Australia - Beef (Cattle Meat) - Market Analysis, Forecast, Size, Trends and Insights
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View PricingAustralia Sees a Significant Increase in Beef Exports, Reaching $7.7 Billion in 2023
Australia Beef Exports
In 2023, shipments abroad of beef (cattle meat) was finally on the rise to reach 1.2M tons after three years of decline. Over the period under review, exports saw a relatively flat trend pattern. The exports peaked at 1.4M tons in 2015; however, from 2016 to 2023, the exports failed to regain momentum.
In value terms, beef exports reached $7.7B (IndexBox estimates) in 2023. The total export value increased at an average annual rate of +3.4% over the period from 2013 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 when exports increased by 27%. The exports peaked in 2023 and are expected to retain growth in the near future.
| COUNTRY | Export Value of Beef in Australia (million USD) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
| United States | 986 | 2,194 | 2,318 | 1,290 | 1,283 | 1,312 | 1,536 | 1,411 | 1,209 | 1,211 | 1,757 |
| China | 698 | 593 | 757 | 500 | 638 | 970 | 1,858 | 1,325 | 1,266 | 1,447 | 1,598 |
| South Korea | 765 | 850 | 936 | 1,014 | 843 | 1,026 | 1,005 | 994 | 1,277 | 1,286 | 1,256 |
| Japan | 1,384 | 1,486 | 1,419 | 1,351 | 1,527 | 1,699 | 1,633 | 1,532 | 1,492 | 1,402 | 1,219 |
| Indonesia | 188 | 253 | 183 | 259 | 217 | 237 | 271 | 213 | 268 | 271 | 378 |
| Taiwan (Chinese) | 198 | 213 | 165 | 180 | 188 | 171 | 181 | 164 | 181 | 196 | 203 |
| Canada | 72.6 | 147 | 185 | 80.1 | 96.9 | 104 | 70.5 | 84.4 | 64.4 | 88.1 | 135 |
| Philippines | 91.9 | 142 | 87.7 | 97.0 | 124 | 135 | 109 | 109 | 129 | 147 | 93.3 |
| Others | 1,126 | 1,123 | 947 | 754 | 797 | 820 | 852 | 778 | 957 | 1,102 | 1,020 |
| Total | 5,508 | 7,000 | 6,997 | 5,525 | 5,713 | 6,475 | 7,517 | 6,610 | 6,844 | 7,151 | 7,660 |
Exports by Country
the United States (248K tons), China (240K tons) and Japan (208K tons) were the main destinations of beef exports from Australia, together accounting for 59% of total exports. South Korea, Indonesia, Taiwan (Chinese), the Philippines and Canada lagged somewhat behind, together comprising a further 31%.
From 2013 to 2023, the biggest increases were recorded for Indonesia (with a CAGR of +9.1%), while shipments for the other leaders experienced more modest paces of growth.
In value terms, the United States ($1.8B), China ($1.6B) and South Korea ($1.3B) constituted the largest markets for beef exported from Australia worldwide, with a combined 60% share of total exports.
China, with a CAGR of +8.6%, recorded 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.
Exports by Type
Frozen boneless cuts of bovine meat (785K tons) was the largest type of beef (cattle meat) exported from Australia, accounting for a 67% share of total exports. Moreover, frozen boneless cuts of bovine meat exceeded the volume of the second product type, fresh or chilled boneless cuts of bovine meat (259K tons), threefold. Frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat (126K tons) ranked third in terms of total exports with an 11% share.
From 2013 to 2023, the average annual growth rate of the volume of frozen boneless cuts of bovine meat exports was relatively modest. With regard to the other exported products, the following average annual rates of growth were recorded: fresh or chilled boneless cuts of bovine meat (-0.4% per year) and frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat (+5.5% per year).
In value terms, beef (cattle meat) with the largest exports in Australia were frozen boneless cuts of bovine meat ($4.4B), fresh or chilled boneless cuts of bovine meat ($2.7B) and frozen bone-in cuts (excluding carcasses and half-carcasses) of bovine meat ($413M), with a combined 99% share of total exports. Fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat, fresh or chilled carcasses and half-carcasses of bovine meat and frozen carcasses and half-carcasses of bovine meat lagged somewhat behind, together comprising a further 1.4%.
Among the main product categories, fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat, with a CAGR of +5.7%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other products experienced more modest paces of growth.
Export Prices by Country
In 2023, the beef price stood at $6,499 per ton (FOB, Australia), declining by -15.4% against the previous year. Over the period from 2013 to 2023, it increased at an average annual rate of +3.3%. The most prominent rate of growth was recorded in 2021 when the average export price increased by 18%. Over the period under review, the average export prices hit record highs at $7,682 per ton in 2022, and then dropped significantly in the following year.
There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($7,416 per ton), while the average price for exports to the Philippines ($3,658 per ton) was amongst the lowest.
From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+4.5%), while the prices for the other major destinations experienced more modest paces of growth.
This report provides an in-depth analysis of the beef market in Australia. 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 947 - Buffalo meat
- FCL 867 - Meat of cattle
Country coverage:
- Australia
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Australia
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION, PRODUCING ANIMALS AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Yield And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Producing Animals Slaughtered, 2012–2023
- Yield, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
