The re-import of shawls, scarves, and veils of silk to the UK has shown a consistent decline from 2018 to 2022. Year-on-year variations highlight significant reductions, with a nearly 29% decrease from 2018 to 2019, 29% from 2019 to 2020, 47% from 2020 to 2021, and 78% from 2021 to 2022. The compound annual growth rate (CAGR) over these five years indicates an average annual decline of 39%. By 2023, the trend persisted at an extremely low volume.
Future trends to watch for include:
- Potential recovery or stabilization in demand for luxury or sustainable silk products due to changing consumer preferences.
- Impact of trade policies on import dynamics post-Brexit and potential agreements with silk-producing countries.
- Further declines due to competition from alternative materials and local UK production initiatives.
