In 2023, China's import of natural gum, resin, gum-resin, and balsam was recorded at a lower quantity than the forecasted 25.651 million kilograms for 2024. The forecast anticipates a consistent increase, reaching 29.968 million kilograms by 2028. Year-on-year growth from 2024 to 2025 is approximately 4.33%, and from 2025 to 2026, it is about 4.07% with a similar upward trend continuing into 2027 and 2028. The compound annual growth rate (CAGR) over these five years stands at about 3.89%.
Future trends to watch for:
- Potential changes in global supply chains affecting availability and prices.
- China's domestic policies and emphasis on sustaining or increasing import volumes.
- Technological advancements that might reduce the demand or change the sourcing of these materials.