Wool Global Market Report 2023

“Wool Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on wool market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
• Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
• Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
• Measure the impact of high global inflation on market growth.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market shares.
• Benchmark performance against key competitors.
• Suitable for supporting your internal and external presentations with reliable high quality data and analysis
• Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
• All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for wool? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The wool market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

• 1) By Type: Fine Wool (≤ 25 µ); Medium Wool (25 to 35 μ); Coarse Wool (≥ 35 µ)

• 2) By Source: Merino Wool; Peruvian Highland Wool; Teeswater Wool; Shetland Wool; Cashmere Wool; Other Sources

• 3) By Application: Apparels; Interior Textiles

• Companies Mentioned: Sudwolle Group GmbH; Brown Sheep Company Inc.; Indorama Ventures Public Company Limited; Europa Wools Ltd.; Xinao Textiles Inc.

• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

• Time series: Five years historic and ten years forecast.

• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.

• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

• Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Major players in the wool market are Sudwolle Group GmbH, Brown Sheep Company Inc., Indorama Ventures Public Company Limited, Europa Wools Ltd., Xinao Textiles Inc., Laxtons Limited, Blue Sky Fibers Inc., Amtex Yarn Manufacturing Inc., Kentwool Co., Carolina Mills Inc., National Spinning co. Inc., Tahki Stacy Charles Inc., Merinotex, Jiangsu Unitex Co. Ltd., and Zhangjiagang Shepherd Inc.

The global wool market is expected to grow from $37.06 billion in 2022 to $38.87 billion in 2023 at a compound annual growth rate (CAGR) of 4.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The wool market is expected to reach $45.05 billion in 2027 at a CAGR of 3.8%.

The wool market consists of sales of woolen yarns, woolen clothes, woolen accessories, hard crafts items, quilts, and carpets. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

Wool is the silky, wavy, or curly undercoat of various hairy mammals that is composed of a mesh of keratin fibers and coated with fine scales. It is obtained by shearing fleece (hair) from sheep and other animals. Wool is primarily used to make winter accessories, garments, and blankets.

Asia-Pacific was the largest region in the wool market in 2022. Western Europe is expected to be the fastest-growing region in the forecast period. The regions covered in wool report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main types of wool are fine wool (≤ 25 µ), medium wool (25 to 35 μ), and coarse wool (≥ 35 µ). Fine wool refers to the finest micron-sized wool fiber derived from Merino sheep and is highly regarded for high-quality, soft-handling textiles and knitting yarns, due to its small diameter and extreme softness. The source included are merino wool, peruvian highland wool, teeswater wool, shetland wool, cashmere wool, and others, which are used in several applications, including apparel and interior textiles.

Growth in retail sales of clothes is expected to propel the growth of the wool market going forward. Cloth retail is the business of purchasing clothing from manufacturers and selling it to customers. Wool is a popular fabric used in the production of clothes. Customers purchasing wool clothing raises demand for the material, which might lead to an increase in wool production and sales. Furthermore, retail sales of wool clothes can increase awareness and visibility of wool as a material, hence increasing demand for more woollen items. Furthermore, growing urbanisation has boosted demand for clothing retail sales. For instance, in January 2023, according to a statistical report published by the United States Census Bureau, a principal agency of the US Federal Statistical System, clothing and clothing accessory retail sales were $ 17.13 billion in June 2020 and $26.00 billion in June 2022, representing a 34.11% growth. Therefore, the growth in retail sales of clothes is driving the growth of the wool market.

Product innovations are a key trend gaining popularity in the wool market. Major companies operating in the wool market are focused on developing innovative solutions to strengthen their position in the market. For instance, in August 2021, Allbirds Inc., a US-based clothing and footwear company, introduced a new range of sporting gear comprised of merino wool and yarn manufactured from eucalyptus tree pulp. Wool is an excellent choice for sportswear since it can absorb up to 30% of its weight in moisture while also controlling temperature. Its primary focus is on information on the emissions created by polyester fiber and its widespread application. The unique feature of this product is the carbon footprint number, which is written on every item and indicates how many kilograms of carbon was emitted to the environment during manufacturing.

In July 2022, Indorama Ventures Public Company Limited (IVL), a Thailand-based chemical firm, completed the acquisition of the wool-spinning activities of Tollegno 1900 S.p.A. in Italy and Poland for an undisclosed amount. This acquisition is a strategic match for IVL's unique integrated business platform and will contribute significantly to the company's wool business, which is part of the fibers sector. It will also help Indorama Ventures Public Company Limited (IVL) expand its worsted yarn presence in Europe and expand its wool goods internationally through trade companies in America and Asia. Tollegno 1900 is an Italy-based textile firm that manufactures yarns and textiles from wool, cashmere, and technical fibers for the high-end fashion and home furnishings markets.

The countries covered in the wool market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The wool market research report is one of a series of new reports from The Business Research Company that provides wool market statistics, including wool industry global market size, regional shares, competitors with a wool market share, detailed wool market segments, market trends and opportunities, and any further data you may need to thrive in the wool industry. This wool market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.