The import of fruits and spores seed for sowing to South Korea stood at 7.6209 million US dollars in 2023. Over the past decade, this market has experienced various fluctuations. Notable year-on-year changes include a 17.87% increase in 2016 and a significant 58.59% spike in 2018. However, the market also saw declines, such as a 29.97% drop in 2015 and an 8.55% decrease in 2019. The Compound Annual Growth Rate (CAGR) over the last five years stood at 0.85%, indicating modest growth. Forecasts from 2024 to 2028 predict an average annual growth rate (CAGR) of 2.08%, culminating in an estimated value of 8.695 million US dollars by 2028.
Future trends to watch for include potential impacts of climate change on agriculture, technological advancements in seed breeding, and any shifts in South Korea’s agricultural policies that might affect import demand for specialized seeds. Observing these factors can help anticipate market dynamics and guide strategic decisions.