The import value of domestic electric coffee or tea makers to South Korea witnessed a dynamic trend from 2013 to 2023, showing significant fluctuations: a decline in the initial years followed by notable increases. In 2023, the import value stood at 109.56 million USD. Over the previous two years, the import value increased by 12.11% in 2021 and 2.1% in 2022. The compound annual growth rate (CAGR) for the last five years represented an increase of 5.02%, highlighting a solid upward trend.
Future trends to watch for:
• Growing demand for high-quality and specialty coffee and tea makers.
• Increasing penetration of smart and IoT-enabled appliances driving market growth.
• Rising consumer preference towards premium brands and eco-friendly products.
