The data on poultry meat slaughtering in South Korea reveals consistent growth over the past decade, with an increase from 825.37 million units in 2013 to 1146.5 million units in 2023. From 2013 to 2016, there was steady growth, peaking in 2015, but saw a slight decline in 2017. Post-2017, the figures rebounded and continued an upward trend. There were fluctuations, such as in 2020, when there was a small dip, followed by a significant recovery in 2021. The average annual growth rate (CAGR) over the last five years is approximately 2.07%.
The projected data from 2024 through 2028 shows continued growth, with 1271 million units forecasted by 2028. The average forecasted annual growth rate over the next five years is expected to be around 1.62%, reflecting a more moderate but steady increase.
Future trends to watch include potential impacts of changes in consumer preferences towards plant-based diets, advancements in poultry farming technology, and policy changes that could affect production capacities and market dynamics.
