In 2024, the forecasted centrifugal sugar supply in South Korea is expected to be 2.21 million metric tons. This represents a marginal growth compared to 2023's actual figures. The year-on-year growth from 2024 to 2025 is approximately 0.9%, showing a steady but slow increase. From 2025 to 2026, the annual growth is around 0.45%, and this trend continues with slight increments up to 2028 with a growth rate of 0.89%. The five-year CAGR from 2024 to 2028 is predicted to be around 0.7%.
Future trends to watch include:
- Changes in global sugar prices impacting local supply and demand.
- Technological advancements in sugar production and processing.
- Policy shifts related to agricultural support and tariffs.
- Growing consumer focus on health and reduction of sugar consumption.
