Report Update Nov 1, 2024

Vietnam - Lamb and Sheep Meat - Market Analysis, Forecast, Size, Trends and Insights

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Vietnam: Market for Lamb and Sheep Meat 2024

Market Size for Lamb and Sheep Meat in Vietnam

In 2021, the Vietnamese lamb and sheep meat market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption showed a abrupt shrinkage. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Exports of Lamb and Sheep Meat

Exports from Vietnam

In 2021, shipments abroad of lamb and sheep meat decreased by -98.8% to X kg, falling for the second consecutive year after three years of growth. Over the period under review, exports recorded a precipitous descent. The pace of growth appeared the most rapid in 2018 when exports increased by 815% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, lamb and sheep meat exports declined remarkably to $X in 2021. In general, exports showed a dramatic curtailment. The most prominent rate of growth was recorded in 2018 with an increase of 547%. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Austria (X kg) was the main destination for lamb and sheep meat exports from Vietnam, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Austria stood at +2.4%.

In value terms, Austria ($X) also remains the key foreign market for lamb and sheep meat exports from Vietnam.

From 2012 to 2021, the average annual growth rate of value to Austria totaled +2.8%.

Export Prices by Country

The average lamb and sheep meat export price stood at $X per ton in 2021, rising by 111% against the previous year. Over the period under review, the export price posted a strong increase. The most prominent rate of growth was recorded in 2014 an increase of 121%. The export price peaked in 2021 and is likely to see gradual growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Austria.

From 2012 to 2021, the rate of growth in terms of prices for Hong Kong SAR amounted to +13.6% per year.

Imports of Lamb and Sheep Meat

Imports into Vietnam

For the third consecutive year, Vietnam recorded decline in purchases abroad of lamb and sheep meat, which decreased by -7.2% to X tons in 2021. Overall, imports saw a abrupt decrease. The most prominent rate of growth was recorded in 2013 with an increase of 47%. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, lamb and sheep meat imports expanded significantly to $X in 2021. In general, imports recorded a deep slump. The most prominent rate of growth was recorded in 2018 with an increase of 25%. Imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Australia (X tons) constituted the largest lamb and sheep meat supplier to Vietnam, accounting for a 48% share of total imports. Moreover, lamb and sheep meat imports from Australia exceeded the figures recorded by the second-largest supplier, Uruguay (X tons), threefold. Hong Kong SAR (X tons) ranked third in terms of total imports with a 9.6% share.

From 2012 to 2021, the average annual growth rate of volume from Australia stood at -5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Uruguay (+4.4% per year) and Hong Kong SAR (-22.7% per year).

In value terms, Australia ($X) constituted the largest supplier of lamb and sheep meat to Vietnam, comprising 54% of total imports. The second position in the ranking was held by New Zealand ($X), with a 12% share of total imports. It was followed by Hong Kong SAR, with a 5.9% share.

From 2012 to 2021, the average annual growth rate of value from Australia totaled -5.2%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (-7.3% per year) and Hong Kong SAR (-21.7% per year).

Import Prices by Country

The average lamb and sheep meat import price stood at $X per ton in 2021, picking up by 16% against the previous year. In general, import price indicated a buoyant increase from 2012 to 2021: its price increased at an average annual rate of +5.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when the average import price increased by 43% against the previous year. The import price peaked in 2021 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was New Zealand ($X per ton), while the price for Uruguay ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iceland (+5.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for lamb and sheep meat in the world?

China remains the largest lamb and sheep meat consuming country worldwide, accounting for 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.

What are the largest producers of lamb and sheep meat in the world?

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. The third position in this ranking was occupied by New Zealand, with a 4.7% share.

What are the leading suppliers of lamb and sheep meat to Vietnam?

In value terms, Australia constituted the largest supplier of lamb and sheep meat to Vietnam, comprising 45% of total imports. The second position in the ranking was occupied by New Zealand, with a 21% share of total imports. It was followed by Hong Kong SAR, with a 7.7% share.

What are the leading importers of lamb and sheep meat from Vietnam?

In value terms, Austria $560) remains the key foreign market for lamb and sheep meat exports from Vietnam.

What is the average export price for lamb and sheep meat in Vietnam?

The average lamb and sheep meat export price stood at $7,778 per ton in 2021, increasing by 37% against the previous year.

What is the average import price for lamb and sheep meat in Vietnam?

In 2021, the average lamb and sheep meat import price amounted to $6,217 per ton, rising by 6.4% against the previous year.

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

Vietnam

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Vietnam
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:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
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. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
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. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION, PRODUCING ANIMALS AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: 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, 2012–2023
23. Production, In Value Terms, 2012–2023
24. Producing Animals Slaughtered, 2012–2023
25. Yield, 2012–2023
26. Imports, In Physical Terms, 2012–2023
27. Imports, In Value Terms, 2012–2023
28. Imports, In Physical Terms, By Country, 2023
29. Imports, In Physical Terms, By Country, 2012–2023
30. Imports, In Value Terms, By Country, 2012–2023
31. Import Prices, By Country Of Origin, 2012–2023
32. Exports, In Physical Terms, 2012–2023
33. Exports, In Value Terms, 2012–2023
34. Exports, In Physical Terms, By Country, 2023
35. Exports, In Physical Terms, By Country, 2012–2023
36. Exports, In Value Terms, By Country, 2012–2023
37. Export Prices, By Country Of Destination, 2012–2023