Fish meal domestic consumption in South Korea is forecasted to show a gradual increase from 2024 to 2028. Starting at 61.0 thousand metric tons in 2024, consumption is expected to rise to 62.0 thousand metric tons in 2025 and 2026, followed by 63.0 thousand metric tons in 2027 and 2028. In comparison, the actual value in 2023 stood at 60.0 thousand metric tons.
Year-on-year variations:
- 2024-2025: +1.6%
- 2025-2026: 0%
- 2026-2027: +1.6%
- 2027-2028: 0%
Average annual growth rate (CAGR) forecasted over the period 2024-2028 stands at approximately 0.81%, indicating a steady yet modest growth trend.
Future trends to watch for include advancements in fish farming technologies, potential shifts in dietary preferences, and regulatory changes that may impact the supply chain and consequently the demand for fish meal.
