Global Goat Meat Market 2024

Goat Meat Market Size

The global goat meat market was estimated at $X in 2022, remaining stable against the previous year. The market value increased at an average annual rate of +3.2% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the global market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Goat Meat Production

In value terms, goat meat production expanded slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.9% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the production volume increased by 25% against the previous year. Global production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

China (X tons) constituted the country with the largest volume of goat meat production, comprising approx. 39% of total volume. Moreover, goat meat production in China exceeded the figures recorded by the second-largest producer, India (X tons), fourfold. Pakistan (X tons) ranked third in terms of total production with an 8.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China totaled +2.2%. The remaining producing countries recorded the following average annual rates of production growth: India (+0.7% per year) and Pakistan (+5.8% per year).

The global average goat meat yield declined slightly to X kg per head in 2022, approximately reflecting the year before. Over the period under review, the yield, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the yield increased by 6% against the previous year. Over the period under review, the average goat meat yield attained the peak level at X kg per head in 2021, and then declined modestly in the following year.

The global number of animals slaughtered for goat meat production reduced slightly to X heads in 2022, leveling off at 2021. This number increased at an average annual rate of +1.8% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 6.6% against the previous year. The global producing animals peaked at X heads in 2021, and then declined slightly in the following year.

Goat Meat Exports

Exports

In 2022, global goat meat exports contracted to X tons, therefore, remained relatively stable against 2021. In general, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 20% against the previous year. Over the period under review, the global exports reached the maximum at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, goat meat exports shrank modestly to $X in 2022. The total export value increased at an average annual rate of +2.4% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 36% against the previous year. As a result, the exports reached the peak of $X, and then dropped in the following year.

Exports by Country

In 2022, Australia (X tons), distantly followed by Ethiopia (X tons), Kenya (X tons) and Spain (X tons) were the largest exporters of goat meat, together creating 79% of total exports. The following exporters - France (X tons), Greece (X tons), Mongolia (X tons), New Zealand (X tons), Tanzania (X tons) and the Netherlands (X tons) - together made up 14% of total exports.

From 2012 to 2022, the biggest increases were recorded for Mongolia (with a CAGR of +44.1%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, Australia ($X) remains the largest goat meat supplier worldwide, comprising 45% of global exports. The second position in the ranking was taken by Ethiopia ($X), with an 18% share of global exports. It was followed by Kenya, with a 13% share.

From 2012 to 2022, the average annual growth rate of value in Australia stood at +2.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Ethiopia (+2.3% per year) and Kenya (+22.1% per year).

Export Prices by Country

The average goat meat export price stood at $X per ton in 2022, falling by -2.9% against the previous year. Over the last decade, it increased at an average annual rate of +3.2%. The growth pace was the most rapid in 2014 when the average export price increased by 15%. The global export price peaked at $X per ton in 2021, and then dropped in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was France ($X per ton), while Mongolia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+7.2%), while the other global leaders experienced more modest paces of growth.

Goat Meat Imports

Imports

Global goat meat imports expanded slightly to X tons in 2022, increasing by 4.1% against 2021. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 36% against the previous year. Over the period under review, global imports hit record highs at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, goat meat imports rose remarkably to $X in 2022. The total import value increased at an average annual rate of +1.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 38%. Over the period under review, global imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

The United States (X tons) and the United Arab Emirates (X tons) were the largest importers of goat meat in 2022, resulting at near 35% and 25% of total imports, respectively. It was distantly followed by South Korea (X tons), creating a 5.5% share of total imports. Canada (X tons), Taiwan (Chinese) (X tons), Portugal (X tons), Oman (X tons), France (X tons), the UK (X tons), Saudi Arabia (X tons) and Italy (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +15.5%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($X), the United Arab Emirates ($X) and South Korea ($X) were the countries with the highest levels of imports in 2022, with a combined 66% share of global imports.

Among the main importing countries, South Korea, with a CAGR of +23.6%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average goat meat import price stood at $X per ton in 2022, rising by 3.1% against the previous year. Over the last decade, it increased at an average annual rate of +2.8%. The pace of growth appeared the most rapid in 2016 an increase of 7.3% against the previous year. Global import price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Korea ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+7.0%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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