The duck meat slaughtering industry in South Korea experienced significant fluctuations from 2013 to 2023, with volumes peaking in 2013 at 34.2 million heads before falling drastically in 2014. The following years showed a mix of moderate growth and declines, with a slight stabilization around 26.7 million heads by 2023. The year-on-year variations ranged from substantial decreases to modest recoveries, demonstrating volatility in the market. The compound annual growth rate (CAGR) over the last five years leading up to 2023 stands at a modest -2.42%, indicating an overall decline trend.
Looking forward, the forecasted data suggests a nearly flat trend with minor decreases each year. The year-on-year variation continues to show tiny declines, and the projected CAGR for the next five years is a minor -0.16%. The overall average growth rate is also forecasted to decline by -0.78%.
Key future trends to watch for:
- Potential impact of consumer preferences shifting towards alternative protein sources.
- Possible changes in agricultural policies affecting poultry production.
- Economic factors such as inflation and feed costs influencing slaughtering volumes.
- Environmental and health regulations that might impact production practices.
