South-Eastern Asia: Market for Lamb and Sheep Meat 2024

Market Size for Lamb and Sheep Meat in South-Eastern Asia

The Southeast Asian lamb and sheep meat market declined modestly to $X in 2021, almost unchanged from the previous year. The total consumption indicated strong growth 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 -8.1% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Production of Lamb and Sheep Meat in South-Eastern Asia

In value terms, lamb and sheep meat production expanded significantly to $X in 2021 estimated in export price. The total production indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -15.3% against 2019 indices. The growth pace was the most rapid in 2017 when the production volume increased by 21% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

The country with the largest volume of lamb and sheep meat production was Indonesia (X tons), comprising approx. 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.

In Indonesia, lamb and sheep meat production increased at an average annual rate of +2.6% over the period from 2012-2021. The remaining producing countries recorded the following average annual rates of production growth: 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, growing by 22% compared with 2020 figures. In general, the yield, however, recorded a relatively flat trend pattern. The level of yield peaked at X kg per head in 2017; however, from 2018 to 2021, the yield failed to regain momentum.

In 2021, the number of animals slaughtered for lamb and sheep meat production in South-Eastern Asia contracted significantly to X heads, with a decrease of -16.1% against 2020. This number increased at an average annual rate of +2.0% 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 2018 when the number of producing animals increased by 18% against the previous year. As a result, the number of producing animals reached the peak level of X heads. From 2019 to 2021, the growth of this number remained at a lower figure.

Exports of Lamb and Sheep Meat

Exports in South-Eastern Asia

In 2021, overseas shipments of lamb and sheep meat decreased by -4.8% to X tons for the first time since 2016, thus ending a four-year rising trend. Total exports indicated a temperate 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 was the most pronounced in 2019 when exports increased by 43%. Over the period under review, the exports hit record highs at X tons in 2020, and then fell modestly in the following year.

In value terms, lamb and sheep meat exports rose rapidly to $X in 2021. Overall, exports, however, recorded a temperate expansion. The pace of growth was the most pronounced in 2017 with an increase of 45% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in years to come.

Exports by Country

In 2021, Singapore (X tons) represented the main exporter of lamb and sheep meat, constituting 74% of total exports. Myanmar (X tons) held a 14% share (based on physical terms) of total exports, which put it in second place, 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 South-Eastern Asia, with a CAGR of +9.6% from 2012-2021. Myanmar (+5.6 p.p.) and Malaysia (+3.5 p.p.) significantly strengthened its position in terms of the total exports, while Singapore saw its share reduced by -5.1% from 2012 to 2021, respectively.

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

In Singapore, lamb and sheep meat exports expanded at an average annual rate of +2.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Malaysia (+14.1% per year) and Myanmar (+17.4% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2021, increasing by 14% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 16%. The level of export peaked in 2021 and is likely to see steady growth in the near future.

Prices varied noticeably by country of origin: 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 South-Eastern Asia

Lamb and sheep meat imports shrank notably to X tons in 2021, declining by -17.2% against 2020. 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 with an increase of 24% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, lamb and sheep meat imports dropped to $X in 2021. Total imports indicated a strong 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 growth pace was the most rapid in 2017 when imports increased by 38% against the previous year. The level of import peaked at $X in 2020, and then declined in the following year.

Imports by Country

Malaysia represented the largest importing country with an import of around X tons, which finished at 62% of total imports. It was distantly followed by Singapore (X tons), making up a 30% share of total imports. Indonesia (X tons), Brunei Darussalam (X tons) and Thailand (X tons) took a relatively small share of total imports.

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

From 2012 to 2021, the average annual rate of growth in terms of value in Malaysia amounted to +9.4%. 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 South-Eastern Asia 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 most prominent rate of growth was recorded in 2017 when the import price increased by 22% against the previous year. Over the period under review, import prices attained the peak figure in 2021 and is likely to see steady growth in years to come.

Prices varied noticeably by country of destination: 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

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