In 2023, China's wool and wool tops imports were recorded at 280.00 thousand metric tons. From 2024 to 2028, imports are forecasted to decline progressively from 276.78 to 264.03 thousand metric tons. This indicates a consistent downward trend in imports, with year-on-year variations ranging around -1.2% to -1.4%. The compound annual growth rate (CAGR) over this five-year period is estimated at approximately -1.1%, reflecting a steady decrease each year.
Future trends to watch for include:
- Changes in domestic wool production which could influence imports.
- Shifts in global wool supply chains due to geopolitical factors or environmental policies.
- Innovations in synthetic textiles impacting wool demand.
- Consumer preference trends towards sustainable and eco-friendly products.