In 2023, the import of knitted or crocheted gloves, mittens or mitts of cotton to the US stood at approximately 10.7 million kilograms. Forecasted data suggest a gradual decline, with a projected contraction in volume from 10.454 million kilograms in 2024 to 9.4613 million kilograms by 2028.
The year-on-year decline from 2024 to 2025 is expected to be around 2.4%, followed by decreasing rates of 2.5% in subsequent years. Over a five-year period, the compound annual growth rate (CAGR) reflects an average yearly decrease of approximately 2.6%.
Future trends to watch for include:
- Potential changes in consumer preferences towards synthetic or alternative materials.
- Impact of trade policies and tariffs on import volumes.
- Advancements in technology affecting production and import efficiency.
- Environmental factors influencing cotton production and market demand.