The forecasted import values of lac, natural gums, resins, gum-resins, and balsams to China show a consistent upward trend over the period from 2024 to 2028. Starting at $59.252 million in 2024, imports are expected to increase annually, reaching $67.741 million by 2028. This indicates a compound annual growth rate (CAGR) over these five years. Compared to 2023, where the values stood lower than in 2024, these projections demonstrate a steady market demand expansion for these natural products.
Future trends to watch for:
- Potential changes in global supply chains affecting import volumes due to geopolitical developments.
- Shifts in consumer preferences towards natural and sustainable products could drive demand further.
- Regulatory changes in China regarding the environmental impact and safety standards of imports.