What is the global market size of Wool Market?

Wool Market size was valued at USD 37.5 billion in 2021 and is poised to grow from USD 38.2 billion in 2022 to USD 53.40 billion by 2030, growing at a CAGR of 4.9% during the forecast period (2023-2030).

Wool Market Size, Share, Growth Analysis, By Type, By Form, By Application, By Distribution Channel, By Region - Industry Forecast 2025-2032

Report ID: SQMIG25M2014 | Region: Global | Published Date: December, 2024
Pages: 223 | Tables: 63 | Figures: 75

Wool Market News

In January 2024, Wool Impact launched a navigator tool. It has appointed a Wool Impact navigator who can connect individuals and businesses with the necessary expertise and support to bring their innovative wool ideas to life.
In December 2023, Napier’s New Zealand Wool Testing Authority launched robot recruit.
In November 2023, ISTO., the renowned Portuguese menswear brand, presented its latest worker jacket crafted from 100% recycled wool, just in time for autumn. In collaboration with Manteco’s MWool®, an Italian firm with 80 years of experience in wool recycling, the jacket epitomises sustainable fashion.

Wool Market Report Snapshots

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Global Wool Market size was valued at USD 38.20 billion in 2022 and is poised to grow from USD 40.07 billion in 2023 to USD 58.75 billion by 2031, growing at a CAGR of 4.9% during the forecast period (2024-2031).

Global wool market is characterized by a diverse range of players, including wool producers, processors, and manufacturers. Many companies are actively involved in wool production and supply chain management, contributing to the market's competitiveness. These players often differentiate themselves based on factors such as product quality, sustainability practices, and customer service. Additionally, technological advancements in wool processing and innovative product offerings have intensified the competition, as companies strive to capture market share and meet the evolving demands of consumers in a highly competitive industry. 'The Woolmark Company ', 'New Zealand Wool Services International ', 'Australian Wool Innovation Limited ', 'China National Woolen Textile Association ', 'Plymouth Yarn Company, Inc. ', 'Woolen Mills ', 'Kentwool Company ', 'J. & J. Cash Ltd. ', 'Woolrich, Inc. ', 'Pendleton Woolen Mills ', 'Harris Tweed Authority ', 'Devold of Norway ', 'Loro Piana S.p.A. ', 'Vitale Barberis Canonico ', 'Reda Group ', 'Schoeller Wool ', 'The Merino Company ', 'Sudwolle Group ', 'Indorama Ventures Public Company Limited ', 'Xinao Textiles Inc.'

One driver of the global wool market is the increasing demand for sustainable and eco-friendly fibers. As consumers become more conscious of environmental issues, there is a growing preference for natural materials like wool over synthetic alternatives. Wool is biodegradable, renewable, and has a low carbon footprint, making it an attractive choice for environmentally conscious consumers. This shift in consumer preferences towards sustainable products is driving the demand for wool and influencing the growth of the global market.

One key market trend in the global wool industry is the growing popularity of traceability and transparency in the supply chain. Consumers are increasingly interested in understanding the origin and production process of the products they purchase, including wool. This trend has prompted companies to adopt technologies like blockchain and RFID tagging to track and authenticate the source of wool, ensuring ethical practices and promoting sustainability. By providing verifiable information about the wool's journey from farm to finished product, brands can build trust with consumers and meet their demand for responsible and transparent sourcing.

North America dominated the global wool market. North America has a well-established textile industry with a strong demand for wool products. Countries like the United States and Canada have a significant presence in the market, both as consumers and producers of wool. In North America, the United States holds a prominent position due to its large-scale wool production, especially in states like Texas, California, and Colorado. The country's wool industry benefits from advanced breeding programs that have resulted in high-quality wool, making it highly sought after in both domestic and international markets. Additionally, the United States has a robust manufacturing sector capable of processing wool into a wide range of finished products.

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Wool Market Size, Share, Growth Analysis, By Type, By Form, By Application, By Distribution Channel, By Region - Industry Forecast 2025-2032

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