I have been analysing the world wool market for well over 20 years, looking at the medium and long term trends and prospects. Over that time wool’s share of world consumption of textile fibres has fallen from 4.3% to 1.2% now.
When I make presentations on the global trends and prospects, particularly when I present to wool producers, inevitably the decline in wool’s volume share of the world textile market is raised. Clearly this decline is bad, isn’t it? And shouldn’t something must be done to arrest and reverse the decline.
My answer to both questions is: No. Volume share is a red herring.