Fleece Knitting Yarn Market is Anticipated to Reach Around USD 1521.3 MN in 2027 | Credence Research

The global Fleece Knitting Yarn market generated revenue of around USD 835.2 million in 2020 and anticipated to grow at a CAGR of over 8.3 % during the forecast period from 2021 to 2027 to reach around USD 1521.3 million in 2027.

Fleece obtained from the sheep are processed to make fleece knitting yarns. Woolen processing and worsted processing utilize scouring, carding, gilling, combing, drafting, spinning and twisting for creating knitting yarns. Fleece Knitting Yarns have distinct permeability of water vapor and unique thermal insulation. These yarns are used for manufacturing winter clothes, blankets and other house hold products due to their comforting and thermal properties.

Key Trends in Global Fleece Knitting Yarn Market

Increasing use of wool in fast fashion and athleisure garments

The growing emphasis on circular economy and the reduction of petroleum-based fibres has opened up opportunities for wool in the fast fashion segment. Wool is more expensive than petroleum-based fibres, but because of its renewability and natural fabric, it is becoming more popular in fast fashion. The higher the quality of the yarns, the longer the wool-based clothing will last. The elasticity of woollen fibres allows clothing to be stretched up to 30% without causing damage. Wool is able to absorb moisture, neutralise odours, and breathe. These characteristics make fleece knitting yarn an excellent material for activewear, athleisure, and outdoor clothing. It is recyclable as well as biodegradable. The growing importance of fitness is driving the demand for versatile athleisure clothing.

Impact of COVID 19 on Global Fleece Knitting Yarn Market

COVID 19 had a significant impact on the revenue generation of Fleece Knitting Yarn market. Due to the COVID 19 pandemic, most of the governments have imposed stringent regulation regarding mobility of people, products and functioning of the industrial units. The lockdown has affected the production of fleece knitting yarn and the products based on it. COVID 19 has caused a decline of 20.2% in total revenue generated by the global Fleece Knitting Yarn market, when compared to that in 2019. 

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Global Fleece Knitting Yarn Market by Application Insights

The three major applications in the global Fleece Knitting Yarn market are blankets, apparel, and household products. In 2020, apparel accounted for the vast majority of revenue generated in the Fleece Knitting Yarn market. In 2020, it was responsible for more than 42.0 percent of the market.

Global Fleece Knitting Yarn Market by Type Insights

Fine wools, medium wools and coarse wools are the three major types of wools in the global Fleece Knitting Yarn market. According to WTO, 22% of the overall wool produced are classified as medium wools. Fine wool is finding more use in manufacturing of apparels.

Fine Wool Segment to Dominate the global Fleece Knitting Yarn market

Global Fleece Knitting Yarn Market by Regional Insights

Asia-Pacific was the largest market for Fleece Knitting Yarn in 2020 and accounted for over 38.9% share in total revenue generation. Australia, and New Zealand are the major exporters of the wool in the world. On the other hand, China accounts for more than 40% of the consumption of wool and they import wool to meet the demand.  Asia-Pacific is also anticipated to exhibit the highest CAGR in the global Fleece Knitting Yarn market during the forecast period. The presence of a large number of sheep farms in the United States drives North American wool production. The United States ranks third in the world in terms of wool production. Furthermore, they turn wool into value-added products. However, Asia Pacific is expected to have the highest CAGR during the forecast period. Cold weather prevails in many parts of Europe, fueling demand for wool-based garments, blankets, and other household items. It drives fleece knitting yarn production in Europe and helps the region maintain its position as a major fleece knitting yarn market worldwide.

Global Fleece Knitting Yarn Market Competitive Landscape

Most prominent players in the global Fleece Knitting Yarn market include Artyarns, Blacker Yarns, Brown Sheep Company, Erdos Group, Hengyuanxiang, Karbel Group, Malabrigo, MEZ Crafts, Shibui Knits, and Snow Lotus Group. The report covers very detailed profiles of these key players.

Market Segmentation

Global Fleece Knitting Yarn Market by Application, 2015 – 2027

Blankets
Apparels
Household Products
Others

Global Fleece Knitting Yarn Market by Type, 2015 – 2027

Fine Wools
Medium Wools
Coarse Wools

Global Fleece Knitting Yarn Market by Region, 2015 – 2027

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

Global Fleece Knitting Yarn Market: Key Players

Artyarns
Blacker Yarns
Brown Sheep Company
Erdos Group
Hengyuanxiang
Karbel Group
Malabrigo
MEZ Crafts
Shibui Knits
Snow Lotus Group

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