In 2023, India imported polishes, creams, and scouring pastes worth 26.6 million USD. From 2024 to 2028, forecasted imports show a steady increase, rising from 27.413 million USD to 30.749 million USD. This trend indicates a Compound Annual Growth Rate (CAGR) of approximately 2.89% over these five years. The year-on-year growth rates range between 3.14% and 2.73%, reflecting a consistent upward trajectory. This growth can be attributed to increasing demand driven by urbanization and the rising focus on hygiene and cleanliness.
Future trends to watch for include:
- Increasing consumer awareness and preference for specialty products could further boost imports.
- Market dynamics, such as changes in trade policies and foreign exchange rates, may impact future growth.
- Technological advancements in cleaning products could also influence demand patterns.
