The import value of plastic table and kitchen ware to South Korea was significant in 2023, standing at 165.63 million USD. Over the past decade, the market has shown considerable growth with some fluctuations. The year-on-year variation between 2021 and 2022 was 9.19%, indicating a recovering trend after a notable decline in 2020. The year-on-year variation from 2022 to 2023 was 3.52%, suggesting a continued stable increase. The compound annual growth rate (CAGR) over the last five years (2019-2023) was 3.95%, reflecting a steady but moderate upward trend.
Looking ahead, the forecast data indicates a consistent growth pattern with a projected CAGR of 2.59% from 2024 to 2028. By 2028, the import value is expected to reach 194.61 million USD, representing a 13.63% growth rate over this period.
Future trends to watch for:
- Possible impact of global economic conditions on import volumes.
- Shifts in consumer preferences toward eco-friendly and sustainable plastic products.
- Technological advancements in plastic manufacturing that may affect import values.
- Regulatory changes both within South Korea and internationally that could impact trade policies and import tariffs.
