June 2024 | Report Format: Electronic (PDF)
Knitting Yarn Ball Retail Market Growth & Trends
The global knitting yarn ball retail market size is expected to reach USD 8,337.8 million by 2030, registering a CAGR of 4.8% from 2023 to 2030, according to a new report by Grand View Research, Inc. The growing interest of the young people in the knitting activity with yarn balls coupled with rising trend of displaying their art and new patterns on social media is bolstering the growth of market, globally. Social media influencers have also led people to adopt knitting to develop different clothing designs. This has further increased demand for the knitting yarn balls in around the globe.
The choice of distribution channel by the yarn ball retail customers depends on various factors for instance; the middle-aged or geriatric population prefers conventional stores over online purchases. The physical interaction of the customers with the sales personnel boosts their confidence, in terms of the product quality and pricing. However, in 2020, sales of the physical stores were affected owing to the lockdown restrictions across various economies to curb the spread of COVID-19.
Cotton fiber is majorly used for the knitting of tanks, tunics, tees, and pullovers owing to its breathable and absorbent properties. In addition, the softness and ability of drape offered by the cotton yarn ball make it ideal for producing formal wear. People also utilize cotton yarn balls for knitting soft toys as they have a higher ability to absorb water compared to other yarns. The aforementioned factors are expected to bolster the yarn balls demand for knitting summer clothes.
Wool is a natural protein fiber and does not face any competition from manmade fiber owing to its exceptional properties such as biodegradability and static resistance. Wool fiber has the ability to adapt any body temperature and it reacts in accordance with the same, which makes it an ideal fiber for knitting clothes across the regions with varied temperatures. Furthermore, the rising demand for sustainable products on account of growing public awareness regarding the heightening environmental concerns is expected to positively influence the demand for wool yarns balls.
The manufacturers have introduced new designs and patterns for the knitting with different qualities to cater to the demand from the customers of different age. Major players have introduced products that are good absorbent and have enhanced lifecycle. Ball yarn, Sullivan’s USA, Ganga Acrowools, Vardhman Group are some of the prominent players in the market. These players have wide-ranged product portfolios along with established distribution networks across the globe.
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Knitting Yarn Ball Retail Market Report
Knitting Yarn Ball Retail Market Report Highlights
- Physical stores segment is expected to dominate the industry in terms of value with market share of 81.5% in 2022. These stores provide a superior shopping experience as customers can interact and test the knitted yarn balls as per their customized requirements for the specific applications. In addition, physical interaction with storeowners helps customers build trust and long-term relationships, which allows them to make repeated purchases from the same place for their future requirements
- Online channels segment accounted for the volume of 103.9 Million Units in 2022 and is expected to witness growth at the highest CAGR of 5.3% during the forecast period. Several new-age buyers prefer online channels for their purchases as they offer various benefits such as discounts, online payment, and home delivery. In addition, online platforms offer a wide range of shopping options in a single place, which heightens shopping convenience
- Cotton material segment is expected to expand at a CAGR of 4.4% in terms of volume during the forecast period as it is durable, strong, and resistant to abrasion. In addition, cotton fiber is considered to be less expensive compared to other fibers. The process of making yarn balls from cotton includes twisting and spinning raw cotton, which imparts the required strength to the yarn
- Merino wool is considered softer and more fine compared to standard wool. It offers anti-static properties coupled with the ability to absorb moisture as well as odor molecules of sweat, which makes it an ideal fiber solution for knitting sweaters for children and people who tend to spend major time in sun. Furthermore, merino wool is lightweight and the clothing manufactured using this material is much preferred for sensitive skin than regular wool owing to its softness
- The market in the Central & South America is expected to exhibit the highest growth in terms of market revenue on accountincreasing interest of the people in knitting. The knitters in the region keep on encouraging people to adopt knitting by sharing their techniques and work. It has kept the knitting culture alive in Central & South America. This, in turn, is expected to positively impact demand for the knitting yarn balls in the region during the coming years
- Key global players in the global market are raw material suppliers, manufacturers, distributers and channel partners along with end users dealing with a variety of yarn balls. Market players are engaged in the procurement and distribution of the quality yarn balls made of cotton, wool, silk, nylon, and polyester, which are essential elements for the yarn ball production. Market players majorly focus on the production of quality that caters to various customers including all age groups
Knitting Yarn Ball Retail Market Segmentation
Grand View Research has segmented the global knitting yarn ball retail market based on the channel type, material, and region:
Knitting Yarn Ball Retail Channel Type Outlook (Volume, Million Units; Revenue, USD Million; 2018–2030)
- Physical Stores
- Online Channels
Knitting Yarn Ball Retail Material Type Outlook (Volume, Million Units; Revenue, USD Million; 2018–2030)
- Cotton
- Wool
- Merino Wool
- Alpaca
- Cashmere
- Silk
- Others
Knitting Yarn Ball Retail Regional Outlook (Volume, Million Units; Revenue, USD Million; 2018–2030)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Spain
- Netherlands
- Russia
- Iceland
- Scandinavia
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- New Zealand
- Central & South America
List of Key Players in Knitting Yarn Ball Retail Market
- Ball yarn
- Sullivan’s USA
- Ganga Acrowools
- Vardhman Group
- Gomitolatura Albatros di Chen Xiaoqun
- Gedifra
- Hobbii
- The Yarnery
- King Cole
- Rowan
