Eastern Asia: Market for Lamb and Sheep Meat 2024

Market Size for Lamb and Sheep Meat in Eastern Asia

The East Asian lamb and sheep meat market shrank slightly to $X in 2022, with a decrease of X% against the previous year. The total consumption indicated a temperate increase 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 increased by X% against 2016 indices. The level of consumption peaked at $X in 2021, and then dropped modestly in the following year.

Production of Lamb and Sheep Meat in Eastern Asia

In value terms, lamb and sheep meat production reduced slightly to $X in 2022 estimated in export price. The total production indicated a moderate increase 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. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

The country with the largest volume of lamb and sheep meat production was China (X tons), accounting for X% of total volume.

In China, lamb and sheep meat production expanded at an average annual rate of X% over the period from 2012-2022.

In 2022, the average lamb and sheep meat yield in Eastern Asia totaled X kg per head, growing by X% against the previous year. Overall, the yield, however, showed a slight decline. Over the period under review, the lamb and sheep meat yield reached the peak level at X kg per head in 2016; however, from 2017 to 2022, the yield stood at a somewhat lower figure.

The global number of animals slaughtered for lamb and sheep meat production declined to X heads in 2022, with a decrease of X% compared with the previous year's figure. This number increased at an average annual rate of X% over the period from 2012 to 2022; 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 X%. The level of producing animals peaked at X heads in 2021, and then reduced slightly in the following year.

Exports of Lamb and Sheep Meat

Exports in Eastern Asia

In 2022, exports of lamb and sheep meat in Eastern Asia reduced to X tons, which is down by X% against the previous year's figure. In general, exports saw a drastic downturn. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, lamb and sheep meat exports dropped to $X in 2022. Overall, exports saw a mild curtailment. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, China (X tons) was the major exporter of lamb and sheep meat, creating X% of total exports. It was distantly followed by Hong Kong SAR (X tons), comprising a X% share of total exports.

China was also the fastest-growing in terms of the lamb and sheep meat exports, with a CAGR of X% from 2012 to 2022. Hong Kong SAR (X%) illustrated a downward trend over the same period. While the share of China (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Hong Kong SAR (X p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest lamb and sheep meat supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with an X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in China stood at X%.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, falling by X% against the previous year. Export 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 export price increased by X% against 2015 indices. The growth pace was the most rapid in 2020 an increase of X%. Over the period under review, the export prices attained the maximum at $X per ton in 2021, and then contracted in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per ton), while Hong Kong SAR totaled $X per ton.

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

Imports of Lamb and Sheep Meat

Imports in Eastern Asia

Lamb and sheep meat imports contracted to X tons in 2022, waning by X% against 2021. Over the period under review, imports, however, recorded a resilient increase. The growth pace was the most rapid in 2013 when imports increased by X%. Over the period under review, imports attained the peak figure at X tons in 2021, and then shrank in the following year.

In value terms, lamb and sheep meat imports fell to $X in 2022. In general, imports, however, showed a resilient expansion. The pace of growth was the most pronounced in 2013 when imports increased by X%. Over the period under review, imports attained the peak figure at $X in 2021, and then dropped in the following year.

Imports by Country

China dominates imports structure, accounting for X tons, which was near X% of total imports in 2022. It was distantly followed by South Korea (X tons) and Japan (X tons), together generating an X% share of total imports. Taiwan (Chinese) (X tons) followed a long way behind the leaders.

Imports into China increased at an average annual rate of X% from 2012 to 2022. At the same time, South Korea (X%) and Japan (X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of X% from 2012-2022. Taiwan (Chinese) experienced a relatively flat trend pattern. 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.) and Taiwan (Chinese) (X p.p.) displayed negative dynamics.

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

From 2012 to 2022, the average annual growth rate of value in China stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (X% per year) and Japan (X% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, growing by X% against the previous year. Import price indicated tangible 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 2016 indices. The most prominent rate of growth was recorded in 2016 an increase of X%. Over the period under review, import prices attained the peak figure in 2022 and is likely to see gradual growth in years to come.

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 ($X per ton), while China ($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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