Global Sheep Meat Market to Grow at a CAGR of 1.6% During 2024-2032, Driven by the Growing Demand for Protein-Rich Food

The Asia Pacific holds a significant market share of the market due to the presence of 13.7% of the world's sheep population in China and a significant number of sheep flocks in India and Australia. Meanwhile, the Middle East and Africa sheep meat market growth is being aided by the high consumption rate of mutton in the Arab States, such as Oman, Saudi Arabia, and Kuwait, due to its taste and cooking style. The high per capita income and economic growth of the Gulf region further support the consumption of imported foods such as lamb and sheep meat.

The delicate taste of sheep meat and its associated nutritional benefits aid the market growth of sheep meat. In August 2023, the Australian Bureau of Statistics (ABS) highlighted the growth in mutton output overall and record lamb production. In 2022, Australia produced the most lamb ever recorded, according to Meat and Livestock Australia (MLA).

Lamb producers tracked 7.7% over year-over-year levels, or 20,000 metric tonnes, for the first half of 2023. June 2023 marked the processing of over 11.5 million lambs, making it the second-highest start to a year since 2018. The sale of animals to processors brought in USD 4.8 billion for lamb and sheep farmers in the 2023 fiscal year in Australia. Besides, the growing sales of sheet meat on online platforms like Walmart (NYSE: WMT) are positively influencing the market growth.

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Market Analysis by Nature, Product Type, Offering, Distribution Channel, and Region:

• The market, on the basis of nature, can be divided into organic and conventional.

• On the basis of product type, the market can be divided into fresh, frozen, and processed.

• Based on offering, the market can be divided into neck, shoulder, rib, breast, leg, and foreshank, among others.

• The various distribution channels for sheep meat include direct and indirect.

• The major regional markets for sheep meat include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• With the growing focus on health and wellness, the demand for protein-rich foods is significantly rising. Protein supplements dominate the sports nutrition segment, accounting for 70% of total intake. Being a protein-rich food item, sheep meat demand is also growing.

• Cultural and religious preferences also influence the sheep meat market demand. As pork is banned in Middle Eastern countries as per Islamic laws, mutton and sheep meat are preferred in the region.

• Advancements in breeding and genetics have led to the production of sheep breeds that are efficient in quality. This, coupled with the development of meat standards such as selective breeding, is enhancing the efficiency of mutton production while improving the quality of sheep meat.

• Consumer awareness towards sustainability and ethical sourcing are prompting sheep farmers and key players to adopt economical, socially, and environmentally responsible practices.

Key Offerings of the Report:

• The EMR report gives an overview of the global sheep meat market for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the nature, product types, offerings, distribution channels, and major regions of sheep meat.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global sheep meat market are Samex Australian Meat Co Pty Ltd., Southern Meats Pty Ltd, Sydra Global, Irish Country Meats, and Western Meat Exporters Pty Ltd, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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