The import of Iron or Steel Tableware and Kitchenware to South Korea has demonstrated a steady growth over the years, with some fluctuations. Notably, the import value stood at $376.35 million in 2023. Year-on-year variations indicate consistent growth with few exceptions, such as a notable decline in 2020 (-13.62%). From 2013 to 2023, the Compound Annual Growth Rate (CAGR) hovered around 3.86%. Forecasted values up to 2028 suggest a continued but slightly slower growth, with a forecast 5-year CAGR of 2.51%.
Future trends to watch for include economic factors impacting consumer spending, shifts towards sustainable and durable materials, and the impact of trade policies between South Korea and exporting countries. Additionally, evolving consumer preferences towards innovative and multifunctional kitchenware may drive import dynamics.