The poultry meat market in South Korea stood at 879.0 thousand metric tons in 2023. Over the past decade, the market has shown a steady growth, with notable year-on-year increases until 2019, and a more stabilized and modest growth pattern observed in the subsequent years. The market's average annual growth rate, or CAGR, was 0.32% over the last five years. For 2023, the year-on-year variation was 0.46%, indicating a slight yet steady increase. The forecast from 2024 to 2028 predicts a continued gradual rise, with a 5-year CAGR of 0.29% and an overall growth rate of 1.47% by 2028.
Future trends to watch for:
- Changes in consumer dietary preferences affecting poultry demand.
- Potential impacts of policies and regulations on poultry farming and trade.
- Technological advancements in poultry farming leading to increased efficiency.
