Eastern Asia: Market for Lamb and Sheep Meat 2025

Market Size for Lamb and Sheep Meat in Eastern Asia

The East Asian lamb and sheep meat market skyrocketed to $X in 2021, jumping by 22% against the previous year. The total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +7.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +81.6% against 2016 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Lamb and Sheep Meat in Eastern Asia

In value terms, lamb and sheep meat production surged to $X in 2021 estimated in export price. The total production indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +6.5% 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 +75.5% against 2016 indices. As a result, production reached the peak level and is likely to continue growth in the immediate term.

China (X tons) constituted the country with the largest volume of lamb and sheep meat production, comprising approx. 99.9% of total volume.

From 2012 to 2021, the average annual rate of growth in terms of volume in China totaled +2.7%.

In 2021, the average yield of lamb and sheep meat in Eastern Asia dropped to X kg per head, with a decrease of -5.4% compared with the year before. In general, the yield showed a noticeable decline. The growth pace was the most rapid in 2015 when the yield increased by 0.8%. Over the period under review, the lamb and sheep meat yield reached the maximum level at X kg per head in 2016; however, from 2017 to 2021, the yield stood at a somewhat lower figure.

In 2021, approx. X heads of animals slaughtered for lamb and sheep meat production in Eastern Asia; with an increase of 10% compared with 2020 figures. This number increased at an average annual rate of +4.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of 12%. Over the period under review, this number hit record highs in 2021 and is likely to continue growth in the immediate term.

Exports of Lamb and Sheep Meat

Exports in Eastern Asia

In 2021, overseas shipments of lamb and sheep meat increased by 52% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports, however, recorded a abrupt setback. The volume of export peaked at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, lamb and sheep meat exports soared to $X in 2021. Over the period under review, exports, however, showed a relatively flat trend pattern. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

China represented the main exporter of lamb and sheep meat in Eastern Asia, with the volume of exports recording X tons, which was approx. 79% of total exports in 2021. It was distantly followed by Hong Kong SAR (X tons), generating a 21% share of total exports.

China was also the fastest-growing in terms of the lamb and sheep meat exports, with a CAGR of -5.3% from 2012 to 2021. Hong Kong SAR (-9.7%) illustrated a downward trend over the same period. While the share of China (+7.4 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Hong Kong SAR (-7.9 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest lamb and sheep meat supplier in Eastern Asia, comprising 83% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a 17% share of total exports.

From 2012 to 2021, the average annual growth rate of value in China was relatively modest.

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, rising by 19% against the previous year. Export price indicated a remarkable increase from 2012 to 2021: its price increased at an average annual rate of +6.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, lamb and sheep meat export price increased by +82.7% against 2015 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was China ($X per ton), while Hong Kong SAR stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+9.7%).

Imports of Lamb and Sheep Meat

Imports in Eastern Asia

In 2021, approx. X tons of lamb and sheep meat were imported in Eastern Asia; surging by 11% against the previous year. Overall, imports continue to indicate resilient growth. The pace of growth appeared the most rapid in 2013 with an increase of 80% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in the immediate term.

In value terms, lamb and sheep meat imports skyrocketed to $X in 2021. In general, imports showed prominent growth. The growth pace was the most rapid in 2013 with an increase of 73% against the previous year. The level of import peaked in 2021 and is likely to see gradual growth in the near future.

Imports by Country

China prevails in imports structure, accounting for X tons, which was near 87% of total imports in 2021. The following importers - Japan (X tons), South Korea (X tons), Taiwan (Chinese) (X tons) and Hong Kong SAR (X tons) - together made up 13% of total imports.

From 2012 to 2021, average annual rates of growth with regard to lamb and sheep meat imports into China stood at +14.3%. At the same time, South Korea (+16.0%) and Japan (+1.3%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +16.0% from 2012-2021. Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (-2.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China increased by +15 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported lamb and sheep meat in Eastern Asia, comprising 82% of total imports. The second position in the ranking was held by Japan ($X), with a 6.5% share of total imports. It was followed by South Korea, with a 5.9% share.

In China, lamb and sheep meat imports increased at an average annual rate of +21.2% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Japan (+4.6% per year) and South Korea (+23.4% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, growing by 18% against the previous year. Over the last nine years, it increased at an average annual rate of +4.6%. The growth pace was the most rapid in 2016 an increase of 24%. The level of import peaked in 2021 and is likely to see gradual growth in years to come.

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 Japan ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+6.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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