Australia: Market for Prepared or Preserved Meat 2024

Market Size for Prepared or Preserved Meat in Australia

The Australian prepared or preserved meat market rose remarkably to $X in 2023, growing by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained relatively stable, with only minor fluctuations in certain years. Prepared or preserved meat consumption peaked at $X in 2016; however, from 2017 to 2023, consumption stood at a somewhat lower figure.

Production of Prepared or Preserved Meat in Australia

In value terms, prepared or preserved meat production expanded significantly to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when the production volume increased by X% against the previous year. Prepared or preserved meat production peaked at $X in 2016; however, from 2017 to 2023, production remained at a lower figure.

Exports of Prepared or Preserved Meat

Exports from Australia

In 2023, overseas shipments of prepared or preserved meat decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. The total export volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when exports increased by X%. The exports peaked at X tons in 2019; however, from 2020 to 2023, the exports stood at a somewhat lower figure.

In value terms, prepared or preserved meat exports reduced modestly to $X in 2023. In general, total exports indicated a pronounced expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The exports peaked at $X in 2022, and then contracted in the following year.

Exports by Country

Japan (X tons), Papua New Guinea (X tons) and New Zealand (X tons) were the main destinations of prepared or preserved meat exports from Australia, with a combined X% share of total exports. The United States, Indonesia, Singapore, Thailand, Guam, Mauritius, South Korea and Solomon Islands lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Indonesia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for prepared or preserved meat exported from Australia were Japan ($X), the United States ($X) and New Zealand ($X), with a combined X% share of total exports. Singapore, Indonesia, Papua New Guinea, Thailand, Guam, Mauritius, South Korea and Solomon Islands lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, Indonesia, with a CAGR of X%, recorded the highest rates of growth with regard to 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

In 2023, the average prepared or preserved meat export price amounted to $X per ton, with an increase of X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2020 when the average export price increased by X%. Over the period under review, the average export prices hit record highs in 2023 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was Guam ($X per ton), while the average price for exports to Papua New Guinea ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Guam (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Prepared or Preserved Meat

Imports into Australia

In 2023, purchases abroad of prepared or preserved meat decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. In general, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when imports increased by X%. As a result, imports attained the peak of X tons. From 2016 to 2023, the growth of imports failed to regain momentum.

In value terms, prepared or preserved meat imports totaled $X in 2023. The total import value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by X%. Over the period under review, imports hit record highs in 2023 and are likely to see steady growth in the immediate term.

Imports by Country

In 2023, New Zealand (X tons) constituted the largest prepared or preserved meat supplier to Australia, with a X% share of total imports. Moreover, prepared or preserved meat imports from New Zealand exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. The third position in this ranking was held by China (X tons), with a X% share.

From 2012 to 2023, the average annual growth rate of volume from New Zealand was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and China (X% per year).

In value terms, New Zealand ($X) constituted the largest supplier of prepared or preserved meat to Australia, comprising X% of total imports. The second position in the ranking was held by the United States ($X), with a X% share of total imports. It was followed by Spain, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from New Zealand stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Spain (X% per year).

Import Prices by Country

The average prepared or preserved meat import price stood at $X per ton in 2023, growing by X% against the previous year. Over the period under review, import price indicated a noticeable expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, prepared or preserved meat import price increased by X% against 2015 indices. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. The import price peaked in 2023 and is likely to see steady growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Germany (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform