In 2023, chicken meat consumption in South Korea stood at 1.17 Million Metric Tons. The forecasted data shows a steady annual increase: from 1.2 Million Metric Tons in 2024 to 1.32 Million Metric Tons by 2028. Year-on-year, the percentage increases are approximately 2.5% per year. Over the past two years (2022: 1.14 Million Metric Tons, 2023: 1.17 Million Metric Tons), the increase in consumption was around 2.5% annually. The Compound Annual Growth Rate (CAGR) for the period 2024-2028 is about 2.4% per year.
Future trends to watch for:
- Shifts in consumer preferences towards healthier meat options.
- Impact of potential trade policies affecting poultry imports.
- Technological advancements in poultry farming improving supply efficiency.
- Increasing popularity of fast-food chains and restaurants specializing in chicken-based dishes.