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Australia - Lamb And Sheep Meat - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Feb 1, 2025

Australia - Lamb And Sheep Meat - Market Analysis, Forecast, Size, Trends and Insights

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May 23, 2024

Australia's Lamb and Sheep Meat Export Revenue Drops 8% to $3B in 2023

Australia Lamb and Sheep Meat Exports

In 2023, exports of lamb and sheep meat from Australia skyrocketed to 574K tons, rising by 25% on 2022. The total export volume increased at an average annual rate of +3.3% over the period from 2013 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, lamb and sheep meat exports shrank to $3B (IndexBox estimates) in 2023. Over the period under review, total exports indicated a tangible increase from 2013 to 2023: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 28%. The exports peaked at $3.2B in 2022, and then reduced in the following year.Australia Lamb and Sheep Meat Exports By Country (Million USD)

COUNTRYExport Value of Lamb and Sheep Meat in Australia (million USD)
20132014201520162017201820192020202120222023
China372385187179361507843661826671732
United States367485520506589615615612884934697
United Arab Emirates128162145151167177165144143166180
South Korea19.232.238.255.088.8112102115135215179
Malaysia73.911292.592.1109118125134167195127
Japan80.111074.581.393.6110107103105136101
Saudi Arabia65.010894.276.495.783.275.662.769.384.997.6
Others771921752681825947806708720807844
Total1,8772,3161,9041,8222,3292,6692,8392,5393,0493,2092,958

Exports by Country

China (197K tons) was the main destination for lamb and sheep meat exports from Australia, accounting for a 34% share of total exports. Moreover, lamb and sheep meat exports to China exceeded the volume sent to the second major destination, the United States (80K tons), twofold. The third position in this ranking was held by Malaysia (32K tons), with a 5.5% share.

From 2013 to 2023, the average annual rate of growth in terms of volume to China stood at +5.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+4.6% per year) and Malaysia (+5.3% per year).

In value terms, the largest markets for lamb and sheep meat exported from Australia were China ($732M), the United States ($697M) and the United Arab Emirates ($180M), together comprising 54% of total exports. South Korea, Malaysia, Japan and Saudi Arabia lagged somewhat behind, together accounting for a further 17%.

In terms of the main countries of destination, South Korea, with a CAGR of +25.0%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Exports by Type

Frozen sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) (327K tons) was the largest type of lamb and sheep meat exported from Australia, accounting for a 57% share of total exports. Moreover, frozen sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) exceeded the volume of the second product type, frozen sheep (including lamb) boneless cuts (89K tons), fourfold. The third position in this ranking was held by fresh or chilled sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) (67K tons), with a 12% share.

From 2013 to 2023, the average annual rate of growth in terms of the volume of frozen sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) exports totaled +3.6%. With regard to the other exported products, the following average annual rates of growth were recorded: frozen sheep (including lamb) boneless cuts (+4.6% per year) and fresh or chilled sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) (+3.2% per year).

In value terms, frozen sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) ($1.3B) remains the largest type of lamb and sheep meat exported from Australia, comprising 44% of total exports. The second position in the ranking was held by fresh or chilled sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) ($641M), with a 22% share of total exports. It was followed by frozen sheep (including lamb) boneless cuts, with a 16% share.

From 2013 to 2023, the average annual growth rate of the value of frozen sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) exports totaled +5.0%. With regard to the other exported products, the following average annual rates of growth were recorded: fresh or chilled sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) (+5.3% per year) and frozen sheep (including lamb) boneless cuts (+5.5% per year).

Export Prices by Country

In 2023, the lamb and sheep meat price amounted to $5,151 per ton (FOB, Australia), which is down by -26.4% against the previous year. Overall, export price indicated slight growth from 2013 to 2023: its price increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 an increase of 24% against the previous year. The export price peaked at $6,998 per ton in 2022, and then dropped sharply in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($8,732 per ton), while the average price for exports to Papua New Guinea ($3,131 per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+3.9%), while the prices for the other major destinations experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for lamb and sheep meat in Australia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • FCL 977 - Meat of sheep

Country coverage:

  • Australia

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in Australia
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. COUNTRIES WITH TOP YIELDS
    4. TOP EXPORTING COUNTRIES
    5. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION, PRODUCING ANIMALS AND YIELD

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2024
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2024
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2024
    2. Market Volume, In Physical Terms, 2012–2024
    3. Market Value, 2012–2024
    4. Per Capita Consumption In 2012-2024
    5. Imports, In Physical Terms, By Country, 2012–2024
    6. Imports, In Value Terms, By Country, 2012–2024
    7. Import Prices, By Country Of Origin, 2012–2024
    8. Exports, In Physical Terms, By Country, 2012–2024
    9. Exports, In Value Terms, By Country, 2012–2024
    10. Export Prices, By Country Of Destination, 2012–2024

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2024
    2. Market Value, 2012–2024
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
    5. Trade Balance, In Physical Terms, 2012-2024
    6. Trade Balance, In Value Terms, 2012-2024
    7. Per Capita Consumption, 2012-2024
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Yield And Growth
    16. Exports And Growth
    17. Export Prices And Growth
    18. Market Size And Growth
    19. Per Capita Consumption
    20. Imports And Growth
    21. Import Prices
    22. Production, In Physical Terms, 2012–2024
    23. Production, In Value Terms, 2012–2024
    24. Producing Animals Slaughtered, 2012–2024
    25. Yield, 2012–2024
    26. Imports, In Physical Terms, 2012–2024
    27. Imports, In Value Terms, 2012–2024
    28. Imports, In Physical Terms, By Country, 2024
    29. Imports, In Physical Terms, By Country, 2012–2024
    30. Imports, In Value Terms, By Country, 2012–2024
    31. Import Prices, By Country Of Origin, 2012–2024
    32. Exports, In Physical Terms, 2012–2024
    33. Exports, In Value Terms, 2012–2024
    34. Exports, In Physical Terms, By Country, 2024
    35. Exports, In Physical Terms, By Country, 2012–2024
    36. Exports, In Value Terms, By Country, 2012–2024
    37. Export Prices, By Country Of Destination, 2012–2024

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