The crustaceans feed market in South Korea saw varying trends between 2014 and 2023. Values fluctuated initially, peaking at 6.26 Thousand Metric Tons in 2016, followed by a decline and stabilization around 4.44 Thousand Metric Tons between 2017 and 2020. The volume slightly increased to 4.61 Thousand Metric Tons in 2023, representing a minimal year-on-year variation of 0.22%. Overall, from 2019 to 2023, the compound annual growth rate (CAGR) was modest at 0.75%.
Over the next five years, the forecast predicts a gradual increase in volume from 4.62 Thousand Metric Tons in 2024 to 4.64 Thousand Metric Tons in 2028, translating to a CAGR of 0.09% and an overall growth rate of 0.43%.
Future trends to watch for:
- Technological advancements in aquaculture feed production
- Rising demand for sustainable and high-quality crustaceans feed
- Regulations and policies affecting feed ingredients and their availability
