In 2023, the import value of Capsicum to India stood at approximately USD 4.17 million. The forecasts from 2024 to 2028 indicate a gradual increase from USD 4.28 million to USD 4.72 million. This suggests a consistent upward trend in import values with year-on-year variations averaging around 2.5% to 3%. Over the five-year period, the compound annual growth rate (CAGR) is projected at approximately 2.5%, highlighting steady growth.
Future trends to watch include:
- Potential shifts in domestic production and consumer preference.
- Changes in trade policies or tariffs that could affect import volumes and values.
- Global market conditions, including supply chain disruptions or shifts in major exporting countries.
