China's semi-fine wool production has shown significant variability over the past decade. From 2013 to 2023, production volumes demonstrated initial growth, peaking in 2016, followed by a decline until 2019. Post-2019, a recovery trend is noticeable, with production reaching close to 2013 levels by 2023. In 2023, production stood at 131.04 thousand metric tons. Over the last two years, the production showed an average year-on-year increase of about 1.08%. The five-year CAGR leading up to 2023 is calculated at 1.7%.
Looking forward, forecasts indicate a steady growth in semi-fine wool production, with an estimated 4.1% increase over the next five years, resulting in a 5-year CAGR of 0.81%. Future trends to monitor include impacts of technological advancements in wool processing, policy changes affecting the agricultural sector, and global demand shifts for semi-fine wool products.
