The forecast for the import of sets of woven fabric and yarn for rugs and tapestry into the UK depicts a downward trend from 2024 to 2028. Starting with 137.22 thousand kilograms in 2024, there is a consistent decline each year, reaching 70.65 thousand kilograms by 2028. This represents significant annual decreases of approximately 12.50% from 2024 to 2025, 14.02% from 2025 to 2026, 15.96% from 2026 to 2027, and 18.52% from 2027 to 2028. In terms of compound annual growth rate (CAGR) over these five years, the average annual decline is around 15.29%.
In 2023, the actual imports were significantly higher, therefore the market is experiencing a remarkable contraction. This decline might be attributed to shifts in economic conditions, consumer preferences, or supply chain disruptions. Future trends to monitor include:
- Potential changes in trade policies post-Brexit affecting import costs.
- Shifts in consumer preference towards sustainable and locally-made products.
- Technological advancements in textile production that could influence imports.
