In 2023, the import of toys, games, and sports requisites to South Korea stood at 2.6681 billion USD. Over the past two years, imports saw moderate year-on-year growth with an increase of 3.57% in 2022 and 3.38% in 2023. Over the last five years leading to 2023, the compound annual growth rate (CAGR) averaged 3.17%. From 2013 to 2023, the market saw several fluctuations but maintained an overall upward trend, driven by periods of higher growth like 2017-2018 where the growth rates were around 13.61% and 12.01%, respectively.
Future Trends to Watch For:
- Sustained, albeit slower, growth with a forecasted 5-year CAGR of 2.48% leading up to 2028.
- A projected overall growth rate of 13.02% from 2023 to 2028.
- Potential impacts of economic factors such as currency fluctuations, trade policies, and domestic demand changes.
- Technological advancements in toys and games that could drive higher value imports.