09-Oct-2020 | Syndicate Market Research
Global Arts and Crafts for Children Market Growing On The Back Of Rising Awareness Of The Advantages Associated With The Use Of Art And Crafts For Children In Learning Different Skills And The Penetration Of The E-Commerce Sales Channel
Arts and crafts involve diverse tasks, such as drawing with pencils, sculpture, thread painting, or producing stuff from all sorts of tools, requiring producing objects with one's own hands. It is simply a hobby, so kids love the arts and crafts. There are classes, workshops and seminars in schools and training centers where everyone can learn the skills of the arts and crafts.
As buyers generally look to do their home projects by their own, the arts and crafts market continues to take a positive trend. In general, customers seem to have a growing curiosity in craftsmanship. But the market has become far more competitive. The mainstream brick-and-mortar arts and crafts shops are competing from huge retailers like Wal-Mart and Target, and also online players like etsy.com. The increased competition has culminated in many companies raising advertising activity in order to drive sales. Although lower price points remain important for many customers, many retailers have increasingly concentrated on gross margin growth and have been more selective with the form and amount of discounts provided. For many suppliers, children’s crafts have powered profits. The goods are still popular with kids.
The worldwide demand for Arts and Crafts for Children market was estimated at around USD 13 billion in 2019, and by the end of 2026, existing and expected developments would hit valuations of around USD 19 billion. The industry players and analysts predict the global Arts and Crafts for Children market growth of around 5% in terms of CAGR. During the upcoming years, rising awareness of the advantages associated with the use of art and crafts for children in learning different skills and the penetration of the e-commerce sales channel is projected to raise demand for the Arts and Crafts for Children market. However, high price of arts and crafts for children and prevalence of large number of substitutes for arts and crafts for children are some of the challenges presented to Arts and Crafts for Children market development and growth.
Some of the leading and top Arts and Crafts for Children companies in the global Arts and Crafts for Children market include BEHR Process Corporation, Faber-Castell, Fiskars, Itsy Bitsy, Michaels Stores, Mundial, Ningbo, Paper Mate (Newell Office Brands), Parker, School Specialty, Pentel, Rainma Stationery, Pilot-Pen, PPG Architectural Finishes Inc., and Westcott (Acme United Corporation) among others. The leading five players such as Fiskars Group, Faber-Castell, Parker, Westcott, and Mundial hold around 25% market share of the global Arts and Crafts for Children market.
On the basis of product type, the worldwide Arts and Crafts for Children market can be segmented into Craft Tools, Drawing Pen, Paints and Stains, and Others, with the 'Craft Tools' category having the leading market share of about 40 percent, closely followed by the “Paints and Stains” category at about 30 percent of the worldwide Arts and Crafts for Children market share. In terms of applications, global Arts and Crafts for Children market can be segmented into Educational Use, Commercial Use, and Home Use. On the basis of sales channel, the market can be bifurcated into Online Sales and Offline Sales. In terms of geography, Asia Pacific region held the leading market share of around 35% among other regions such as North America, Europe, Latin America, and Middle East & Africa in the global Arts and Crafts for Children market.
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