Australia: Preserved Beef Market 2024

Preserved Beef Market Size in Australia

In 2021, after three years of growth, there was significant decline in the Australian preserved beef market, when its value decreased by -8.5% to $X. In general, the total consumption indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +54.7% against 2017 indices. Preserved beef consumption peaked at $X in 2020, and then reduced in the following year.

Preserved Beef Production in Australia

In value terms, preserved beef production declined to $X in 2021 estimated in export price. Over the period under review, the total production indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +61.4% against 2017 indices. The growth pace was the most rapid in 2013 with an increase of 59%. Over the period under review, production hit record highs at $X in 2020, and then declined in the following year.

Preserved Beef Exports

Exports from Australia

Preserved beef exports from Australia dropped remarkably to X tons in 2021, with a decrease of -38.1% against 2020 figures. Over the period under review, exports showed a sharp curtailment. The most prominent rate of growth was recorded in 2016 with an increase of 67%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, preserved beef exports reduced markedly to $X in 2021. In general, exports showed a sharp shrinkage. The pace of growth was the most pronounced in 2016 with an increase of 39%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Qatar (X tons) was the main destination for preserved beef exports from Australia, accounting for a 63% share of total exports. Moreover, preserved beef exports to Qatar exceeded the volume sent to the second major destination, Vietnam (X tons), fourfold. The third position in this ranking was held by South Korea (X kg), with an 8.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Qatar totaled +10.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+1.0% per year) and South Korea (-16.6% per year).

In value terms, Qatar ($X), Vietnam ($X) and New Caledonia ($X) constituted the largest markets for preserved beef exported from Australia worldwide, with a combined 86% share of total exports.

Among the main countries of destination, Vietnam, with a CAGR of +6.0%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average preserved beef export price stood at $X per ton in 2021, with a decrease of -41.6% against the previous year. Overall, the export price continues to indicate a noticeable decrease. The pace of growth was the most pronounced in 2020 an increase of 108% against the previous year. As a result, the export price attained the peak level of $X per ton, and then reduced notably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to New Zealand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+16.6%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Beef Imports

Imports into Australia

In 2021, preserved beef imports into Australia surged to X tons, jumping by 44% on the previous year. In general, imports, however, saw a dramatic contraction. The pace of growth appeared the most rapid in 2020 when imports increased by 269%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, preserved beef imports soared to $X in 2021. Over the period under review, imports, however, continue to indicate a sharp decline. The pace of growth appeared the most rapid in 2018 with an increase of 376%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

The Netherlands (X tons) and New Zealand (X tons) were the main suppliers of preserved beef imports to Australia.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +75.0%).

In value terms, the largest preserved beef suppliers to Australia were the Netherlands ($X) and New Zealand ($X).

The Netherlands, with a CAGR of +84.1%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review.

Import Prices by Country

In 2021, the average preserved beef import price amounted to $X per ton, picking up by 20% against the previous year. Over the period under review, the import price posted a strong expansion. The pace of growth appeared the most rapid in 2018 when the average import price increased by 55% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was New Zealand ($X per ton), while the price for the Netherlands stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by New Zealand (+8.7%).

Source: IndexBox Platform

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