The duck meat slaughtering industry in South Africa has shown notable trends from 2013 to 2023. The industry experienced steady growth with minor variations from 2013 to 2019. However, 2020 saw a significant drop in volume by 4.19%, likely due to the impacts of the COVID-19 pandemic. Post-2020, the industry rebounded with a 6.15% increase in 2021, followed by modest growth rates in 2022 and 2023. As of 2023, the duck meat slaughter volume stood at 485 thousand units.
Key points of analysis:
- Pre-2020, the industry experienced consistent but slow growth, with year-on-year variations usually below 1.5%.
- The most substantial decrease occurred in 2020, with a 4.19% drop.
- Post-2020, recovery was evident with a significant growth of 6.15% in 2021.
- The Compound Annual Growth Rate (CAGR) over the last 5 years (2018-2023) was modest at 0.67%.
- Forecasts from 2024 to 2028 suggest continued moderate growth with a forecasted 5-year CAGR of 0.55% and a total growth rate of 2.78% by 2028.
Looking ahead, key trends to watch for include potential impacts of climate change on agricultural practices, changes in consumer preferences toward plant-based meats, and economic factors affecting production costs. Additionally, monitoring any regulatory changes in animal farming could be crucial for future market dynamics.
