In 2023, the UK recorded the re-import of Wood Marquetry, Laid, Caskets, and Cases for Jewels at a total volume that serves as the baseline. Forecasts for 2024 to 2028 show a consistent year-on-year decline with values of 2.58 thousand kilograms for 2024, reducing steadily to 1.63 thousand kilograms by 2028. The annual reductions are approximately: 9.69% from 2024 to 2025, 10.30% from 2025 to 2026, 11% from 2026 to 2027, and reaching around 12.37% by 2027 to 2028. The compound annual growth rate (CAGR) over five years indicates an average annual shrinkage in import volume.
Future trends to watch for include:
- Potential changes in UK trade policies that could impact re-import demand.
- Shifts in consumer preferences away from these goods to alternative luxury presentation options.
- Environmental regulations influencing the wood product market.
- Technological advancements leading to alternative materials.