The poultry meat production in South Korea has shown a steady increase from 2013, reaching 683.06 thousand metric tons in 2023, with an average annual growth rate of 2.49% over the last five years. Historical data reveals significant fluctuations with a notable dip in 2017 but an overall growth trend.
Forecasts indicate continued growth at a moderate pace, projecting a production of 742.63 thousand metric tons by 2028, implying a forecasted 5-year CAGR of 1.33% and a cumulative growth rate of 6.84% over five years.
Key Points
- 2013-2023 CAGR: 2.49%
- 2013-2023 Year-on-Year Increase (2023): 1.8%
- 2024-2028 Forecasted 5-Year CAGR: 1.33%
- 2024-2028 Forecasted Average Annual Growth Rate: 6.84%
Future trends to watch include potential impacts of disease outbreaks, changes in consumer demand towards plant-based proteins, and policy shifts promoting sustainable practices. Monitoring these factors will be crucial for understanding and predicting future market dynamics.
