The mutton and goat meat market in South Korea has shown stable consumption volumes from 2014 to 2017, with each year recording 7.0 thousand metric tons. There was a significant increase of 28.57% in 2018 when the volume reached 9.0 thousand metric tons, maintaining this level through 2023.
In 2023, the volume remained steady at 9.0 thousand metric tons, indicating no year-on-year growth compared to the previous years. Between 2018 and 2023, the market experienced a compound annual growth rate (CAGR) of 5.15%. As we look forward to the forecasted years, the market is expected to see a gradual increase, reaching 10.0 thousand metric tons by 2027 and maintaining this volume through 2028. The forecasted CAGR from 2024 to 2028 is 2.13%, with an overall expected growth of 11.11% by 2028.
Future Trends to Watch For:
- Consumer preferences shifting towards high-quality meat products.
- Potential impact of import regulations on meat supply.
- Changing dietary trends and health awareness influencing meat consumption patterns.
- Technological advancements in meat production and processing.
- Environmental and sustainability concerns affecting livestock farming practices.
