The forecast for the import of bulbs, tubers, corms, and chicory plants to the US shows a gradual decline from 2024 to 2028, from $161.33 million to $157.27 million. In 2023, the figure was approximately $162 million. The year-on-year variation indicates a steady decrease at a rate of around 0.65%. The compound annual growth rate (CAGR) over these five years reveals a continuous downward trend averaging about 0.63% annually.
Future trends to monitor include:
- Changes in agricultural policies that might impact import tariffs or regulations.
- Shifts in domestic cultivation capabilities that could reduce import dependency.
- Fluctuating demand patterns tied to consumer preferences for organic or exotic plant varieties.
- Impact of climate change on global yield and production cycles, affecting supply chains.