Latin America and the Caribbean: Goat Meat Market 2024

Goat Meat Market Size in Latin America and the Caribbean

The Latin American goat meat market contracted modestly to $X in 2022, approximately equating the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Goat Meat Production in Latin America and the Caribbean

In value terms, goat meat production shrank modestly 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 pace of growth appeared the most rapid in 2019 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

The countries with the highest volumes of production in 2022 were Mexico (X tons), Brazil (X tons) and Argentina (X tons), with a combined X% share of total production. Bolivia, Cuba, Venezuela, Haiti and Peru lagged somewhat behind, together comprising a further X%.

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

The average goat meat yield shrank to X kg per head in 2022, remaining constant against the previous year's figure. In general, the yield, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the yield increased by X% against the previous year. Over the period under review, the goat meat yield reached the maximum level at X kg per head in 2021, and then dropped in the following year.

In 2022, number of animals slaughtered for goat meat production in Latin America and the Caribbean reduced to X heads, approximately mirroring the previous year's figure. Over the period under review, the number of producing animals, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The level of producing animals peaked at X heads in 2021, and then fell slightly in the following year.

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Goat Meat Exports

Exports in Latin America and the Caribbean

In 2022, approx. X tons of goat meat were exported in Latin America and the Caribbean; waning by X% compared with the previous year's figure. Overall, exports, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons, and then fell remarkably in the following year.

In value terms, goat meat exports contracted significantly to $X in 2022. In general, exports, however, recorded a noticeable increase. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X, and then shrank dramatically in the following year.

Exports by Country

Argentina was the largest exporting country with an export of about X tons, which recorded X% of total exports. Mexico (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Uruguay (X%).

Exports from Argentina increased at an average annual rate of X% from 2012 to 2022. At the same time, Uruguay (X%) and Mexico (X%) displayed positive paces of growth. Moreover, Uruguay emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. Argentina (X p.p.) and Uruguay (X p.p.) significantly strengthened its position in terms of the total exports, while Mexico saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Mexico ($X) remains the largest goat meat supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Argentina ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Mexico stood at X%. In the other countries, the average annual rates were as follows: Argentina (X% per year) and Uruguay (X% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, waning by X% against the previous year. Over the period under review, the export price showed a deep slump. The pace of growth appeared the most rapid in 2017 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2021, and then dropped significantly 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 Mexico ($X per ton), while Argentina ($X per ton) was amongst the lowest.

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

Goat Meat Imports

Imports in Latin America and the Caribbean

In 2022, overseas purchases of goat meat were finally on the rise to reach X tons after two years of decline. Over the period under review, imports, however, continue to indicate a deep slump. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, goat meat imports soared to $X in 2022. Overall, imports, however, saw a relatively flat trend pattern. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Trinidad and Tobago (X tons) was the main importer of goat meat, generating X% of total imports. Antigua and Barbuda (X tons) took the second position in the ranking, followed by Cayman Islands (X tons) and Saint Lucia (X tons). All these countries together took approx. X% share of total imports. Jamaica (X tons), Bahamas (X tons) and Haiti (X tons) held a little share of total imports.

Imports into Trinidad and Tobago decreased at an average annual rate of X% from 2012 to 2022. At the same time, Saint Lucia (X%), Haiti (X%), Antigua and Barbuda (X%) and Cayman Islands (X%) displayed positive paces of growth. Moreover, Saint Lucia emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. By contrast, Bahamas (X%) and Jamaica (X%) illustrated a downward trend over the same period. Trinidad and Tobago (X p.p.), Antigua and Barbuda (X p.p.), Saint Lucia (X p.p.), Cayman Islands (X p.p.) and Haiti (X p.p.) significantly strengthened its position in terms of the total imports, while Jamaica saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Trinidad and Tobago ($X) constitutes the largest market for imported goat meat in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was held by Cayman Islands ($X), with a X% share of total imports. It was followed by Antigua and Barbuda, with a X% share.

In Trinidad and Tobago, 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: Cayman Islands (X% per year) and Antigua and Barbuda (X% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, increasing by X% against the previous year. Import price indicated a strong increase 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, goat meat import price increased by X% against 2012 indices. The pace of growth appeared the most rapid in 2019 when the import price increased by X%. Over the period under review, import prices reached the peak figure in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Trinidad and Tobago ($X per ton), while Antigua and Barbuda ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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