In 2023, Canada’s import of animal carving material stood at a level from which a forecasted gradual decline begins from 2024 onwards. The import value, expressed in thousand US dollars, shows a consistent year-on-year decrease of about 1.86% to 1.85% each subsequent year through 2028. Specifically, the CAGR over this forecasted period is approximately -1.45%. This negative trend suggests a shrinking demand or possible substitution by other materials or sources.
Future trends to monitor include:
- Potential shifts in artistic or consumer preferences that might renew interest in animal carving materials.
- Regulatory changes and international trade policies that could impact the imports of such materials.
- Technology advancements or alternatives that might impact the traditional carving industry.
- Developments in ethical sourcing or sustainability that could influence market dynamics.
