In 2023, wool production at Farm Gate in the US stood at 44.56 million US dollars. Over the past decade, trends show fluctuations with significant dips in 2016 and 2020 and noticeable growth in years like 2018 and 2019. The period from 2019 to 2023 demonstrates a stable increment averaging a 0.82% CAGR.
Year-on-year variability from 2022 to 2023 indicates a moderate growth of 2.57%. However, projections for the upcoming five years forecast a slight decline, with a projected CAGR of -0.43% over the period from 2024 to 2028.
Future trends to watch for include global wool demand shifts, potential impacts of climate change on wool farming, and technological advancements in wool processing which could significantly influence production values and volumes.
