Macrame Products Market: Introduction
- Macrame products are made by knotting techniques. It is a method of crafting a textile. These products can be simply made by hands. Customers can make beautiful designs by making several knots in a direction and following a pattern.
Key Drivers of the Global Macrame Products Market
- The outbreak of Covid-19 has encouraged a lot of people to indulge in ‘Do You Own’ creative activities such as making macrame products at home. This will increase demand and create opportunities for macrame products in the market.
- Demand for macrame products among people with low-income and the rural population is increasing. Their participation in macramé product manufacturing is also increasing.
Increase in demand for macrame products used as accessories and home decor to create market opportunities
- Earrings, bracelets, necklaces, and other accessories are also made by macrame techniques. They have high demand because they look elegant when worn. This is a market opportunity for accessories related macrame products.
- Macrame products such as pot hangers, wall hangings, table covers, and many other products are used for home decoration purposes and preference for these products is expected to drive the demand for macrame products.
Loose and weak products can be a restraint of the macrame products market
- Some macrame products are not made with proper techniques of knotting the threads properly with each other. Macrame products which are are loosely tied or knots which are loose do not stay long and this can restrain the market.
Asia Pacific and Europe Projected to be Potential Markets for Macrame Products
- Many developing countries such as India, China, and Bangladesh are focusing on textile production by manufacturing macrame products. Such products also see high demand currently because they are eco-friendly and look beautiful as home decor.
- European countries such as the United Kingdom, Italy, and Spain have huge interest in macrame products. They tend to patronize accessories made through macrame techniques. Demand for macrame products is rising amongst the millennial population mainly because of focus on trends and fashion.
Players Operating in the Global Macrame Products Market
There are many small and medium size players present in the macrame market. Organizations also manufacture versatile range of products to cater to the needs of customers who are interested in macrame products. Many manufacturing companies are aiming to produce a new range of macrame products to acquire larger market share.
Some of the key companies active in the macrame market are listed below:
- The Spruce Crafts (Dotdash)
- Modern Macramé
- Home Decor Inc.
- Radhika Handicrafts
- JUNE RETAIL PVT. LTD
- MDF ART INDIA
- Refratex India Private Limited.
Macrame Products Market, by Price
- Low (US$ 15 and below)
- Medium (US$ 16 – US$ 50)
- High (US$ 51 and above)
Macrame Products Market, by Products
- Table Cloth
- Wall Mirrors
- Plant or Pot Hangings
- Others (Bags, Bracelets, Mats, etc.)
Macrame Products Market, by Material
- Others (leather, nylon, rayon, etc.)
Macrame Products Market, by Users
Macrame Products Market, by Distribution Channel
- Third Party Website
- Company Owned Website
- Specialty Stores
- Hypermarkets and Supermarkets
Macrame Products Market, by Region
- North America
- Rest of North America
- Western Europe
- Nordic countries
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific
- New Zealand
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- North Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America
The report on the macrame products market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on market segments and regions.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.