Product Code: ETC387564 | Publication Date: Aug 2022 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
The India pure wool market import shipment demonstrated robust growth with a high CAGR from 2020 to 2024. However, there was a notable decline in the growth rate between 2023 and 2024. Despite this slight slowdown, the market maintained a strong upward momentum, indicating overall expansion during the period.
The India pure wool industry contributes significantly towards overall textile exports from India and has been growing steadily since 2014?15 when it recorded a growth rate of 17%. Currently, the size of this sector stands at around INR 3 crore with about 8 million users spread across 43 countries worldwide. Major wool producing states include Jammu & Kashmir (accounting for nearly 70%), Himachal Pradesh, Rajasthan and Uttaranchal provinces where Merino sheep are reared for their fine quality wool fiber that fetches premium prices globally. Major global markets include US (accounting for 40%) followed by Europe and China (20%).
The India pure wool market has experienced steady growth due to the increasing demand for high-quality wool products. Wool`s natural insulating properties, softness, and sustainability have led to its popularity in various applications, from clothing to home textiles. Additionally, the rise of the fashion and textile industry in India has provided a significant boost to the market.
The pure wool market in India faces various challenges due to competition from synthetic fibers and cost considerations. Synthetic fibers often offer cheaper alternatives to pure wool, making it difficult for pure wool products to compete on price. Wool production can also be impacted by unpredictable weather conditions and the availability of grazing land for sheep. Promoting the benefits of pure wool, investing in sustainable farming practices, and exploring innovative uses for wool can help sustain and expand the market.
The pure wool market in India has shown steady growth, mainly due to the country`s rich textile heritage and the popularity of woolen garments in colder regions. The Covid-19 pandemic impacted the wool industry, affecting the supply chain and consumer spending. However, as economic activities normalize, the market is expected to rebound, supported by the ongoing demand for quality woolen products.
The demand for pure wool in India has been driven by factors such as cold weather and the luxury appeal of woolen products. Key players like Raymond Group, Vardhman Textiles, and Oswal Woolen Mills contribute to the growth of the India pure wool market.