The import of domestic food grinders, mixers, and juice extractors to South Korea has shown a consistent increase from 2013 to 2023, starting at 3.1076 million kilograms and reaching 11.51 million kilograms in 2023. The import volume is forecasted to grow continuously, expected to hit 13.882 million kilograms by 2028. Although the year-on-year growth rate has fluctuated over the years, it has averaged out to a 5-year CAGR of 3.65% by 2023, with a projected 5-year CAGR of 2.94% for the following period. Notable is the steady growth even during turbulent years with minor dips and a robust recovery.
Future trends to watch for include:
- Increased demand for health and wellness appliances.
- Technological advancements and innovations in the industry.
- Shifts in consumer preferences towards multifunctional kitchen devices.
- Economic factors influencing import regulations and costs.
