The global Handloom Product Market is projected to reach a value of USD 8,190.1 million in 2024, up from USD 7,697.4 million in 2023. The market is expected to grow at a CAGR of 8.30% during the forecast period, with an anticipated market size of USD 18,179.1 million by 2034.
Post-pandemic, there has been a significant shift toward sustainable products, particularly in the clothing and garment sector. Consumers worldwide are increasingly prioritizing products that not only enhance their aesthetic appeal but also minimize environmental impact. Handloom products are a perfect fit for this growing demand. In countries like India, Sri Lanka, and Australia, the importance of handloom textiles has surged, with these products becoming a symbol of sustainability and cultural heritage.
The rising demand for handloom products is also driven by the favorable climatic conditions in regions such as Asia and Australia. Typically crafted from cotton, handloom textiles are known for their breathability, comfort, and affordability, making them ideal for warmer climates. Additionally, these regions have a long history of wearing handloom garments, and this cultural familiarity has further fueled the market’s growth in recent decades.
Government support in countries like India and China to promote indigenous, small-scale enterprises has played a key role in driving the growth of the handloom product market. Additionally, the rise of ethical consumerism, where shoppers prioritize products made under fair labor conditions, has contributed significantly to the market’s expansion. Handloom products, which are often crafted using traditional methods and adhere to ethical production standards, appeal to consumers who value transparency and responsible sourcing. This trend is further accelerating demand, as more people seek products that align with their values of sustainability and fairness.
Key Takeaways from the Market Study
Handwoven sarees dominate the global handloom product market with a 35.20% share in 2024.
Cotton products in the handloom product market accounted for 36.70% of the share in 2024.
The handloom product market in India is predicted to develop a remarkable CAGR of 11.10% through 2034.
The handloom product market in China is predicted to rise at a whopping 8.40% CAGR through 2034.
The handloom product market in the United States has the potential to increase at 5.90% CAGR through 2034.
The Australian handloom product market is predicted to rise by 9.50% CAGR through 2034.
The handloom product market in Germany is predicted to evolve at a CAGR of 7.60% through 2034.
Competitive Landscape
The handloom product market is home to prominent players such as FabIndia, Khadi and Village Industries Commission, Mungo Design, and Looms of Ladakh, who together account for a substantial share of the market’s overall valuation. These established brands are increasingly investing in research and development to enhance the affordability, sustainability, and accessibility of their offerings. In addition to these major players, the market also sees a growing presence of smaller companies that bring niche or specialized products to cater to specific consumer needs and preferences. These smaller businesses often focus on unique or artisanal handloom items, further enriching the market landscape.
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)
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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
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