The report is titled as ‘Wool Market: Opportunity Analysis and Future Assessment 2020-2028’. An overview of conceptual frameworks, analytical approaches of the wool market is the main objective of the report, which further consists of the market opportunity and insights of the data involved in the making of the respective market. The wool market is expected to grow at a significant rate in the near future.
The wool market size was valued at US$ 34.5 Bn in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 3.4% from 2020 to 2028.
Wool Market Definition
Wool, the outermost fibrous skin layer from sheep, is one of the most essential animal fibers utilized by the textile industry. Wool has served constantly for several millions of years for several different applications, felt being the foremost fabric made from the wool. Although the growing use of synthetic fibers in the current times has relatively diminished the importance of wool as a textile, wool remains as crucial as it is, in some sectors of the global markets.
The market diversity of wool is ever-evolving and vast as well as it is a worldwide traded commodity, across different industries such as sports/athletic and leisure wear, fashion and apparel, upholstery, flooring, and other interior textiles, the aviation and automotive industries. The wool industry is going through some considerable changes, which is expected to rejuvenate the global wool market over the coming years.
Wool Market Dynamics
Time and trends have the strange tendency to repeat itself. Same is the case with the wool industry that has been undergoing significant revolution over the last few years, as technological improvements in knitting and enhancements in fabric textures quality persist to articulate a fresh swing of aesthetic appreciation. But more essentially, one of the leading factors that is offering real growth opportunities for the wool industry is the changing lifestyle as well as purchasing behaviour of the consumers, especially the millennial consumers, across the world, consisting of preference for authenticity, quality, and transparency are attributes innate to wool. Owing to which, the global wool market is projected to rejuvenate rapidly in the years to come.
However, it is important to note that the production of wool and manufacturing of commodities comprising wool has reduced exponentially over the last few years due to the brisk advent and adoption of other synthetic fibres in the global markets as well as the arrival of less costly options has also affected the growth of the wool market.
Nevertheless, the growing number of consumers with altered lifestyle and buying preferences and willing to try new aesthetic products in conjunction with elevated disposable income is further expected to accelerate the growth of the global wool market in the forthcoming future.
In addition to that, there are many major players in the market who are aiming all their attention on how to leverage the existing attributes of the products and how to capitalize on the new demand, which is also expected to positively fuel the growth of the global wool market over the forecast period.
Moreover, merino wool – a natural fiber acquired from merino sheep – is appearing as a vital fabric for sportswear, athletic wear and even shoes, which in turn is resulting in higher investments and innovation are directed towards this specific source of wool. Furthermore, there is a rising trend among masses towards sporting athletic wear outside of gym, which is anticipated to propel the growth of the global wool market in the coming years.
Wool Market Segmentation
The global wool market is segmented on the basis of source, type, application and regions. On the basis of source, the wool market is segmented into Merino wool, Peruvian Highland wool, Teeswater wool, Shetland wool, Cashmere wool, and others. On the basis of type, the market is categorized into fine wool, medium wool, and coarse wool. Furthermore, the market is categorized on the basis of application into apparels, interior textiles, and floorings.
By Source
Merino Wool
Peruvian Highland Wool
Teeswater Wool
Shetland Wool
Cashmere Wool
Others
By Type
Fine Wool
Medium Wool
Coarse Wool
By Application
Apparels
Interior Textiles
Floorings
By Region
North America
Latin America
Africa
Europe
Asia Pacific
Middle East
Wool Market Key Players
The global wool market is dominated by The Woolmark Company, Spykar Hometex, Minwool Rock Fibres Ltd., Milan Fabrics SRL, Top Mind SRL, Lanificio Botto Giuseppe & Figli SPA, Tessitura Monti SPA, Jindal Spinning Mills Ltd., Rock Wool Manufacturing Company, Kentwool Co. among others.
MMC Overview on Wool Market Report
The non-identical approach of Meridian Market Consultants stands with conceptual methods backed up with the data analysis. The novel market understanding approach makes up the standard of the assessment results that give a better opportunity for the customers to put their effort.
A research report on the wool market by Meridian Market Consultants is an in-depth and extensive study of the market based on the necessary data crunching and statistical analysis. It provides a brief view of the dynamics flowing through the market, which includes the factors that support the market and the factors that are acting as impedance for the growth of the market.
Furthermore, the report includes the various trends and opportunities in the respective market in different regions for a better understanding of readers that helps to analyze the potential of the market.
Factors that are benchmarked while estimating the market
Various factors that are benchmarked while estimating the market growth includes (but not restricted to):
New product designs and launches
Current product compliance
Reimbursement
Concerns for use of wool
Advantages of wool
Actions taken by the manufacturer and respective regulatory authorities also impact the market growth of the segment. These factors are understood at regional level and in major countries globally for providing regional insights of the product segment in the report. This helps our clients to make informed decisions.
A mix of top-down and bottom-up approach is followed to arrive and validate our market value estimations. For a product segment like wherein one/two manufacturer(s) dominates the market, it’s products sales, previous growth rates and market expansion plans are considered to generate market share in the global market.
1. Global Wool Market Report Overview
1.1. Introduction
1.2. Report Description
1.3. Methodology
2. Global Wool Market Overview
2.1. Introduction
2.1.1. Market Definition
2.1.2. Market Taxonomy
2.2. Executive Summary
2.3. Global Wool Market Snapshot
2.4. Global Wool Market Size And Forecast, 2020–2028
2.4.1. Introduction
2.4.2. Market Value Forecast And Annual Growth Rate (AGR) Comparison (2020–2028)
2.5. Global Wool Market Dynamics
2.5.1. Drivers
2.5.2. Restraints
2.5.3. Opportunity
2.5.4. Trends
2.6. Porter’s Five Forces Model
2.7. SWOT Analysis
3. Wool Assessment and Analysis
3.1. Wool Impact Analysis
3.2. Actions to encourage use of Wool
3.3. Wool Promotional Strategy Recommendation
3.4. Road Map Analysis
3.5. GAP Analysis
3.6. Potential Analysis
4. Covid-19 Impact on Wool Market
4.1. Impact Analysis of Covid-19 on the global Wool market
4.2. Effect On Value Chain
4.3. Business Impact W.R.T Revenue
4.4. Fluctuation in Production
4.5. Volatility In Price
4.6. Effect On The Overall Trade
4.7. Market Impact Analysis In 2020 (Quarter Wise)
5. Global Wool Market, By Source
5.1. Introduction
5.1.1. Annual Growth Rate Comparison, By Source
5.1.2. BPS Analysis, By Product & Source
5.2. Market Revenue (US$Mn) and Forecast, By Source
5.2.1. Merino Wool
5.2.2. Peruvian Highland Wool
5.2.3. Teeswater Wool
5.2.4. Shetland Wool
5.2.5. Cashmere Wool
5.2.6. Others
5.3. Global Wool Market Attractiveness Index, By Source
6. Global Wool Market, By Type
6.1. Introduction
6.1.1. Annual Growth Rate Comparison, By Type
6.1.2. BPS Analysis, By Type
6.2. Market Revenue (US$Mn) and Forecast, By Type
6.2.1. Fine Wool
6.2.2. Medium Wool
6.2.3. Coarse Wool
6.3. Global Wool Market Attractiveness Index, By Type
7. Global Wool Market, By Application
7.1. Introduction
7.1.1. Annual Growth Rate Comparison, By Application
7.1.2. BPS Analysis, By Application
7.2. Market Revenue (US$Mn) and Forecast, By Application
7.2.1. Apparels
7.2.2. Interior Textiles
7.2.3. Floorings
7.3. Global Wool Market Attractiveness Index, By Application
8. Global Wool Market, By Region
8.1. Introduction
8.1.1. Annual Growth Rate Comparison, By Region
8.1.2. BPS Analysis, By Region
8.2. Market Revenue (US$Mn) and Forecast, By Region
8.2.1. North America
8.2.2. Latin America
8.2.3. Europe
8.2.4. Asia Pacific
8.2.5. Middle East
8.2.6. Africa
8.3. Global Wool Market Attractiveness Index, By Region
9. North America Wool Market Analysis and Forecast, 2020–2028
9.1. Introduction
9.1.1. Annual Growth Rate Comparison, By Country
9.1.2. BPS Analysis, By Country
9.2. Market Revenue (US$Mn) and Forecast, By Country
9.2.1. U.S. Wool Market
9.2.2. Canada Wool Market
9.3. North America Wool Market, By Source
9.3.1. Merino Wool
9.3.2. Peruvian Highland Wool
9.3.3. Teeswater Wool
9.3.4. Shetland Wool
9.3.5. Cashmere Wool
9.3.6. Others
9.4. North America Wool Market Revenue (US$Mn) and Forecast, By Type
9.4.1. Fine Wool
9.4.2. Medium Wool
9.4.3. Coarse Wool
9.5. North America Wool Market Revenue (US$Mn) and Forecast, By Application
9.5.1. Apparels
9.5.2. Interior Textiles
9.5.3. Floorings
9.6. North America Wool Market Attractiveness Index
9.6.1. By Country
9.6.2. By Source
9.6.3. By Type
9.6.4. By Application
10. Latin America Wool Market Analysis and Forecast, 2020–2028
10.1. Introduction
10.1.1. Annual Growth Rate Comparison, By Country
10.1.2. BPS Analysis, By Country
10.2. Market (US$Mn) Forecast, By Country
10.2.1. Brazil Wool Market
10.2.2. Mexico Wool Market
10.2.3. Rest Of Latin America Wool Market
10.3. Latin America Wool Market, By Source
10.3.1. Merino Wool
10.3.2. Peruvian Highland Wool
10.3.3. Teeswater Wool
10.3.4. Shetland Wool
10.3.5. Cashmere Wool
10.3.6. Others
10.4. Latin America Wool Market Revenue (US$Mn) and Forecast, By Type
10.4.1. Fine Wool
10.4.2. Medium Wool
10.4.3. Coarse Wool
10.5. Latin America Wool Market Revenue (US$Mn) and Forecast, By Application
10.5.1. Apparels
10.5.2. Interior Textiles
10.5.3. Floorings
10.6. Latin America Wool Market Attractiveness Index
10.6.1. By Country
10.6.2. By Source
10.6.3. By Type
10.6.4. By Application
11. Europe Wool Market Analysis and Forecast, 2020–2028
11.1. Introduction
11.1.1. Annual Growth Rate Comparison, By Country
11.1.2. BPS Analysis, By Country
11.2. Market (US$Mn) Forecast, By Country
11.2.1. U.K. Wool Market
11.2.2. Germany Wool Market
11.2.3. Italy Wool Market
11.2.4. France Wool Market
11.2.5. Spain Wool Market
11.2.6. Russia Wool Market
11.2.7. Rest Of Europe Wool Market
11.3. Europe Wool Market, By Source
11.3.1. Merino Wool
11.3.2. Peruvian Highland Wool
11.3.3. Teeswater Wool
11.3.4. Shetland Wool
11.3.5. Cashmere Wool
11.3.6. Others
11.4. Europe Wool Market Revenue (US$Mn) and Forecast, By Type
11.4.1. Fine Wool
11.4.2. Medium Wool
11.4.3. Coarse Wool
11.5. Europe Wool Market Revenue (US$Mn) and Forecast, By Application
11.5.1. Apparels
11.5.2. Interior Textiles
11.5.3. Floorings
11.6. Europe Wool Market Attractiveness Index
11.6.1. By Country
11.6.2. By Source
11.6.3. By Type
11.6.4. By Application
12. Asia Pacific Wool Market Analysis and Forecast, 2020–2028
12.1. Introduction
12.1.1. Annual Growth Rate Comparison, By Country
12.1.2. BPS Analysis, By Country
12.2. Market (US$Mn) Forecast, By Country
12.2.1. China Wool Market
12.2.2. India Wool Market
12.2.3. Japan Wool Market
12.2.4. Australia and New Zealand Wool Market
12.2.5. South Korea Wool Market
12.2.6. Rest of Asia Pacific Wool Market
12.3. Asia Pacific Wool Market, By Source
12.3.1. Merino Wool
12.3.2. Peruvian Highland Wool
12.3.3. Teeswater Wool
12.3.4. Shetland Wool
12.3.5. Cashmere Wool
12.3.6. Others
12.4. Asia Pacific Wool Market Revenue (US$Mn) and Forecast, By Type
12.4.1. Fine Wool
12.4.2. Medium Wool
12.4.3. Coarse Wool
12.5. Asia Pacific Wool Market Revenue (US$Mn) and Forecast, By Application
12.5.1. Apparels
12.5.2. Interior Textiles
12.5.3. Floorings
12.6. Asia Pacific Wool Market Attractiveness Index
12.6.1. By Country
12.6.2. By Source
12.6.3. By Type
12.6.4. By Application
13. Middle East Wool Market Analysis and Forecast, 2020–2028
13.1. Introduction
13.1.1. Annual Growth Rate Comparison, By Country
13.1.2. BPS Analysis, By Country
13.2. Market (US$Mn) Forecast, By Country
13.2.1. GCC Countries Wool Market
13.2.2. Israel Wool Market
13.2.3. Rest Of Middle East Wool Market
13.3. Middle East Wool Market, By Source
13.3.1. Merino Wool
13.3.2. Peruvian Highland Wool
13.3.3. Teeswater Wool
13.3.4. Shetland Wool
13.3.5. Cashmere Wool
13.3.6. Others
13.4. Middle East Wool Market Revenue (US$Mn) and Forecast, By Type
13.4.1. Fine Wool
13.4.2. Medium Wool
13.4.3. Coarse Wool
13.5. Middle East Wool Market Revenue (US$Mn) and Forecast, By Application
13.5.1. Apparels
13.5.2. Interior Textiles
13.5.3. Floorings
13.6. Middle East Wool Market Attractiveness Index
13.6.1. By Country
13.6.2. By Source
13.6.3. By Type
13.6.4. By Application
14. Africa Wool Market Analysis and Forecast, 2020–2028
14.1. Introduction
14.1.1. Annual Growth Rate Comparison, By Country
14.1.2. BPS Analysis, By Country
14.2. Market (US$Mn) Forecast, By Country
14.2.1. South Africa Countries Wool Market
14.2.2. Egypt Wool Market
14.2.3. North Africa Wool Market
14.2.4. Rest of Africa Wool Market
14.3. Africa Wool Market, By Source
14.3.1. Merino Wool
14.3.2. Peruvian Highland Wool
14.3.3. Teeswater Wool
14.3.4. Shetland Wool
14.3.5. Cashmere Wool
14.3.6. Others
14.4. Africa Wool Market Revenue (US$Mn) and Forecast, By Type
14.4.1. Fine Wool
14.4.2. Medium Wool
14.4.3. Coarse Wool
14.5. Africa Wool Market Revenue (US$Mn) and Forecast, By Application
14.5.1. Apparels
14.5.2. Interior Textiles
14.5.3. Floorings
14.6. Africa Wool Market Attractiveness Index
14.6.1. By Country
14.6.2. By Source
14.6.3. By Type
14.6.4. By Application
15. Competitive Landscape
15.1. Company Profiles
15.1.1. The Woolmark Company
15.1.1.1. Company Overview
15.1.1.2. Financial Overview
15.1.1.3. Key Developments
15.1.1.4. Strategies
15.1.1.5. Product Analysis
15.1.2. Spykar Hometex
15.1.3. Minwool Rock Fibres Ltd.
15.1.4. Milan Fabrics SRL
15.1.5. Top Mind SRL
15.1.6. Lanificio Botto Giuseppe & Figli SPA
15.1.7. Tessitura Monti SPA
15.1.8. Jindal Spinning Mills Ltd.
15.1.9. Rock Wool Manufacturing Company
15.1.10. Kentwool Co.
16. Acronyms
Frequently Asked Questions
What is the projected market size & Compound Annual Growth Rate (CAGR) of the market?
The wool market size was valued at US$ 34.5 Bn in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 3.4% from 2020 to 2028
What are the key factors driving the growth of market?
Technological improvements in knitting and enhancements in fabric textures quality persist to articulate a fresh swing of aesthetic appreciation and changing lifestyle as well as purchasing behaviour of the consumers, especially the millennial consumers are the key factors driving the growth of market
What segments are covered in market report?
The global wool market is segmented on the basis of source, type, application and regions
What are the key participating players in the market?
The Woolmark Company, Spykar Hometex, Minwool Rock Fibres Ltd., Milan Fabrics SRL, Top Mind SRL, Lanificio Botto Giuseppe & Figli SPA, Tessitura Monti SPA, Jindal Spinning Mills Ltd., Rock Wool Manufacturing Company, Kentwool Co are the key participating players in the market
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