Report Republic of Korea - Lamb and Sheep Meat - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update May 1, 2025

Republic of Korea - Lamb and Sheep Meat - Market Analysis, Forecast, Size, Trends and Insights

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Republic of Korea: Market for Lamb and Sheep Meat 2025

Market Size for Lamb and Sheep Meat in Republic of Korea

The South Korean lamb and sheep meat market soared to $X in 2021, surging by 26% against the previous year. Overall, consumption saw a significant increase. Over the period under review, the market reached the peak level in 2021 and is expected to retain growth in years to come.

Production of Lamb and Sheep Meat in Republic of Korea

In value terms, lamb and sheep meat production expanded to $X in 2021 estimated in export price. In general, production saw a deep contraction. The growth pace was the most rapid in 2017 when the production volume increased by 82% against the previous year. Lamb and sheep meat production peaked at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.

In 2021, the average yield of lamb and sheep meat in South Korea was estimated at X kg per head, approximately mirroring 2020. Over the period under review, the yield showed a relatively flat trend pattern. The lamb and sheep meat yield peaked in 2021 and is likely to see steady growth in the immediate term.

The number of animals slaughtered for lamb and sheep meat production in South Korea declined to X head in 2021, with a decrease of -10.7% on 2020. Overall, the number of producing animals faced a abrupt slump. The pace of growth appeared the most rapid in 2017 when the number of producing animals increased by 57%. Over the period under review, this number hit record highs at X head in 2015; however, from 2016 to 2021, producing animals failed to regain momentum.

Exports of Lamb and Sheep Meat

Exports from Republic of Korea

In 2021, approx. X kg of lamb and sheep meat were exported from South Korea; declining by -34.4% compared with the previous year's figure. In general, exports faced a dramatic decrease. The most prominent rate of growth was recorded in 2017 with an increase of 18,355%. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, lamb and sheep meat exports reduced to $X in 2021. Overall, exports saw a significant decrease. The most prominent rate of growth was recorded in 2017 with an increase of 7,632%. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Gambia (X kg) was the main destination for lamb and sheep meat exports from South Korea, with a 41% share of total exports. Moreover, lamb and sheep meat exports to Gambia exceeded the volume sent to the second major destination, Chile (X kg), fivefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Gambia was relatively modest.

In value terms, the largest markets for lamb and sheep meat exported from South Korea were Gambia ($X) and Chile ($X).

In terms of the main countries of destination, Chile, with a CAGR of 0.0%, saw the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

The average lamb and sheep meat export price stood at $X per ton in 2021, picking up by 33% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 224%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Chile ($X per ton), while the average price for exports to Gambia totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+196.7%).

Imports of Lamb and Sheep Meat

Imports into Republic of Korea

In 2021, the amount of lamb and sheep meat imported into South Korea expanded notably to X tons, surging by 11% on 2020. Overall, imports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2014 when imports increased by 49%. Over the period under review, imports reached the peak figure in 2021 and are likely to continue growth in the near future.

In value terms, lamb and sheep meat imports soared to $X in 2021. In general, imports showed significant growth. The most prominent rate of growth was recorded in 2014 when imports increased by 68%. Over the period under review, imports reached the peak figure in 2021 and are likely to continue growth in the near future.

Imports by Country

In 2021, Australia (X tons) was the main lamb and sheep meat supplier to South Korea, accounting for a 91% share of total imports. Moreover, lamb and sheep meat imports from Australia exceeded the figures recorded by the second-largest supplier, New Zealand (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from Australia totaled +16.9%.

In value terms, Australia ($X) constituted the largest supplier of lamb and sheep meat to South Korea, comprising 90% of total imports. The second position in the ranking was taken by New Zealand ($X), with a 9.3% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Australia amounted to +23.8%.

Import Prices by Country

The average lamb and sheep meat import price stood at $X per ton in 2021, with an increase of 15% against the previous year. Overall, import price indicated a buoyant increase from 2012 to 2021: its price increased at an average annual rate of +6.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, lamb and sheep meat import price increased by +73.0% against 2016 indices. The growth pace was the most rapid in 2018 an increase of 24%. Over the period under review, average import prices hit record highs in 2021 and is likely to continue growth in the near future.

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 Australia stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by New Zealand (+11.4%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

The country with the largest volume of lamb and sheep meat consumption was China, comprising approx. 31% of total volume. Moreover, lamb and sheep meat consumption in China exceeded the figures recorded by the second-largest consumer, Algeria, ninefold. The third position in this ranking was occupied by the UK, with a 2.9% share.
The country with the largest volume of lamb and sheep meat production was China, comprising approx. 27% of total volume. Moreover, lamb and sheep meat production in China exceeded the figures recorded by the second-largest producer, Australia, fourfold. New Zealand ranked third in terms of total production with a 4.7% share.
In value terms, Australia constituted the largest supplier of lamb and sheep meat to South Korea, comprising 90% of total imports. The second position in the ranking was occupied by New Zealand, with a 9.9% share of total imports.
In 2020, the average lamb and sheep meat export price amounted to $6,551 per ton, remaining stable against the previous year.
In 2021, the average lamb and sheep meat import price amounted to $8,032 per ton, reducing by -1.5% against the previous year.

This report provides an in-depth analysis of the market for lamb and sheep meat in Republic of Korea. 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:

  • South Korea

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in Republic of Korea
  • 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 Type
    11. Average Per Capita Consumption, by Type, 2024
    12. Exports and Growth, by Type
    13. 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: 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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