The import of handbags made of vulcanized fibre or paperboard to India is set to experience a steady increase over the next five years, starting from 1.4905 million kilograms in 2024 and projected to reach 1.7336 million kilograms by 2028. This indicates a consistent growth trend post-2023, showcasing an average increase of approximately 3.7% year-on-year. The compounded annual growth rate (CAGR) reflects a robust upward trajectory, reinforcing the rising demand for these types of handbags in the Indian market.
The future trend to watch includes:
- Emerging consumer preferences towards eco-friendly and sustainable products may further boost demand for handbags made from paperboard or vulcanized fibre.
- Trade policies and import regulations evolving due to geopolitical shifts or environmental legislation could impact supply chain dynamics.
- Technological advancements in material science might offer alternative materials that could compete with vulcanized fibre or paperboard.
