Beef and buffalo meat market in Peru

Earlier Report Observations

The Peruvian beef and buffalo meat market expanded in 2019, supported by significant imports originating largely from Argentina, Brazil, and the United States, though domestic production was inherently limited by the country's lack of extensive pastures. A contraction followed in 2020 as the livestock sector faced challenges related to animal health and international market access, compounded by adverse micro- and macroeconomic factors that likely included the effects of the COVID-19 pandemic.

Market volume recovered through 2021 and 2022. During this period, the government approved updated Peruvian Technical Standards for meat and meat products, which introduced new quality and labeling requirements, while modifications to solid waste management regulations added environmental compliance considerations. A more pronounced growth phase began in 2023, driven by the entry of new food brands focusing on value-added products and, most notably, a rising consumer and producer shift toward buffalo meat, valued for its leanness, tenderness, and nutritional benefits, which stimulated both consumption and production.

By 2024, domestic production continued its upward trajectory, reaching 202 thousand tons, with industry focus on improving animal health, traceability, and certifications to potentially substitute imports and access international markets. The market's distribution remained dominated by traditional wet markets, which accounted for 88% of beef sales.

Production beef and buffalo meat in Peru

In kind, 2017-2020, K t

Top producers of beef and buffalo meat, 2017-2020

World map of production of beef and buffalo meat, 2017-2020

Peru's beef and buffalo meat production saw two years of growth before declining. In 2020, production reached 183.9 K t, marking a 4.7% decrease from 2019. Over the 2017-2020 period, overall production fell by 2.5%, with a compound annual growth rate of 0.9%. The highest production level was recorded in 2019 at 192.9 K t, which also saw the largest annual increase of 1.7%.

Annual dynamics of production in Peru in kind, 2017-2020, K t

Exports beef and buffalo meat from Peru

Exports in kind, t

The export market showed significant volatility during this period. From 2018 to 2019, export volumes varied dramatically, with a 9.3-fold difference between the peak and trough. In 2020, Peru exported 9 t of beef and buffalo meat, representing a sharp 70.4% decline from 2019. The lowest export volume was recorded in 2018 at just 3 t, while the highest was in 2019 at 31 t. The most substantial increase occurred in 2019, with exports surging by 826.3%.

Annual dynamics of product's exports from Peru in kind, 2017-2020, t

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Peru in kind, 2017-2020

Exports in value, K $ US

Export values followed an unstable pattern throughout the timeframe. Between 2018 and 2019, export values fluctuated significantly, with an 8.8-fold difference between the high and low points. In 2020, beef and buffalo meat exports from Peru totaled 29 K $ US, dropping by 83.2% compared to the previous year. The minimum value was recorded in 2018 at 20 K $ US, while the maximum reached 175 K $ US in 2019. The largest percentage increase occurred in 2019, with values jumping by 775.9%.

Annual dynamics of product's exports from Peru in value, 2017-2020, K $ US

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Peru in value, 2017-2020

Imports beef and buffalo meat to Peru

Imports in kind, t

Peru's beef and buffalo meat imports continued to rise for the third consecutive year. In 2020, imports reached 7 114 t, showing a substantial 27.8% year-over-year increase. Over the 2017-2020 period, import volumes grew by 113.1%, translating to a compound annual growth rate of 28.7%.

Annual dynamics of product's imports to Peru in kind, 2017-2020, t

Between 2017 and 2020, Brazil, the United States, and Bolivia dominated Peru's beef and buffalo meat imports by volume. Brazil accounted for 42.3% of imports, followed by the United States at 20.6%, and Bolivia at 19.0%. Together, these three countries represented 81.9% of total import volumes, making them the primary sources for Peru.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Peru in kind, 2017-2020

Imports in value, K $ US

The value of beef and buffalo meat imports to Peru increased for the third year in a row. In 2020, imports totaled 38 985 K $ US, reflecting a 15.1% rise compared to 2019. From 2017 to 2020, import values grew by 65.1%, equivalent to an annualized growth rate of 18.2%.

Annual dynamics of product's imports to Peru in value, 2017-2020, K $ US

From 2017 to 2020, the United States, Brazil, and Bolivia led Peru's beef and buffalo meat imports by value. The United States accounted for 35.9% of import value, Brazil for 29.3%, and Bolivia for 15.8%. Collectively, these three countries represented 80.9% of total import value during this period.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Peru in value, 2017-2020