Analysis of cheese production in South Korea indicates that the forecasted volume for 2024 is 46.0 thousand metric tons, an increase from the actual volume of 45.0 thousand metric tons in 2023, marking a 2.22% year-on-year growth. This upward trend continues with projections showing incremental rises up to 49.0 thousand metric tons by 2028. From 2023 to 2025, the year-on-year growth is steady at around 2.17%, while from 2026 to 2027, it stabilizes with no growth, resuming at 2.08% in 2028. Overall, the Compound Annual Growth Rate (CAGR) is about 1.85% for the five-year period from 2024 to 2028.
Future trends to watch for include potential market saturation, evolving consumer preferences towards plant-based alternatives, and potential impacts of global trade policies on import and export dynamics.
