The import of life-jackets and life-belts to Japan is projected to grow steadily over the next five years, increasing from 331.09 thousand kilograms in 2024 to 355.28 thousand kilograms by 2028. This represents a year-on-year percentage increase of approximately 1.88% between each consecutive year starting from 2024. In 2023, the value stood at a slightly lower level, as the market was stabilizing post-pandemic.
The compound annual growth rate (CAGR) from 2024 to 2028 is approximately 1.81%, indicating a stable yet modest growth trend in the import volume of these safety products.
Future trends to watch for include:
- Increased regulations and safety standards, potentially boosting imports further.
- Technological advancements in material and design enhancing product demand.
- Changes in maritime and aquatic recreational activities influencing import volumes.