Goat meat market in South Korea

Earlier Report Observations

The market for goat meat in South Korea experienced a slight contraction from 2018 to 2020, with volume decreasing from 3 026 metric tons to 2 713 metric tons. During this period, the underlying infrastructure for the meat trade was strengthening, marked by a notable expansion in the number of registered cold storage warehouses and a growing consumer shift towards online platforms for purchasing fresh and frozen foods, which supported market accessibility.

A strong expansion phase began in 2021, driving the market volume to 7 764 metric tons by 2023. This surge was primarily fueled by a sharp rise in imports. A lasting shift in consumer purchasing behavior, characterized by fewer shopping trips but larger basket sizes, supported greater volume purchases of frozen meat. The COVID-19 pandemic underscored the critical importance of reliable cold chain logistics, while a regulatory change from use-by to best-before date labeling heightened industry focus on proper frozen storage. Concurrent growth in the domestic frozen food sector, driven by advanced freezing technology and premium product launches, facilitated the import and storage of frozen goat meat. High inflation in 2023 further boosted consumer demand for frozen protein options, including goat meat.

Import volumes continued their upward trajectory into 2024, reaching 8 143 metric tons. This aligns with ongoing market trends, including the premiumization of convenient frozen food segments and continued advancements in flash-freezing technology that better preserve taste and texture. Broader government strategies to diversify agricultural imports and expand fresh product logistics infrastructure have further supported the availability of goat meat in the market.

Production goat meat in South Korea

In kind, 2017-2020, t

Top producers of goat meat, 2017-2020

World map of production of goat meat, 2017-2020

South Korea produced 1,552 tons of goat meat in 2020, marking a slight 1.0% decrease from 2019. Over the 2017-2020 period, production fell by 14%, with a compound annual growth rate (CAGR) of -4.9%. The most significant drop occurred in 2018, at 13.6%, while 2019 saw a modest increase of 0.5%.

Annual dynamics of production in South Korea in kind, 2017-2020, t

Exports goat meat from South Korea

As noted in market analysis, South Korea did not export any goat meat from 2017 to 2020.

Imports goat meat to South Korea

Imports in kind, t

Goat meat imports into South Korea declined for the third year in a row. In 2020, imports totaled 1,161 tons, down 7.1% year-over-year. From 2017 to 2020, imports decreased by 33.8%, with a CAGR of -12.8%.

Annual dynamics of product's imports to South Korea in kind, 2017-2020, t

From 2017 to 2020, the import market was highly concentrated, with Australia accounting for 97.6% of total goat meat imports by volume.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to South Korea in kind, 2017-2020

Imports in value, K $ US

After two years of decline, the value of goat meat imports into South Korea rose in 2020. Imports reached $9,669,000, up 3.1% from the previous year. Between 2017 and 2020, import value fell by 22.7%, with an annualized rate of -8.2%. The lowest value was recorded in 2019 at $9,381,000, while the largest decline occurred in 2018 at 17.4%.

Annual dynamics of product's imports to South Korea in value, 2017-2020, K $ US

From 2017 to 2020, imports by value were highly concentrated, with Australia making up 98.1% of total goat meat imports to South Korea.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to South Korea in value, 2017-2020