The millet feed market in South Korea has experienced significant fluctuations over the past decade. Starting at 5 thousand metric tons in 2014, the market saw a significant decline to 3 thousand metric tons by 2017. A brief recovery followed, with volume stabilizing at 4 thousand metric tons from 2019 onwards. In 2023, the volume remained constant at 4 thousand metric tons, with a year-on-year variation of 0% and a five-year CAGR of -4.36%.
- From 2014 to 2017, the market saw considerable declines, with the most notable year-on-year drop of 25% in 2017.
- There was a brief surge in 2018, with a 66.67% increase, followed by a stabilization period.
- Since 2019, the market has held steady at 4 thousand metric tons, showing no growth or decline up to 2023.
Looking to the future, the market is forecasted to maintain its current volume of 4 thousand metric tons through 2028, with a zero growth rate and flat five-year CAGR at 0%. As the market stabilizes, key trends to watch include shifts in agricultural practices, demand in related sectors, and potential policy changes affecting feed use.
