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

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Jul 10, 2024

Australia's Export of Lamb and Sheep Meat Drops Significantly to $3.5 Billion in 2023

Australia Lamb and Sheep Meat Exports

In 2023, the amount of lamb and sheep meat exported from Australia reached 483K tons, growing by 2.4% on the previous year's figure. The total export volume increased at an average annual rate of +1.6% from 2013 to 2023; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2014 when exports increased by 11% against the previous year. Over the period under review, the exports reached the maximum at 495K tons in 2019; however, from 2020 to 2023, the exports failed to regain momentum.

In value terms, lamb and sheep meat exports dropped to $3.5B (IndexBox estimates) in 2023. Overall, total exports indicated a resilient increase from 2013 to 2023: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by +36.4% against 2020 indices. The pace of growth appeared the most rapid in 2017 when exports increased by 28% against the previous year. The exports peaked at $3.7B in 2022, and then shrank 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
China18519392.689.0180253419329395388438
United States183243259252294307307305445552425
South Korea9.616.219.027.444.155.850.857.367.5126107
United Arab Emirates64.682.162.368.981.385.482.971.562.988.687.2
Malaysia37.055.845.745.854.758.662.366.883.611480.3
Japan40.255.537.340.646.855.053.651.552.676.862.2
Saudi Arabia32.754.346.135.747.741.637.731.135.249.456.1
Others1,3251,6161,3051,2621,5801,8101,8301,6241,9082,3452,206
Total1,8772,3161,8671,8222,3292,6672,8432,5373,0493,7393,461

Exports by Country

China (64K tons), the United States (39K tons) and Malaysia (15K tons) were the main destinations of lamb and sheep meat exports from Australia, together comprising 24% of total exports. South Korea, Saudi Arabia, the United Arab Emirates and Japan lagged somewhat behind, together accounting for a further 7.3%.

From 2013 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Korea (with a CAGR of +19.1%), while the other leaders experienced more modest paces of growth.

In value terms, China ($438M), the United States ($425M) and South Korea ($107M) appeared to be the largest markets for lamb and sheep meat exported from Australia worldwide, together comprising 28% of total exports.

South Korea, with a CAGR of +27.3%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination 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) (262K tons) was the largest type of lamb and sheep meat exported from Australia, with a 54% 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 (71K tons), fourfold. Fresh or chilled sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) (64K tons) ranked third in terms of total exports with a 13% share.

From 2013 to 2023, the average annual growth rate of the volume of frozen sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) exports amounted to +1.3%. With regard to the other exported products, the following average annual rates of growth were recorded: frozen sheep (including lamb) boneless cuts (+2.5% per year) and fresh or chilled sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) (+2.7% per year).

In value terms, frozen sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) ($1.6B) remains the largest type of lamb and sheep meat exported from Australia, comprising 45% of total exports. The second position in the ranking was taken by fresh or chilled sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) ($761M), with a 22% share of total exports. It was followed by frozen sheep (including lamb) boneless cuts, with a 17% 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 stood at +6.9%. 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) (+7.1% per year) and frozen sheep (including lamb) boneless cuts (+7.8% per year).

Export Prices by Country

In 2023, the lamb and sheep meat price amounted to $7,162 per ton (FOB, Australia), dropping by -9.6% against the previous year. Overall, export price indicated a tangible increase from 2013 to 2023: its price increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, lamb and sheep meat export price increased by +63.1% against 2016 indices. The most prominent rate of growth was recorded in 2017 an increase of 21%. The export price peaked at $7,920 per ton in 2022, and then shrank 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 ($10,892 per ton), while the average price for exports to Papua New Guinea ($4,258 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 China (+7.6%), 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 THE 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 EditionPRO
  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and its Prospects

    1. MARKET SIZE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    2. MARKET STRUCTURE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    3. TRADE BALANCE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    4. PER CAPITA CONSUMPTION: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    5. MARKET FORECAST TO 2035
  4. 4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION

    Finding New Products to Diversify Your Business

    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCTS
    4. MOST TRADED PRODUCTS
    5. MOST PROFITABLE PRODUCTS FOR EXPORTS
  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    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 Export

    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 VOLUME AND VALUE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    2. IMPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
    3. IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)
  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    2. EXPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
    3. EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)
  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

  11. LIST OF TABLES

    1. Key Findings In 2024
    2. Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    3. Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
    4. Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
    5. Imports, In Physical Terms, By Country, 2012-2024
    6. Imports, In Value Terms, By Country, 2012-2024
    7. Import Prices, By Country, 2012-2024
    8. Exports, In Physical Terms, By Country, 2012-2024
    9. Exports, In Value Terms, By Country, 2012-2024
    10. Exports Prices, By Country, 2012-2024
  12. LIST OF FIGURES

    1. Market Volume, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    2. Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
    3. Market Structure – Domestic Supply Vs. Imports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    4. Market Structure – Domestic Supply Vs. Imports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    5. Trade Balance, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    6. Trade Balance, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    7. Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
    8. Market Volume Forecast to 2035
    9. Market Value Forecast to 2035
    10. Market Size and Growth, by Product
    11. Average Per Capita Consumption, by Product
    12. Exports and Growth, by Product
    13. Export Prices and Growth, by Product
    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: Historical Data (2012–2024) and Forecast (2025–2035)
    23. Production, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    24. Producing Animals: Historical Data (2012–2024) and Forecast (2025–2035)
    25. Yield: Historical Data (2012–2024) and Forecast (2025–2035)
    26. Imports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    27. Imports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    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, 2012-2024
    32. Exports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    33. Exports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    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, 2012-2024

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