Beef and buffalo meat market in Brazil

Earlier Report Observations

From 2018 to 2019, Brazil's beef and buffalo meat market volume remained stable at around 6.7 million tons, supported by ongoing investments in feeding, genetics, and animal health technologies that enhanced productivity and kept the country competitive globally. However, in 2020, the COVID-19 pandemic triggered a sharp rise in retail prices coupled with falling household incomes, which significantly reduced domestic consumption and pulled the market volume down to 6.1 million tons.

The downward pressure continued into 2021 as high consumer prices further constrained domestic demand, shrinking the market to 5.9 million tons. A turning point came in 2022–2023: record-breaking production, driven by strong international demand from China and the United States, led to a surge in export volumes. Simultaneously, the domestic market absorbed more of the supply, aided by some price adjustments, which helped lift the market volume to 7 million tons by 2023.

During this period, the buffalo meat segment emerged as a notable growth area, with the herd expanding and major companies entering the market. New product launches, such as buffalo milk powder, and targeted quality programs diversified Brazil's meat industry, reflecting a broader expansion beyond traditional beef.

Production beef and buffalo meat in Brazil

In kind, 2018-2021, K t

From 2018 to 2021, Brazil held the second position globally in beef and buffalo meat production.

Top producers of beef and buffalo meat, 2018-2021

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

Brazil's beef and buffalo meat production declined for the second year in a row. In 2021, the country produced 7,456 thousand tonnes, marking a 4.7% decrease compared to the previous year. Over the 2018-2021 period, production fell by 6.7%, with an average annual decline of 2.3%. The highest output was recorded in 2019 at 8,219 thousand tonnes, which saw a 2.9% increase. The largest drop occurred in 2020, with a 4.8% decrease.

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

In value, 2018-2021, M $ US

In 2021, Brazil's beef and buffalo meat production was valued at 38,077 million US dollars, rising by 12.7% year-over-year. Between 2018 and 2021, production value grew by 18.2%, averaging a 5.7% annual increase. The only decline during this period was in 2020, with a 1.4% drop.

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

Exports beef and buffalo meat from Brazil

Exports in kind, K t

Following two years of growth, Brazil's beef and buffalo meat export volumes declined. In 2021, exports totaled 1,560 thousand tonnes, down 9.5% from 2020. Over the 2018-2021 span, exports increased by 15.3%, with an average annual growth of 4.9%. The peak was in 2020 at 1,724 thousand tonnes, while the largest rise was in 2019, with a 16.0% increase.

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

Between 2018 and 2021, China, Hong Kong, and Egypt were the top destinations for Brazil's beef and buffalo meat exports by volume. China accounted for 38.9% of exports, Hong Kong for 13.6%, and Egypt for 8.2%, together making up 60.6% of total export flows.

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

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

Exports in value, M $ US

Brazil's beef and buffalo meat export value increased for the third consecutive year. In 2021, exports reached 7,967 million US dollars, up 7.0% from the previous year. From 2018 to 2021, export value surged by 46%, with an average annual growth rate of 13.5%.

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

From 2018 to 2021, China, Hong Kong, and Chile dominated Brazil's beef and buffalo meat exports by value, collectively accounting for 62.5% of total export flows.

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

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

Imports beef and buffalo meat to Brazil

Imports in kind, K t

Brazil's beef and buffalo meat import volume rose for the second year in a row. In 2021, imports reached 45 thousand tonnes, a 27.6% increase from 2020. Over the 2018-2021 period, imports grew by 31.6%, with an average annual increase of 9.6%. The lowest volume was in 2019 at 32 thousand tonnes, which also saw the largest decline of 6.9%.

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

Between 2018 and 2021, Paraguay, Argentina, and Uruguay were the leading sources of Brazil's beef and buffalo meat imports by volume. Paraguay contributed 53.8%, Argentina 22.3%, and Uruguay 19.4%, together representing 95.5% of total import flows.

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

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

Imports in value, M $ US

After two years of decline, Brazil's beef and buffalo meat import value increased. In 2021, imports amounted to 275 million US dollars, a sharp rise of 36.3% year-over-year. From 2018 to 2021, import value grew by 19.6%, equating to an average annual rate of 6.2%. The lowest value was in 2020 at 202 million US dollars, while the largest drop was in 2019, with a 7.5% decrease.

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

From 2018 to 2021, Paraguay, Argentina, and Uruguay remained the primary suppliers of beef and buffalo meat to Brazil by value. Paraguay accounted for 41.1% of imports, Argentina for 28.7%, and Uruguay for 23.9%, jointly making up 93.8% of total import value.

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

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