Forecast: Export of Herbicides, Anti-Sprouting Products and Plant-Growth Regulators from South Korea

The export volume of herbicides, anti-sprouting products, and plant-growth regulators from South Korea fluctuated from 2013 to 2023, starting from 3.4693 million kilograms in 2013 and decreasing to 2.9088 million kilograms in 2023. Notable year-on-year variations include a significant dip of 30.17% in 2014, a rebound in 2016 with a 30.97% rise, and a sharp fall of 32.49% in 2018. Over the past five years, the compound annual growth rate (CAGR) has been relatively stable but slightly negative, averaging at a yearly decline of around 0.02%.

Future trends indicate a continued slight decline in export volume, with the forecasted CAGR for the next five years being -0.02%. It will be essential to monitor potential market influences, such as changes in global agricultural practices, advancements in alternative pest control methods, and possible regulatory changes impacting the production and use of these products.

Key trends to watch for:

  • Potential shifts towards organic and eco-friendly farming methods.
  • Technological innovations in agriculture that might impact the demand for traditional herbicides and plant-growth regulators.
  • Regulatory changes both domestically and internationally that could affect export capacity and market access.