From 2014 to 2023, South Korea's meat demand has shown a steady increase from 3.11 million metric tons to 3.79 million metric tons. Year-on-year growth rates varied, with significant changes such as a 5.43% increase in 2015 and smaller increments like 1.04% in 2023. The Compound Annual Growth Rate (CAGR) over the last five years stood at 0.84%. Forecasts suggest continued, albeit slower, growth, with a projected CAGR of 0.74% from 2024 to 2028, reaching 3.97 million metric tons by 2028.
Future trends to watch for include potential shifts in consumer preferences toward plant-based diets, technological advancements in meat production, and possible regulatory changes. These factors could influence the overall meat demand trajectory in South Korea.
