In 2023, India's import of artificial flowers, foliage, and fruit (excluding plastic) stood at 3.47 million kilograms. The forecast from 2024 to 2028 shows a steady annual increase, with the volume expected to reach 4.1134 million kilograms by 2028. Year-on-year growth reveals a consistent upward trend, with a Compound Annual Growth Rate (CAGR) implying a moderate annual increase over this period.
Future trends to watch for include:
- Continued rise in consumer demand for artificial decorative items for home and events, driving import volumes.
- Potential shifts in trade policies and tariffs impacting import costs and volumes.
- Environmental and sustainability factors influencing consumer preferences and product sourcing.
- Technological advancements in production that might affect global supply chain dynamics and quality standards of artificial botanicals.