The import of mechanically made lace of other than man-made fibers to India is forecasted to grow from 2.2993 million kilograms in 2024 to 2.5581 million kilograms in 2028. Compared to 2023, which recorded a volume of approximately 2.23 million kilograms, this represents a sustained growth trajectory. Year-on-year growth rates exhibit modest increases, averaging approximately 2-3% annually, while the compound annual growth rate (CAGR) projected for the period is slightly above 2.2%.
Future trends to watch for include:
- Disruptions or opportunities resulting from changes in global trade policies and tariffs.
- Technological advancements in lace manufacturing that could impact demand patterns.
- Fluctuations in global raw material prices affecting production costs and import volumes.
