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

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

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Jul 20, 2024

Australia's Sheep and Goat Meat Exports Plummet 21% to $3.1 Billion in 2023

Australia Sheep And Goat Meat Exports

For the third year in a row, Australia recorded growth in shipments abroad of sheep and goat meat, which increased by 23% to 608K tons in 2023. The total export volume increased at an average annual rate of +3.1% from 2013 to 2023; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, sheep and goat meat exports shrank rapidly to $3.1B (IndexBox estimates) in 2023. In general, total exports indicated temperate growth from 2013 to 2023: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 28%. Over the period under review, the exports reached the maximum at $3.9B in 2022, and then dropped remarkably in the following year.Australia Sheep And Goat Meat Exports By Country (Million USD)

COUNTRYExport Value of Sheep And Goat Meat in Australia (million USD)
20132014201520162017201820192020202120222023
United States4396106396017187047326691,0181,203769
China372391192183364508840659795777727
South Korea24.541.246.963.2100120112123155286220
United Arab Emirates151184135150171188173137134180188
Malaysia78.711492.392.5110117125134168227129
Japan81.811376.783.696.4113110106110157103
Saudi Arabia66.110992.771.695.482.975.662.370.499.2102
Canada61.272.270.360.174.777.380.187.811314390.6
Others757900705666796892760658668848786
Total2,0322,5342,0501,9722,5262,8033,0072,6373,2313,9213,115

Exports by Country

China (194K tons), the United States (101K tons) and Malaysia (32K tons) were the main destinations of sheep and goat meat exports from Australia, with a combined 54% share of total exports. South Korea, the United Arab Emirates, Saudi Arabia, Japan and Canada lagged somewhat behind, together comprising a further 18%.

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 +19.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for sheep and goat meat exported from Australia were the United States ($769M), China ($727M) and South Korea ($220M), with a combined 55% share of total exports.

South Korea, with a CAGR of +24.5%, recorded the highest rates of growth with regard to the value of exports, among 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

Lamb and sheep meat (574K tons) was the largest type of sheep and goat meat exported from Australia, with a 94% share of total exports. Moreover, lamb and sheep meat exceeded the volume of the second product type, goat meat (34K tons), more than tenfold.

From 2013 to 2023, the average annual rate of growth in terms of the volume of lamb and sheep meat exports stood at +3.4%.

In value terms, lamb and sheep meat ($3B) remains the largest type of sheep and goat meat exported from Australia, comprising 95% of total exports. The second position in the ranking was held by goat meat ($158M), with a 5.1% share of total exports.

From 2013 to 2023, the average annual rate of growth in terms of the value of lamb and sheep meat exports amounted to +4.7%.

Export Prices by Country

In 2023, the sheep and goat meat price stood at $5,125 per ton (FOB, Australia), dropping by -35.5% against the previous year. Over the period under review, export price indicated modest growth from 2013 to 2023: its price increased at an average annual rate of +1.2% 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 when the average export price increased by 21% against the previous year. Over the period under review, the average export prices hit record highs at $7,945 per ton in 2022, and then contracted rapidly in the following year.

There were significant differences in the average prices for the major export markets. In 2023, amid the top suppliers, the country with the highest price was the United States ($7,650 per ton), while the average price for exports to Papua New Guinea ($3,119 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 (+4.1%), 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 sheep and goat 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 1017 - Goat meat
  • 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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