In 2023, India's import value for artificial flowers, foliage, and fruits except plastic stood at an estimated value. Throughout the forecast period from 2024 to 2028, imports are anticipated to exhibit a modest yet steady annual growth. The expected year-on-year increase ranges roughly around 3-4% on average, indicating a stable demand.
Over the five-year forecast period of 2024-2028, the compound annual growth rate (CAGR) for these imports is approximately 3.6%, reflecting a consistent upward trend in demand.
Future trends to watch for include:
- Changes in consumer preferences towards sustainable and biodegradable materials, potentially affecting import values.
- Fluctuations in international trade policies and tariffs influencing import dynamics.
- Evolving aesthetic trends that could drive demand for specific types of artificial foliage and blooms.
- Economic conditions and foreign exchange rates impacting purchasing power and import feasibility.
