The import of Bulbs, Tubers, Corms, and Chicory Plant to South Korea experienced fluctuations from 2013 to 2023, starting at $8.38 million in 2013 and reaching $12.79 million in 2023. The value dropped significantly in 2015 (-15.24%), 2019 saw a decrease of 10.49%, but there has been a steady climb since 2018, with consistent small gains over the last few years (2.55% in 2023).
Over the last five years, the Compound Annual Growth Rate (CAGR) was relatively flat at around -0.05%. The forecast predicts continued growth, anticipating a value of $14.29 million by 2028, with a 5-year CAGR of 1.75% leading to an overall growth rate of 9.04% by 2028.
Future Trends to Watch:
- Emerging demand in landscaping and gardening sectors in South Korea, driven by urbanization and increased disposable income.
- Potential impacts of global climate change on agricultural imports.
- Possible policy changes affecting import tariffs and regulations.
