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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
The Regional Outlook of the Overall Asia Pacific Market
The Asia Pacific region is expected to lead the market during the forecast period. This can be attributed to the developing economy of nations like India and China, which are also the most populous countries.
The rising industrialisation and urbanisation among the growing middle-class population indicate the increased spending power of people. These factors are key factors for market expansion.
Moreover, China, India, and Japan are some of the top importers of merino wool, while China also has a large market share in exporting merino wool.
Australia is the largest producer of merino wool, owing to a large number of sheep farmers. But, due to the fluctuating prices of sheep wool, meat, and other products, the development has been weak in the past few years.
China Merino Wool Market Report Snapshots
China Merino Wool Market Trend
China Merino Wool Market Analysis
China Merino Wool Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market for merino wool attained a size of nearly KMT 22.56.
The market is expected to expand at a CAGR of 0.8% in 2024 and 2032.
The market is estimated to experience steady growth to reach KMT 24.14 by 2032.
The increasing spending power among the middle-class population and the rapidly developing clothing industry are the key driving factors in the market.
Increasing demand for sustainable clothing with the rising environmental awareness of people is the major trend followed in the market.
The major regions in the industry are North America, the Asia Pacific, Europe, Africa, Latin America, and the Middle East.
The types in the market include worsted and woollen.
Plain and twill are the different price categories available in the market.
The different applications in the market include woven and knit.
The end-users in the market include apparel and home textile.
The major players in the industry include MERINOTEX, Jiangsu Unitex Co., Ltd., Shanghai Solarwool Apparel Co., Ltd, and Zhangjiagang Shepherd Inc., among others.
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