South Africa - Wool - Market Analysis, Forecast, Size, Trends And Insights
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View PricingSouth African Wool Imports Skyrocket to $1.6 Million in 2023
South Africa Wool Imports
In 2023, overseas purchases of wool increased by 4.6% to 221 tons, rising for the second year in a row after four years of decline. Overall, imports, however, recorded a abrupt descent. The most prominent rate of growth was recorded in 2022 when imports increased by 124%. Over the period under review, imports reached the peak figure at 5.6K tons in 2015; however, from 2016 to 2023, imports failed to regain momentum.
In value terms, wool imports soared to $1.6M (IndexBox estimates) in 2023. In general, imports, however, recorded a deep setback. The growth pace was the most rapid in 2022 with an increase of 186%. Over the period under review, imports hit record highs at $23M in 2015; however, from 2016 to 2023, imports failed to regain momentum.
| COUNTRY | Import Value of Wool in South Africa (million USD) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
| Australia | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.7 | 1.5 |
| United Kingdom | 0.8 | 3.3 | 1.5 | 2.4 | 1.2 | 1.1 | 0.8 | 0.6 | 0.1 | 0.2 | 0.1 |
| New Zealand | 0.3 | 0.4 | 0.7 | 0.5 | 0.5 | 0.7 | 0.3 | 0.2 | N/A | 0.1 | 0.1 |
| Lesotho | 3.0 | 7.7 | 20.7 | 10.5 | 17.3 | 3.0 | 0.4 | N/A | 0.2 | N/A | N/A |
| Others | 0.1 | 0.1 | 0.1 | 0.1 | 0.3 | 0.2 | 0.1 | N/A | N/A | N/A | N/A |
| Total | 4.3 | 11.6 | 23.0 | 13.5 | 19.3 | 5.0 | 1.6 | 0.8 | 0.4 | 1.1 | 1.6 |
Imports by Country
In 2023, Australia (177 tons) constituted the largest wool supplier to South Africa, accounting for a 80% share of total imports. Moreover, wool imports from Australia exceeded the figures recorded by the second-largest supplier, the UK (24 tons), sevenfold.
From 2013 to 2023, the average annual growth rate of volume from Australia amounted to +281.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-14.6% per year) and New Zealand (-7.9% per year).
In value terms, Australia ($1.5M) constituted the largest supplier of wool to South Africa, comprising 93% of total imports. The second position in the ranking was taken by the UK ($61K), with a 3.8% share of total imports.
From 2013 to 2023, the average annual rate of growth in terms of value from Australia amounted to +466.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-22.5% per year) and New Zealand (-16.9% per year).
Imports by Type
In 2023, wool; (not carded or combed), carbonised (177 tons) constituted the largest type of wool supplied to South Africa, with a 80% share of total imports. Moreover, wool; (not carded or combed), carbonised exceeded the figures recorded for the second-largest type, wool; (not carded or combed), degreased, (not carbonised), shorn (44 tons), fourfold.
From 2013 to 2023, the average annual rate of growth in terms of the volume of wool; (not carded or combed), carbonised imports amounted to +43.9%. With regard to the other supplied products, the following average annual rates of growth were recorded: wool; (not carded or combed), degreased, (not carbonised), shorn (-19.6% per year) and wool; (not carded or combed), degreased, (not carbonised), (other than shorn) (-63.7% per year).
In value terms, wool; (not carded or combed), carbonised ($1.5M) constituted the largest type of wool supplied to South Africa, comprising 93% of total imports. The second position in the ranking was held by wool; (not carded or combed), degreased, (not carbonised), shorn ($112K), with a 7% share of total imports.
Import Prices by Country
In 2023, the wool price stood at $7,257 per ton (CIF, South Africa), picking up by 40% against the previous year. Over the period under review, the import price posted a buoyant expansion. The pace of growth was the most pronounced in 2021 when the average import price increased by 76%. The import price peaked in 2023 and is likely to see gradual growth in the immediate term.
There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Australia ($8,416 per ton), while the price for the UK ($2,487 per ton) was amongst the lowest.
From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Australia (+48.3%), while the prices for the other major suppliers experienced mixed trend patterns.
This report provides an in-depth analysis of the wool market in South Africa. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 13102200 - Wool, degreased or carbonised, not carded or combed
Country coverage:
- South Africa
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in South Africa
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2024
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2024
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2024
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Per Capita Consumption In 2012-2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
- Trade Balance, In Physical Terms, 2012-2024
- Trade Balance, In Value Terms, 2012-2024
- Per Capita Consumption, 2012-2024
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2024
- Production, In Value Terms, 2012–2024
- Imports, In Physical Terms, 2012–2024
- Imports, In Value Terms, 2012–2024
- Imports, In Physical Terms, By Country, 2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, 2012–2024
- Exports, In Value Terms, 2012–2024
- Exports, In Physical Terms, By Country, 2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
