ASEAN: Market for Lamb and Sheep Meat 2024

Market Size for Lamb and Sheep Meat in ASEAN

The ASEAN lamb and sheep meat market fell modestly to $X in 2021, remaining relatively unchanged against the previous year. The total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -8.2% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Production of Lamb and Sheep Meat in ASEAN

In value terms, lamb and sheep meat production stood at $X in 2021 estimated in export price. The total production indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -15.4% against 2019 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by 21% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Indonesia (X tons) remains the largest lamb and sheep meat producing country in ASEAN, accounting for 93% of total volume. Moreover, lamb and sheep meat production in Indonesia exceeded the figures recorded by the second-largest producer, Myanmar (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume in Indonesia stood at +2.6%. In the other countries, the average annual rates were as follows: Myanmar (-13.9% per year) and Malaysia (+5.9% per year).

The average lamb and sheep meat yield skyrocketed to X kg per head in 2021, with an increase of 22% against the previous year's figure. Overall, the yield, however, continues to indicate a relatively flat trend pattern. Over the period under review, the lamb and sheep meat yield attained the peak level at X kg per head in 2017; however, from 2018 to 2021, the yield remained at a lower figure.

In 2021, the number of animals slaughtered for lamb and sheep meat production in ASEAN reduced dramatically to X heads, declining by -16.1% compared with the previous year's figure. This number increased at an average annual rate of +2.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 when the number of producing animals increased by 18% against the previous year. As a result, the amount of producing animals attained the peak level of X heads. From 2019 to 2021, the growth of this number remained at a somewhat lower figure.

Exports of Lamb and Sheep Meat

Exports in ASEAN

After four years of growth, overseas shipments of lamb and sheep meat decreased by -4.8% to X tons in 2021. Total exports indicated a noticeable increase from 2012 to 2021: its volume increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +116.5% against 2016 indices. The pace of growth appeared the most rapid in 2019 with an increase of 43% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2020, and then shrank modestly in the following year.

In value terms, lamb and sheep meat exports expanded remarkably to $X in 2021. Over the period under review, exports, however, showed measured growth. The growth pace was the most rapid in 2017 with an increase of 45% against the previous year. The level of export peaked in 2021 and is likely to see gradual growth in the near future.

Exports by Country

Singapore was the major exporter of lamb and sheep meat in ASEAN, with the volume of exports recording X tons, which was approx. 74% of total exports in 2021. Myanmar (X tons) ranks second in terms of the total exports with a 14% share, followed by Malaysia (11%).

Exports from Singapore increased at an average annual rate of +2.7% from 2012 to 2021. At the same time, Myanmar (+9.6%) and Malaysia (+7.8%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +9.6% from 2012-2021. From 2012 to 2021, the share of Myanmar and Malaysia increased by +5.6 and +3.5 percentage points, respectively.

In value terms, Singapore ($X) remains the largest lamb and sheep meat supplier in ASEAN, comprising 75% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 14% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Singapore stood at +2.1%. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (+14.1% per year) and Myanmar (+17.4% per year).

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, picking up by 14% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 16% against the previous year. The level of export peaked in 2021 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Myanmar (+7.1%), while the other leaders experienced mixed trends in the export price figures.

Imports of Lamb and Sheep Meat

Imports in ASEAN

In 2021, the amount of lamb and sheep meat imported in ASEAN reduced rapidly to X tons, with a decrease of -17.2% compared with the year before. The total import volume increased at an average annual rate of +3.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when imports increased by 24%. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, lamb and sheep meat imports contracted to $X in 2021. Total imports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +6.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +11.4% against 2019 indices. The pace of growth appeared the most rapid in 2017 when imports increased by 38%. The level of import peaked at $X in 2020, and then reduced in the following year.

Imports by Country

Malaysia was the largest importer of lamb and sheep meat in ASEAN, with the volume of imports recording X tons, which was near 62% of total imports in 2021. It was distantly followed by Singapore (X tons), generating a 30% share of total imports. Indonesia (X tons), Brunei Darussalam (X tons) and Thailand (X tons) followed a long way behind the leaders.

Malaysia was also the fastest-growing in terms of the lamb and sheep meat imports, with a CAGR of +5.4% from 2012 to 2021. At the same time, Singapore (+4.4%) displayed positive paces of growth. Indonesia experienced a relatively flat trend pattern. By contrast, Brunei Darussalam (-1.4%) and Thailand (-3.6%) illustrated a downward trend over the same period. Malaysia (+9.2 p.p.) and Singapore (+2.1 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X) constitutes the largest market for imported lamb and sheep meat in ASEAN, comprising 60% of total imports. The second position in the ranking was held by Singapore ($X), with a 30% share of total imports. It was followed by Indonesia, with a 2.8% share.

In Malaysia, lamb and sheep meat imports expanded at an average annual rate of +9.4% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Singapore (+6.9% per year) and Indonesia (-1.7% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2021, increasing by 13% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.8%. The growth pace was the most rapid in 2017 an increase of 22%. Over the period under review, import prices hit record highs in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Thailand ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+3.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform