From 2013 to 2015, Finland's wool or fine animal hair yarn production was stagnant at zero. The industry saw significant growth starting in 2016 with a production value of 707,410 kilograms. Since then, there has been a consistent upward trend, with notable fluctuations such as 21.14% year-on-year growth in 2021, and a slight decrease of -0.22% in 2022. The production level in 2023 stood at 929,820 kilograms, showing a 3.58% increase from the previous year. The Compound Annual Growth Rate (CAGR) over the past five years up to 2023 was approximately 6.42%. Forecasts show continuing growth, reaching 1,081,400 kilograms by 2028, with a projected 5-year CAGR of 2.39%.
Future trends to watch for include potential technological advancements in yarn production, evolving consumer preferences towards sustainable and locally produced materials, and changes in global trade policies that could impact raw material supply and demand.
