Analysis of the export of Wool, Animal Hair, and Horsehair Yarn and Fabric from the US from 2013 to 2023 shows a fluctuating trend with a peak of $99.71 million in 2013. By 2023, the export value stood at $66.067 million, marking a significant decline over the decade.
From 2022 to 2023, a year-on-year decrease of 2.45% was observed. Over the last five years, the compound annual growth rate (CAGR) averaged -2.82%, indicating a consistent downward trend. This pattern suggests a continued challenge in maintaining export levels in this sector.
Looking forward, the forecasted data from 2024 to 2028 projects a further decline with a forecast 5-year CAGR of -2.23%, leading to an overall decrease of 10.68% by 2028.
Future trends to watch for include:
- Changes in global demand for natural fibers versus synthetic alternatives.
- Trade policy shifts and their impact on US export capabilities.
- Innovations in textile manufacturing that could influence production and export dynamics.
- Environmental policies affecting wool and animal hair production.
