The forecast for UK imports of non-knitted or crocheted overcoats, capes, or cloaks for men and boys made of wool or fine animal hair shows a gradual decline from 2024 to 2028. The import value is expected to decrease each year, from 738.12 thousand in 2024 to 675.44 thousand by 2028. This suggests a consistent downward trend across the five-year period.
The year-on-year percentage change indicates a steady reduction in imports. Specifically, there is a decline of approximately 2.18% in 2025, 2.19% in 2026, 2.20% in 2027, and 2.21% in 2028, highlighting a consistent decrease each year. The compound annual growth rate (CAGR) over this period reflects this long-term decline in demand.
Future trends to watch for include potential changes in consumer preferences and fashion trends, which could impact demand for traditional woolen overcoats. Additionally, the movement towards sustainable and ethical fashion could influence import patterns, potentially leading to a resurgence in demand if these garments align with evolving consumer values.
