As 2024 concludes, the wool industry stands at a crossroads, balancing significant challenges with meaningful advancements. Australian wool prices reached a four-year low, straining growers with rising costs and declining volumes. Yet, the unwavering dedication of the supply chain highlights wool’s enduring value and potential.

This year underscored the need for strategic action. Without support, the availability of premium wool, a cornerstone of the fashion industry, risks falling short of future demand. Strategic partnerships and long-term commitments are vital to stabilizing supply chains, safeguarding livelihoods, and ensuring the continuity of this extraordinary fibre.

Despite obstacles, 2024 brought significant achievements. Woolmark+ set a bold, nature-positive vision for wool’s future, emphasizing environmental and social benefits. Campaigns like Wear Wool, Not Waste reached over 64 million people, promoting wool’s role in sustainable fashion. Woolgrowers also advocated for fair, science-based standards to reflect wool’s true environmental impact.

Consumer demand for natural fibres surged, aligning with wool’s unmatched sustainability credentials. Woolmark celebrated its 60th anniversary with a 6.8 per cent growth in licensees and introduced a Recycled Wool Specification to combat textile waste. Innovations like The Wool Lab, sourcing guides, and the new Supplier Search further strengthened connections across the supply chain.

As the industry celebrates its legacy of quality and innovation, it looks ahead with optimism. By driving sustainability and collaboration, wool’s future remains bright, ensuring its timeless appeal for generations to come.