The Knitting Yarn Ball Retail Market Size was estimated at 16.54 (USD Billion) in 2022.The Knitting Yarn Ball Retail Industry is expected to grow from 17.18 (USD Billion) in 2023 to 24.19 (USD Billion) by 2032. The Knitting Yarn Ball Retail Market CAGR (growth rate) is expected to be around 3.87% during the forecast period (2024 - 2032).
Key Knitting Yarn Ball Retail Market Trends Highlighted
Knitting Yarn Ball Retail Market: The knitting yarn ball retail market is growing significantly owing to the fact that hobbies such as knitting and crocheting are on the increase. Some of these include the availability of unique handmade items and the increasing concern for the environment and natural materials. The increased use of e-commerce facilities has also facilitated the growth of the market by making a wide variety of fair isle yarns readily available to customers. Key market trends include rising levels of disposable income, increasing numbers of e-commerce shops, and market entry of new technologies for knitting or crocheting. There are also opportunities in the knitting and crochet market owing to the rise of social media, where knitters and crocheters post images of their work and others are inspired. Other recent market developments include the preference for using cotton, wool, and bamboo organic yarns by consumers who are becoming more environmentally oriented. Furthermore, the market is also seeing the development of new yarn types, such as self-striping yarns and gradient yarns which meet the eye as well as create an appealing design for the final project.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Knitting Yarn Ball Retail Market Drivers
Rising Popularity of DIY and Crafts
The growing popularity of do-it-yourself (DIY) projects and crafts has fueled the demand for knitting yarn balls. People are increasingly turning to craft as a way to express their creativity, reduce stress, and create unique items for their homes and wardrobes. Knitting, in particular, has experienced a resurgence in popularity, with many people finding it to be a relaxing and enjoyable hobby. As a result, the demand for knitting yarn balls, which are essential for knitting projects, has increased significantly.
Growth of E-commerce and Online Marketplaces
The growth of e-commerce and online marketplaces has made it easier for people to purchase knitting yarn balls. In the past, people had to go to a physical store to buy yarn, which could be inconvenient and time-consuming. However, with the advent of online retailers, people can now purchase yarn from the comfort of their own homes. This has made it more convenient for people to purchase yarn, which has contributed to the growth of the knitting yarn ball retail market.
Increasing Consumer Demand for Sustainable Products
Consumers are increasingly demanding sustainable products, and this trend is also impacting the knitting yarn ball retail market. Many consumers are looking for yarn that is made from natural and sustainable materials, such as organic cotton or bamboo. This is because consumers are becoming more aware of the environmental impact of their purchases, and they are looking for ways to reduce their carbon footprint.
Knitting Yarn Ball Retail Market Segment Insights
Knitting Yarn Ball Retail Market Fiber Type Insights
The Knitting Yarn Ball Retail Market is segmented based on Fiber Type into Cotton, Wool, Acrylic, and Blends. Cotton is a natural fiber that is soft, breathable, and absorbent. It is a popular choice for knitting yarn due to its comfort and versatility. The Cotton segment is expected to account for the largest share of the Knitting Yarn Ball Retail Market in 2023, and is projected to continue to grow at a steady pace over the forecast period. Wool is another natural fiber that is known for its warmth, durability, and elasticity. It is often used for knitting sweaters, scarves, and other winter accessories.The Wool segment is expected to account for a significant share of the Knitting Yarn Ball Retail Market in 2023 and is projected to grow at a moderate pace over the forecast period. Acrylic is a synthetic fiber that is soft, lightweight, and affordable. It is often used for knitting garments that are machine-washable and dryable. The Acrylic segment is expected to account for a moderate share of the Knitting Yarn Ball Retail Market in 2023 and is projected to grow at a steady pace over the forecast period. Blends are a combination of two or more different fiber types.They can be used to create yarns with unique properties, such as softness, durability, and absorbency. The Blends segment is expected to account for a growing share of the Knitting Yarn Ball Retail Market over the forecast period as consumers become more interested in sustainable and eco-friendly products.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Knitting Yarn Ball Retail Market Weight Insights
The Weight segment is a crucial factor in the Knitting Yarn Ball Retail Market, influencing consumer preferences and market growth. Sport weight yarn, characterized by its thinness and lightness, is often used for delicate garments like socks, gloves, and lacework. Its popularity stems from its versatility and affordability, making it a staple in many knitters' arsenals. DK weight yarn, slightly thicker than Sport weight, offers a broader range of applications, including sweaters, scarves, and baby blankets. Its soft texture and durability contribute to its widespread use.Worsted weight yarn, known for its medium thickness and versatility, is a go-to choice for sweaters, hats, and blankets. Its ability to create both structured and drapey fabrics makes it a popular option among knitters of varying skill levels. Bulky weight yarn, the thickest of the four, is ideal for quick and cozy projects like chunky scarves, blankets, and pillows. Its thick fibers and rapid knitting time appeal to those seeking instant gratification in their knitting endeavors. By understanding the preferences and applications associated with each weight category, manufacturers can effectively cater to the diverse needs of knitters, driving market growth and innovation.
Knitting Yarn Ball Retail Market Yarn Form Insights
Skein, ball, and cone are the three most common yarn forms used in the knitting yarn ball retail market. Among these, ball yarn accounts for the largest share of the market, owing to its ease of use and wide availability. In 2023, the ball yarn segment was valued at USD 6.78 billion, and it is expected to grow at a CAGR of 3.6% over the forecast period. Skein yarn is another popular form, particularly for hand-knitting projects. It is typically sold in hanks or skeins, and it offers a wider range of colors and textures compared to ball yarn. The skein yarn segment is expected to grow at a CAGR of 3.4% during the forecast period, reaching a value of USD 4.89 billion in 2032.Cone yarn, on the other hand, is primarily used for industrial knitting applications. It is sold in large cones or packages and is often used for weaving or knitting garments on a large scale. The cone yarn segment is expected to grow at a CAGR of 3.2% over the forecast period, reaching a value of USD 3.47 billion in 2032.
Knitting Yarn Ball Retail Market Yarn Texture Insights
The Knitting Yarn Ball Retail Market is segmented by yarn texture into smooth, textured, and novelty. Among these, the smooth texture segment held the largest market share in 2023, accounting for over 45% of the global revenue. The smooth texture segment is expected to continue to dominate the market over the forecast period, owing to its versatility and wide range of applications. Novelty, with around 35% share in 2023, is expected to grow at a faster CAGR of 4.5% during the forecast period. This growth can be attributed to the increasing popularity of unique and decorative yarns for creating eye-catching knitwear and accessories.Textured yarns, with a market share of around 20% in 2023, are also expected to witness steady growth, driven by the demand for yarns with added texture and depth.
Knitting Yarn Ball Retail Market Regional Insights
The Knitting Yarn Ball Retail Market is segmented into North America, Europe, APAC, South America, and MEA. The APAC region is the largest market for knitting yarn balls, accounting for over 40% of the global revenue in 2023. The region is expected to continue to grow at a CAGR of over 4% during the forecast period, driven by increasing disposable income and growing interest in knitting as a hobby. Europe is the second-largest market for knitting yarn balls, accounting for over 30% of the global revenue in 2023. The region is expected to grow at a CAGR of over 3% during the forecast period, driven by strong demand from Germany, France, and the United Kingdom.North America is the third-largest market for knitting yarn balls, accounting for over 20% of the global revenue in 2023. The region is expected to grow at a CAGR of over 2% during the forecast period, driven by the growing popularity of knitting among millennials and Gen Z consumers. South America and MEA are smaller markets for knitting yarn balls, but they are expected to grow at a faster pace than the global average during the forecast period, driven by increasing urbanization and rising disposable income.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Knitting Yarn Ball Retail Market Key Players And Competitive Insights
The Knitting Yarn Ball Retail Market industry is highly competitive, with a significant number of both established and emerging players. Leading Knitting Yarn Ball Retail Market players are actively engaged in product development, innovation, and marketing strategies to gain a competitive edge. Major players in the Knitting Yarn Ball Retail Market are investing heavily in research and development to create differentiated products and cater to the evolving needs of consumers. The market is characterized by a diverse range of products, including various yarn types, colors, and textures, to meet the preferences of a wide customer base. Leading Knitting Yarn Ball Retail Market players are expanding their distribution channels through both online and offline retail platforms to increase their reach and visibility. Strategic partnerships and collaborations are prevalent in the industry as players seek to leverage synergies and strengthen their market position. The competitive landscape is expected to remain dynamic due to the constant entry of new players and the ongoing efforts of established players to maintain their market share.Among the leading players in the Knitting Yarn Ball Retail Market, Lion Brand Yarn Company stands out as a prominent participant. The company has a long-standing presence in the industry and has established itself as a trusted brand among knitters and crocheters. Lion Brand Yarn Company offers a vast selection of high-quality knitting yarns, including both classic and innovative options. The company has a strong online presence and operates retail stores across the United States, providing customers with convenient access to its products. Lion Brand Yarn Company actively engages with its customers through social media and online communities, building a loyal following and fostering a sense of community among knitters and crocheters.In comparison, Red Heart Yarn, another notable competitor in the Knitting Yarn Ball Retail Market, has carved out a significant market share through its focus on affordability and accessibility. Red Heart Yarn offers a wide range of budget-friendly yarns in various colors and textures, making it a popular choice for beginners and value-conscious consumers. The company has a strong presence in mass-market retailers and craft stores, ensuring its products are easily available to a broad customer base. Red Heart Yarn places emphasis on providing clear and informative resources, including patterns and tutorials, to support knitters and crocheters in their creative endeavors. The company's commitment to inclusivity and affordability has contributed to its success in the competitive Knitting Yarn Ball Retail Market.
Key Companies in the Knitting Yarn Ball Retail Market Include
Knitting Yarn Ball Retail Market Industry Developments
The Knitting Yarn Ball Retail Market is projected to reach USD 24.19 billion by 2032, exhibiting a CAGR of 3.87% during the forecast period 2024-2032. The market growth is attributed to the rising popularity of knitting as a hobby and increasing consumer spending on home décor and fashion accessories.Recent news developments in the market include the launch of new yarn products by leading manufacturers such as Lion Brand Yarn and Red Heart Yarn. In addition, the growing trend of online yarn sales is expected to drive market growth in the coming years.
Knitting Yarn Ball Retail Market Segmentation Insights
Knitting Yarn Ball Retail Market Regional Outlook
| Report Attribute/Metric | Details |
| Market Size 2022 | 16.54 (USD Billion) |
| Market Size 2023 | 17.18 (USD Billion) |
| Market Size 2032 | 24.19 (USD Billion) |
| Compound Annual Growth Rate (CAGR) | 3.87% (2024 - 2032) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year | 2023 |
| Market Forecast Period | 2024 - 2032 |
| Historical Data | 2019 - 2023 |
| Market Forecast Units | USD Billion |
| Key Companies Profiled | Myak, Knit Picks, Lion Brand Yarn, Madelinetosh, Stitch Story, Malabrigo Yarn, King Cole Yarns, Cascade Yarns, Noro Yarns, HiKoo Yarn, Knitting Fever, Rowan |
| Segments Covered | Fiber Type, Weight, Yarn Form, Yarn Texture, Regional |
| Key Market Opportunities | Growing demand for personalized and tailored products Expanding ecommerce channels Increasing popularity of DIY and craft activities Rise of sustainable and eco-friendly yarn options Growing popularity of online handicraft communities |
| Key Market Dynamics | Increased demand for sustainable fibers Growing popularity of online marketplaces Rise of social media influencers Innovation in yarn technology Expanding application in home decor |
| Countries Covered | North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Knitting Yarn Ball Retail Market is expected to reach a valuation of USD 24.19 billion by the year 2032, expanding at a CAGR of 3.87% from 2024 to 2032.
North America and Europe are the dominant regions in the Knitting Yarn Ball Retail Market, collectively accounting for over 60% of the global market share. Asia-Pacific is anticipated to emerge as the fastest-growing regional market, driven by the rising disposable income and increasing demand for knitting yarn balls in countries like China and India.
Knitting Yarn Balls are primarily used for knitting and crocheting, which are popular crafts for making garments, accessories, and home décor items. These yarn balls come in various colors, textures, and weights, allowing crafters to create unique and personalized items.
Some of the prominent players in the Knitting Yarn Ball Retail Market include Lion Brand Yarn Company, Patons, Red Heart Yarn, Cascade Yarns, and Plymouth Yarn. These companies offer a wide range of knitting yarn balls to cater to the diverse needs of crafters worldwide.
The growing popularity of knitting and crocheting as hobbies and the increasing demand for eco-friendly and sustainable yarn products are key trends driving the growth of the Knitting Yarn Ball Retail Market. Additionally, the rise of e-commerce platforms has made it convenient for crafters to purchase knitting yarn balls from the comfort of their homes.
The Knitting Yarn Ball Retail Market faces challenges such as fluctuations in raw material prices, intense competition, and the emergence of counterfeit products. Additionally, the seasonality of the market, with higher demand during colder months, can impact sales and profitability for retailers.
Opportunities for growth in the Knitting Yarn Ball Retail Market lie in expanding into emerging markets, introducing innovative and eco-friendly products, and leveraging online platforms to reach a wider customer base. Collaborations between retailers and crafters can also create new opportunities for product development and marketing.
The growth of the Knitting Yarn Ball Retail Market in the Asia-Pacific region is primarily driven by rising disposable income, increasing urbanization, and growing interest in knitting and crocheting as hobbies. Additionally, the presence of a large textile industry in countries like China and India provides a strong foundation for the knitting yarn ball market in the region.
The COVID-19 pandemic led to temporary disruptions in the supply chain and retail operations of the Knitting Yarn Ball Retail Market. However, the increased time spent at home during lockdowns and social distancing measures resulted in a surge in demand for knitting and crocheting supplies, including yarn balls. Online sales channels played a crucial role in meeting this demand during the pandemic.
Technological advancements, such as the development of smart yarns and 3D printing technologies, are having a transformative impact on the Knitting Yarn Ball Retail Market. Smart yarns with embedded sensors allow for the creation of interactive textiles, while 3D printing enables the production of customized and intricate knitted structures. These advancements are opening up new possibilities for innovation and product development in the market.
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Team Lead - Research Anshula mandaokar holds an academic degree in chemical engineering and has been contributing to the field for more than 5 years. she has expertise in market research and business consulting and serves as a team lead for a reputed market research firm under the chemicals and materials domain spectrum. she has worked on multiple projects, generating explicit results in a quick turnaround time. her understanding of data interpretation justifies her role as a leader.
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