Dublin, May 16, 2022 (GLOBE NEWSWIRE) -- The "Global Merinos Wool Outdoor Wear Market - Forecast (2022-2027)" report has been added to ResearchAndMarkets.com's offering.
The global merinos wool outdoor wear market size is $458.14 million in 2021, registering a CAGR of -1.33% during the forecast period 2022-2027. Merino wool is regarded as wonder wool owing to its high level of comfort and multiple benefits. Though most people use woolen clothing only in the winter, merino wool clothing may be worn all year. Merino Wool is a good choice if the customer wants to be warm in the winter and cool in the summer.
Merino wool is suitable for anyone who wants to experience the benefits of conventional wool without the smell or discomfort. It has moisture control and breathability properties. Merino wool fabrics are more breathable and better at wicking moisture away from the skin and into the clothes.
The tenacity or endurance of merino wool is one of its most notable features. Australia and New Zealand produce a major share of Marino Wool which is equal to 80%. Merino wool outdoor wear are effectively being used in skiing applications owing to their ability to regulate body temperature in all weather conditions and resist odors, which is one of the major factors that are set to drive the growth of the Merinos Wool Outdoor Wear Market for the period 2022-2027.
Key Takeaways
- Geographically, the North America Merinos Wool Outdoor Wear Market accounted for the highest revenue share in 2021, and it is poised to dominate over the period 2022-2027 owing to the growing instances of sports contests in the region.
- The rise in the adoption of base layer merino wool wear in outdoor winter activities such as jogging, skiing, snowboarding, hiking, and cycling is driving the Base Layer segment. However, the decrease in the production of merino wool is one of the major factors that are said to hinder the growth of the Merinos Wool Outdoor Wear Market.
- In addition, according to Snowsports Industries America, 25.1 million Americans aged 6 and older participated in winter sports in the 2019-2020 winter season, an increase of 1.9 percent from 24.6 million recorded in the 2018-2019 winter season, which in turn is contributing to the growth of the Merinos Wool Outdoor Wear Market.
- Detailed analysis of the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Merinos Wool Outdoor Wear Market report.
Global Merinos Wool Outdoor Wear Market Segment Analysis - By Layer
Based on Layer, the Base Layer segment is accounted for the largest revenue market share in 2021 and is predicted to register the CAGR of -1.39% in the forecast period 2022-2027. This is owing to their extremely comfortable, soft, and excellent moisture-wicking properties to ensure that the user can wear them for extended periods, even while performing intense outdoor activities. Base layers are mainly used during outdoor winter activities such as jogging, skiing, snowboarding, hiking, and cycling. The superior anti-microbial property of merino wool also plays a major role in their growing adoption as it helps prevent the formation of odor even after extended periods of usage. Numerous manufacturers of base layer products typically use a blend of around 50-55% wool, 40-45% polyester, and 2% elastane to provide a low-cost, durable, comfortable, and elastic base layer, which is propelling the growth of the Merinos Wool Outdoor Wear Market.
Global Merinos Wool Outdoor Wear Market Segment Analysis - By Application
Based on Application, the Winter Sports segment is accounted for the largest revenue market share in 2021 and is predicted to grow with the CAGR of -0.62% in the forecast period 2022-2027. This is owing to their impeccable elasticity and the knitwear made of Merino wool can easily conform to any shape draped onto it. This makes it more ideal for winter sports athletics as it can stretch to its original shape after use. Furthermore, the merino wool's natural elasticity enables it to be wrinkle-free even after washing it. Merinos Wool Outdoor Wear is also water-repellent on its outer layers, while other standard wools get clammy and damp in inclement and frosty snow temperatures, and can have irritating itchiness when worn against the skin without any sub-layer underneath, which is driving the growth of the Merinos Wool Outdoor Wear Market.
Global Merinos Wool Outdoor Wear Market Segment Analysis - By Geography
Based on Geography, North America Merinos Wool Outdoor Wear accounted for the 43% revenue share in 2021. The growing instances of sports contests in the region, increase in female engagement in professional and domestic sports and fitness activities, and the rise in the crossover between sports and fashion are set to drive the growth of the Merinos Wool Outdoor Wear market. Key players in the market examined have taken advantage of this increased emphasis on style by introducing novel, technically sophisticated products that are both comfortable and practical to meet this demand, resulting in improved profitability. The improved supply chain has in turn allowed outerwear manufacturers to easily procure wool which is another major reason for growth. The Asia-Pacific market is poised to grow with the fastest CAGR during the forecast period 2022-2027. The increase in awareness regarding environmentally friendly surroundings and the rise in the demand and production of woolen fabric from various end-use industries are the key driving factors. The technological advancements in knitting and improvement in textures and fabric quality continue to speak of a new wave of aesthetic appreciation, which is further driving the Merinos Wool Outdoor Wear market.
Global Merinos Wool Outdoor Wear Market Drivers
Growing Advancements In The Wool Industry Aids In Market Growth:
The demand for Merinos Wool Outdoor Wear is growing owing to the advancements in measurement techniques and breeding for superior quality wool. The advancement in both of these areas has significantly boosted the attraction of wool and its acceptability in an increasing range of product categories. Merino wool is highly demanded among consumers opting for skiing sports owing to its premium quality, sustainability, and warm nature. So, manufacturers are focusing more interest to invent products that are made with merino wool. Thus, the demand for the wool industry rises as consumers are attracted to the products made with Marino wool.
The Rising Adoption Of Short Sleeve T-Shirt Made Of Merino Wool Is Boosting The Market Growth
The demand for merino wool short sleeve t-shirts is growing owing to their superior softness and quality when compared to regular wool, cotton, and synthetic fabrics. During winter, the merino wool fibers in the t-shirt help condense moisture vapors and evaporate them outside the fabric, thereby providing a cooling effect. Besides, merino wool can withstand temperatures ranging from -20 C to +35 C, making them ideal to be worn for outdoor activities during both summers as well as winter conditions and to make the t-shirt last longer without chairing its original size, thereby maintaining user comfort, which is driving the growth of the Merinos Wool Outdoor Wear Market.
Global Merinos Wool Outdoor Wear Market Challenge
Decrease In The Production Of Merino Wool Is Hindering The Market Growth:
Severe restriction permanently reduces adult wool production owing to reduced follicle numbers, and is associated with reduced body size and skin area. It has also been observed that adult wool production is less in sheep born and reared as twins than in single born lambs, and in sheep born to young ewes than in the progeny of mature ewes. For Instance, In Australia, wool production had fallen from about 900 million kilograms in 1968 to about 300 million kg in 2019. Wool harvesting, protecting the national flock, and stakeholder engagement are three key challenges being faced by the wool industry in Australia which further reduced the production of wool and thus hampered the market growth. The amount of wool that a sheep produces depends upon its breed, genetics, nutrition, and shearing interval and is approximately four to seven times more expensive to produce and process compared with manmade fibers and other natural fibers such as cotton. These factors are reducing the production of wool and thus limiting the growth of the merino wool outdoor wear market.
Global Merinos Wool Outdoor Wear Industry Outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Global Merinos Wool Outdoor Wear Market.
The top 10 companies are:
- VF Corporation
- Allbirds, Inc.
- Darn Tough
- Nester Hosiery
- Woolmark Company
- Woolpower
- Mons Royale
- Point6
- Minus33
- Wool & Prince
Recent Developments
- In October 2021, Darn Tough Vermont has expanded its production capabilities by developing a facility in 30,000 square feet of space customized on the mezzanine in Waterbury. This new production was aimed to enhance the capacity by over 35%. The company is scaling up and continuing the company's commitment to creating locally developed products.
- In August 2021, Allbirds Inc. has launched Leggings and Thermoregulating T-Shirts that are made with merino wool and eucalyptus tree fiber. The company has launched six items, such as leggings, bike shorts, tanks, t-shirts, and running shorts. The products were specifically made to be breathable, quick-drying, and sweat-wicking with high stretch.
- In January 2021, Nester Hosiery has launched merino wool sock collections. These socks are specifically designed for the needs of the tactical and law enforcement market. The Tactical Collection includes three extended crew length boot socks, such as the heavyweight Kodiak, lightweight Fayetteville, and the lightweight Coronado.
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