Analysis of the Development of China's Wool Industry from 2023 to 2028

Release time：

2023-05-15

Analysis of the Development of China's Wool Industry from 2023 to 2028

National wool production is approximately 390,000 tons

Data from the National Bureau of Statistics shows that from 2011 to 2020, China's wool production first increased and then decreased. In 2015, it reached a peak of over 467,000 tons, and in 2020, it fell to a low of around 370,000 tons. In 2021, it slightly rebounded to around 390,000 tons.

In recent years, the increasing consumer demand for mutton has driven the expansion of meat sheep farming, while the production efficiency of wool sheep is relatively low, leading to a decline in the enthusiasm of farmers and herdsmen for wool sheep farming. In addition, the rapid development of China's chemical fiber industry has replaced some of the demand for wool products. The above factors have led to a decline in domestic wool production in recent years.

Note: The above wool production statistics include the total production of sheep wool, goat wool, and cashmere.

Total import and export trade exceeds US$2 billion

Data from the General Administration of Customs of China shows that from 2017 to 2021, affected by factors such as the COVID-19 pandemic, the international macroeconomic situation, and trade conditions, the total import value of the wool industry fluctuated significantly. The decrease in 2019 and 2020 exceeded 20% each year. In 2021, China's total import value of the wool industry rebounded to over US$2 billion, with a year-on-year increase of over 40%. From January to November 2022, China's total import value of the wool industry exceeded US$2 billion.

The average price of wool tops in the import market has increased rapidly

From the perspective of the import market, from 2017 to 2021, the import average price of uncombed wool and fallen wool products in China fluctuated greatly. From January to November 2022, the import average price was below US$0.8 million/ton; the import average price of wool tops showed an overall fluctuating upward trend, exceeding US$0.9 million/ton from January to November 2022.

The wool foreign trade market continues to have a trade deficit

In terms of trade balance, the domestic wool foreign trade market has generally shown a trade deficit. In 2021, the national wool industry's trade deficit was approximately US$2 billion; from January to November 2022, the national wool industry's trade deficit exceeded US$1.5 billion.

For more industry research and analysis, please refer to the "China Wool Industry Production, Sales, Demand and Market Prospect Analysis Report" published by the Foresight Industry Research Institute. Foresight Industry Research Institute also provides solutions such as industry big data, industry research, industry planning, park planning, industrial investment attraction, industry maps, industry chain consulting, technical consulting, IPO fundraising feasibility studies, IPO business and technical writing, and IPO working paper consulting.

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