Agriculture - South Korea | Statista Market Forecast

Gross production value in Agriculture market is projected to amount to US$29.37bn in 2025. An annual growth rate of -0.73% is expected (CAGR 2025-2029), resulting in gross production value of US$28.53bn in 2029.
The import value in Agriculture market is projected to amount to US$16.6bn in 2025. An annual growth rate of 2.96% is expected (CAGR 2025–2029).
The export value in Agriculture market is projected to amount to US$3.1bn in 2025. An annual growth rate of 3.38% is expected (CAGR 2025–2029).

Definition:

The agriculture market refers to the economic activities involved in the production of agricultural products. This includes the gross production value of crops such as cereals, fruit, vegetables, and oil crops, as well as livestock and dairy products.

Structure:

The agriculture market comprises seven distinct markets that represent a wide range of agricultural products:

The cereal market encompasses more than 10 items including barley, rice, oats, rye, and other similar grains.
The vegetable market includes more than 15 items such as avocado, beans, and cabbage, among others.
The fruits market covers over 30 items including popular fruits like apples, apricots, bananas, cherries, and so on.
The oil crops market consists of more than 5 items such as olives, soya beans, sunflower seeds, linseeds, and other similar crops.
The meat market includes over 10 items such as cattle, chickens, goats, sheep, pigs, and others.
The milk market represents different types of milk produced by cattle, goats, sheep, buffalo, and camel.
The other Livestock Products market encompasses 5 items, including eggs, honey, wool, beeswax, and silk-worm cocoons.
The forestry market encompasses more than 10 items, including raw materials, processed timber, engineered wood products, pulp and paperboard products.

Additional Information:

The market comprises gross production value and gross production value growth rates, import and export value. Data is only provided for the countries that are active in the above-mentioned markets. The market only displays B2B values.

The term "Revenue" in the title of the charts and chapter refers to the gross production value within this market.

Cereals
Vegetables
Fruit
Oil Crops
Meat
Milk
Other Livestock Products
Forestry

Agriculture: market data & analysis

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.

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.

This report presents a comprehensive analysis and additional information on the Industrial market, in a PDF format.

In the last few years, the agriculture sector has contributed over 200 billion U.S. dollars in net added value to the U.S. GDP annually. Alone in 2023, the export value of agriculture products in the U.S. amounted to over 170 billion U.S. dollars. As a result of very diverse climates, and natural resources, the ecosystem in the United States can support a variety of different crops. Corn is the leading crop in terms of production volume in the United States. Soybeans are another major crop produced in the U.S., and one which has exhibited an upward trend in production over the last two decades.

Agriculture - South Korea

Revenue

Trade

Analyst Opinion

Global Comparison

Methodology

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