In 2023, the re-import value of hand-made rugs, including Kelem, Schumacks, and Karamanie, to Canada stood at an unspecified amount preceding growth projections. From 2024 to 2028, the forecast indicates a steady increase, reaching 5.73 thousand USD. The year-on-year growth portrays a progressive rise around 3% annually. Over this five-year period, the compound annual growth rate (CAGR) is expected to be approximately 2.8%.
Future trends to watch for:
- Potential impacts of global economic conditions on consumer spending in Canada.
- Evolving consumer preferences towards sustainable and artisanal products might bolster demand.
- Trade policies and tariffs affecting the cost and import dynamics of handmade rugs.