The global needlecraft pattern market is expected to grow at a steady pace during the forecast period. the global needlecraft pattern market is set to enjoy a valuation of US$ 30 billion in 2023, and further expand at a CAGR of 6.4% to reach US$ 55.7 billion by the year 2033. The demand for needlecraft pattern is increasing on the back of increased
The factors supporting the needlecraft pattern market growth are -
Needlecraft is the work done with a needle other than plain stitching such as Crotching, embroidery, cross stitching, and knitting. Needlecraft patterns are there since long time. The process of making patterns with needle in embroidery and needle point are needlecraft. The needlecraft technique is used for making fabrics more appealing.
Increased women’s interest in needlework patterns and increased spending on the material used in needlework to boost the demand for needlecraft patterns. Also the increasing technological innovation in sewing machines and other related materials as threads, and needles are expected to augment the sales of the needlecraft pattern market during the forecast period.
Also, the manufacturer of needlecraft patterns has increased R&D to address technological innovations and to provide customized and sustainable solutions. Moreover, the key players developed solutions that are more durable, high quality and high performance.
Increasing demand for embroidery works on apparel is driving the growth of the market around the world. Innovations within the needlecraft pattern market have centered mainly on machinery in the areas of crocheting, embroidery, and conventional sewing, among others. Also, the high spending power of the consumer, and improved way of lifestyle abode well for market growth.
Amid covid-19 pandemic, a slight decline in growth of the global needlecraft pattern market was observed on account of the disruption of the supply chain creating a scarcity of raw materials, product availability, and other resources. The distribution of needlecraft patterns is shifting from a traditional to an e-commerce medium. Sales via online platforms continue to rise.
North America dominates the market for needlecraft patterns, with the US sharing the highest market share of the global market. The increased demand for high-quality embroidery material in the region boosts market growth. The increased trend of hand embroidery over machine work in Europe provides an opportunity for market growth.
Asia pacific is anticipated to be the largest market for needlecraft pattern market due to increasing demand for handicraft items over machine made products. The players in the region are focusing on innovative techniques to increase their global presence.
FMI research indicates that needlecraft pattern shows great potential for not only durability but improving outcomes for buyers in different areas as needlecraft pattern offers benefits like:
To meet all these objectives, the manufacturer of needlecraft pattern offers a wide selection of sizes, shapes, and materials with easy-to-handle formats to bring out the best in packaging. Also, the manufacturer of needlecraft patterns has increased R&D to address technological innovations and to provide customized and sustainable solutions.
Moreover, the key players developed solutions that are more durable and high quality. The key market players operating in the needlecraft pattern market are DMC group, Needle in a Hay Stack, Hobbycraft Trading Ltd, and Red Gate Stitchery among others. The market players are focusing on strategic collaboration, partnership, and new product launches to increase their market share. Also, the manufacturer of needlecraft patterns increased their production capacity to meet the increasing demand for needlecraft patterns.
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Needlecraft patterns has been a factor of women’s identity since the early ages. With various new techniques invented in such art in recent decades, the market is now gaining prominence more than before. As a result, leading market participants are focused on developing more innovative ideas that can further help the market growth. The market is set to witness a CAGR of 8.2% during 2021-2031.
The market is growing as a high number of women around the world express an interest in needlecraft works and spend more money on high-end materials used in needlecraft works. Due to the availability of superior products such as needles, threads, and technologically upgraded sewing machines, the industry is expected to witness rising demand.
Customers have also been drawn to the availability of small sewing machines that can do the same activities as full-sized machines but prioritize space and convenience, as well as hand-powered agitators and compact proportions. In a fast-paced market, consumers, particularly women, are drawn to such perks because they seek more functional and operational devices that provide more output.
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Handcrafts in needlework have been gaining popularity since the early ages. Handicrafts are one-of-a-kind manifestations of a culture or community made with local materials and craftsmanship. However, as the world becomes increasingly globalized, items are becoming more commoditized, and artisans' work is competing with goods from all over the world. It is no longer possible to look at traditional artisan communities and their products in isolation from global market trends and competition.
Handicrafts have evolved into a broader category of home accessories that includes handcrafted, semi-handcrafted, and machine-made items. Fashion trends, consumer purchasing patterns, and end-market economic situations all have a significant impact on the home accessory business. Many craftsmen have deepened their sales with those end markets, providing an opportunity for those looking to export their goods.
As a result, further innovations and customization of handcrafts to meet the needs of consumers are expected to boost sales in the future.
COVID-19 had an immediate impact on the global industry. Manufacturers of needlecrafts were directly impacted by the COVID-19 pandemic. Governments in a number of countries had imposed a shutdown to prevent the virus from spreading further. The supply chain was interrupted as a result of the closing of production plants and trade sanctions, resulting in a negative impact on market growth.
Such restrictions had also hampered the domestic markets in various regions leading to decline in sales of cultural and traditional handicrafts. Moreover, the raw material supply in embroidery and other needlecraft works felt the impact of the pandemic leading to degrading market growth.
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US is considered as the lucrative market for needlework’s globally. The U.S. currently holds a significant share of the global market. The residential sector in the region in one of the most prominent areas due to the preference of the regional female population for the arts that can be executed at home, that includes needlework’s.
Furthermore, the industrial sector in North America is being pushed by increased demand for energy-efficient machinery. The increased awareness of licensed energy-efficient methods encourages development in the United States and Canada.
Furthermore, due to the need to replace old methods with smart and multi-functional machines, the region is predicted to grow significantly. Customers in the United States and Canada, on the other hand, have a strong preference for high-quality embroidery materials.
Europe is considered as a fragmented region as various countries in the region have been the hub for different fashion trends and cultural trends. Due to the increasing demand in fashion industry, there is a growing demand for handicrafts over the machine-made items in European market. The consumers have now started utilizing modern and high-quality raw materials such as needles and threads due to the associated convenience.
As a result, the factors responsible for this growth could be due to the improving lifestyles of consumers, improvement in the purchasing power, and high income source equipped with better methods invented in the region. Furthermore the players in the market are focusing on expanding their business globally and even focused on innovations.
Some of the leading manufacturers and suppliers of needlecraft patterns include
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
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