The forecast for the import of knitted or crocheted pullovers and cardigans made from wool or fine animal hair to the UK from 2024 to 2028 shows a decreasing trend. Forecasts indicate a year-on-year decline with the import value expected to decrease from 18.478 million in 2024 to 16.571 million in 2028. This suggests a gradual decrease, averaging a compounded annual growth rate (CAGR) of negative growth over five years.
Future trends to watch for include:
- Potential shifts in consumer preferences towards sustainable and locally-produced garments, which could further impact imports.
- The impact of trade policies post-Brexit and any new trade agreements the UK enters.
- Technological advancements in synthetic fiber production potentially affecting the demand for wool and fine animal hair products.