Asia: Market for Lamb and Sheep Meat 2024

Market Size for Lamb and Sheep Meat in Asia

The Asian lamb and sheep meat market contracted modestly to $X in 2022, approximately reflecting the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2021, and then dropped slightly in the following year.

Production of Lamb and Sheep Meat in Asia

In value terms, lamb and sheep meat production reduced slightly to $X in 2022 estimated in export price. The total production indicated pronounced 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, production decreased by X% against 2019 indices. The growth pace was the most rapid in 2017 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

China (X tons) constituted the country with the largest volume of lamb and sheep meat production, comprising approx. X% of total volume. Moreover, lamb and sheep meat production in China exceeded the figures recorded by the second-largest producer, Turkey (X tons), sevenfold. India (X tons) ranked third in terms of total production with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China totaled X%. In the other countries, the average annual rates were as follows: Turkey (X% per year) and India (X% per year).

In 2022, the average yield of lamb and sheep meat in Asia amounted to X kg per head, almost unchanged from 2021 figures. In general, the yield, however, saw a mild downturn. The pace of growth appeared the most rapid in 2015 when the yield increased by X% against the previous year. The level of yield peaked at X kg per head in 2012; however, from 2013 to 2022, the yield failed to regain momentum.

In 2022, approx. X heads of animals slaughtered for lamb and sheep meat production in Asia; which is down by X% on the year before. 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. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, this number attained the peak level at X heads in 2021, and then declined slightly in the following year.

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Exports of Lamb and Sheep Meat

Exports in Asia

In 2022, shipments abroad of lamb and sheep meat was finally on the rise to reach X tons after three years of decline. In general, exports recorded a relatively flat trend pattern. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, lamb and sheep meat exports skyrocketed to $X in 2022. Total exports indicated notable 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, exports increased by X% against 2020 indices. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

India (X tons) and Kazakhstan (X tons) represented roughly X% of total exports in 2022. Turkey (X tons) held the next position in the ranking, followed by Pakistan (X tons) and Mongolia (X tons). All these countries together held approx. X% share of total exports. The following exporters - China (X tons) and the United Arab Emirates (X tons) - each reached a X% share of total exports.

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

In value terms, India ($X), Kazakhstan ($X) and Turkey ($X) constituted the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

Kazakhstan, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, dropping by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2021 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton, and then contracted in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, 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 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced more modest paces of growth.

Imports of Lamb and Sheep Meat

Imports in Asia

Lamb and sheep meat imports declined modestly to X tons in 2022, standing approx. at 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. Based on 2022 figures, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, lamb and sheep meat imports amounted to $X in 2022. In general, imports, however, showed prominent growth. The growth pace was the most rapid in 2017 when imports increased by X%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

China dominates imports structure, resulting at X tons, which was near X% of total imports in 2022. Malaysia (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by the United Arab Emirates (X%). South Korea (X tons), Qatar (X tons), Japan (X tons), Saudi Arabia (X tons), Taiwan (Chinese) (X tons), Kuwait (X tons), Jordan (X tons) and Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to lamb and sheep meat imports into China stood at X%. At the same time, South Korea (X%), Malaysia (X%), Kuwait (X%), Singapore (X%), Japan (X%), the United Arab Emirates (X%) and Qatar (X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2022. Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, Jordan (X%) and Saudi Arabia (X%) illustrated a downward trend over the same period. While the share of China (X p.p.), Kuwait (X p.p.) and South Korea (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Taiwan (Chinese) (X p.p.), Qatar (X p.p.), the United Arab Emirates (X p.p.), Jordan (X p.p.) and Saudi Arabia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In China, lamb and sheep meat imports increased 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: the United Arab Emirates (X% per year) and Malaysia (X% per year).

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, rising by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2021 when the import price increased by X% against the previous year. The level of import peaked in 2022 and is likely to continue growth in the immediate term.

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 Japan ($X per ton), while Saudi Arabia ($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 (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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