Based on the forecasted data, the year-on-year variations in production volumes are as follows:
- 2024: 13.129 Million Kilograms
- 2025: 11.134 Million Kilograms (-15.2%)
- 2026: 9.1588 Million Kilograms (-17.8%)
- 2027: 7.2034 Million Kilograms (-21.3%)
- 2028: 5.2676 Million Kilograms (-26.9%)
The Compound Annual Growth Rate (CAGR) over the forecasted period from 2024 to 2028 is approximately -19.2%.
The declining trend in production volumes highlights the need to monitor raw material availability, technological advancements, and market demand closely. The sector might also consider diversifying or innovating to mitigate the forecasted downturn.
