The distribution of orange juice in South Korea exhibited considerable fluctuations from 2013 to 2023. Starting at 15.07 thousand metric tons in 2013, the volume saw a significant drop in 2014, followed by a dramatic resurgence in 2015. From 2017 onwards, the market exhibited moderate yet consistent growth, peaking in 2021 at 23.62 thousand metric tons. However, a slight decline commenced in 2022, with 2023 standing at 20.72 thousand metric tons, marking a 7.91% year-on-year decrease and signaling a deceleration reflected in the minimal CAGR of 0.072% over the past five years.
Future trends to watch for:
- A forecasted continuous decline in orange juice distribution, reaching 12.1 thousand metric tons by 2028. - An average yearly decrease of 8.59% from 2023 to 2028. - Market dynamics such as shifts in consumer preferences, import policies, and competitive products will significantly impact the orange juice market.
