ASEAN: Market for Sheep And Goat Meat 2024

Market Size for Sheep And Goat Meat in ASEAN

The ASEAN sheep and goat meat market rose sharply to $X in 2022, with an increase of X% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Production of Sheep And Goat Meat in ASEAN

In value terms, sheep and goat meat production fell to $X in 2022 estimated in export price. Overall, production recorded a slight reduction. The pace of growth appeared the most rapid in 2017 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Indonesia (X tons) remains the largest sheep and goat meat producing country in ASEAN, accounting for X% of total volume. Moreover, sheep and goat meat production in Indonesia exceeded the figures recorded by the second-largest producer, the Philippines (X tons), fourfold. Vietnam (X tons) ranked third in terms of total production with an X% share.

In Indonesia, sheep and goat meat production remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: the Philippines (X% per year) and Vietnam (X% per year).

In 2022, the average sheep and goat meat yield in ASEAN fell dramatically to X kg per head, waning by X% against the previous year's figure. Over the period under review, the yield saw a pronounced descent. The most prominent rate of growth was recorded in 2021 with an increase of X%. The level of yield peaked at X kg per head in 2013; however, from 2014 to 2022, the yield remained at a lower figure.

In 2022, number of animals slaughtered for sheep and goat meat production in ASEAN surged to X heads, jumping by X% against the previous year. This number increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, this number reached the peak level at X heads in 2020; however, from 2021 to 2022, producing animals remained at a lower figure.

Exports of Sheep And Goat Meat

Exports in ASEAN

In 2022, after two years of decline, there was significant growth in overseas shipments of sheep and goat meat, when their volume increased by X% to X tons. In general, exports continue to indicate a measured increase. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, sheep and goat meat exports shrank rapidly to $X in 2022. Overall, exports recorded a slight increase. The most prominent rate of growth was recorded in 2018 when exports increased by X%. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Singapore (X tons) represented the largest exporter of sheep and goat meat, constituting X% of total exports. Malaysia (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Myanmar (X%).

Exports from Singapore increased at an average annual rate of X% from 2012 to 2022. At the same time, Malaysia (X%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2022. By contrast, Myanmar (X%) illustrated a downward trend over the same period. Singapore (X p.p.) and Malaysia (X p.p.) significantly strengthened its position in terms of the total exports, while Myanmar saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Singapore ($X) remains the largest sheep and goat meat supplier in ASEAN, comprising X% of total exports. The second position in the ranking was held by Malaysia ($X), with a X% share of total exports.

In Singapore, sheep and goat meat exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (X% per year) and Myanmar (X% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, dropping by X% against the previous year. In general, the export price showed a noticeable downturn. The growth pace was the most rapid in 2021 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton, and then fell notably in the following year.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Myanmar (X%), while the other leaders experienced a decline in the export price figures.

Imports of Sheep And Goat Meat

Imports in ASEAN

Sheep and goat meat imports surged to X tons in 2022, picking up by X% compared with 2021. Total imports indicated a strong increase from 2012 to 2022: its volume 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. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, sheep and goat meat imports soared to $X in 2022. Total imports indicated prominent growth 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, imports increased by X% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Malaysia represented the largest importer of sheep and goat meat in ASEAN, with the volume of imports reaching X tons, which was approx. X% of total imports in 2022. Singapore (X tons) took the second position in the ranking, distantly followed by Indonesia (X tons). All these countries together took near X% share of total imports. The following importers - Thailand (X tons) and Vietnam (X tons) - each finished at a X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to sheep and goat meat imports into Malaysia stood at X%. At the same time, Indonesia (X%), Singapore (X%), Thailand (X%) and Vietnam (X%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in ASEAN, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Malaysia increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X) constitutes the largest market for imported sheep and goat meat in ASEAN, comprising X% of total imports. The second position in the ranking was held by Singapore ($X), with a X% share of total imports. It was followed by Indonesia, with a X% share.

In Malaysia, sheep and goat meat imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Singapore (X% per year) and Indonesia (X% per year).

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per ton, with an increase of X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2017 an increase of X%. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Thailand ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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