Forecast: Production in Packaging Paper by Size Class in South Korea

The packaging paper production in South Korea stood at 1.6404 Trillion South Korean Wons in 2023. Over the past few years, there have been fluctuations in the production values, with significant declines in 2020 (-16.41%) followed by a notable recovery in 2021 (21.32%). The production gradually increased, showing modest growth rates of 0.67% in 2022 and 0.66% in 2023.

Looking at the long-term perspective, the Compound Annual Growth Rate (CAGR) from 2019 to 2023 was 0.43%. Forecasted values indicate a continued gradual growth, with a forecasted CAGR of 0.53% over the next five years, leading to an estimated growth rate of 2.67% by 2028.

Future trends to watch for include:

• Impact of sustainable and eco-friendly packaging solutions driving demand.
• Technological advancements in production efficiency and output.
• Changes in global trade policies and their effect on export potential.
• Shifts in consumer behavior towards digital and e-commerce influencing packaging needs.