Norway's wool production is forecasted to decline gradually from 2024 to 2028. In 2024, the production is expected to be 3.35 thousand metric tons, decreasing to 3.16 thousand metric tons by 2028. This decline represents a year-on-year drop of approximately 1.49% to 1.56%. The compound annual growth rate (CAGR) over the next five years is expected to be around -1.5%. This decline continues a trend observed since 2023, where the production stood at 3.40 thousand metric tons.

Future trends to watch for include:

Potential impacts of climate change on sheep farming conditions.
Developments in sustainable farming practices and their adoption rates.
Market demand for wool and its substitutes, influenced by fashion and textiles industry trends.