The import of cotton to Denmark has seen a steady decline over the past decade. From 2013 to 2023, the value decreased significantly from $58.043 million to $24.056 million, representing a Compound Annual Growth Rate (CAGR) of -11.8%. Year-on-year variations have shown consistent negative trends, with the most notable decline between 2022 and 2023 at -12.19%. Looking forward from 2024, the forecast shows a continued sharp decline, with the value projected to drop to $6.6027 million by 2028, implying a forecast 5-year CAGR of -20.19% and an overall forecast growth rate of -67.61%.
Future trends to watch for include:
- Global shifts in cotton production and supply chains.
- Changes in consumer preferences towards more sustainable and alternative fibers.
- The impact of geopolitical factors on international trading policies.
- Technological advancements and their influence on cotton production and consumption.