The poultry meat market in South Korea has experienced varied growth patterns over the past decade. After marked increases from 2013 to 2018, with compound annual growth rates (CAGR) peaking at 12.93% in 2013, the period from 2019 to 2023 saw a notable slowdown. In 2019 and 2020, the market experienced significant contractions, but there was a gradual recovery with stable yet modest growth from 2021 to 2023. In 2023, the poultry meat market stood at 1.4 billion euros, indicating positive but slow growth, with a CAGR of -5.70% over the last five years. For the forecast period from 2024 to 2028, a projected CAGR of 1.66% suggests modest growth, highlighting a recovery trend in the industry.
Future trends to watch for include advancements in poultry production technology, increased focus on sustainable farming practices, and evolving consumer preferences towards healthier and locally produced poultry products. These factors could significantly influence market dynamics and potentially drive higher growth rates in the years ahead.
