Beef and buffalo meat market in Australia

Earlier Report Observations

At the start of the period from 2018 to 2019, the Australian beef and buffalo meat market volume remained stable at around 1 130 thousand tons. This stability coincided with the roll-out of the Meat Standards Australia program to improve eating quality and rising consumer demand for high-quality branded products, which supported domestic consumption, while exports expanded under preferential trade agreements covering a significant share of production.

Market volume fell to 1 023 thousand tons in 2020 due to supply chain shocks and operational uncertainties caused by the COVID-19 pandemic. The decline continued to 928 thousand tons in 2021, influenced by ongoing global supply chain disruptions, while African swine fever outbreaks in China heightened international demand for protein, shifting some production focus toward export markets.

A recovery began in 2022 as market volume rose to 966 thousand tons, supported by investments in processing infrastructure and joint ventures aimed at boosting capacity. Growth accelerated to 1 060 thousand tons in 2023, driven by technological advancements in meat processing and packaging, alongside increasing consumer preference for premium and organic beef products.

Production beef and buffalo meat in Australia

In kind, 2018-2021, K t

Globally, Australia ranked as the 7th largest producer of beef and buffalo meat from 2018 to 2021.

Top producers of beef and buffalo meat, 2018-2021

World map of production of beef and buffalo meat, 2018-2021

Australia's beef and buffalo meat production declined for the second year in a row. In 2021, the country produced 1 894 K t, marking a 10.9% decrease from the previous year. Over the 2018-2021 period, production fell by 18%, with an average annual decline of 6.4%. The highest production volume was in 2019 at 2 432 K t, which saw a 5.3% increase. The largest drop occurred in 2020, with a 12.6% decrease.

Annual dynamics of production in Australia in kind, 2018-2021, K t

In value, 2018-2021, M $ US

In 2021, the value of beef and buffalo meat output in Australia reached 13 313 M $ US, up 4.9% from the previous year. From 2018 to 2021, production value grew by 4.8%, averaging a 1.6% annual increase. The lowest value was recorded in 2020 at 12 692 M $ US, with a 9.5% decline. The peak was in 2019 at 14 024 M $ US, reflecting a 10.4% rise.

Annual dynamics of production in Australia in value, 2018-2021, M $ US

Exports beef and buffalo meat from Australia

Exports in kind, K t

Beef and buffalo meat exports from Australia fell for the second consecutive year. In 2021, exports totaled 974 K t, down 12.0% from 2020. Over the 2018-2021 span, exports decreased by 17.3%, with an average annual drop of 6.1%. The highest export volume was in 2019 at 1 304 K t, which increased by 10.8%. The sharpest decline was in 2020, with a 15.1% reduction.

Annual dynamics of product's exports from Australia in kind, 2018-2021, K t

From 2018 to 2021, Japan, China, and the United States were the top destinations for Australia's beef and buffalo meat exports by volume. Japan accounted for 24.2% of exports, China for 19.7%, and the United States for 18.4%, together making up 62.3% of total export flows.

Structure of product's exports in kind by countries, 2018-2021

World map of product's exports from Australia in kind, 2018-2021

Exports in value, M $ US

In 2021, Australia's beef and buffalo meat exports were valued at 6 844 M $ US, showing a moderate 3.5% increase year-over-year. Between 2018 and 2021, export value rose by 5.7%, with an average annual growth rate of 1.9%. The peak value was in 2019 at 7 517 M $ US, which surged by 16.1%. The largest decrease occurred in 2020, with a 12.1% decline.

Annual dynamics of product's exports from Australia in value, 2018-2021, M $ US

During 2018-2021, Japan, the United States, and China were the leading markets for Australia's beef and buffalo meat exports by value. Japan represented 23.2% of export value, the United States 19.9%, and China 19.7%, collectively accounting for 62.8% of total export flows.

Structure of product's exports in value by countries, 2018-2021

World map of product's exports from Australia in value, 2018-2021

Imports beef and buffalo meat to Australia

Imports in kind, K t

Beef and buffalo meat imports into Australia grew for the third year in a row. In 2021, imports reached 8 K t, a 77.7% increase from the previous year. From 2018 to 2021, import volume surged by 252.9%, with an average annual growth rate of 52.2%.

Annual dynamics of product's imports to Australia in kind, 2018-2021, K t

From 2018 to 2021, New Zealand and Japan were the primary sources for beef and buffalo meat imports into Australia by volume, together representing 70.2% of total import flows.

Structure of product's imports in kind by countries, 2018-2021

World map of product's imports to Australia in kind, 2018-2021

Imports in value, M $ US

Beef and buffalo meat imports into Australia continued to rise for the third consecutive year. In 2021, imports were valued at 50 M $ US, jumping 92.7% from the previous year. Over the 2018-2021 period, import value soared by 317.1%, with an average annual increase of 61.0%.

Annual dynamics of product's imports to Australia in value, 2018-2021, M $ US

Throughout 2018-2021, New Zealand and Japan dominated Australia's beef and buffalo meat imports by value, accounting for 72.2% of total import flows.

Structure of product's imports in value by countries, 2018-2021

World map of product's imports to Australia in value, 2018-2021