In 2023, imports of fur skins and artificial fur, and their manufactures into China stood at 811.23 million US dollars, a historical data point before forecasts begin. The forecast from 2024 to 2028 indicates a steady downward trend in import values: 722.44 million in 2024 to a reduction at 371.91 million by 2028. The year-on-year variation underscores a significant reduction, with an approximate average annual decline rate. This suggests a compounded annual growth rate (CAGR) that is negative, pointing to a decrease in demand or a shift in economic strategies.
Future Trends to Watch for:
- Changes in consumer preferences towards sustainable and ethical products might influence fur imports.
- Economic policies affecting trade tariffs and domestic production capabilities.
- Technological developments in artificial fur production could impact market dynamics.