GVR Report cover Knitting Yarn Ball Retail Market Size, Share & Trends Report

Knitting Yarn Ball Retail Market Size, Share & Trends Analysis Report By Channel Type (Physical Stores, Online Channels), By Material (Cotton, Wool, Silk), By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-4-68040-052-5
  • Number of Pages: 68
  • Format: Electronic (PDF)

Market Size & Trends

The global knitting yarn ball retail market size was estimated at USD 5,717.3 million in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 4.8% from 2023 to 2030. The growing interest of the young people in the knitting activity coupled with rising trend of the displaying their art and new patterns on social media is bolstering the market growth. Cotton fiber is one of the major materials used for the manufacturing yarn balls designed for the knitting of tanks, tunics, tees, and pullovers owing to its high 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 which is expected to further propel the market growth.

U.S. knitting yarn ball retail market size and growth rate, 2023 - 2030

The U.S. knitting yarn ball retail market was valued at USD 1,257.2 million in 2022 and is estimated to expand at a CAGR of 4.0% during the forecast period. The consumption of winter wear such as sweaters, gloves, scarves, and socks is very high in the U.S. owing to extreme winter conditions in the country. According to the Craft Yarn Council, approximately 38.0 million people of U.S. knit yarn balls for creating blankets and clothes such as sweaters and cardigans. This leads to increased demand for the yarn balls to knit comfortable and soft winter wear in the country.

The Knit for Peace, a group of more than 15,000 knitters in the U.K., suggests that knitting offers certain mental health benefits. It is helpful to the patients dealing with symptoms of stress, depression, and anxiety. According to Wool and the Gang (WATG), knitting with yarn balls helped approximately 40.0% of knitters fight depression while approximately 90.0% of them stated that knitting helped them in decreasing their anxiety levels. Thus, these mental health benefits have attracted a large number of people to adopt knitting, thereby surging the demand for yarn balls.

Several players are engaged in the manufacture and distribution of a variety of products including cotton, wool, and silk yarn balls in retail market. The presence of various knitting groups has resulted in the development of yarn balls that work through offline and online channels, which cater to various target customers. Knitting Happiness, Wooly knit, The Yarnery, and Ball & Skein supplies different types of yarn ball that can be used for a wide variety of knitting applications. These companies also offer varied materials of yarn balls such as cotton, merino wool, cashmere wool, alpaca wool, silk, polyester, and nylon.

Channel Type Insights

Physical stores segment led the market and accounted for more than 81.5% share of the global revenue in 2022. The segment is expected to expand at a CAGR of 4.5% in terms of revenue during the forecast period owing to the low penetration of online distribution channels in underdeveloped economies. In addition, longer delivery timelines required for the online platforms in several locations across various countries resulting in high sales of knitting yarn balls through physical stores.

The selection of distribution channels by the 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 product quality and pricing. However, in 2020, the sales of physical stores were affected owing to the lockdown restrictions across various economies to curb the spread of COVID-19.

Online channels segment accounted for the volume of 103.9 million units in 2022 and is expected to witness expansion 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. Furthermore, they allow easy product price comparisons. These factors are expected to lead to an exponential rise in product sales through online channels. Some of the online stores offering knitting yarn balls include Woolyknit.com, KNITTING FOR OLIVE, Amazon, Vardhman Spinning & General Mills, and Flip kart.

Material Insights

Cotton segment led the market and accounted for more than 50.3% share of the global volume in 2022 owing to its breathable and absorbent properties. 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 balls. Cotton yarns are considered to have a higher ability to absorb water compared to other yarns. The aforementioned factors are expected to bolster the yarn ball demand for knitting summer clothes.

Wool material segment accounted for revenue of USD 3,179.4 million in 2022 and is expected to expand at a highest CAGR of 5.4% in terms of revenue during the forecast period. 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 to 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.

Global knitting yarn ball retail market share and size, 2022

Merino wool is one of the types of woolen yarn ball which is considered to be softer and finer compared to the 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.

Silk is the most luxurious and coveted fiber owing to its various properties such as breathable, hypoallergenic, and drape ability. It is a protein fiber and is majorly known for its strength, shine, and softness. Silk yarn ball is produced via a twisted machine, which results in a high-strength yarn and prevents the split of threads. The above-mentioned characteristics of silk make it a highly preferred fiber for the luxurious and top-of-the-line products. Furthermore, the silk fiber is widely employed in fashion industry for the production of clothes, bed linens, and home furnishings.

Regional Insights

The market in North America was valued at USD 1,912.0 million in 2022 and is estimated to expand at a CAGR of 4.1% in terms of revenue during the forecast period. The U.S. accounted for the major share of the market in North America in 2022 owing to the presence of various organizations and groups who are involved in knitting for the donation and charity purposes. The knitting activity is also becoming popular in the region owing to the rising interest of young and middle-aged people in art and craft.

Social media and influencers have also led people to adopt knitting to develop different clothing designs. This has further increased demand for the knitting yarn balls in North America. The region also has a long and ancient history of knitting wherein it was a source of income, especially for women. Additionally, in the early times, women in North America used to knit clothes for their families as a pastime activity, and this tradition was passed down from generation to generation. This has kept the demand for yarn balls in the region significant during the years.

Knitting Yarn Ball Retail Market Trends, by Region, 2023 - 2030

Europe valued at the revenue of USD 2,182.7 million in 2022 and is anticipated to develop at a CAGR of 5.4% in terms of revenue during the period of 2023-2030. The region is filled with the countries having presence of rich knitting culture owing to which, major population is involved in knitting. Additionally, the low temperature faced by many countries in Europe has also increased demand for the woolen wears, thus, positively affecting demand for the knitting yarn balls in the region.

Several fests related to knitting also take place in the region. Furthermore, owing to the rising interest of younger population in knitting has resulted in establishment of cafes, which provide the environment in which people can knit in groups and can share their methods and patterns. This has further influenced people to knit which is expected to result in growth of the knitting yarn ball retail market in the region.

Key Companies & Market Share Insights

Key global players in the global market are raw material suppliers, manufacturers, distributers and channel partners plus end users dealing with a variety of yarn balls. Market players are engaged in the procurement and distribution of quality raw materials such as cotton, merino wool, alpaca, cashmere, and silk. Market players majorly focus on the production of quality products that caters to various customers including old-aged people and younger generation.

A number of startups have been established in the world that offers classes to teach knitting techniques. For instance, The Dutch Knitters is a Netherlands-based company, which has influenced knitters to convert their hobby into a career. Thus, the presence of various companies and organizations offering knitting training in the country is anticipated to surge demand for the knitting yarn balls around the globe in the coming years. Some of the prominent players in global knitting yarn ball retail market include:

  • Ball yarn

  • Sullivan’s USA

  • Ganga Acrowools

  • Vardhman Group

  • Gomitolatura Albatros di Chen Xiaoqun

  • Gedifra

  • Hobbii

  • The Yarnery

  • King Cole

  • Rowan

Knitting Yarn Ball Retail Market Report Scope

Report Attribute

Details

Market size value in 2023

USD 5,950.7 million

Revenue forecast in 2030

USD 8,337.8 million

Growth Rate

CAGR of 4.8% from 2023 to 2030

Base year for estimation

2022

Actual estimates/Historical data

2018 - 2021

Forecast period

2023 - 2030

Quantitative units

Volume in kilotons, revenue in USD million,  CAGR from 2023 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors,  trends

Regional Scope

North America; Europe; Asia Pacific; Central & South America;  Rest of the World

Country scope

U.S.; Canada; Mexico; Germany; France; U.K.; Spain; Netherlands; Russia; Iceland; Scandinavia; China; India; Japan; South Korea; Australia; New Zealand

Segments covered

Channel type, material

Key companies profiled

Ball yarn; Sullivan’s USA; Ganga Acrowools; Vardhman Group; Gomitolatura Albatros di Chen Xiaoqun; Gedifra; Hobbii; The Yarnery; King Cole; Rowan

Customization scope

Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

 

Global Knitting Yarn Ball Retail Market Report Segmentation

This report forecasts revenue growth at global, regional & country levels and provides an analysis on the latest industry trends and opportunities in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global knitting yarn ball market report based on the channel type, material, and region:

Global Knitting Yarn Ball Retail Market Report Segmentation

  • Channel Type Outlook (Volume, Kilotons; Revenue, USD Million; 2018 - 2030)

    • Physical Stores

    • Online Channels

  • Material Outlook (Volume, Kilotons; Revenue, USD Million; 2018 - 2030)

    • Cotton

    • Wool

      • Merino Wool

      • Alpaca

      • Cashmere

    • Silk

    • Others

  • Regional Outlook (Volume, Kilotons; 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

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