From 2013 to 2023, the import of sugar confectionery to South Korea experienced consistent growth, reaching 57.036 million kilograms in 2023. Notably, the import volume saw a significant early increase, such as in 2014 with a 31.32% rise year-on-year, subsequently experiencing more moderate gains, stabilizing to around 3.63% in 2023.
In the past two years, the year-on-year variation settled, with 3.85% in 2022 and 3.63% in 2023, indicating a steady but slowing growth rate. Over the last five years leading up to 2023, the compound annual growth rate (CAGR) averaged at 4.14%, reflecting moderate expansion.
Looking ahead, the forecasted data suggests a continued increase in sugar confectionery imports, expected to reach 66.453 million kilograms by 2028. The forecasted CAGR over the next five years is 2.41%, indicating a more tempered growth rate compared to previous periods.
Future trends to watch for include shifting consumer preferences towards healthier options, potential trade policy changes, and market dynamics influenced by demographic shifts and economic conditions in South Korea.
