Wool worsted yarn market to reach $2.19 billion by 2030.

QY Research Inc. has released its latest report on the global wool worsted yarn market, forecasting substantial growth from $1.55 billion in 2023 to $2.19 billion by 2030, with a CAGR of 5.3 per cent over the period. Wool worsted yarn, known for its high-quality, smooth texture, and durability, remains a preferred choice in the fashion and textile industries. Its use in producing fine fabrics and knitwear drives demand, as consumers increasingly seek luxurious and long-lasting textiles.

Key market players include Suedwolle Group, Zhejiang Xinao Textiles, and Indorama Ventures, with the top five companies accounting for 81 per cent of market share in 2022. These firms continue to innovate, particularly in the development of blended yarns that enhance wool's properties and expand its applications.

Growth is getting a boost from fashion trends, where worsted yarn’s versatility supports both classic and contemporary designs. However, high production costs pose a challenge, particularly in price-sensitive markets where cheaper alternatives are preferred.

There are numerous opportunities with wool being promoted as a sustainable, eco-friendly material. The rise of e-commerce also offers avenues for global market expansion, making wool worsted yarn more accessible to diverse consumer bases worldwide. The report underscores the resilience of wool worsted yarn in a competitive textile market, driven by quality and sustainability.