Asia-Pacific: Market for Lamb and Sheep Meat 2024

Market Size for Lamb and Sheep Meat in Asia-Pacific

The Asia-Pacific lamb and sheep meat market declined modestly to $X in 2022, approximately equating the previous year. The total consumption indicated a tangible expansion 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, consumption decreased by X% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Lamb and Sheep Meat in Asia-Pacific

In value terms, lamb and sheep meat production dropped slightly to $X in 2022 estimated in export price. The total production indicated a measured expansion 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 most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

China (X tons) constituted the country with the largest volume of lamb and sheep meat production, accounting for X% of total volume. Moreover, lamb and sheep meat production in China exceeded the figures recorded by the second-largest producer, Australia (X tons), fourfold. The third position in this ranking was taken by New Zealand (X tons), with a X% share.

In China, lamb and sheep meat production increased at an average annual rate of X% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Australia (X% per year) and New Zealand (X% per year).

The average lamb and sheep meat yield reached X kg per head in 2022, with an increase of X% compared with 2021 figures. In general, the yield, however, continues to indicate a relatively flat trend pattern. The level of yield peaked at X kg per head in 2016; however, from 2017 to 2022, the yield failed to regain momentum.

In 2022, number of animals slaughtered for lamb and sheep meat production in Asia-Pacific dropped slightly to X heads, which is down by X% compared with the previous year. This number increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. The level of producing animals peaked at X heads in 2021, and then shrank modestly in the following year.

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Exports of Lamb and Sheep Meat

Exports in Asia-Pacific

Lamb and sheep meat exports dropped slightly to X tons in 2022, remaining stable against the previous year. The total export volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when exports increased by X%. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, lamb and sheep meat exports amounted to $X in 2022. Total exports indicated a moderate expansion 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 when exports increased by X%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

The shipments of the two major exporters of lamb and sheep meat, namely Australia and New Zealand, represented more than two-thirds of total export.

From 2012 to 2022, the biggest increases were recorded for Australia (with a CAGR of X%).

In value terms, Australia ($X) and New Zealand ($X) appeared to be the countries with the highest levels of exports in 2022.

Australia, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review.

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, stabilizing at the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was New Zealand ($X per ton), while Australia amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (X%).

Imports of Lamb and Sheep Meat

Imports in Asia-Pacific

In 2022, imports of lamb and sheep meat in Asia-Pacific declined to X tons, shrinking by X% against the previous year. Total imports indicated a prominent expansion 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 2016 indices. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2021, and then fell in the following year.

In value terms, lamb and sheep meat imports declined to $X in 2022. Over the period under review, imports, however, continue to indicate a resilient expansion. The pace of growth was the most pronounced in 2013 with an increase of X%. Over the period under review, imports reached the peak figure at $X in 2021, and then declined slightly in the following year.

Imports by Country

China prevails in imports structure, accounting for X tons, which was approx. X% of total imports in 2022. Malaysia (X tons) ranks second in terms of the total imports with an X% share, followed by South Korea (X%). The following importers - Japan (X tons), Taiwan (Chinese) (X tons), Papua New Guinea (X tons) and Singapore (X tons) - together made up X% of total imports.

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%), Singapore (X%) and Japan (X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of X% from 2012-2022. Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, Papua New Guinea (X%) illustrated a downward trend over the same period. While the share of China (X p.p.) and South Korea (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Japan (X p.p.), Taiwan (Chinese) (X p.p.) and Papua New Guinea (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported lamb and sheep meat in Asia-Pacific, comprising X% of total imports. The second position in the ranking was taken by Malaysia ($X), with an X% share of total imports. It was followed by South Korea, with a X% share.

From 2012 to 2022, the average annual growth rate of value in China totaled X%. In the other countries, the average annual rates were as follows: Malaysia (X% per year) and South Korea (X% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, with an increase of X% against the previous year. Import price indicated notable 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 import price increased by X% against 2015 indices. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices reached the maximum 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 Japan ($X per ton), while Papua New Guinea ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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