Textile industry in the world

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2023: Global Wool Fabric Market Volume Grew 23.7% to 561.2 Million in 3 Years

From 2021 to 2023, sales of woolen fabrics on a global scale increased by 23.7%, reaching 561.2 million square meters. One of the factors of growth is the increase in the world's population. This is stated in a study by BusinesStat, the results of which were released in mid-August 2024.

According to estimates, in 2019, 503.7 million square meters of woolen fabrics were sold in the world. In 2020, a decline of 10% followed - to 453.6 million square meters. The industry was negatively affected by the COVID-19 pandemic, which provoked disruptions in the global supply chain, combined with a decrease in manufacturing activity.

In 2021, the market began to recover: the increase was 11.8% - up to 507.2 million square meters. In 2022, an increase of 7.7% was recorded - to 546.5 million square meters, and in 2023 - by another 2.7%. The positive dynamics is due to the growing popularity of products made of natural fabrics by people who care about the environment and their own comfort. At the same time, the number of such consumers is increasing annually - especially rapidly in developed countries. In turn, the high cost of wool fabrics compared to synthetic fabrics prevents more active market expansion.

In 2023, the largest consumer of woolen fabrics on a global scale was, China where almost 94 million square meters of products were used, which corresponds to 16.7% of global sales. In the second position is Italy with an indicator of 74.3 million square meters, or 13.2%. Closes the top three, Cambodia where 30.1 million square meters of woolen fabrics were consumed, or 5.4% of global sales. The study highlights Cambodia's garment industry as the backbone of its economy. For^[1]

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