The global wool yarn market is set to expand at a CAGR of 3.4 per cent from 2024-34 to reach a value of $8.05 billion by 2034.

As per a report by FactMR, East Asia is forecasted to dominate the market, holding a 38.4 per cent share by 2034, with Japan accounting for 28.8 per cent of this share. The South Korea market is expected to grow at a CAGR of 5.6 per cent during this forecast period. China is also projected to be a major player in the East Asian wool yarn market, commanding 57.3 per cent of the regional share by 2034.

Wool's excellent thermal insulation properties drive increased sales of woolen clothing during winter. Additionally, wool's natural and antimicrobial qualities make it a preferred choice for individuals in fast-paced environments where the skin may be prone to microbial infections. The durability, resilience, and resistance to compression of wool yarn make it a popular choice among consumers seeking sturdy and long-lasting garments.

The expansion of the wool yarn market is also fueled by rising demand for high-quality wool, growth in the women's wear segment, and the emergence of consumer markets in developing countries. In particular, the upholstery segment is expected to grow steadily at a CAGR of 3.8 per cent from 2024-34, reflecting the increasing demand for wool yarn in various textile applications. This growth underscores the continued importance of wool yarn in the global textile industry, driven by its versatility and durability.

In the moderately fragmented wool yarn industry, major players hold a significant portion of global revenue. Emerging players occupy the remaining market share. With growing demand for worsted wool yarn, key market players are investing heavily in this segment through partnerships and acquisitions, especially in Europe and East Asia. For instance, in October 2018, Indorama Ventures (IVL) acquired the worsted wool yarn business of Schoeller Group through its subsidiary, Glanzstoff Management GmbH. Metakeys: FactMR

By Fashionating World
https://www.fashionatingworld.com/new1-2/global-wool-market-to-expand-at-3-4-cagr-from-2024-34-factmr