The import of artificial flowers, foliage, and fruit of plastic to the Philippines is projected to increase from 2.9316 million kilograms in 2024 to 3.2071 million kilograms by 2028. This indicates a steady growth trend with year-on-year increases of approximately 2.4% to 2.7%. Looking at the last two years of the actual data, the year-over-year change has been consistent, establishing a relatively stable import growth pattern. The Compound Annual Growth Rate (CAGR) over the forecasted five-year period is expected to be around 2.3%, reflecting moderate and steady growth.
Future trends to watch for include potential economic factors that could influence manufacturing and importing costs, changes in consumer preferences towards sustainable and eco-friendly products, and potential shifts in trade policies that could impact import volumes.
