Asia: Market for Lamb and Sheep Meat 2023

Market Size for Lamb and Sheep Meat in Asia

In 2021, the Asian lamb and sheep meat market increased by 16% to $X, rising for the fifth consecutive year after two years of decline. The total consumption indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +58.0% against 2016 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Lamb and Sheep Meat in Asia

In value terms, lamb and sheep meat production skyrocketed to $X in 2021 estimated in export price. The total production indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +56.2% against 2016 indices. As a result, production attained the peak level and is likely to continue growth in the immediate term.

The country with the largest volume of lamb and sheep meat production was China (X tons), comprising approx. 44% of total volume. Moreover, lamb and sheep meat production in China exceeded the figures recorded by the second-largest producer, India (X tons), threefold. The third position in this ranking was taken by Turkey (X tons), with a 6.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume in China amounted to +2.7%. The remaining producing countries recorded the following average annual rates of production growth: India (+5.9% per year) and Turkey (+6.4% per year).

In 2021, the average yield of lamb and sheep meat in Asia declined to X kg per head, dropping by -2.1% against 2020. Over the period under review, the yield saw a mild curtailment. The pace of growth was the most pronounced in 2015 when the yield increased by 1.1%. The level of yield peaked at X kg per head in 2012; however, from 2013 to 2021, the yield remained at a lower figure.

In 2021, number of animals slaughtered for lamb and sheep meat production in Asia expanded notably to X heads, surging by 7.6% on 2020. This number increased at an average annual rate of +4.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 when the number of producing animals increased by 9% against the previous year. The level of producing animals peaked in 2021 and is likely to see gradual growth in the near future.

Exports of Lamb and Sheep Meat

Exports in Asia

In 2021, after three years of decline, there was significant growth in overseas shipments of lamb and sheep meat, when their volume increased by 8.5% to X tons. In general, exports, however, showed a deep downturn. The most prominent rate of growth was recorded in 2013 with an increase of 9.2%. The volume of export peaked at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, lamb and sheep meat exports skyrocketed to $X in 2021. Overall, exports, however, continue to indicate a slight contraction. The pace of growth was the most pronounced in 2013 when exports increased by 21% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

India represented the largest exporter of lamb and sheep meat in Asia, with the volume of exports accounting for X tons, which was approx. 39% of total exports in 2021. It was distantly followed by Pakistan (X tons), China (X tons), Turkey (X tons), the United Arab Emirates (X tons) and Kazakhstan (X tons), together comprising a 39% share of total exports. Armenia (X tons), Jordan (X tons), Singapore (X tons), Bangladesh (X tons), Georgia (X tons), Mongolia (X tons) and Saudi Arabia (X tons) took a relatively small share of total exports.

Exports from India decreased at an average annual rate of -5.2% from 2012 to 2021. At the same time, Turkey (+58.2%), Bangladesh (+36.8%), Kazakhstan (+12.9%), the United Arab Emirates (+7.8%), Georgia (+7.5%) and Singapore (+2.7%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in Asia, with a CAGR of +58.2% from 2012-2021. By contrast, Armenia (-4.2%), China (-5.3%), Jordan (-5.4%), Mongolia (-6.3%), Pakistan (-11.1%) and Saudi Arabia (-19.2%) illustrated a downward trend over the same period. Turkey (+6.2 p.p.), the United Arab Emirates (+4.1 p.p.), Kazakhstan (+3.9 p.p.) and Bangladesh (+2 p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia and Pakistan saw its share reduced by -6.4% and -12.7% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) remains the largest lamb and sheep meat supplier in Asia, comprising 38% of total exports. The second position in the ranking was held by Pakistan ($X), with an 18% share of total exports. It was followed by China, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value in India amounted to -2.8%. In the other countries, the average annual rates were as follows: Pakistan (-5.6% per year) and China (-0.8% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, growing by 7.4% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.7%. The growth pace was the most rapid in 2013 when the export price increased by 10% against the previous year. The level of export peaked in 2021 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was China ($X per ton), while Mongolia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Pakistan (+6.2%), while the other leaders experienced more modest paces of growth.

Imports of Lamb and Sheep Meat

Imports in Asia

In 2021, lamb and sheep meat imports in Asia was estimated at X tons, increasing by 3% against the year before. Total imports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +6.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -4.8% against 2019 indices. The pace of growth was the most pronounced in 2017 with an increase of 34%. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, lamb and sheep meat imports surged to $X in 2021. Over the period under review, imports continue to indicate a resilient increase. The pace of growth appeared the most rapid in 2017 when imports increased by 34% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the near future.

Imports by Country

China prevails in imports structure, reaching X tons, which was approx. 62% of total imports in 2021. It was distantly followed by the United Arab Emirates (X tons), generating a 5.5% share of total imports. The following importers - Malaysia (X tons), Qatar (X tons), Saudi Arabia (X tons), Japan (X tons), South Korea (X tons), Taiwan (Chinese) (X tons), Iran (X tons), Singapore (X tons), Kuwait (X tons), Jordan (X tons) and Oman (X tons) - together made up 28% of total imports.

Imports into China increased at an average annual rate of +14.3% from 2012 to 2021. At the same time, South Korea (+16.0%), Iran (+7.3%), Malaysia (+5.4%), Singapore (+4.4%), Oman (+2.5%), Kuwait (+1.3%) and Japan (+1.3%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Asia, with a CAGR of +16.0% from 2012-2021. Taiwan (Chinese) and Qatar experienced a relatively flat trend pattern. By contrast, the United Arab Emirates (-1.2%), Jordan (-4.8%) and Saudi Arabia (-9.7%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China increased by +29 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported lamb and sheep meat in Asia, comprising 58% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 6.6% share of total imports. It was followed by Japan, with a 4.6% share.

From 2012 to 2021, the average annual growth rate of value in China totaled +21.2%. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (+1.8% per year) and Japan (+4.6% per year).

Import Prices by Country

In 2021, the import price in Asia amounted to $X per ton, with an increase of 14% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.3%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+6.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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