Global Merino Wool Market Growth Analysis - Forecast Trends and Outlook (2024-2032)

Global Merino Wool Market Size

The global merino wool industry reached a production volume of about 304 KMT in 2023. The market is projected to grow at a CAGR of 0.4% between 2024 and 2032, reaching a volume of 311.68 KMT by 2032.

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Rising Demand in the Wool Industry Supporting the Merino Wool Market

The growth of the merino wool is primarily driven by the rising demand from the wool consuming countries. Australia and China are among the leading producers of merino wool. The economic growth in countries including China, Germany, Japan, France, Italy, the United States, United Kingdom, and Korea has been supporting the growth of the wool industry. The growing economies of these countries has resulted in an increased disposable income of the consumers, propelling the merino wool industry. Since the sustainability of the wool and textile industries has led to a large number of quick fashion clothing ending up in landfills due to short lifespans, it is expected that merino wool will be increasingly valued by discerning consumers. In addition, despite the addition of other natural fibres, such as cotton and silk, to the efficiency and sustainability sectors, the anti-odour benefits of merino wool would continue to boost the market growth.

Merino Wool Market Segmentation

Merino wool is unique because it absorbs the scent of bacteria, absorbing their smell, and preventing them from building up. This ensures that merino wool-odour resistant garments could be worn for longer without having to think about smelling. Among the most significant characteristics of merino wool is its resilience or endurance. It is also excellent at controlling body temperature, particularly when worn against the skin, due to its high crimp count. Moisture is wicked away from the body; the consumer stays warm and not too hot.

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Based on type, the industry can be divided into:

• Worsted 
• Woollen

On the basis of weave, the market can be categorised as follows:

• Plain Weave
  • Tropical Wool
  • High-twist Wool
  • Hopsack
• Twill
  • Serge
  • Worsted Flannel
  • Prunelle
  • Herringbone
  • Cavalry Twill
  • Others

It finds wide applications in the following:

• Woven
• Knits

The end-use for merino wool can be categorised as follows:

• Apparel
• Innerwear
• Socks 
• Home Textile
• Other Accessories

The regional markets for merino wool can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Clothing Industry Bolstering the Market Growth

The growth of the industry is primarily being driven by the ever-rising clothing industry, especially wool industry. The clothing industry is also getting a boost due to the rising trend of online shopping among consumers due to the rising internet penetration, the availability of huge variety at good prices, along with the convenience. The growing economy of the regions also contribute significantly to the growth of the industry. Merino wool is highly demanded among consumers due to its premium quality, sustainability, and warmth. Other factors driving the growth of the industry include the rising population and the increasing disposable incomes of the consumers.

Key Industry Players in the Merino Wool Industry

The report gives a detailed analysis of the following key players in the global merino wool market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Südwolle Group
• Brown Sheep Company, Inc.
• Indorama Ventures Public Company Limited
• Europa Wools Ltd.
• Xinao textiles inc.
• Yünsa A.S.
• Laxtons Limited
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report

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Merino Wool Market Report Snapshots

Merino Wool Market Size

Merino Wool Market Growth

Merino Wool Companies