Canada: Sewing Machine Needle Market 2024

Sewing Machine Needle Market Size in Canada

The Canadian sewing machine needle market totaled $X in 2022, picking up by 9.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -29.4% against 2020 indices. Sewing machine needle consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Sewing Machine Needle Exports

Exports from Canada

In 2022, approx. X units of sewing machine needles were exported from Canada; rising by 1,050% against 2021. Overall, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2015 when exports increased by 1,895% against the previous year. As a result, the exports reached the peak of X units. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, sewing machine needle exports surged to $X in 2022. In general, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2015 when exports increased by 1,964% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Taiwan (Chinese) (X units) was the main destination for sewing machine needle exports from Canada, accounting for a approx. 98% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Taiwan (Chinese) was relatively modest.

In value terms, Taiwan (Chinese) ($X) emerged as the key foreign market for sewing machine needles exports from Canada.

From 2012 to 2022, the average annual rate of growth in terms of value to Taiwan (Chinese) was relatively modest.

Export Prices by Country

The average sewing machine needle export price stood at $X per thousand units in 2022, reducing by -34.1% against the previous year. Over the period under review, the export price saw a perceptible setback. The most prominent rate of growth was recorded in 2019 an increase of 119% against the previous year. As a result, the export price attained the peak level of $X per thousand units. From 2020 to 2022, the average export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Taiwan (Chinese).

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to 0.0% per year.

Sewing Machine Needle Imports

Imports into Canada

In 2022, approx. X units of sewing machine needles were imported into Canada; with an increase of 35% on 2021 figures. Overall, total imports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -5.9% against 2020 indices. The growth pace was the most rapid in 2020 with an increase of 44% against the previous year. As a result, imports attained the peak of X units. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, sewing machine needle imports surged to $X in 2022. In general, total imports indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -14.1% against 2020 indices. The pace of growth appeared the most rapid in 2020 when imports increased by 45% against the previous year. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, India (X units) constituted the largest sewing machine needle supplier to Canada, accounting for a 67% share of total imports. Moreover, sewing machine needle imports from India exceeded the figures recorded by the second-largest supplier, Brazil (X units), ninefold. The third position in this ranking was taken by the United States (X units), with a 5.4% share.

From 2012 to 2022, the average annual growth rate of volume from India amounted to +9.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+5.9% per year) and the United States (+10.8% per year).

In value terms, India ($X) constituted the largest supplier of sewing machine needles to Canada, comprising 67% of total imports. The second position in the ranking was taken by Brazil ($X), with a 7.3% share of total imports. It was followed by the United States, with a 5.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from India stood at +8.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+4.9% per year) and the United States (+9.9% per year).

Import Prices by Country

The average sewing machine needle import price stood at $X per thousand units in 2022, reducing by -2.2% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 an increase of 10% against the previous year. Over the period under review, average import prices reached the peak figure at $X per thousand units in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Vietnam ($X per thousand units) and India ($X per thousand units), while the price for Germany ($X per thousand units) and Japan ($X per thousand units) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (-0.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :