Over the last decade, the Baby Carriages and Baby Carriages Parts market in South Korea has shown notable fluctuations. From a market size of $157.23 million in 2012, it decreased to $137.11 million by 2022, reflecting various year-on-year variations. The most significant decline occurred in 2017 with a -10.95% change, while the highest growth was seen in 2012 with a 10.88% increase. The last two years saw marginal changes with a 4.88% increase in 2021 and a slight -0.36% decrease in 2022. The compound annual growth rate (CAGR) over the last five years remains relatively stable at 0.34%, indicating a stabilized yet cautious market scenario.
In 2023, the market value stood at $137.11 million, reflecting the actual value from the previous year, thus maintaining stability amid slight percentage variations. Moving forward, the forecasted data from 2024 suggests that the market might experience gradual growth or stabilization.
Future trends to watch for include the impact of technological advancements in baby carriage manufacturing, increasing demand for high-quality and safe products, the influence of birth rates, and evolving consumer preferences emphasizing convenience and multifunctionality.
