In 2023, the import value of stoppers, caps, lids, and crown corks made of base metal to India stood at approximately 79.0 million USD. From 2024 to 2028, the forecasted data shows a continuous year-on-year growth in import values, indicating a steady increase in demand. The imported value grows from 81.609 million USD in 2024 to 93.335 million USD by 2028.
Year-on-year percentage increases are expected as follows:
- 2024-2025: 3.706%
- 2025-2026: 3.495%
- 2026-2027: 3.316%
- 2027-2028: 3.142%
The compound annual growth rate (CAGR) from 2024 to 2028 is approximately 3.42%, showcasing a moderate growth trend over these years.
Future trends to watch out for include potential fluctuations in demand driven by changes in packaging materials preferences or regulatory shifts, as well as the global economic climate affecting trade dynamics. Sustainability trends and innovations in materials could also influence imports in coming years.
