The forecast for wool production in the US shows a consistent decline from 2024 to 2028. Starting at 9.15 thousand metric tons in 2024, wool production is expected to drop to 7.73 thousand metric tons by 2028. The average compound annual growth rate (CAGR) over this period indicates a negative trend, highlighting a steady decrease in production levels. Comparing year-on-year data, each subsequent year records a decrease in volume, posing challenges for the industry.
Future trends to watch for:
- Innovations in synthetic fibers, affecting market demand for natural wool.
- Environmental and animal welfare standards impacting production practices.
- Potential shifts in global trade policies influencing wool exports and imports.
