The domestic consumption of soybean meal in South Korea is forecasted to be stable at 25.0 thousand metric tons for both 2024 and 2025, with a slight increase to 26.0 thousand metric tons from 2026 to 2028. In 2023, the actual consumption stood at 25.0 thousand metric tons. Year-on-year variation shows no change from 2024 to 2025 and a 4% increase for the following years. Over the last two years, there's a cumulative growth trend of 4%, with a Compound Annual Growth Rate (CAGR) of approximately 1.6% over the forecasted five-year period.
Future Trends to Watch:
Stay alert for any shifts in dietary habits in South Korea, which may influence demand for plant-based protein sources. Changes in trade policies or agricultural practices could also impact domestic soybean meal consumption. Watch out for technological advancements in food production which may lead to increased efficiency and altered consumption patterns.
