In South Korea in 2023, approximately *********** people were working in the agricultural industry. The majority of these were farmers and families, with people in forestry and fishery numbering slightly over ************. There were just little less than *********** farming households.

Shrinking number of farmers

The development of manufacturing and high-tech industries in Korea meant the number of people involved in agriculture, forestry, and fishing has been dropping steadily for years. The mainstay of the economy became automobiles, ships, semiconductors, petroleum products, and so on. People in agriculture accounted for approximately ************ of the total population. This rate saw a steady decrease and is expected to fall further. The aging of current farmers and the industry’s unpopularity among younger generations is also having a negative effect. Youths prefer better paying and less physical strenuous occupations in companies or government service, among others. Around half of all farmers are more than 65 years old; this is the typical retirement age in Korea.

Possibilities for growth of Korean agriculture

In recent years, an increased focus on healthy eating and the introduction of technology into agriculture have created the potential for further industry growth. Koreans today are showing greater concern with the food they consume, whether they be grains, vegetables, or meat products. Organic farming and so-called ‘wellbeing’ foods are popular, despite the higher price tags associated with such products, leading to a growing market for organic agriculture and food products.

In 2024, the gross domestic product (GDP) from the agriculture, forestry, and fishing sectors in South Korea amounted to approximately ** trillion South Korean won. The agricultural sector's contribution to GDP has gradually declined from about ** percent in the 1950s to roughly *** percent recently. Agriculture in South Korea The population involved in agriculture and fishing has been shrinking steadily for years as the South Korean economy evolved into a manufacturing and technology industry that produces automobiles, semiconductors, and petroleum products, among other things. As of 2023, there were just around *** million farming households in South Korea. Forestry and fishery families added another combined 141,000 to this figure. Around half of all farmers were more than 65 years old. Growth of smart farming Given these challenges, the agricultural sector is increasingly turning to innovative solutions, such as "smart" farming. This approach differs from traditional agriculture as it leverages advanced technologies for efficient remote management, automation, and large-scale agricultural production. The market size of smart farming is projected to reach approximately *** million U.S. dollars by 2025, representing a sharp increase from just five years earlier.

South Korea: Value added in the agricultural sector as percent of GDP: The latest value from 2023 is 1.6 percent, a decline from 1.64 percent in 2022. In comparison, the world average is 9.91 percent, based on data from 166 countries. Historically, the average for South Korea from 1960 to 2023 is 12.87 percent. The minimum value, 1.6 percent, was reached in 2023 while the maximum of 46.53 percent was recorded in 1964.

Korea Agricultural Land: % of Land Area data was reported at 17.809 % in 2015. This records a decrease from the previous number of 17.935 % for 2014. Korea Agricultural Land: % of Land Area data is updated yearly, averaging 22.403 % from Dec 1961 (Median) to 2015, with 55 observations. The data reached an all-time high of 24.290 % in 1968 and a record low of 17.809 % in 2015. Korea Agricultural Land: % of Land Area data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Korea – Table KR.World Bank: Land Use, Protected Areas and National Wealth. Agricultural land refers to the share of land area that is arable, under permanent crops, and under permanent pastures. Arable land includes land defined by the FAO as land under temporary crops (double-cropped areas are counted once), temporary meadows for mowing or for pasture, land under market or kitchen gardens, and land temporarily fallow. Land abandoned as a result of shifting cultivation is excluded. Land under permanent crops is land cultivated with crops that occupy the land for long periods and need not be replanted after each harvest, such as cocoa, coffee, and rubber. This category includes land under flowering shrubs, fruit trees, nut trees, and vines, but excludes land under trees grown for wood or timber. Permanent pasture is land used for five or more years for forage, including natural and cultivated crops.; ; Food and Agriculture Organization, electronic files and web site.; Weighted average;

In 2023, the total area of farmland in South Korea amounted to around 1.51 million hectares, a slight decrease from 1.53 million hectares in the previous year. The area of farmland in South Korea has been on a declining trend in the last decade. Overview of the agriculture industry While the gross domestic product from agriculture, forestry and fishing has remained stable in Korea, the agricultural sector overall has faced various issues in the last couple of years. Previously known as the most important crop of the country, the per capita consumption of rice has shown a rapid decrease, partly due to changing eating habits. The livestock and dairy sector, on the other hand, has increased greatly in the last five years. Another issue can be noticed in the share of farming household population among the total population, which also decreased in the last four years by around 0.5 percent. As people over 65 years make up over 50 percent of agricultural households, this trend of decreasing households will probably continue with no direct intervention. Agriculture and inflation South Korea’s inflation has remained relatively moderate in the past few decades. Still, the price of essential items, particularly food and clothing, has significantly increased and the price level index currently about 1.6 times above the OECD average. For example, agricultural products such as potatoes, pork, and apples are two to three times more expensive than in other developed countries. This high pricing is often attributed to several factors, including restricted imports of fresh fruits and vegetables, limited availability of agricultural land, and generally low productivity levels within the agricultural sector. Especially low-income households have been disproportionately affected by the rising cost of groceries and have spent over 30 percent of their income on food expenses.

Forecast: Energy Consumption in Agriculture in South Korea 2023 - 2027 Discover more data with ReportLinker!

Forecast: Production of Agriculture, Forestry and Seafood in South Korea 2024 - 2028 Discover more data with ReportLinker!

In 2023, most of the households in the agriculture industry in South Korea were farming households. That year, the country's total number of agricultural households was about one million.

In 2023, about 63.3 percent of the upland farmland in South Korea was cultivated by machinery. That year, the most commonly owned agricultural machine in the country was a cultivator.

In 2020, Agriculture Employment in South Korea was 1445 Thousand Units (Persons). Discover more data with NationMaster!

Inquire into the most up-to-date information of local and foreign agricultural technique.

South Korea Annual Freshwater Withdrawals: Agriculture: % of Total Freshwater Withdrawal data was reported at 58.932 % in 2020. This stayed constant from the previous number of 58.932 % for 2019. South Korea Annual Freshwater Withdrawals: Agriculture: % of Total Freshwater Withdrawal data is updated yearly, averaging 58.932 % from Dec 1990 (Median) to 2020, with 31 observations. The data reached an all-time high of 68.546 % in 1990 and a record low of 54.658 % in 2005. South Korea Annual Freshwater Withdrawals: Agriculture: % of Total Freshwater Withdrawal data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s South Korea – Table KR.World Bank.WDI: Environmental: Water and Wastewater Management. Annual freshwater withdrawals refer to total water withdrawals, not counting evaporation losses from storage basins. Withdrawals also include water from desalination plants in countries where they are a significant source. Withdrawals can exceed 100 percent of total renewable resources where extraction from nonrenewable aquifers or desalination plants is considerable or where there is significant water reuse. Withdrawals for agriculture are total withdrawals for irrigation and livestock production. Data are for the most recent year available for 1987-2002.;Food and Agriculture Organization, AQUASTAT data.;Weighted average;

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Agriculture Analytics Market Size 2024-2028

The agriculture analytics market size is forecast to increase by USD 1.23 billion at a CAGR of 12.97% between 2023 and 2028. The market is experiencing significant growth due to the increasing demand for food production to meet the needs of a growing global population. Infrastructure development, including the integration of artificial intelligence (AI) and smart farming technologies, is a key driver in this market. Smart farming practices, such as field planning and irrigation management, are becoming increasingly important for sustainable agricultural production. However, the high cost of implementing analytics in agriculture remains a challenge for many farmers and agribusinesses, particularly in developing countries. Despite this, the long-term benefits of using data analytics insights to optimize farming practices are expected to outweigh the initial investment costs. By utilizing AI and other advanced technologies, farmers can optimize their operations, improve crop yields, and reduce water usage, ultimately leading to more sustainable and profitable farming practices. The market is expected to continue growing as more farmers adopt these technologies to meet the demands of a changing agricultural landscape.

What will be the Size of the Market During the Forecast Period?

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The market is witnessing significant growth as farmers and agricultural businesses seek to enhance their productivity and efficiency. This market is driven by the increasing demand for food production to meet the growing population and the need to address various challenges in the agricultural sector. Cloud computing and internet of things (IoT) technologies are playing a crucial role in the market. Farmers can now collect vast amounts of data from various sources, including weather data analytics, crop growth monitoring, land preparation, and farm operations. This data is then analyzed using predictive models to optimize farm output and improve efficiency.

Moreover, positioning systems and navigation satellite systems, such as those used in drones, are also contributing to the market. These technologies enable farmers to monitor their crops and livestock with precision, ensuring optimal growth conditions and preventing potential losses. Crop management is a significant application area for agriculture analytics. By analyzing data on soil degradation, climatic conditions, and crop growth patterns, farmers can make informed decisions on land preparation, irrigation, and fertilizer application. This results in improved crop yields and reduced waste. Livestock farming is another area where agriculture analytics is making a significant impact. Livestock analytics provides farmers with insights into animal health and productivity, enabling them to optimize feeding and breeding programs.

Also, this leads to increased profitability and improved animal welfare. Aquaculture analytics is another emerging application area in the market. By monitoring water quality, fish behavior, and environmental conditions, farmers can optimize fish farming operations and reduce the risk of disease outbreaks. The market offers both cloud deployment and on-premises deployment options. Cloud deployment provides farmers with the flexibility to access data and insights from anywhere, while on-premises deployment offers greater control over data security. Data Security is a critical concern in the market. Farmers must ensure that their data is protected from unauthorized access and cyber threats.

Additionally, advanced security measures, such as encryption and access controls, are essential to safeguard sensitive agricultural data. In conclusion, the market is transforming the agricultural sector by providing farmers and agricultural businesses with data-driven insights to optimize their operations, increase productivity, and improve efficiency. The market is driven by the growing demand for food production and the need to address various challenges in the agricultural sector, including climatic conditions, soil degradation, and positioning systems. By leveraging cloud computing, IoT, and advanced analytics techniques, farmers can make informed decisions and improve their bottom line.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Type

  Solutions
  Services


Application

  Precision farming
  Livestock monitoring
  Aquaculture farming
  Vertical farming
  Others


Geography

  North America

    Canada
    US


  Europe

    UK


  APAC

    China
    Japan


  South America



  Middle East and Africa

By Type Insights

The solutions segment is estimated to witness significant growth during the f

Forecast: Agriculture Groundwater Abstraction in South Korea 2024 - 2028 Discover more data with ReportLinker!

The South Korea Agriculture Tractor market is expected to grow with more than 6% CAGR from 2024 to 2029, rugged tractors designed for challenging terrains.

Korea Cereal Yield: per Hectare data was reported at 6,795.200 kg/ha in 2016. This records a decrease from the previous number of 6,814.800 kg/ha for 2015. Korea Cereal Yield: per Hectare data is updated yearly, averaging 5,776.100 kg/ha from Dec 1961 (Median) to 2016, with 56 observations. The data reached an all-time high of 6,814.800 kg/ha in 2015 and a record low of 2,794.100 kg/ha in 1962. Korea Cereal Yield: per Hectare data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s South Korea – Table KR.World Bank.WDI: Agricultural Production and Consumption. Cereal yield, measured as kilograms per hectare of harvested land, includes wheat, rice, maize, barley, oats, rye, millet, sorghum, buckwheat, and mixed grains. Production data on cereals relate to crops harvested for dry grain only. Cereal crops harvested for hay or harvested green for food, feed, or silage and those used for grazing are excluded. The FAO allocates production data to the calendar year in which the bulk of the harvest took place. Most of a crop harvested near the end of a year will be used in the following year.; ; Food and Agriculture Organization, electronic files and web site.; Weighted average;

In 2020, the South Korean province with the most certified organic agricultural farm land was Jeollanam-do, also called Jeonnam, with around 23.77 thousand hectares. Jeonnam is one of South Korea's most prominent agricultural regions.

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Agribusiness Market Size 2025-2029

The agribusiness market size is forecast to increase by USD 843.4 million, at a CAGR of 4.6% between 2024 and 2029.

The market is experiencing significant shifts driven by population growth, which is leading to an increased demand for food production. This trend is placing immense pressure on the industry to find innovative solutions to meet the rising demand, particularly in the context of a shrinking amount of arable land. One response to this challenge is the adoption of automation in agriculture, with technologies such as precision farming, drones, and robotics gaining traction. These solutions aim to optimize resource usage and increase efficiency, enabling farmers to produce more with less land. However, the implementation of automation also presents challenges, including high upfront costs and the need for significant investment in technology and infrastructure.
Additionally, regulatory compliance and data security concerns add complexity to the adoption process. To capitalize on the market opportunities presented by population growth and the need for more efficient agriculture, companies must navigate these challenges and invest in technologies that can help them stay competitive while addressing the sustainability and productivity demands of the industry.

What will be the Size of the Agribusiness Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
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The market continues to evolve, shaped by various dynamics that impact different sectors. Land use patterns are shifting, with an increasing focus on carbon sequestration and sustainable farming practices. Precision agriculture is revolutionizing yield optimization, while food processing and packaging technologies advance to ensure food safety and traceability. Seed production and agricultural biotechnology are driving innovation in crop production, and harvesting equipment is becoming more efficient and eco-friendly. Food security remains a critical concern, leading to the adoption of irrigation systems, biodiversity conservation, and sustainable farming practices. Livestock feed and breeding are undergoing transformations, with a focus on disease prevention and environmental sustainability.

Pest control methods are evolving, with a shift towards more natural and less harmful alternatives. Supply chain management is becoming more complex, with the integration of farm management software and crop rotation techniques. Water conservation is a priority, with new technologies and practices emerging to address this challenge. Agribusiness investment is on the rise, driven by market volatility and price fluctuations due to climate change adaptation and commodity trading. Direct marketing and consumer dietary trends are influencing food distribution, with a growing demand for locally sourced and organic produce. Vertical farming and agricultural finance are gaining traction, offering solutions to land tenure issues and providing access to capital for small-scale farmers.

The ongoing unfolding of these market activities and evolving patterns underscores the continuous nature of the agribusiness landscape.

How is this Agribusiness Industry segmented?

The agribusiness industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Product

  Grains and cereals
  Dairy
  Oilseeds
  Livestock
  Others


Application

  Agrichemicals
  Seed business
  Breeding
  Machinery and equipment


Technology

  Traditional agriculture
  Mechanized farming
  Precision agriculture and smart farming
  Organic and sustainable Farming


Distribution Channel

  Retail chains and supermarkets
  Wholesale distribution
  Direct-to-consumer
  Food processing and manufacturing companies


Farm Size

  Small-Scale Farms
  Medium-Scale Farms
  Large-Scale Farms


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    UK


  Middle East and Africa

    UAE


  APAC

    China
    India
    Japan
    South Korea


  South America

    Argentina
    Brazil


  Rest of World (ROW)

.

By Product Insights

The grains and cereals segment is estimated to witness significant growth during the forecast period.

The market encompasses various sectors, including grains and cereals, dairy production, land use, carbon sequestration, agricultural machinery, organic farming, yield optimization, food security, irrigation systems, biodiversity conservation, supply chain management, livestock feed, livestock breeding, pest control, poultry farming, government subsidies, farm management software, crop rotation, water conservati

Forecast: Agriculture, Forestry and Fishing Value Added in South Korea 2022 - 2026 Discover more data with ReportLinker!

In 2017, the amount of agriculture central driven precision spacing seeders imported into South Korea totaled X units, reducing by -X% against the previous year. In general, imports of agriculture central driven precision spacing seeders continue to indicate a dramatic slump. The most prominent rate of growth was recorded in 2016, an increase of X% against the previous year.