Malaysia: Market for Lamb and Sheep Meat 2024

Market Size for Lamb and Sheep Meat in Malaysia

The Malaysian lamb and sheep meat market skyrocketed to $X in 2022, increasing by X% against the previous year. In general, consumption showed strong growth. 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 Malaysia

In value terms, lamb and sheep meat production stood at $X in 2022 estimated in export price. Overall, production saw mild growth. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

The average yield of lamb and sheep meat in Malaysia stood at X kg per head in 2022, remaining relatively unchanged against the previous year's figure. Over the period under review, the yield saw a relatively flat trend pattern. The lamb and sheep meat yield peaked in 2022 and is likely to see steady growth in years to come.

In 2022, approx. X heads of animals slaughtered for lamb and sheep meat production in Malaysia; growing by X% compared with the previous year. Over the period under review, the total number of producing animals indicated strong growth from 2012 to 2022: its figure 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, number of animals slaughtered for lamb and sheep meat production decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2013 with an increase of X%. The number of animals slaughtered for lamb and sheep meat production peaked at X heads in 2020; however, from 2021 to 2022, producing animals failed to regain momentum.

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Exports of Lamb and Sheep Meat

Exports from Malaysia

In 2022, approx. X tons of lamb and sheep meat were exported from Malaysia; jumping by X% on the previous year. In general, exports saw a noticeable increase. The pace of growth was the most pronounced in 2018 with an increase of X%. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, lamb and sheep meat exports surged to $X in 2022. Over the period under review, exports, however, saw a perceptible downturn. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Oman (X tons) was the main destination for lamb and sheep meat exports from Malaysia, accounting for a X% share of total exports. Moreover, lamb and sheep meat exports to Oman exceeded the volume sent to the second major destination, China (X tons), threefold. The third position in this ranking was taken by New Zealand (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Oman totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and New Zealand (X% per year).

In value terms, New Zealand ($X), Oman ($X) and China ($X) appeared to be the largest markets for lamb and sheep meat exported from Malaysia worldwide, with a combined X% share of total exports.

Among the main countries of destination, New Zealand, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average lamb and sheep meat export price stood at $X per ton in 2022, falling by X% against the previous year. In general, the export price saw a abrupt setback. The growth pace was the most rapid in 2017 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cambodia ($X per ton), while the average price for exports to Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to New Zealand (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Lamb and Sheep Meat

Imports into Malaysia

In 2022, approx. X tons of lamb and sheep meat were imported into Malaysia; rising by X% against the previous year. In general, 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. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, lamb and sheep meat imports soared to $X in 2022. Overall, imports posted buoyant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Australia (X tons) constituted the largest lamb and sheep meat supplier to Malaysia, accounting for a X% share of total imports. Moreover, lamb and sheep meat imports from Australia exceeded the figures recorded by the second-largest supplier, New Zealand (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume from Australia totaled X%.

In value terms, Australia ($X) constituted the largest supplier of lamb and sheep meat to Malaysia, comprising X% of total imports. The second position in the ranking was taken by New Zealand ($X), with a X% share of total imports.

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

Import Prices by Country

In 2022, the average lamb and sheep meat import price amounted to $X per ton, growing by X% against the previous year. Over the period under review, import price indicated pronounced 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 2017 an increase of X% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is likely to see gradual growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was New Zealand ($X per ton), while the price for Australia stood at $X per ton.

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

Source: IndexBox Platform

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