From 2013 to 2022, the production has seen significant variations with key fluctuations in 2016 (88% increase) and 2020 (-40.57% decrease). The Compound Annual Growth Rates (CAGRs) indicate a volatile market, with a significant decline in recent years, including a -16.18% CAGR by 2022. Forecasts show a consistent downtrend, with an estimated -9.95% CAGR by 2028, leading to a 40.8% reduction in production over five years.
Future Trends to Watch: The substitution of synthetic dyes with eco-friendly alternatives, regulatory impacts, and technological advancements in production processes are key variables that could shape future trends.
