Wool Market Overview in Ireland
Market Overview
For the third consecutive year, the Irish wool market recorded growth in sales value, which increased by 
% to $ in 2019. Over the period under review, consumption, however, enjoyed resilient growth. The pace of growth was the most pronounced in 2011 with an increase of % year-to-year. Over the period under review, the market attained the peak level in 2019 and is expected to retain growth in the near future.
In value terms, wool production rose notably to $ in 2019 estimated in export prices. In general, production, however, continues to indicate a resilient increase. The pace of growth was the most pronounced in 2015 with an increase of % against the previous year. Wool production peaked in 2019 and is likely to see gradual growth in the immediate term.
% to $ in 2019. Over the period under review, consumption, however, enjoyed resilient growth. The pace of growth was the most pronounced in 2011 with an increase of % year-to-year. Over the period under review, the market attained the peak level in 2019 and is expected to retain growth in the near future.In value terms, wool production rose notably to $
in 2019 estimated in export prices. In general, production, however, continues to indicate a resilient increase. The pace of growth was the most pronounced in 2015 with an increase of % against the previous year. Wool production peaked in 2019 and is likely to see gradual growth in the immediate term.Consumption
In 2019, consumption of wool decreased by -% to tonnes for the first time since 2016, thus ending a two-year rising trend. The total consumption volume increased at an average annual rate of +% from 2007 to 2019; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2011 when the consumption volume increased by % y-o-y. As a result, consumption reached the peak volume of tonnes. From 2012 to 2019, the growth of the consumption remained at a lower figure.
The size of the wool market in Ireland reached $ in 2019, growing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2011 with an increase of % y-o-y. Wool consumption peaked in 2019 and is likely to see gradual growth in the near future.
% to tonnes for the first time since 2016, thus ending a two-year rising trend. The total consumption volume increased at an average annual rate of +% from 2007 to 2019; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2011 when the consumption volume increased by % y-o-y. As a result, consumption reached the peak volume of tonnes. From 2012 to 2019, the growth of the consumption remained at a lower figure.The size of the wool market in Ireland reached $
in 2019, growing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2011 with an increase of % y-o-y. Wool consumption peaked in 2019 and is likely to see gradual growth in the near future.Market Forecast
Driven by increasing demand for wool in Ireland, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +% for the period from 2019 to , which is projected to bring the market volume to tonnes by the end of .
% for the period from 2019 to , which is projected to bring the market volume to tonnes by the end of .Market Structure
Driven by a growing demand, the share of imports in total supply in Ireland increased significantly over the last twelve-year period (from % to %). Total import supply of wool is expected to rise, though it will be moderately impacted by price increases.
% to %). Total import supply of wool is expected to rise, though it will be moderately impacted by price increases.Trade Balance
This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.
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