The re-import of musical boxes to Canada is projected to decline steadily from 2024 onwards. In 2023, the value was higher than the 2024 forecast of 56, marking a pivotal decline. The year-on-year percentage variations depict a consistent reduction, with notable changes being -6.61% from 2024 to 2025, -6.88% from 2025 to 2026, -7.39% from 2026 to 2027, and -7.75% from 2027 to 2028. Over the five-year horizon, the compound annual growth rate (CAGR) indicates a continuous downfall.
Future trends to watch for include:
- Technological advancements in music boxes which could affect demand and import patterns.
- Changes in consumer preferences towards digital or smart musical products.
- Trade policy shifts that may impact re-import practices and associated costs.