Goat Meat Market Overview in South Korea
In value terms, goat meat production stood at $ in 2019 estimated in export prices. In general, production saw a slight increase. Over the period under review, production reached the maximum level at $ in 2013; however, from 2014 to 2019, production failed to regain the momentum.
In 2019, the average yield of goat meat in South Korea was estimated at kg per head, approximately equating 2018. In general, the yield saw a relatively flat trend pattern. The goat meat yield peaked at kg per head in 2007; afterwards, it flattened through to 2019.
In 2019, the number of animals slaughtered for goat meat production in South Korea shrank modestly to heads, which is down by -% on 2018. Overall, the number of producing animals recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the number of producing animals increased by % year-to-year. As a result, the amount of producing animals attained the peak level of heads. From 2018 to 2019, the growth of this number remained at a lower figure.
The value of the goat meat market in South Korea shrank slightly to $ in 2019, waning by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2014 with an increase of % y-o-y. Goat meat consumption peaked at $ in 2017; however, from 2018 to 2019, consumption stood at a somewhat lower figure.