The import of raw silk into Japan is forecasted to decline steadily from $11.74 million in 2024 to $6.10 million by 2028. This represents a noticeable year-on-year decrease, with the compound annual growth rate (CAGR) showing a shrinking market over these five years. Compared to the previous years, apparent declines suggest changing market dynamics, possibly influenced by the silk industry's shifts or broader economic factors.
Future trends to watch for include:
- Potential changes in consumer demand for silk products in Japan.
- Shifts in global silk production and supply chains.
- The impact of environmental and sustainable practices on raw silk importation.
- Exchange rate fluctuations affecting import costs.
