ASEAN: Market for Lamb and Sheep Meat 2024

Market Size for Lamb and Sheep Meat in ASEAN

The ASEAN lamb and sheep meat market totaled $X in 2022, increasing by X% against the previous year. The market value 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. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Lamb and Sheep Meat in ASEAN

In value terms, lamb and sheep meat production reduced to $X in 2022 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Indonesia (X tons) remains the largest lamb and sheep meat producing country in ASEAN, accounting for X% of total volume. Moreover, lamb and sheep meat production in Indonesia exceeded the figures recorded by the second-largest producer, Malaysia (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume in Indonesia amounted to X%. The remaining producing countries recorded the following average annual rates of production growth: Malaysia (X% per year) and Myanmar (X% per year).

In 2022, the average yield of lamb and sheep meat in ASEAN fell to X kg per head, which is down by X% compared with 2021 figures. Over the period under review, the yield continues to indicate a mild reduction. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The level of yield peaked at X kg per head in 2017; however, from 2018 to 2022, the yield remained at a lower figure.

In 2022, number of animals slaughtered for lamb and sheep meat production in ASEAN amounted to X heads, surging by X% on the previous year. 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 throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. As a result, the amount of producing animals attained the peak level of X heads. From 2019 to 2022, the growth of this number remained at a lower figure.

Exports of Lamb and Sheep Meat

Exports in ASEAN

In 2022, shipments abroad of lamb and sheep meat decreased by X% to X tons, falling for the third consecutive year after three years of growth. Overall, exports, however, saw notable growth. The pace of growth appeared the most rapid in 2018 when exports increased by X%. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, lamb and sheep meat exports shrank notably to $X in 2022. In general, exports, however, saw a modest expansion. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

In 2022, Singapore (X tons) represented the major exporter of lamb and sheep meat, generating X% of total exports. It was distantly followed by Malaysia (X tons), comprising a X% share of total exports.

Singapore was also the fastest-growing in terms of the lamb and sheep meat exports, with a CAGR of X% from 2012 to 2022. At the same time, Malaysia (X%) displayed positive paces of growth. While the share of Singapore (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Malaysia (X p.p.) displayed negative dynamics.

In value terms, Singapore ($X) remains the largest lamb and sheep meat supplier in ASEAN, comprising X% of total exports. The second position in the ranking was taken by Malaysia ($X), with an X% share of total exports.

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

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, declining by X% against the previous year. In general, the export price saw a noticeable descent. The pace of growth appeared the most rapid in 2021 an increase of X%. As a result, the export price attained the peak level of $X per ton, and then contracted significantly in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Malaysia totaled $X per ton.

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

Imports of Lamb and Sheep Meat

Imports in ASEAN

In 2022, lamb and sheep meat imports in ASEAN soared to X tons, rising by X% against the year before. 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 reached 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 recorded a resilient expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Malaysia was the main importer of lamb and sheep meat in ASEAN, with the volume of imports reaching X tons, which was near X% of total imports in 2022. Singapore (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Indonesia (X%). The following importers - Thailand (X tons) and Vietnam (X tons) - each reached a X% share of total imports.

Imports into Malaysia increased at an average annual rate of X% from 2012 to 2022. At the same time, Indonesia (X%), Vietnam (X%), Singapore (X%) and Thailand (X%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in ASEAN, with a CAGR of X% from 2012-2022. While the share of Malaysia (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Singapore (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In Malaysia, lamb and sheep meat imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Singapore (X% per year) and Indonesia (X% per year).

Import Prices by Country

In 2022, the import price in ASEAN 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 2017 when the import price increased by X%. Over the period under review, import prices hit record highs in 2022 and is likely to continue 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 Thailand ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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