 2019 to 2034
Figure 118: East Asia Market Value Share (%) and BPS Analysis by Product Type, 2024 to 2034
Figure 119: East Asia Market Y-o-Y Growth (%) Projections by Product Type, 2024 to 2034
Figure 120: East Asia Market Value (US$ Million) Analysis by Material, 2019 to 2034
Figure 121: East Asia Market Volume (Units) Analysis by Material, 2019 to 2034
Figure 122: East Asia Market Value Share (%) and BPS Analysis by Material, 2024 to 2034
Figure 123: East Asia Market Y-o-Y Growth (%) Projections by Material, 2024 to 2034
Figure 124: East Asia Market Attractiveness by Product Type, 2024 to 2034
Figure 125: East Asia Market Attractiveness by Material, 2024 to 2034
Figure 126: East Asia Market Attractiveness by Country, 2024 to 2034
Figure 127: Middle East and Africa Market Value (US$ Million) by Product Type, 2024 to 2034
Figure 128: Middle East and Africa Market Value (US$ Million) by Material, 2024 to 2034
Figure 129: Middle East and Africa Market Value (US$ Million) by Country, 2024 to 2034
Figure 130: Middle East and Africa Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 131: Middle East and Africa Market Volume (Units) Analysis by Country, 2019 to 2034
Figure 132: Middle East and Africa Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 133: Middle East and Africa Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 134: Middle East and Africa Market Value (US$ Million) Analysis by Product Type, 2019 to 2034
Figure 135: Middle East and Africa Market Volume (Units) Analysis by Product Type, 2019 to 2034
Figure 136: Middle East and Africa Market Value Share (%) and BPS Analysis by Product Type, 2024 to 2034
Figure 137: Middle East and Africa Market Y-o-Y Growth (%) Projections by Product Type, 2024 to 2034
Figure 138: Middle East and Africa Market Value (US$ Million) Analysis by Material, 2019 to 2034
Figure 139: Middle East and Africa Market Volume (Units) Analysis by Material, 2019 to 2034
Figure 140: Middle East and Africa Market Value Share (%) and BPS Analysis by Material, 2024 to 2034
Figure 141: Middle East and Africa Market Y-o-Y Growth (%) Projections by Material, 2024 to 2034
Figure 142: Middle East and Africa Market Attractiveness by Product Type, 2024 to 2034
Figure 143: Middle East and Africa Market Attractiveness by Material, 2024 to 2034
Figure 144: Middle East and Africa Market Attractiveness by Country, 2024 to 2034
The global handloom product market size is expected to be worth USD 8,190.1 million in 2024.
The market for handloom products is expected to reach USD 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%.
Explore Apparel & Fashion Insights
Thank you!
You will receive an email from our Business Development Manager. Please be sure to check your SPAM/JUNK folder too.