Based on the data provided, the domestic consumption of cotton in South Korea is expected to decline steadily from 2024 to 2028. The 2023 value stood at 450.0 thousand units (480 lb. Bales). In 2024, the forecasted consumption is 391.0 thousand units, indicating a drop of approximately 13.1% from 2023. The subsequent years show a continued decline: 334.0 thousand units in 2025 (-14.6% YoY), 278.0 thousand units in 2026 (-16.8% YoY), 223.0 thousand units in 2027 (-19.8% YoY), and 168.0 thousand units in 2028 (-24.7% YoY). Over the five-year period from 2024 to 2028, the compound annual growth rate (CAGR) demonstrates an average annual decrease of approximately 17.3%.
Future trends to watch for include changes in consumer preferences toward sustainable and alternative fibers, potential impacts of technological advancements in textile manufacturing, and policy shifts aiming to support sustainability within the fashion and textile industry. Additionally, global market dynamics and trade policies could further influence South Korea's cotton consumption significantly. Monitoring these factors will be crucial for anticipating further shifts in the cotton market.
