Krafth, who left Newcastle United when his contract expired in the summer, has yet to decide where he will continue his club career. He is keen to keep playing at a high level but believes the time is right to make way for Sweden's next generation.
“It feels like the right decision. I want to continue playing football at a high level, but it is time for a new generation to take over in the national team,” he told Aftonbladet.
“The players have done well under a new national team coach, who has done a very good job and brought Sweden back to the basics.”
Krafth's international career ends with 52 appearances, while his immediate future remains open. Having become a free agent after seven years at Newcastle, he has been able to speak to clubs outside the usual transfer windows.
The right-back confirmed that interest has come from both Sweden and abroad, with several Allsvenskan sides among those to have made contact.
“There is interest from both Swedish and foreign clubs. Since I am out of contract, it has also been possible outside the transfer windows. I am not closing any doors, either in Sweden or abroad,” he said.
“It has to feel right for me football-wise and also work with the family situation. Everyone has to be happy.”
A return to Sweden is therefore a genuine possibility, although Krafth is not rushing into a decision. He has also been approached by former club Öster, where he made his breakthrough before moving on to Helsingborg, Bologna, Amiens and Newcastle.
The club made contact, but the timing was not right when the initial approach came.
Krafth's family considerations will be an important part of the decision. His family is based near Ljungby, making a move closer to home an option worth considering as he looks for the right next step.
The international farewell will also give him the chance to catch up with former team-mates, including Emil Forsberg, one of the other players being honoured.
Krafth joked that he would use the occasion to find out what Forsberg's own plans might be, with the possibility of sharing a dressing room again an appealing prospect.
For now, the defender's priority is choosing a club where he can continue playing regularly. His international career is over, but he has made clear that he has no intention of bringing his playing days to an end.
The 32-year-old is among five former internationals who will be recognised by the Swedish Football Association during the Nations League meeting with Bosnia and Herzegovina on November 14.