Beef and buffalo meat market in Australia and New Zealand

Earlier Report Observations

Between 2018 and 2020, the beef and buffalo meat market in Australia and New Zealand showed moderate fluctuations in volume. Consumption grew slightly to 1 385 thousand tons in 2019 before declining to 1 283 thousand tons in 2020. In value terms, the market reached 7.8 billion dollars in 2019, then contracted to 7.4 billion dollars the following year.

The market volume continued to decrease in 2021, falling to 1 176 thousand tons, while its value rose to 7.8 billion dollars. During this period, the industry saw significant innovation, with the cultured meat company Aleph Farms securing substantial funding to scale production, signaling a shift in future meat production methods. By 2022, market volume recovered to 1 205 thousand tons, and value surged by 12.8% to 8.8 billion dollars. This growth was driven by strong international demand, which placed upward pressure on prices, and a marked consumer shift towards premium, nutritious products, exemplified by growing food service sales for brands like Certified Angus Beef.

In 2023, the market volume increased further to 1 296 thousand tons, though the total value declined to 8.0 billion dollars as global commodity prices stabilized after previous volatility. Demand was supported by trends towards convenient, portion-controlled beef products and technological advances in processing that improved shelf life and traceability. Concurrently, consumer preferences continued to evolve, with a greater focus on sustainability, ethical sourcing, and organic or grass-fed options, shaping product development and marketing strategies in the sector.

Production beef and buffalo meat in Australia and New Zealand

In kind, 2018-2021, K t

Top producers of beef and buffalo meat, 2018-2021

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

Beef and buffalo meat production in Australia and New Zealand has declined for the second year in a row. In 2021, output reached 2 648 K t, which is 7.1% lower than in 2020. Looking back to 2018, production has fallen by 11.2% overall, averaging a 3.9% annual decrease. The peak was in 2019 at 3 145 K t, when production rose by 5.5%. The sharpest drop occurred in 2020, with a 9.3% decline.

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

In value, 2018-2021, M $ US

In 2021, the value of beef and buffalo meat production in Australia and New Zealand was 17 430 M $ US, up 6.8% year-on-year. Since 2018, production value has grown by 9.1%, averaging 2.9% per year. The highest value was recorded in 2019 at 17 641 M $ US, marking a 10.4% increase. The largest decrease was in 2020, with a 7.5% drop.

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

Exports beef and buffalo meat from Australia and New Zealand

Exports in kind, K t

Beef and buffalo meat exports from Australia and New Zealand have decreased for the second consecutive year. In 2021, export volume was 1 475 K t, down 6.1% from the previous year. From 2018 to 2021, exports fell by 8.2%, with an average annual decline of 2.8%. The peak volume was in 2019 at 1 764 K t, when exports grew by 9.7%. The most significant decline was in 2020, with a 10.9% drop.

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

From 2018 to 2021, China, the United States, and Japan were the top buyers of beef and buffalo meat from Australia and New Zealand in volume terms. China accounted for 25.1% of exports, the United States for 23.1%, and Japan for 18.6%. Together, these three markets made up 66.7% of total export volume.

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

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

Exports in value, M $ US

In 2021, Australia and New Zealand exported 9 710 M $ US worth of beef and buffalo meat, a 7.9% increase from the previous year. Over the period from 2018 to 2021, export value rose by 12.7%, with an average annual growth rate of 4.1%. The highest value was in 2019 at 9 894 M $ US, when exports surged by 14.8%. The largest decrease was in 2020, with a 9.1% decline.

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

Between 2018 and 2021, China, the United States, and Japan were the key markets for beef and buffalo meat exports from Australia and New Zealand in value terms. China represented 24.1% of export value, the United States 23.5%, and Japan 18.6%. Combined, these three countries accounted for 66.2% of total export value.

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

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

Imports beef and buffalo meat to Australia and New Zealand

Imports in kind, K t

Import volumes showed significant volatility during this period. In 2019, imports peaked at 4 K t, after a sharp increase of 183.7%. The lowest point was in 2018, with a top-to-bottom ratio of 2.8 times. In 2021, imports stood at 3 K t, up 2.2% from the previous year. The largest decline was in 2020, with a 19.5% drop.

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

From 2018 to 2021, the United States and Japan were consistently the main sources for beef and buffalo meat imports into Australia and New Zealand in volume terms, together accounting for 1.7% of total import volume.

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

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

Imports in value, M $ US

Beef and buffalo meat imports into Australia and New Zealand have increased for the third year in a row. In 2021, imports were valued at 81 M $ US, a sharp rise of 31.4% compared to the previous year. From 2018 to 2021, import value grew by 82.4%, with an average annual increase of 22.2%.

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

Between 2018 and 2021, Japan and the United States were the primary sources in the geographical structure of beef and buffalo meat imports into Australia and New Zealand in value terms, together making up 6.7% of total import value.

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

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