United Kingdom - Wool - Market Analysis, Forecast, Size, Trends And Insights
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View PricingWool Price in the UK - 2023
Contents:
- Wool Price in the UK (CIF) - 2023
- Wool Price in the UK (FOB) - 2023
- Wool Imports in the UK
- Wool Exports in the UK
Wool Price in the UK (CIF) - 2023
The average wool import price stood at $1,931 per ton in August 2023, falling by -1.8% against the previous month. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in April 2023 when the average import price increased by 15% against the previous month. As a result, import price reached the peak level of $2,762 per ton. From May 2023 to August 2023, the average import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In August 2023, the country with the highest price was Australia ($6,413 per ton), while the price for Pakistan ($641 per ton) was amongst the lowest.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by Syrian Arab Republic (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Wool Price in the UK (FOB) - 2023
In August 2023, the average wool export price amounted to $2,505 per ton, shrinking by -8.8% against the previous month. Overall, the export price, however, showed mild growth. The pace of growth was the most pronounced in November 2022 an increase of 22% m-o-m. The export price peaked at $2,746 per ton in July 2023, and then reduced in the following month.
There were significant differences in the average prices for the major foreign markets. In August 2023, the country with the highest price was Poland ($3,011 per ton), while the average price for exports to China ($1,583 per ton) was amongst the lowest.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+1.3%), while the prices for the other major destinations experienced more modest paces of growth.
Wool Imports in the UK
Wool imports into the UK dropped significantly to 13K tons in 2022, waning by -21.6% against 2021. Overall, imports saw a abrupt slump. The pace of growth was the most pronounced in 2021 with an increase of 28% against the previous year.
In value terms, wool imports shrank significantly to $33M in 2022. Over the period under review, imports faced a abrupt curtailment. The most prominent rate of growth was recorded in 2021 with an increase of 33% against the previous year.
Import of Wool in the UK (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
New Zealand | 28.8 | 17.9 | 22.7 | 16.3 | -17.3% |
Australia | 11.2 | 5.4 | 7.8 | 7.0 | -14.5% |
Turkey | 3.1 | 1.5 | 3.1 | 2.7 | -4.5% |
China | 6.5 | 3.0 | 3.0 | 2.5 | -27.3% |
Spain | 0.6 | 0.6 | 1.0 | 0.9 | 14.5% |
Libya | 0.3 | 0.1 | 0.2 | 0.6 | 26.0% |
Syrian Arab Republic | 2.3 | 0.9 | 0.6 | 0.3 | -49.3% |
Kuwait | 0.8 | 0.3 | 0.4 | 0.2 | -37.0% |
Others | 5.2 | 1.9 | 3.0 | 2.5 | -21.7% |
Total | 58.8 | 31.5 | 41.8 | 33.1 | -17.4% |
Top Suppliers of Wool to the UK in 2022:
- New Zealand (5.6K tons)
- Turkey (2.6K tons)
- China (1.4K tons)
- Australia (1.0K tons)
- Libya (0.7K tons)
- Syrian Arab Republic (0.4K tons)
- Spain (0.4K tons)
- Kuwait (0.2K tons)
Wool Exports in the UK
In 2022, approx. 17K tons of wool were exported from the UK; picking up by 13% against 2021. Overall, exports, however, showed a perceptible shrinkage.
In value terms, wool exports expanded remarkably to $40M in 2022. Over the period under review, exports, however, continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2021 with an increase of 11% against the previous year.
Export of Wool in the UK (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Lithuania | 14.9 | 13.0 | 9.0 | 8.9 | -15.8% |
China | 13.4 | 5.7 | 6.1 | 6.6 | -21.0% |
India | 1.4 | 1.0 | 2.1 | 4.3 | 45.4% |
Italy | 5.1 | 3.2 | 5.0 | 3.1 | -15.3% |
Poland | 2.2 | 2.0 | 3.5 | 2.7 | 7.1% |
Thailand | 0.4 | 0.4 | 0.4 | 1.4 | 51.8% |
Japan | 0.4 | 0.3 | 0.4 | 1.2 | 44.2% |
United States | 0.1 | 0.2 | 0.9 | 1.2 | 128.9% |
Portugal | 1.2 | 1.3 | 0.9 | 1.0 | -5.9% |
Belgium | 1.7 | 1.4 | 1.4 | 0.8 | -22.2% |
Egypt | 0.7 | 0.4 | 0.3 | 0.7 | 0.0% |
Germany | 0.9 | 1.0 | 1.1 | 0.7 | -8.0% |
Spain | 0.8 | 0.6 | 0.4 | 0.5 | -14.5% |
Others | 4.4 | 3.8 | 6.7 | 7.4 | 18.9% |
Total | 47.7 | 34.3 | 38.1 | 40.5 | -5.3% |
Top Export Markets for Wool from the UK in 2022:
- Lithuania (4.3K tons)
- China (4.1K tons)
- India (1.8K tons)
- Poland (1.0K tons)
- Italy (0.8K tons)
- Thailand (0.6K tons)
- Portugal (0.4K tons)
- Egypt (0.4K tons)
- Belgium (0.4K tons)
- Japan (0.3K tons)
- United States (0.3K tons)
- Germany (0.2K tons)
- Spain (0.2K tons)
This report provides an in-depth analysis of the wool market in the UK. 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:
- United Kingdom
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the UK
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
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:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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