The import of citrus fruit to South Korea has seen a significant increase from 2013's $235.25 million to $386.81 million in 2023, marking a steady upward trend. The value stood at $386.81 million in 2023. The year-on-year variation over the last two years shows a notable increase, with a growth rate of 3.57% in 2022 and 3.37% in 2023. The Compound Annual Growth Rate (CAGR) over the past five years stands at 3.38%, indicating consistent demand expansion.
Looking ahead, the forecasted data suggests that the import of citrus fruit will continue to rise, reaching $446.26 million by 2028. The anticipated 5-year CAGR is 2.25%, highlighting a moderate yet steady growth trajectory. The overall forecasted 5-year growth rate is projected at 11.79%. Key future trends to watch for include potential changes in consumer preferences towards health and wellness, fluctuations in import regulations, and the influence of climate change on citrus fruit production. These factors could have significant impacts on the import volumes and values in the coming years.
