The new report by Expert Market Research titled, ‘Global Merino Wool Market Report, Size, Share, Trends, Growth, Analysis, Price and Forecast 2021-2026’, gives an in-depth analysis of the global merino wool market, assessing the market based on its segments like type, weave, application, end use and major regions like North America, Europe, Asia Pacific, Latin America, Middle East and Africa. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
• Historical Market Size (2020): 286 MKG
The market for merino wool has seen substantial growth due to factors such as rising demand for ever rising clothing industry, especially wool industry. Also, increased knowledge across different industries offers an enormous market opportunity for key players in the merino wool market. Thanks to the growing trend of online shopping among customers due to the increasing internet penetration, the availability of huge ranges at good prices, as well as convenience, the clothing industry is also getting a boost. The region’s rising economy is also a major contributor to the development of industry. Due to its premium quality, sustainability, and comfort, merino wool is highly sought after by consumers. The rising population and the growing disposable incomes of consumers are other factors driving the industry’s development.
Industry Definition and Major Segments
Merino wool is special because it retains the aroma of bacteria, absorbs their odor, and prevents them from building up. This means that, without having to worry about smelling, merino wool-odor resistant garments can be worn for longer. Its strength or toughness is among the most essential characteristics of merino wool. Due to its high crimp count, it is also excellent at regulating body temperature, particularly when worn against the skin. Moisture is wicked away from the body; the customer stays warm and not too hot.
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Based on the type, the industry is divided into:
Based on the weave, the industry is divided into:
• Plain Weave
Based on the application, the industry is divided into:
Based on the end use, the industry is divided into:
• Home Textile
• Other Accessories
The regional markets for merino wool include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Geographically, among the leading merino wool producers are Australia and China. The growth of the wool industry has been stimulated by economic growth in countries such as China, Germany, Japan, France, Italy, the United States, the United Kingdom, and Korea. The rising economies of these countries have resulted in a rise in consumer disposable income, pushing the merino wool industry forward. Since the sustainability of the wool and textile industries has resulted in many fast fashion garments ending up in landmines due to short lifespans, it is anticipated that discerning buyers will increasingly appreciate merino wool. Furthermore, considering the addition to the productivity and sustainability sectors of other natural fibres, such as cotton and silk, the anti-odor benefits of merino wool will continue to fuel market growth.
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