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World - Wool - Market Analysis, Forecast, Size, Trends And Insights
Report Update: Apr 1, 2024

World - Wool - Market Analysis, Forecast, Size, Trends And Insights

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Article Publishing Date: Sep 27, 2023

The Global Market for Wool: Key Importing Countries and Trends

Wool, one of the oldest and most versatile fibers in the world, has been traded globally for centuries. Known for its natural warmth, durability, and moisture-wicking properties, wool is used in various industries, including textiles, fashion, and interior design. The global wool trade has seen significant growth in recent years, with several countries emerging as key import markets for this valuable commodity.

China: The Largest Importer of Wool

With a staggering import value of USD 94.559 million in 2022 (IndexBox Data), China stands as the largest importer of wool in the world. The country has a long history of wool consumption and is known for its booming textile industry. China's demand for wool has grown rapidly over the years, with the domestic market unable to meet the rising needs of manufacturers.

China's wool imports primarily serve the country's massive textile and garment sector, which accounts for a significant share of global clothing production. The demand for high-quality wool, particularly fine merino wool, has surged due to changing lifestyles and fashion trends. Wool has also gained popularity as a sustainable and eco-friendly alternative to synthetic fibers.

India: A Growing Market for Wool

India, the world's second-largest importer of wool, recorded an import value of USD 69.567 million in 2022. The country has a rich textile heritage and a flourishing woolen industry. India's demand for wool is driven by the traditional woolen shawl and carpet manufacturing sectors, which have a strong domestic and global demand.

The Indian market for wool has witnessed significant growth in recent years, thanks to rising disposable incomes and changing consumer preferences. The demand for luxury wool products, including high-end woolen garments and accessories, has also contributed to this growth. Additionally, India's emerging middle class and increasing urbanization have led to a surge in demand for quality wool products.

Italy: A Hub for Wool Fashion

Italy, renowned for its fashion industry and textile heritage, ranks third in terms of wool imports. The country imported wool worth USD 57.448 million in 2022. Italy's demand for wool is predominantly driven by its thriving fashion and luxury goods sector. The country is known for its high-end woolen fabrics, yarns, and garments, which are sought after by fashion houses worldwide.

Italian textile manufacturers have a strong focus on quality and craftsmanship, producing luxurious wool products that appeal to discerning consumers. The demand for high-quality wool fabrics, particularly in the luxury fashion segment, has fueled Italy's import market for wool.

South Korea: A Key Player in the Wool Market

South Korea ranks fourth among the world's top import markets for wool, with an import value of USD 48.693 million in 2022. The country has a well-established textile industry, and wool is an essential component of its manufacturing sector. South Korea's wool imports primarily serve the domestic fashion and apparel market as well as the textile export industry.

South Korean consumers have a growing preference for natural and sustainable fibers, including wool. The demand for woolen clothing, including sweaters, suits, and scarves, has increased in recent years. Additionally, South Korean manufacturers utilize wool in the production of technical textiles, such as functional outerwear and sportswear.

Malaysia: A Surging Demand for Wool

Malaysia, a country known for its vibrant textile and apparel industry, completes the list of the top import markets for wool. The country's import value for wool reached USD 42.806 million in 2022, showcasing a strong and growing demand for this versatile fiber.

Malaysia's wool imports cater to the local textile industry, which produces a wide range of woolen garments and accessories. The country's fashion-conscious consumers have a preference for wool products due to their natural warmth and comfort. The demand for high-quality wool fabrics, particularly for winter clothing and home furnishings, has contributed to the growth of Malaysia's import market for wool.

Conclusion

The global trade in wool continues to expand, driven by the growing demand for natural and sustainable fibers. China, with its booming textile industry, leads the pack as the world's largest importer of wool. India, Italy, South Korea, and Malaysia also feature prominently in the global wool import market, catering to their respective textile and fashion industries.

As these countries witness economic growth and changing consumer preferences, their demand for wool is expected to continue rising. This presents immense opportunities for wool exporters worldwide. However, understanding the dynamics of these import markets and staying abreast of changing trends is crucial for exporters looking to establish a foothold in these lucrative markets.

For comprehensive insights and detailed analysis of the global wool trade, the IndexBox market report provides valuable data and statistics. This report covers key trends, market dynamics, and the competitive landscape, helping businesses make informed decisions and optimize their export strategies.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the global wool market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 13102200 - Wool, degreased or carbonised, not carded or combed

Country coverage:

Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

+ the largest producing countries

Data coverage:

  • Global market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Global production, split by region and country
  • Global trade (exports and imports)
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Company coverage:

Natural Fiber Welding, Inc., Allbirds, Camira Fabrics Limited, Wool Warehouse, Woola, WE ARE KNITTERS, Woolloomooloo Shoe, Woolcool, KNAUF INSULATION LIMITED, The North Face, Tanvas, Toyobo, Passoni, Taft, SAINT-GOBAIN FINLAND OY, Eden Renewable Innovations, COOL WOOL EHF, H. DAWSON SONS AND, MoistTech Corporation, Wool Overs

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. GLOBAL PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY

  8. 8. GLOBAL IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. GLOBAL EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. 11. COUNTRY PROFILES

    The Largest Markets And Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
    • United States
    • China
    • Japan
    • Germany
    • United Kingdom
    • France
    • Brazil
    • Italy
    • Russian Federation
    • India
    • Canada
    • Australia
    • Republic of Korea
    • Spain
    • Mexico
    • Indonesia
    • Netherlands
    • Turkey
    • Saudi Arabia
    • Switzerland
    • Sweden
    • Nigeria
    • Poland
    • Belgium
    • Argentina
    • Norway
    • Austria
    • Thailand
    • United Arab Emirates
    • Colombia
    • Denmark
    • South Africa
    • Malaysia
    • Israel
    • Singapore
    • Egypt
    • Philippines
    • Finland
    • Chile
    • Ireland
    • Pakistan
    • Greece
    • Portugal
    • Kazakhstan
    • Algeria
    • Czech Republic
    • Qatar
    • Peru
    • Romania
    • Vietnam

  12. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption, By Country, 2018–2023
    5. Production, In Physical Terms, By Country, 2012–2023
    6. Imports, In Physical Terms, By Country, 2012–2023
    7. Imports, In Value Terms, By Country, 2012–2023
    8. Import Prices, By Country Of Destination, 2012–2023
    9. Exports, In Physical Terms, By Country, 2012–2023
    10. Exports, In Value Terms, By Country, 2012–2023
    11. Export Prices, By Country Of Origin, 2012–2023

  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Consumption, By Country, 2023
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2023
    18. Production, In Value Terms, 2012–2023
    19. Production, By Country, 2023
    20. Production, In Physical Terms, By Country, 2012–2023
    21. Imports, In Physical Terms, 2012–2023
    22. Imports, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, By Country, 2023
    24. Imports, In Physical Terms, By Country, 2012–2023
    25. Imports, In Value Terms, By Country, 2012–2023
    26. Import Prices, By Country, 2012–2023
    27. Exports, In Physical Terms, 2012–2023
    28. Exports, In Value Terms, 2012–2023
    29. Exports, In Physical Terms, By Country, 2023
    30. Exports, In Physical Terms, By Country, 2012–2023
    31. Exports, In Value Terms, By Country, 2012–2023
    32. Export Prices, 2012–2023

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