India's import of musical boxes is projected to grow steadily from 2024 through 2028. In 2023, imports stood at 116.0 thousand kilograms, which shows a continuous upward trend with year-on-year variations indicating steady growth: 5.62% in 2024, 5.60% in 2025, 5.20% in 2026, 4.84% in 2027, and 4.53% in 2028. The compound annual growth rate (CAGR) over the five-year period is anticipated to be 5.16%.
Future trends to watch for include:
- The influence of global supply chain dynamics and trade policies on import rates.
- The impact of evolving consumer preferences towards musical boxes, possibly influenced by cultural trends.
- Technological advancements in musical box design and their import implications.
- The economic growth of India and its effect on luxury goods consumption.