Knitting Yarn Ball Retail Market Size, Share | Report 2023-2032
The global knitting yarn ball retail market was surpassed at USD 5,717.32 million in 2022 and is expected to hit around USD 9,189.48 million by 2032, growing at a CAGR of 4.86% from 2023 to 2032.
Key Pointers
Report Scope of the Knitting Yarn Ball Retail Market
| Report Coverage | Details |
| Market Size in 2022 | USD 5,717.32 million |
| Revenue Forecast by 2032 | USD 9,189.48 million |
| Growth rate from 2023 to 2032 | CAGR of 4.86% |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Market Analysis (Terms Used) | Value (US$ Million/Billion) or (Volume/Units) |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Covered | Ball yarn; Sullivan’s USA; Ganga Acrowools; Vardhman Group; Gomitolatura Albatros di Chen Xiaoqun; Gedifra; Hobbii; The Yarnery; King Cole; Rowan |
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.
Channel Type Insights
Physical stores segment led the market and accounted for more than 81.55% share of the global revenue in 2022. The segment is expected to expand at a CAGR of 4.52% 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 103.94 million units in 2022 and is expected to witness expansion at the highest CAGR of 5.32% 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 50.37% 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 3,179.44 million in 2022 and is expected to expand at a highest CAGR of 5.47% 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.
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 1,912.04 million in 2022 and is estimated to expand at a CAGR of 4.15% 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.
Europe valued at the revenue of USD 2,182.7 million in 2022 and is anticipated to develop at a CAGR of 5.48% in terms of revenue during the period of 2023-2032. 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.
Knitting Yarn Ball Retail Market Segmentations:
By Channel Type
By Material
By Regional
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers