Australia Wool Market Report and Forecast 2024-2032

Australia Wool Market Outlook

The Australia wool market size reached USD 1.90 billion in 2023. The market is expected to grow at a CAGR of 2.55% between 2024 and 2032, reaching almost USD 2.36 billion by 2032.

Key Takeaways:

• As per the Australian Fashion Council, in 2021, number of clothing retail businesses operating across the country reached 24,333.

• According to DAWE, in 2021, the annual average purchase of textile remains approximately 27 Kg, which is double of the global average.

• Further, per capita consumption of clothing reached 14.8 Kg, which was approximately 56 new items per person in a year.

Evolving fashion choices and reduced environmental impact offered by wool is expected to drive the growth of Australia wool market

The environmental and social effects of customer fashion choices, such as carbon emissions, water consumption, trash creation, labour rights, and animal welfare, are becoming increasingly evident to consumers. Customers are thus looking for firms that are honest, ethical, and eco-friendly and that provide items manufactured from organic, recycled, or biodegradable materials. Companies that adhere to fair trade principles and employ sustainable energy sources are preferred. Since wool fibre decomposes easily in soil and gradually releases essential nutrients and carbon back into the ground, functioning as a fertilizer, it is a more sustainable and demanding resource than synthetic fibres, which denotes the surge in demand for Australia wool market.

Additionally, less garment care is another highly influential factor in reducing a garment’s environmental impact. Because wool is resistant to odour, stains and wrinkles, it requires less laundering over its lifetime, which support its demand among customers.

According to Australian Fashion Council estimates, during 2018 and 2019, Australians purchased 383,000 tons of new apparel, or around 56 pieces per person. Moreover, 210,000 tons of garments are recycled or given every year.

Furthermore, four-fifth of the wool used in superfine clothing is produced in Australia, making it the world's top producer of Merino wool, according to the Woolmark Company.

Market Segmentation

Australia Wool Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Mohair

• Angora

• Cashmere

• Shetland

• Merino

• Others

Market Breakup by Source

• Sheep

• Yak

• Camel

• Goats

• Alpacas

• Others

Market Breakup by Application

• Apparels

• Interior Textiles

Market Breakup by Region

• New South Wales

• Victoria

• Queensland

• Australian Capital Territory

• Western Australia

• Others

The Australia wool market key players are Bendigo Woollen Mills Pty Ltd., Nundle Woollen Mill Pty Ltd., AJ & PA McBride Ltd., Swiss Australian Farm Holding Pty Ltd., Jumbuck Pastoral, and T.A. Field Estates Pty Limited, among others.

Key Highlights of the Report