Circular Knitting Accessory Needles Market Size, Share, Growth, and Industry Analysis, By Type (Semicircular Needle and Straight Needle), By Application (Single Sided Circular Knitting Machine and Double-Sided Circular Knitting Machine) and Regional Insights and Forecast To 2031

CIRCULAR KNITTING ACCESSORY NEEDLES MARKET REPORT OVERVIEW

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The global circular knitting accessory needles market size was USD 1205 million in 2022 and will touch 1777 million by 2029, exhibiting a CAGR of 5.2% during the forecast period.

Over the past few years, the kitting world of circular needles exhibited stable dynamics fueled by the increasing demand for knitting accessories and gadgets of novice and professional knitting enthusiasts. Circular knitting accessories of this type allow artisans to create jumpers, ski and hacking hats, scarves, and other multiple products by knitting transparently. It is fairly possible that the market for round knitting accessory needles is surely on a trajectory to grow even bigger with the increasing popularity of knitting and the craft of do-it-yourself projects worldwide.

The remarkable dynamics of the circular knitting accessory needles market place attract the operators having a stable base, utilities, and innovations. Known needle advancements have permitted one to develop needles with great sturdiness, elasticity, accordingly, performance. Properly equipped stores that are offered different sizes of needles, different materials and different knitting patterns may certainly provide for multiple requirements. The gifts that come with this can cause a boom in the market. As well as the overarching textile production trend of transitioning to fully automated round knitting machines and the rising market for handcrafted and personalized knitwear items, the demand for circular knit accessories has seen a mild development and growth.

COVID-19 IMPACT: Shift in Consumer Behaviour to Boost Market Growth Significantly

The global COVID-19 pandemic has been unprecedented and staggering, with the circular knitting accessory needles market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

Many people used knitting as a method to break the monotony of staying at home at some stage in the pandemic, channelling their feelings and electricity into the craft as a way to address the pressure surrounding them. As it became popular, users started to have a demand for the circular knitting accessory needles, which was set to increase as people continued to take up the newfound hobby of recreational knitting. Yet, the emergent high demand triggered some manufacturers who did not expect it, leading to further difficulties in the supply chain on top of what they were already facing.

During lockdowns and social distance regulations, there was a massive increase in internet shopping to buy different supplies ranging from knitting tools, among many others. Online shopping websites were adopted as the primary source for circular knitting needle purchases when physical stores were closed or had cut down on walk-in traffic heavily. This shift underscored the significant line between the manufacturer and seller: they have to be strong in the digital market when it comes to circular knitting accessory needles. The market is anticipated to boost the circular knitting accessory needles market growth following the pandemic.

LATEST TRENDS

"Innovation in Needle Design to Drive Market Growth"

With the endless consideration for end-users experience, its users and performance as well as innovation is likely to be employed on the design of needles for improved use. It is possible that needles are developed by making grips put comfort in the forefront, interchangeable needle tips for versatility and specialized coatings to add smoother knitting. Consumers who tend to be more selective in choosing products that meet their personalized tastes and satisfy their individuality are typecast those who buy goods that match their unique preferences. Such a movement might result in increasing number of seekers for small-batch circular sticks for their knitting accessories that will fit their personal needs, as they would be able to pick needle sizes, materials, or designs. These latest developments are anticipated to boost the circular knitting accessory needles market share.

CIRCULAR KNITTING ACCESSORY NEEDLES MARKET SEGMENTATION

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By Type                  

Based on type the global market can be categorized into Semicircular Needle and Straight Needle.

• Semicircular Needle: A kind of special-made needles in shape of semi-circle are called circular needles or double-pointed needles. They are made with two points that are connected by a cable - the third end of them. They are usually preferred for working circular knitting, like socks, hats, sleeves and others with a cylindrical shape with no seams. The cable is flexible which allows stitches to be going around the needle circumference from all over the needle, so that it is easy to work with smaller circumferences without the need of traditional straight needles.

• Straight Needle: Following traditional knitting needle techniques, straight needles have either a pointy end on one side with a stopper or knob on the other side to prevent stitches from slipping of. They are generally used for garter stitch, a form of knitting that is suitable for flat projects, such as scarves, blankets, and garment panels. The straight needles unlike their counterparts are made from different types of material including wood, metal, and plastic and other kinds of material.

By Application

Based on application the global market can be categorized into Single Sided Circular Knitting Machine and Double-Sided Circular Knitting Machine.

• Single Sided Circular Knitting Machine: Another common circular knitting machine is the single-sided, also known as single jersey, which deploys purely to make flat warm fabrics with a soft flowing texture. These machines (knitting machines) are usually applied in vibrant, printing, reaching, and decorative designs of such fabric as T-shirts, clothing for lower body party, active wear and other knit fabrics. The devices that are circular but have the structure of a single tube are capable of developing textile with different weave structures such as jersey, pique, and rib.

• Double Sided Circular Knitting Machine: Along with all the traditional regular circular knitting machines, there has appeared a new type of double-sided knitting machines called double jersey machines meant to sew double-layered material with the smooth finishing surface on both sides. These machines are normally used for producing fabrics with thermal insulation, such as fleece, interlock, and double jersey fabric. Double-sided circular knitting machines are ideal for producing fabric utilized in outerwear, sportswear, activewear, and technical textiles.

DRIVING FACTORS

"Rising Popularity of Knitting as a Hobby to Boost the Market"

Currently the knitting becomes popular as a recreational activity and there are multiple factors which promote this such as therapeutic properties that it offers and increasing demand for handmade and DIY products. It also leads to increasing sales of and interest in circular knitting accessory needles among the hobbyists and zealous. Nowadays, the fact that e-commerce platforms are proliferated empowers circular knitting accessory needles to enter the market more easily. The internet technology as a channel keeps the purchase process easy for customer at global markets which is the main reason for the market expansion of these online shops by surpassing traditional brick and mortar stores.

"Fashion Trends & Consumer Preferences to Expand the Market"

The latest fashion styles and customers’ tastes of garments and knitted accessories vary. Round-up the knitting tools which offer the option to fulfill the specific wishes of customers interested in distinct and fashionable knitted clothing and accessories. Producers are motivated by the emerging technology to provide consumers with products that correspond to evolving needs of the market. It involves conducting circular production of accessory needles, for instance, from materials derived from bamboo or recycled metal in order to meet the trend of eco-friendliness. These factors are anticipated to drive the circular knitting accessory needles market share.

RESTRAINING FACTOR

"Competition from Alternative Crafting Methods to Potentially Impede Market Growth"

Circular knitting techniques, which include associated needle accessory involves, may appear more complex or difficult as compared to other hand craft skills. This idea might make the newbies or the occasional crafters shudder and afraid to show interest in circular knitting which of course truncates the prospective customers. However, there are various techniques like crocheting, weaving, or electronic knitting, which can be seen as substitutable artistic expressions. The choice of multiple crafts options can be one of the reasons for the impediments for the market expansion since consumers may not go for circular knitting accessories needles anymore. The factors are anticipated to hinder the growth of the circular knitting accessory needles market growth.

CIRCULAR KNITTING ACCESSORY NEEDLES MARKET REGIONAL INSIGHTS

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"Asia Pacific Dominating the Market as a Manufacturing Hub and Large Textile Industry"

The market is primarily segmented into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

The Asia Pacific region’s including countries like China, India and Taiwan are the primary manufacturing hubs of knitting accessories which includes circular knitting accessory needles. The region capitalizes on an existing pool of competent workforce, manufacturer base, and cheaper production methods, which makes here a darling of the needle industry. The Asia Pacific region, in terms of textiles, can be viewed as a hub that houses both traditional textile industry and the modern textile technology. The demand for round knitting accessory needles is carefully connected to the fabric industry's boom, as those needles are critical for producing diverse knitted textiles and garments.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

The circular knitting accessory needles market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive retail networks and online platforms, providing consumers with easy access to a wide variety of options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. Moreover, these industry giants continually invest in research and development, materials, and smart features in circular knitting accessory needles, catering to evolving consumer needs and preferences. The collective efforts of these major players significantly impact the competitive landscape and future trajectory of the market.

LIST OF TOP CIRCULAR KNITTING ACCESSORY NEEDLES COMPANIES

• Organ Needle [Japan]
• Groz-Beckert [Germany]
• Samsung Needles [South Korea]
• Shibata Needle Manufacturing [Japan]
• Morton Machinery Company [Taiwan]

INDUSTRIAL DEVELOPMENT

January 2021: The "SmartStix Interchangeable Circular Needle Set," produced by Knitter's Pride, is a flexible and innovative knitting needle set designed for circular knitting projects. This product features a hard and fast set of interchangeable needle pointers with a unique characteristic: integrated measurements alongside the needle shafts. The needles are marked with precise inch and centimetre measurements, allowing knitters to degree their crafts immediately on the needle without the need for added gear.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.