Herbicide sales in South Korea, as measured in thousand metric tons, displayed variability between 2013 and 2023. Sales peaked in 2017 at 6.15 thousand metric tons and hit a low in 2013 at 4.48 thousand metric tons. By 2023, sales stabilized at 5.37 thousand metric tons. Year-on-year variations fluctuated significantly, with notable declines in 2019 and a moderate rise in 2017. The CAGR between 2018 and 2023 showed a slightly negative trend at -1.96%. Forecasts suggest marginal declines from 2024 through 2028, with a forecast 5-year CAGR of -0.04%.
Future trends to watch for:
- Potential impact of regulatory changes on herbicide usage and sales.
- Emergence of organic farming and its influence on herbicide demand.
- Technological advancements in herbicide formulations.
- Environmental concerns leading to shifts in herbicide application practices.
