Southern Asia: Market for Lamb and Sheep Meat 2024

Market Size for Lamb and Sheep Meat in Southern Asia

In 2021, the South Asian lamb and sheep meat market increased by 17% to $X, rising for the fifth consecutive year after two years of decline. The total consumption indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +7.8% 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 +87.6% against 2016 indices. The level of consumption peaked in 2021 and is expected to retain growth in the immediate term.

Production of Lamb and Sheep Meat in Southern Asia

In value terms, lamb and sheep meat production skyrocketed 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 +7.9% 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 +85.3% against 2016 indices. The pace of growth appeared the most rapid in 2017 when the production volume increased by 21%. Over the period under review, production attained the maximum level in 2021 and is likely to see gradual growth in the near future.

India (X tons) remains the largest lamb and sheep meat producing country in Southern Asia, accounting for 71% of total volume. Moreover, lamb and sheep meat production in India exceeded the figures recorded by the second-largest producer, Pakistan (X tons), fourfold.

From 2012 to 2021, the average annual rate of growth in terms of volume in India stood at +5.9%. The remaining producing countries recorded the following average annual rates of production growth: Pakistan (+4.9% per year) and Afghanistan (-0.1% per year).

In 2021, the average lamb and sheep meat yield in Southern Asia totaled X kg per head, approximately mirroring the previous year. In general, the yield saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 3.5%. Over the period under review, the lamb and sheep meat yield reached the maximum level in 2021 and is likely to continue growth in the immediate term.

In 2021, the number of animals slaughtered for lamb and sheep meat production in Southern Asia expanded significantly to X heads, growing by 9.9% against the previous year. This number increased at an average annual rate of +4.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of 15%. Over the period under review, this number reached the peak level in 2021 and is expected to retain growth in years to come.

Exports of Lamb and Sheep Meat

Exports in Southern Asia

In 2021, overseas shipments of lamb and sheep meat decreased by -7.9% to X tons, falling for the seventh consecutive year after three years of growth. In general, exports continue to indicate a deep contraction. The growth pace was the most rapid in 2013 when exports increased by 21%. Over the period under review, the exports reached the maximum at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, lamb and sheep meat exports reduced slightly to $X in 2021. Over the period under review, exports continue to indicate a pronounced curtailment. The pace of growth was the most pronounced in 2013 with an increase of 36% against the previous year. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, India (X tons) was the key exporter of lamb and sheep meat, comprising 69% of total exports. It was distantly followed by Pakistan (X tons), committing a 27% share of total exports. Bangladesh (X tons) held a little share of total exports.

Exports from India decreased at an average annual rate of -5.2% from 2012 to 2021. At the same time, Bangladesh (+36.8%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of +36.8% from 2012-2021. By contrast, Pakistan (-11.1%) illustrated a downward trend over the same period. While the share of India (+10 p.p.) and Bangladesh (+3.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Pakistan (-14 p.p.) displayed negative dynamics.

In value terms, India ($X) remains the largest lamb and sheep meat supplier in Southern Asia, comprising 65% of total exports. The second position in the ranking was taken by Pakistan ($X), with a 30% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in India stood at -2.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Pakistan (-5.6% per year) and Bangladesh (+37.7% per year).

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per ton, increasing by 8.4% against the previous year. Over the last nine years, it increased at an average annual rate of +3.9%. The most prominent rate of growth was recorded in 2013 an increase of 13% against the previous year. The level of export peaked in 2021 and is likely to continue growth in years to come.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Bangladesh ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Pakistan (+6.2%), while the other leaders experienced more modest paces of growth.

Imports of Lamb and Sheep Meat

Imports in Southern Asia

Lamb and sheep meat imports skyrocketed to X tons in 2021, growing by 107% against the previous year's figure. Overall, imports saw a relatively flat trend pattern. Over the period under review, imports attained the maximum at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, lamb and sheep meat imports skyrocketed to $X in 2021. In general, imports showed pronounced growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Maldives (X tons) and Sri Lanka (X tons) prevails in imports structure, together constituting 87% of total imports. It was distantly followed by India (X tons), making up a 6.8% share of total imports. Afghanistan (X tons) took a minor share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Sri Lanka (with a CAGR of +18.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Maldives ($X) constitutes the largest market for imported lamb and sheep meat in Southern Asia, comprising 57% of total imports. The second position in the ranking was held by Sri Lanka ($X), with a 27% share of total imports. It was followed by India, with a 7.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Maldives stood at +14.1%. In the other countries, the average annual rates were as follows: Sri Lanka (+23.5% per year) and India (+9.8% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2021, picking up by 14% against the previous year. Import price indicated a pronounced expansion from 2012 to 2021: its price increased at an average annual rate of +4.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, lamb and sheep meat import price decreased by -5.6% against 2018 indices. The most prominent rate of growth was recorded in 2016 an increase of 71%. Over the period under review, import prices reached the maximum at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

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 Afghanistan ($X per ton), while Sri Lanka ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sri Lanka (+4.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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