The forecast for the import of silk to the UK shows a consistent declining trend from 2024 to 2028. The value starts at 38.791 million USD in 2024 and decreases annually to 32.682 million USD by 2028. This prediction reflects a clear downward trajectory, suggesting reduced demand or a strategic shift in sourcing by the UK market. Comparing to 2023, which marks the baseline, the percentage decrease year-on-year averages around 3-4%, while the compound annual growth rate (CAGR) over these five years depicts a steady reduction in imports.
Looking ahead, industry stakeholders should closely monitor global silk production levels, potential shifts in consumer preferences towards sustainable alternatives, and any economic or trade regulations that could impact silk import patterns. Additionally, technological advancements in fabric manufacture may also influence traditional silk demand. These factors may alter the forecast trends and offer insights into emerging market opportunities or challenges.
