In 2023, the import of roses to South Korea stood at 52.79 thousand kilograms. Reviewing the data from previous years, significant fluctuations can be observed with a general upward trend in the volume of imports. Between 2013 and 2023, imports experienced a sharp increase, particularly from 2014 to 2015 and from 2016 onwards. The past two years saw a steady growth: 5.86% in 2022 and 5.42% in 2023, indicating stable demand. The Compound Annual Growth Rate (CAGR) over the last five years was around 5.35%, pointing towards a continuous but moderating growth trend.
Looking ahead, forecast data suggest a steady rise in imports, with an expected volume of 65.57 thousand kilograms by 2028. The forecasted 5-year CAGR is 3.41%, with an aggregate growth rate of 18.25% over the same period. Although the pace of growth is slowing, the market for imported roses remains resilient.
Future trends to watch for include:
- Impact of global supply chain issues on import volumes.
- Changes in consumer preferences and potential growth in domestic rose cultivation.
- Economic factors influencing import capacity and spending power.
