As of 2023, South Korea's pork production at the farm gate stood at $6.24 billion USD. Over the past decade, the sector experienced varied year-on-year growth rates, reflecting economic, health, and market conditions impacting the pork industry. Notably, after reaching a high in 2017, the industry saw fluctuations with a significant drop noted between 2017 and 2019. However, the market showed resilience, with gradual increases from 2020 onwards. Notwithstanding these variations, a generous forecast growth rate is predicted, suggesting a stable CAGR of 1.2% from 2023 to 2028.
Key future trends to watch include:
- Potential impacts of animal health and biosecurity measures.
- Market responses to changing consumer preferences and dietary trends.
- Economic factors influencing production costs and revenue streams.
