China's wool fibre consumption may reach 705.80 KT by 2028

Data from Fibre2Fashion's market insight tool TexPro showed that China's wool fibre consumption increased from 615.25 KT in 2020 to 644.88 kt in 2021 and 655.62 KT in 2022. As the world's second most populous country, China's high consumption levels are further fuelled by its severe winter weather. 

India, the most populous country, has a wool fibre consumption that is just 10 per cent of China's due to its milder winters. Consumption in India is projected to rise to 76.60 KT by 2028, with an average annual growth rate of 2.05 per cent between 2020 and 2028. Current estimates place India's consumption at 73.81 KT in 2023. India’s wool fibre consumption was 70.63 KT in 2020, 72.40 KT in 2021 and 73.03 KT in 2022. 

Wool fibre consumption in the US will reach 7.84 KT by 2028 from 7.27 KT in the current year. It can grow at the highest annual rate of 4.15 per cent. The country has noted consumption of 6.66 KT in 2020, 6.93 KT in 2021 and 7.14 KT in 2022, as per TexPro. 

Western Europe's consumption is projected to grow to 81.32 KT by 2028, with an annual growth rate of 1.51 per cent. The region previously recorded consumption levels of 76.60 KT in 2020, 80.09 KT in 2021, and 80.68 KT in 2022. In Eastern Europe, wool consumption is forecast to reach 32.75 KT in 2028. The area had earlier reported consumption of 28.40 KT in 2020, 30.01 KT in 2021, 30.75 KT in 2022, and 31.15 KT in 2023. 

ALCHEMPro News Desk (KUL)