The Wool Global Market Report 2023, provides comprehensive information on the wool market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Wool Global Market Report 2023, the global wool market size 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 global wool market size is expected to reach $45.05 billion in 2027 at a CAGR of 3.8%.
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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.
The wool market 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
Asia-Pacific was the largest region in the wool market in 2022.
The table of contents in TBRC’s wool market report includes:
1. Executive Summary
2. Wool Market Characteristics
3. Wool Market Trends And Strategies
4. Wool Market – Macro Economic Scenario
5. Wool Market Size And Growth
…
27. Wool Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Wool Market
29. Wool Market Future Outlook and Potential Analysis
30. Appendix
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