Wool Price in the United States - 2023. Find the latest marketing data on the IndexBox platform.

The Wool Market Report is Segmented by Geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa). The Report Includes Production Analysis (Volume), Consumption Analysis (Value and Volume), Export Analysis (Value and Volume), Import Analysis (Value and Volume), and Price Trend Analysis. The Report Offers the Market Size and Forecasts in Terms of Volume (metric Tons) and Value (USD) for all the Above Segments.

In 2024, the Australian wool market increased by 29% to $73M, rising for the third consecutive year after three years of decline. Overall, consumption, however, recorded a mild slump. Over the period under review, the market hit record highs at $89M in 2013; however, from 2014 to 2024, consumption stood at a somewhat lower figure.

The Kenyan wool market fell to $2.5M in 2024, shrinking by -4.7% against the previous year. In general, consumption showed a deep reduction. Wool consumption peaked at $10M in 2014; however, from 2015 to 2024, consumption stood at a somewhat lower figure.

According to Cognitive Market Research, the global Pure Wool market size will be USD 28614.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 6.00% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 11445.80 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.2% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 8584.35 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 6581.34 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.0% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 1430.73 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.4% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 572.29 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.7% from 2024 to 2031.
The woven application is the dominant segment due to its extensive use in textiles like clothing, upholstery, and carpets

Market Dynamics of Pure Wool Market

Key Drivers for Pure Wool Market

Increasing Demand for Sustainable and Eco-friendly Textiles to Boost Market Growth

As consumers become more environmentally conscious, there is a growing preference for sustainable materials, including pure wool. Wool is biodegradable, renewable, and requires fewer resources to produce compared to synthetic alternatives. This increasing demand for eco-friendly products is driving the market for pure wool, particularly in sectors like fashion, home textiles, and interior design. Consumers are seeking products that align with their environmental values, thus elevating the demand for wool-based goods and pushing companies to innovate sustainable wool offerings. For instance, in November 2022, Savio announced the launch of a new automatic winding machine, Proxima Smartconer, in the Indian market. Such innovations are projected to increase productivity

(Source:https://saviospa.com/en/machines/proxima-smartconer-r)

Rising Popularity of Premium and Luxury Wool Products to Drive Market Growth

There is a notable rise in the consumption of premium and luxury wool products, particularly in fashion and high-end home furnishings. Pure wool, known for its softness, durability, and breathability, is increasingly preferred for high-quality garments, such as suits, sweaters, and blankets. Additionally, the growing demand for wool in the automotive and interior design sectors, where it is used for upholstery and high-end textiles, further strengthens the market. This trend is not only expanding wool’s market reach but also increasing its perceived value as a luxury material.

Restraint Factor for the Pure Wool Market

High Production and Processing Costs, will Limit Market Growth

The production of pure wool involves significant costs, from breeding and shearing sheep to the complex processing of wool fibers. These processes require skilled labor, specialized equipment, and extensive land resources, which contribute to high operational costs. Additionally, the high cost of transporting raw wool from farms to manufacturing facilities further drives up expenses. These elevated costs make pure wool products more expensive compared to synthetic or blended fibers, limiting their accessibility for price-sensitive consumers. This challenge can hinder market growth, particularly in regions where affordability is a major factor in textile choices.

Impact of Covid-19 on the Pure Wool Market

Covid-19 pandemic had a significant impact on the Pure Wool Market, disrupting both supply chains and consumer demand. During the initial phases of the pandemic, manufacturing facilities faced temporary closures, and logistical challenges arose due to restricted transportation and labor shortages. These disruptions resulted in delayed production and increased operational costs. On the demand side, economic uncertainty led to reduced consumer spending, particularly on luxury goods such as high-quality wool products. However, as the world adapted to new consumer behaviors, there was a renewed focus on sustainable and comfortable home textiles, which benefited the wool market, especiall...

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In June 2022, the wool price per tonamounted to $5,184 per ton, with a decrease of -12.7% against the previous month.

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The German wool market stood at $47M in 2024, growing by 2.7% against the previous year. Overall, consumption, however, continues to indicate a pronounced decline. As a result, consumption attained the peak level of $100M. From 2014 to 2024, the growth of the market failed to regain momentum.

The Peruvian wool market rose slightly to $7.1M in 2024, picking up by 2.2% against the previous year. In general, consumption, however, recorded a abrupt setback. Over the period under review, the market reached the peak level at $17M in 2012; however, from 2013 to 2024, consumption remained at a lower figure.

In January 2023, the wool price amounted to $3,740 per ton (CIF, Germany), surging by 20% against the previous month.

In 2023, the glass fibres and wool market in Australia and Oceania increased by 5.3% to $101M, rising for the third year in a row after three years of decline. The total consumption indicated a moderate increase from 2012 to 2023: its value increased at an average annual rate of +4.9% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by +61.1% against 2020 indices.

In May 2023, the Wool price in Australia reached $7,799 per ton (FOB), showing a decrease of -6.4% compared to the previous month.

The global wool market contracted to $1.9B in 2024, waning by -3.1% against the previous year. In general, consumption recorded a abrupt slump. The pace of growth was the most pronounced in 2016 with an increase of 3.1%. Global consumption peaked at $3.7B in 2012; however, from 2013 to 2024, consumption stood at a somewhat lower figure.

The South African wool market expanded notably to $12M in 2024, increasing by 5.7% against the previous year. Overall, consumption recorded a abrupt curtailment. Over the period under review, the market reached the peak level at $30M in 2012; however, from 2013 to 2024, consumption remained at a lower figure.

The Sri Lankan wool market totaled $5.1M in 2024, surging by 5.2% against the previous year. Overall, consumption continues to indicate a abrupt shrinkage. Over the period under review, the market attained the peak level at $13M in 2012; however, from 2013 to 2024, consumption stood at a somewhat lower figure.