GLOBAL SHEEP MEAT RELATIONSHIP
Global sheep meat relationship…
The global sheep meat consumption is growing. Thus far, the outlook is positive and driven by population growth. The household wealth increase in developing countries are helping too.
So, in most markets, lamb and mutton remain a niche meat in consumer diets. It is in comparison to pork, beef and poultry. Thus far, sheep meat experiences a few challenges. It is mostly for people to be able to afford and be familiar with sheep meat. Hence, there are many hopes for target markets and growth.
Global consumption
Global sheep meat consumption may benefit from economic and population growth. Projection is that eight of Australia’s top 10 sheep meat market is to expect 2% growth in the coming year. Thus far, Australia is a small producer of world’s sheep meat supply. However, it amounts to about 40% of the exports. In fact, Australia is the biggest supplier to the global market.
Thus far, sheep meat consumption is projected to grow 1.7 to 1.9% annually. So, its share of global meat protein consumption to gradually rise, however to remain below 5%.
The growth is the largest in Asia, the Middle East and Africa. So, sheep meat consumption is growing because of consumers moving into the middle- and upper-income levels. Thus far, the seek better quality meat.
Sheep meat remains a niche protein source in most developed countries. So, the per capita consumption is lower. It considers as a challenge and opportunity too.
Higher prices
In comparison to other proteins like chicken and pork, sheep meat is higher. It may continue to challenge growth and make demand susceptible to economic shocks. Thus far, there are opportunities for Australian brands to target market consumers around sustainability, animal welfare and provenance.
So far, New Zealand is the only major competitor to Australia. Thus far, their projection is flat line in coming years. Hence, it may provide chance to Australia to capture a greater share of the global market. China, underpins the recent rise in global prices. It is the world’s largest consumer and producer of sheep meat. So far, China emerges to become the leading importer over recent years. China’s import demand impacts global market prices because its domestic production is cynical.
Developing markets
Asia leads the developing markets. It is the driving force in sheep meat consumption growth. So far, it accounts for 95% of forecast growth in the next decade. Sheep meat consumption is less affected by the purchasing power in developed countries. So, consumer perceptions, availability and familiarity play a key reason to purchase sheep meat.
Thus far, in the developed market like UK, USA and Australia has preference for high quality meat, especially lamb in most cases.
The supply availability and rising price at a faster rate than other meat proteins limit consumption growth. Hence, for Australia to target export markets that have the ability to buy high quality sheep meat is the key. It needs to target households earning over USD$35,000 as one measure of the potential market size.
Consumer landscape
There is a wide variance in sheep meat consumer diets throughout the world. Thus far, it is subject to a range of cultural, social and geographical factors. It considers preferred meat in many countries. So, it is more popular in countries with predominantly Islamic countries. It has a history of producing and consuming either sheep meat or goat meat. Whereas, it is a niche meat in most developed countries.
Thus far, in European countries like the UK, France and Spain, they eat sheep meat mostly over the Easter period. However, in Muslim nations the consumption peaks during their religious festivals. So far, sheep meat includes a range of products. It may be prime lamb, mutton and high-quality loin cuts. Then there are lower value secondary cuts. These are for manufacturing products or hot pots. Thus far, each cut may hold a unique position. It may depend on the market and consumer profile.
