The forecast for the import of iron or steel tableware and kitchenware to India indicates sustained growth from 2024 to 2028. In 2023, the import value stood at $98.59 million USD. The import values are projected to rise progressively from $103.13 million USD in 2024 to $120.88 million USD by 2028.
Year-on-year variation estimates reveal:
- From 2023 to 2024: 4.6%
- From 2024 to 2025: 4.4%
- From 2025 to 2026: 4.2%
- From 2026 to 2027: 3.9%
- From 2027 to 2028: 3.7%
The compound annual growth rate (CAGR) from 2023 to 2028 is approximately 4.2%, indicating an average annual growth rate of 4.2% over the period.
Future trends to watch for:
Factors such as changing consumer preferences, import policies, and global steel prices could significantly affect the import dynamics. Furthermore, advancements in manufacturing technology and increased domestic production capabilities could alter the import landscape. Environmental regulations and sustainability concerns are also likely to influence future trends, potentially leading to increased demand for eco-friendly materials and practices.