One of the key factors driving the wool market is increasing disposable income across various geographies, which has significantly boosted spending capacity on apparels and interior textiles. Other favorable conditions, such as textile production, the availability of raw material and significant growth of the manufacturing sector in China, are expected to boost the consumption of wool from textile industries. A prominent share of global wool production is consumed by textile producers located in China. East Asia, with a significant contribution from China, is expected to provide attractive opportunities for the growth of the global wool market.

Growth in demand for wool apparel is further boosted by increasing retail sales of clothing across different geographies. Growth in the retail sales of clothing has been substantial over the past few years owing to changing lifestyles of consumers. Aggressive marketing strategies are being adopted by clothing industry participants, which have boosted the popularity of woolen athleisure among the young population. In regions such as North America and Europe, consumer awareness about clothing fibers has increased. Consumers are now more concerned about the adoption of apparels made from natural fibers. This factor has significantly increased the sales of textile products made of wool.