Between 2013 and 2023, the chicken meat slaughtering industry in South Korea experienced varying growth rates. From a value of 791.16 million units in 2013, it reached 1119.8 million units by 2023. The industry saw substantial growth in the early years, but witnessed fluctuations with some declines in 2017 and 2020. Most notably, the year-on-year growth was highest in 2014 at 11.9%, and the industry faced a decline of -5.69% in 2017. Over the last two years, the average yearly growth was around 2.2%, and the compound annual growth rate (CAGR) over the last five years stood at approximately 2.19%.
Looking forward, the forecast suggests moderate growth. From 2024 to 2028, the industry is expected to grow with a five-year CAGR of 1.66%, resulting in an overall growth rate of 8.6%. By 2028, the volume is projected to reach 1244.6 million units.
Future trends to watch for include technological advancements in slaughtering processes, potential policy changes impacting the agricultural sector, and fluctuations in domestic demand influenced by consumer preferences and health trends.
