Analyzing the forecasted demand for sugar cane in South Korea from 2024 to 2028, we observe that the projected value remains constant at 1.0 Thousand Metric Tons annually. For comparison, the actual demand in 2023 was reported at 1.0 Thousand Metric Tons. This implies no year-on-year variation over the last two years, as well as no compound annual growth rate (CAGR) over the past five years, indicating a stable market.
Future trends to watch for include:
- Potential shifts in domestic agricultural policies impacting sugar cane production.
- Changes in consumer preferences towards alternative sweeteners, which may affect demand.
- Impact of international trade agreements and tariffs on the import of sugar cane.
- Technological advancements in sugar cane farming that could influence local production efficiency and output.
