Global woolen textiles market to grow to $236.28 billion by 2032: Study

A new report by Archive Market Research reveals, the global woolen textiles market valued at $174.79 billion in 2023, is projected to reach $236.28 billion by 2032, growing at a CAGR of 4.4 per cent. Growth is being driven by increasing consumer demand for sustainable and high-quality products which has given a boost to woollen garments popularity.

Woolen textiles, made from wool obtained from sheep, are renowned for their softness, durability, and insulation properties. They are used in a wide range of products, including apparel, blankets, carpets, and home furnishings.

Some key trends

Sustainability and ethical Sourcing: Consumers are increasingly demanding woolen products that are sourced ethically and sustainably. This has led to a growing emphasis on responsible practices in the industry.

Material innovation: Advancements in material processing are making woolen textiles softer, more versatile, and better suited for various applications.

Rising demand for luxury goods: The growing affluence of consumers has given rise to demand for high-quality, luxury woolen products, such as premium sweaters, coats, and scarves.

Increased use in home furnishings: Woolen textiles are becoming increasingly popular in home furnishings, including carpets, blankets, and upholstery, due to their durability and aesthetic appeal.

The report categorizes the global woolen textiles market into three product segments: woolen apparel, woolen blankets, and woolen carpets. It also provides detailed analysis of the market's leading players, their business strategies, and financial performance. Overall, the study offers valuable insights for both established and emerging players in the woolen textiles industry, helping them understand market trends, identify growth opportunities, and make informed business decisions.