The import of shawls, scarves, and veils of silk to the US is forecasted to decline gradually from 2024 to 2028. In 2023, the imports stood at a higher level than the projections indicate for 2024, with subsequent years reflecting a slight reduction in value year-on-year. The year-on-year decline in imports is anticipated at approximately 2.64% from 2024 to 2028. The compound annual growth rate (CAGR) over this period is slightly negative, indicating a consistent downward trend.
Future trends to watch for include:
- Shifts in consumer preferences that may affect demand for silk products.
- International trade policies that could impact import dynamics.
- Market competition from alternative fabric materials which could influence demand.
