Knitting And Crochet Market to grow at a CAGR of 6.4% during 2024-2028
The Knitting And Crochet Market is expected to grow at a CAGR of 6.4% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 10694 million. The global knitting and crochet market is undergoing substantial evolution, fueled by technological innovations and a heightened emphasis on sustainability. At the recent ITMA exhibition in Milan, Italy, which attracted 110,000 international attendees in 2023, the industry's dynamic growth and innovation were underscored. A prominent trend is the adoption of advanced, eco-friendly materials, giving rise to technical textiles with multifunctional applications in fashion, sports, architecture, defense, and healthcare. Robotics and artificial intelligence (AI) are pivotal in automating knitted textiles' production, while 3D digitization streamlines supply chains. Early AI integration facilitates retooling and efficiency enhancements, enabling autonomous machines to broaden their capabilities.
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Technavio analysts predict that the Apparel subsegment will lead the Application segment during 2024 and 2028 The knitting and crochet market represents a significant niche within the textile industry, showcasing robust growth and innovation. Key players engage in manufacturing and distributing a wide array of knitted and crocheted products, including garments, accessories, and home textiles. Consumer demand for customized, eco-friendly, and high-quality items fuels market expansion. Strategic partnerships, technological advancements, and sustainable practices are essential for maintaining competitiveness.
Here are the various ways based on which the market is segmented:
There are several factors that are causing the market to flourish initiatives for training and employment opportunities
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Title: Exploring the Knitting and Crochet Market: Tools, Skills, and Creations The knitting and crochet market is a vibrant and diverse community of creatives who share a passion for transforming fiber into beautiful garments, home decor, and more. Both hobbies require unique tools and skills, but they each offer distinct advantages. For crochet, hooks and threads are essential. Crochet hooks come in various sizes and materials, allowing for intricate stitch work and delicate fabric creation. Crochet thread is often thinner than knitting yarn, making it perfect for creating detailed patterns, such as crochet sock patterns or table runners. Knitting, on the other hand, involves needles and yarn. Knitting machines and looms can also be used for larger projects. Knitting techniques include active yarn loops, stitches, and color and design combinations. Knitted fabrics are known for their drape and texture, making them ideal for garments and blankets. Both hobbies require hand-eye coordination and patience, but the results are well worth the effort. From crocheted fabric flowers to knitted sweater vests, the possibilities are endless. Whether you're a beginner or an experienced crafter, the knitting and crochet market offers a wealth of resources, techniques, and projects to explore. So, grab your favorite fiber and get started!
The global apparel, accessories, and luxury goods market encompasses businesses involved in the manufacturing and marketing of textiles, apparel, accessories, and luxury goods, excluding footwear manufacturers. This market is driven by several key factors, including the expanding working female population, which contributes to increased household disposable income and subsequent spending on apparel, accessories, and luxury goods. According to Technavio, the market size is determined by the consolidated revenues of textiles, apparel, accessories, and luxury goods manufacturers and marketers.
The Knitting And Crochet Market is experiencing significant growth, fueled by the initiatives for training and employment opportunities. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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