The pork consumption at the farm gate in South Korea stood at 1.36 million metric tons in 2023 and has shown variable trends over the past decade. Between 2013 and 2023, the market experienced both growth and decline with notable year-on-year variations. Significant growth was observed in 2018 with a 10.78% increase, while 2020 saw a sharp decline of 6.06%. The last two years (2022 and 2023) showed minimal growth of 0.65% and 0.61%, respectively. Over the last five years, the CAGR was -0.5%, indicating a slight downward trend.
Future trends to watch for in the South Korean pork consumption market include:
• The projected CAGR for the next five years is 0.39%, indicating a stabilization or modest growth.• Potential impacts of global trade dynamics, changes in consumer preferences, and technological advancements in farming practices.• Possible shifts driven by economic factors and evolving dietary trends towards plant-based alternatives.
