Eastern Asia: Goat Meat Market 2024

Goat Meat Market Size in Eastern Asia

In 2023, the East Asian goat meat market decreased by X% to $X, falling for the second consecutive year after five years of growth. The market value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level at $X in 2021; however, from 2022 to 2023, consumption stood at a somewhat lower figure.

Goat Meat Production in Eastern Asia

In value terms, goat meat production declined to $X in 2023 estimated in export price. The total production indicated a perceptible expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. The level of production peaked at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.

China (X tons) remains the largest goat meat producing country in Eastern Asia, accounting for X% of total volume.

From 2012 to 2023, the average annual rate of growth in terms of volume in China stood at X%.

The average goat meat yield stood at X kg per head in 2023, leveling off at 2022 figures. The yield figure increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2017 when the yield increased by X%. Over the period under review, the goat meat yield attained the peak level at X kg per head in 2020; however, from 2021 to 2023, the yield failed to regain momentum.

In 2023, approx. X heads of animals slaughtered for goat meat production in Eastern Asia; remaining relatively unchanged against 2022. Over the period under review, the number of producing animals recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, this number hit record highs at X heads in 2016; however, from 2017 to 2023, producing animals stood at a somewhat lower figure.

Goat Meat Exports

Exports in Eastern Asia

For the third year in a row, Eastern Asia recorded decline in overseas shipments of goat meat, which decreased by X% to X tons in 2023. In general, exports faced a dramatic shrinkage. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, goat meat exports fell notably to $X in 2023. Overall, exports faced a sharp reduction. The pace of growth was the most pronounced in 2014 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2017; however, from 2018 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

China represented the major exporter of goat meat in Eastern Asia, with the volume of exports resulting at X tons, which was approx. X% of total exports in 2023. It was distantly followed by Hong Kong SAR (X tons), constituting a X% share of total exports. Japan (X tons) held a little share of total exports.

From 2012 to 2023, average annual rates of growth with regard to goat meat exports from China stood at X%. Hong Kong SAR (X%) and Japan (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Hong Kong SAR and Japan increased by X and X percentage points, respectively.

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

From 2012 to 2023, the average annual growth rate of value in China totaled X%. In the other countries, the average annual rates were as follows: Hong Kong SAR (X% per year) and Japan (X% per year).

Export Prices by Country

In 2023, the export price in Eastern Asia amounted to $X per ton, shrinking by X% against the previous year. Export price indicated mild growth 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. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. The level of export peaked at $X per ton in 2022, and then dropped dramatically in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was China ($X per ton), while Japan ($X per ton) was amongst the lowest.

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

Goat Meat Imports

Imports in Eastern Asia

After two years of growth, supplies from abroad of goat meat decreased by X% to X tons in 2023. In general, imports showed a mild reduction. The pace of growth was the most pronounced in 2013 when imports increased by X%. As a result, imports reached the peak of X tons. From 2014 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, goat meat imports surged to $X in 2023. Over the period under review, imports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. The level of import peaked in 2023 and is expected to retain growth in the immediate term.

Imports by Country

South Korea (X tons) and Taiwan (Chinese) (X tons) prevails in imports structure, together comprising X% of total imports. Hong Kong SAR (X tons) took the next position in the ranking, followed by Japan (X tons) and China (X tons). All these countries together took approx. X% share of total imports. Macao SAR (X tons) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by South Korea (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), South Korea ($X) and Taiwan (Chinese) ($X) were the countries with the highest levels of imports in 2023, with a combined X% share of total imports.

China, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in Eastern Asia amounted to $X per ton, picking up by X% against the previous year. Over the period under review, the import price posted buoyant growth. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

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

Source: IndexBox Platform