Between 2013 and 2023, South Korea experienced varied trends in the import of shelled walnuts. In 2023, imports stood at $120.89 million, showing a general upward trend after initial fluctuations. Year-on-year variations indicate a sharp decline in 2016 at -35.03%, a recovery by 19.78% in 2017, and stabilization with minor variations from 2018 to 2023. The 5-year CAGR leading up to 2023 was approximately 2.99%, indicating moderate growth.
Looking forward, the forecast for 2024 shows continued growth, with the 5-year CAGR predicted at 1.56%, translating to an estimated 8.03% growth by 2028. This suggests a steady, albeit modest, increase in walnut imports.
Future Trends to Watch For:
- Potential shifts in consumer preferences toward healthier nuts, altering demand dynamics.
- Impact of trade policies and tariffs affecting walnut imports from major suppliers.
- Fluctuations in global walnut production yield influencing import volumes and value.
- Technological advancements improving walnut preservation, possibly affecting import quality and quantity.
- Economic factors such as currency fluctuations impacting the affordability of imported walnuts.
