Press release
Rising Retail Sales Of Wool Clothing Is A Catalyst For The Expanding Wool Market: A Significant Driver Propelling The Wool Market In 2025
Wool
What Is the Current Wool Market Size and Its Estimated Growth Rate?
Over the past few years, the wool industry has seen solid growth. The market size, which is projected to rise from $10.71 billion in 2024 to $11.61 billion in 2025, is generating a compound annual growth rate (CAGR) of 8.4%. The historical growth of this sector can be traced back to demand in the textile industry, prevailing fashion trends, high-end clothing, thermal insulation qualities, cultural importance, and the trend of natural and sustainable fibers.
In the coming years, it is anticipated that the wool market will experience significant expansion. By 2029, it's projected to reach a value of $16.3 billion, with a compound annual growth rate (CAGR) of 8.8%. This projected growth in the forecast period is linked with the heightened consciousness towards sustainable fashion, advancements in wool blends, the trend for outdoor and activewear, global economic development, and the revival and promotion of culture and heritage. Key trends for the forecast period involve an emphasis on circular economy procedures within the wool industry, a growing interest in luxury and premium wool goods, usage of wool for sustainable home textiles, integration of technology in wool cultivation, and the launch of biodegradable and compostable wool items.
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How Are Emerging Segments Shaping the Wool Market Landscape?
The wool market covered in this report is segmented -
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
Subsegments:
1) By Fine Wool (= 25 μ): Merino Wool, Superfine Wool, Cashmere
2) By Medium Wool (25 to 35 μ): Medium Merino Wool, Corriedale Wool, Dorset Wool
3) By Coarse Wool (= 35 μ): Crossbred Wool, Coarse Shetland Wool, Longwool Breeds
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Which Growth Factors Are Influencing Wool Market Expansion?
The surge in retail clothing sales is poised to stimulate the expansion of the wool market. The retail clothing sector involves buying garments from manufacturers and selling them to consumers. Wool, a widely favored fabric, is often used in clothing production. When consumers buy wool garments, they are, in turn, prompting a rise in its demand, which might lead to a spike in wool production and sales. Moreover, the increase in retail sales of woolen garments can improve the recognition and exposure of wool, consequently escalating the demand for more woolen products. Additionally, the escalating urbanization has propelled the demand for retail clothing sales. For example, as per a statistical analysis released by the United States Census Bureau, a chief agency of the US Federal Statistical System, in January 2023, clothing and clothing accessory retail sales stood at $26.00 billion in June 2022 - a growth of 34.11%. Hence, the expansion in retail clothing sales is prompting the growth within the wool market.
Who Are the Dominant Players Across Different Wool Market Segments?
Major companies operating in the wool market include Indorama Ventures Public Company Limited, Loro Piana S.P.A., Xinao Textiles Inc., Marzotto Group, Südwolle Group GmbH, Merinotex, National Spinning Co Inc., Pendleton Woolen Mills, Icebreaker, Carolina Mills Inc., Botto Giuseppe SpA, Abraham Moon & Sons Ltd., James Johnston & Company of Elgin Limited, Todd & Duncan Ltd., Kentwool Co, Schoeller GmbH & CoKG, Bower Roebuck & Co Ltd., Jiangsu Unitex Co Ltd., Harris Tweed Hebrides, Amtex Yarn Manufacturing Inc., Brown Sheep Company Inc., Europa Wools Ltd., Tahki Stacy Charles Inc., Zegna Baruffa Lane Borgosesia S.p.A., The Woolmark Company, Laxtons Limited, Blue Sky Fibers Inc., Fox Brothers & Co Ltd., Zhangjiagang Shepherd Inc., Mallalieus Ltd., Filatura Di Grignasco Spa, FRATELLI PIACENZA S.P.A.
What Are the Latest Developing Trends in the Wool Market?
In the realm of the wool market, there's a growing trend towards product innovations. Major corporations within the wool market are directing their efforts towards crafting imaginative solutions in a bid to bolster their market standing. As an illustration, the Sweden-originated womenswear firm, Filippa K, unveiled its first wool garments fitted with advanced QR codes in September 2024. These QR codes give access to tracking information tracing back from the sheep farm to the finished product. This enterprise forms a part of The Fiber Traceability Initiative, a cooperative venture among Axfoundation, GS1 Sweden, and VirtualRouteZ, with the goal of fashioning a sustainable and transparent wool value chain.
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Which Geographic Regions Are Expected to Dominate the Wool Market in the Coming Years?
Asia-Pacific was the largest region in the wool market in 2024. Western Europe is expected to be the fastest-growing region in the global wool market report during the forecast period. The regions covered in the wool market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Wool Market?
2. What is the CAGR expected in the Wool Market?
3. What Are the Key Innovations Transforming the Wool Industry?
4. Which Region Is Leading the Wool Market?
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