If you spend any amount of time on Facebook or TikTok, you've likely seen viral videos of woodworking tips, DIY home projects, and all kinds of strange and exciting hobbies.
Time spent cooped up at home has bolstered the craft market as both kids and adults look for creative outlets and new hobbies.
US Amazon searches for “crafts for adults” are up 83% over the last 90 days, according to JungleScout.
The global market for handicrafts was ~$647B in 2020 and is expected to grow to ~$1.2T by 2026 (an ~11% CAGR)!
So how do you get into this market? and make money in the process?
1. Focus on beginners
People take up new hobbies everyday. If you focus on addressing the simple craft market, you stand a chance to make some serious gains.
Examples of US Amazon search volumes:
Amazon is a great place for you to focus your efforts. For example, these 1 inch Wooden Round Balls generate more than $1.4m per month on Amazon and this yarn company brings in $730K per month according to JungleScout.
If you're interested in this market, you could sell D2C or create a subscription business offering complete craft kits for kids.
2 . Focus on the online segment of the market.
US ecommerce sales of hobby and crafting supplies hit a record $15B+ in 2021.
Traditionally, the crafting market was dominated by large brick and mortar stores like Michael's and Hobby Lobby. The incumbents are struggling to retain market share as DIY pivots to ecommerce. You could take advantage of this transition by niching down and focusing on SEO.
Handicrafts are hugely popular on social media generating millions of views on TikTok and Facebook alike. Be sure to consider partnerships with influencers and don't be afraid to get a little crafty yourself.