Australia: Market for Lamb and Sheep Meat 2024

Market Size for Lamb and Sheep Meat in Australia

The Australian lamb and sheep meat market fell modestly to $X in 2022, shrinking by X% against the previous year. Over the period under review, consumption, however, recorded a slight increase. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Production of Lamb and Sheep Meat in Australia

In value terms, lamb and sheep meat production shrank modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when the production volume increased by X% against the previous year. Lamb and sheep meat production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

In 2022, the average yield of lamb and sheep meat in Australia fell slightly to X kg per head, which is down by X% compared with the year before. In general, the yield, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the yield increased by X% against the previous year. Over the period under review, the average lamb and sheep meat yield hit record highs at X kg per head in 2021, and then dropped modestly in the following year.

The number of animals slaughtered for lamb and sheep meat production in Australia reached X heads in 2022, increasing by X% compared with the previous year's figure. Over the period under review, the number of producing animals recorded mild growth. The pace of growth was the most pronounced in 2013 when the number of producing animals increased by X% against the previous year. Over the period under review, this number reached the peak level at X heads in 2014; however, from 2015 to 2022, producing animals remained at a lower figure.

Exports of Lamb and Sheep Meat

Exports from Australia

In 2022, approx. X tons of lamb and sheep meat were exported from Australia; surging by X% against 2021 figures. The total export volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, lamb and sheep meat exports rose significantly to $X in 2022. In general, total exports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in years to come.

Exports by Country

China (X tons), the United States (X tons) and Malaysia (X tons) were the main destinations of lamb and sheep meat exports from Australia, together comprising X% of total exports. Papua New Guinea, South Korea, the United Arab Emirates, Japan, Singapore, Saudi Arabia, Canada, the UK, Taiwan (Chinese) and Jordan lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest markets for lamb and sheep meat exported from Australia were the United States ($X), China ($X) and South Korea ($X), together comprising X% of total exports.

South Korea, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average lamb and sheep meat export price amounted to $X per ton, flattening at the previous year. In general, export price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, lamb and sheep meat export price increased by X% against 2016 indices. The pace of growth was the most pronounced in 2017 an increase of X%. The export price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Papua New Guinea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Lamb and Sheep Meat

Imports into Australia

In 2022, purchases abroad of lamb and sheep meat decreased by X% to X tons, falling for the second consecutive year after four years of growth. Over the period under review, imports saw a deep downturn. The pace of growth was the most pronounced in 2018 with an increase of X%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, lamb and sheep meat imports shrank notably to $X in 2022. Overall, imports recorded a abrupt downturn. The pace of growth appeared the most rapid in 2020 when imports increased by X%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, New Zealand (X tons) constituted the largest lamb and sheep meat supplier to Australia, accounting for a X% share of total imports. Moreover, lamb and sheep meat imports from New Zealand exceeded the figures recorded by the second-largest supplier, the United States (X tons), eightfold.

From 2012 to 2022, the average annual growth rate of volume from New Zealand stood at X%.

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

From 2012 to 2022, the average annual rate of growth in terms of value from New Zealand totaled X%.

Import Prices by Country

The average lamb and sheep meat import price stood at $X per ton in 2022, jumping by X% against the previous year. Over the period under review, the import price, however, recorded a abrupt contraction. The pace of growth appeared the most rapid in 2020 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for New Zealand stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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