Analysis of the export trends of perfumes and toilet waters from South Korea shows significant fluctuations over the past years. Starting from 153.65 thousand kilograms in 2013, the volume has seen both sharp increases and decreases. The growth was particularly notable in 2017 with a 74.53% year-on-year increase, which stabilizes in the subsequent years, leading to a 3.7% increase in 2023, reaching 413.87 thousand kilograms. The 5-year CAGR is around 3.72%, indicating steady growth. Looking ahead, forecasts predict continued growth with a 5-year CAGR of 2.68%, estimating the export volume to reach 490.94 thousand kilograms by 2028, reflecting a total growth rate of 14.15% from 2023.
Future trends to watch for:
- Market demands and preferences, particularly in key export regions.
- The impact of regulatory changes and trade policies on export volumes.
- Technological advancements and innovations within the fragrance industry.
- Potential economic shifts that might influence export patterns.
- Environmental and sustainability standards affecting product formulations.