Agriculture - South Korea

  • South Korea
  • Gross production value in Agriculture market is projected to amount to €26.76bn in 2025. An annual growth rate of -0.74% is expected (CAGR 2025-2029), resulting in gross production value of €25.98bn in 2029.
  • The import value in Agriculture market is projected to amount to €15,140.0m in 2025. An annual growth rate of 2.95% is expected (CAGR 2025–2029).
  • The export value in Agriculture market is projected to amount to €2,852.0m in 2025. An annual growth rate of 3.37% is expected (CAGR 2025–2029).

Key regions: United States, Brazil, Germany, Italy, Spain

 
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Analyst Opinion

The Agriculture market in South Korea is witnessing steady performance, influenced by factors like technological advancements in farming practices, a growing focus on sustainable agriculture, and increasing consumer demand for locally sourced, high-quality produce.

Customer preferences:
Consumers in South Korea are increasingly prioritizing organic and sustainably produced food, reflecting a growing awareness of health and environmental concerns. This shift is particularly pronounced among younger generations, who are more inclined to support local farmers and seek out eco-friendly products. Additionally, the rise of urban farming and community-supported agriculture (CSA) programs highlights a cultural movement towards self-sufficiency and connection to food sources. These trends signify a broader transformation in consumer behavior, emphasizing quality, transparency, and sustainability in agriculture.

Trends in the market:
In South Korea, the Agriculture Market is experiencing a surge in demand for organic and locally sourced produce, driven by consumers' increasing focus on health and environmental sustainability. There is a notable rise in urban farming initiatives and community-supported agriculture (CSA) programs, fostering stronger connections between consumers and local farmers. This trend reflects a significant cultural shift towards transparency in food sourcing and a preference for eco-friendly practices. For industry stakeholders, these developments imply a need to adapt to changing consumer preferences, invest in sustainable practices, and enhance direct-to-consumer sales channels.

Local special circumstances:
In South Korea, the Agriculture Market is uniquely shaped by its mountainous terrain and limited arable land, which encourages innovative farming techniques such as vertical farming and greenhouse cultivation. The cultural emphasis on fresh, seasonal ingredients fuels demand for local produce, while strict food safety regulations ensure high quality and traceability. Additionally, the government actively supports sustainable practices through subsidies and initiatives, fostering a robust environment for organic farming. These local factors collectively drive a dynamic market focused on health-conscious and environmentally friendly consumption.

Underlying macroeconomic factors:
The Agriculture Market in South Korea is significantly influenced by macroeconomic factors such as global trade dynamics, national economic stability, and government fiscal policies. The ongoing push for agricultural innovation is supported by a strong national economy, which allocates resources toward research and development in sustainable farming practices. Moreover, international trade agreements facilitate the import of advanced agricultural technologies, enhancing productivity. Fluctuations in global commodity prices also impact local farmers' profitability, while rising consumer demand for organic products aligns with global health trends. Lastly, government incentives for eco-friendly practices further stimulate growth in the sector, promoting resilience against economic uncertainties.

Methodology

Data coverage:

The data encompasses B2B. Figures are based on the value of gross production in the agriculture market, which values of production are calculated by multiplying gross production by output prices at the farm gate.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use resources from the Statista platform as well as annual financial reports of the market-leading companies and industry associations, third-party studies and reports, national statistical offices, international institutions, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting agriculture products due to the non-linear growth of this market, especially because of the direct impact of climate change on the market.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.

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