Food gross production in South Korea showed a steady growth trajectory from 2024 to 2028, with values increasing from 15.915 billion USD PPP in 2024 to 16.331 billion USD PPP in 2028. The forecasted data indicates a consistent year-on-year increase of approximately 0.66% to 0.67% on average.
For the years 2023 to 2024, the food gross production stood at 15.79 billion USD PPP in 2023, representing a 0.795% year-on-year increase when transitioning into 2024. The following years from 2024 to 2028 continue the upward trend, with year-on-year variations averaging around 0.66% annually.
Considering a compound annual growth rate (CAGR) over the last five years (2024-2028), the average variation per year stands at approximately 0.66%, illustrating moderate but sustained growth.
Future trends to watch for include advancements in agricultural technologies, climate change impacts, policy shifts in food production regulation, and increasing consumer demand for sustainable and locally sourced food products. These factors could potentially influence future production values and growth rates significantly.