Asia’s Sewing Needle Market to Grow 1.1% Annually Until 2035
The sewing machine needle market in Asia hit a rough patch in 2024, snapping a two-year streak of growth. Still, there’s a sense of optimism for the long haul, with forecasts hinting at steady gains in both market volume and value through 2035.
This blog post digs into the latest findings from IndexBox’s report. Let’s take a closer look at what’s really happening in the sewing machine needle industry across Asia.
Table of Contents
Market Overview
In 2024, the sewing machine needle market in Asia took a sharp hit. Consumption dropped by 20.1% to 4.6 million units, and revenue tumbled by 23% to $211 million.
This downturn ended a two-year growth run. Even so, projections suggest the market will bounce back, with volume expected to grow at a CAGR of +1.1% and value at +2.0% through 2035.
Key Consumption Markets
India and China Lead in Volume
India and China topped the charts for sewing machine needle consumption in 2024, each using up 1.2 million units. Add in Cyprus, which consumed 504K units, and these three made up 63% of total Asian consumption.
Cyprus Shows Explosive Growth
Cyprus stood out with eye-popping growth in both total and per capita consumption—posting a wild CAGR of +66.7%. The country also led per capita, clocking in at 407 units per 1000 persons, which honestly dwarfs the world average of just 1 unit per 1000 persons.
Production Trends
Production in Asia also shrank in 2024, falling by 18.7% to 4 million units. Still, China, India, and Vietnam continue to dominate, together churning out 86% of the region’s total output.
China, India, and Vietnam: Dominant Production Hubs
China led with 1.8 million units, India followed at 1.2 million units, and Vietnam produced 531K units. These countries have really kept the wheels turning for production in Asia.
Trade Landscape
Imports and Exports
Imports in Asia shrank by 6.8% to 3 million units in 2024, ending a three-year climb. China and Cyprus imported the most, with China bringing in 682K units and Cyprus 502K units.
Exports held steady at 2.4 million units, with China and Vietnam leading the pack. That stability on the export side is worth noting.
Price Disparities
Prices varied a lot, both for imports and exports. Import prices ranged from $106 per unit in Singapore to just $5.8 per thousand units in Cyprus.
Export prices also bounced around—Singapore topped out at $161 per unit, while Malaysia sat at the bottom with $15 per unit. That’s a pretty wide gap, isn’t it?
Future Outlook
Looking ahead, the long-term outlook for the sewing machine needle market in Asia seems upbeat. Projections see volume growing at a CAGR of +1.1% and value at +2.0% through 2035.
By 2035, the market could hit 5.2 million units in volume and climb to $264 million in value. That’s not too shabby, considering the recent dip.
The sewing machine needle market in Asia shrank noticeably in 2024. Still, I’d say there’s reason to feel upbeat about the future.
India, China, and Cyprus stand out as leaders in both consumption and production. Price differences between countries can get pretty wild, which adds a layer of unpredictability to the market.
If you want to dig deeper into the numbers and trends, check out the full report from IndexBox on the sewing machine needle market in Asia.