Beef and buffalo meat market in Southern Asia

Earlier Report Observations

The beef and buffalo meat market in Southern Asia, primarily India, saw its volume grow to 7.3 million tons in 2019, supported by significant buffalo meat exports and government policies aimed at doubling farmers' income, which encouraged livestock investment. This trend was interrupted in 2020 when COVID-19 lockdowns disrupted supply chains and reduced export activity, causing the market to contract to 6.8 million tons.

Post-pandemic recovery lifted the market to 7.5 million tons by 2022, fueled by a rising buffalo population, an increase in slaughter and meat processing facilities, and a consumer shift toward convenient processed products. Volume stabilized at this level in 2023 as higher production was absorbed by growing exports, which rebounded due to competitive pricing and improved cold-chain logistics. The market value peaked at $33.5 billion in 2022 before declining to $29.7 billion in 2023, partly reflecting lower retail prices for affordable buffalo meat.

Production beef and buffalo meat in Southern Asia

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

Following two years of growth, beef and buffalo meat production in Southern Asia experienced a decline. In 2020, the region produced 6 835 K t of beef and buffalo meat, representing a year-over-year decrease of 4.8%. Over the 2017-2020 period, production fell by 3.6%, with a compound annual growth rate of 1.2%. The highest production level was recorded in 2019 at 7 180 K t, which also saw the largest annual increase of 0.8%.

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

In value, 2017-2020, M $ US

After two consecutive years of expansion, the value of beef and buffalo meat production in Southern Asia contracted. In 2020, production was valued at 24 731 M $ US, showing a controlled decline of 8.5% compared to the previous year. Between 2017 and 2020, production value decreased by 4.2%, with a compound annual growth rate of 1.4%. The peak value occurred in 2019 at 27 042 M $ US, which also registered the strongest annual growth at 3.1%.

Annual dynamics of production in Southern Asia in value, 2017-2020, M $ US

Exports beef and buffalo meat from Southern Asia

Exports in kind, K t

Southern Asia's beef and buffalo meat exports continued to grow for the third straight year. In 2020, the region exported 67.8 K t of beef and buffalo meat, marking a robust 10.8% increase from 2019. Over the 2017-2020 period, exports surged by 45.8%, translating to a compound annual growth rate of 13.4%.

Annual dynamics of product's exports from Southern Asia in kind, 2017-2020, K t

From 2017 to 2020, the United Arab Emirates (41.7% of exports in kind), Kuwait (14.7%), and Saudi Arabia (14.2%) were the leading destinations for Southern Asia's beef and buffalo meat exports in volume terms. Together, these three markets accounted for 70.6% of total export flows.

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

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

Exports in value, M $ US

The value of beef and buffalo meat exports from Southern Asia rose for the third consecutive year. In 2020, exports reached 245.4 M $ US, up 6.5% from 2019. Between 2017 and 2020, export value increased by 44.9%, equivalent to an annualized growth rate of 13.2%.

Annual dynamics of product's exports from Southern Asia in value, 2017-2020, M $ US

During 2017-2020, the United Arab Emirates (43.2% of exports in value terms), Kuwait (16.0%), and Saudi Arabia (15.1%) emerged as the primary markets for Southern Asia's beef and buffalo meat exports by value. Collectively, these three countries represented 74.3% of total export value.

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

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

Imports beef and buffalo meat to Southern Asia

Imports in kind, K t

Import volumes showed significant volatility during this period. In 2019, imports peaked at 156.2 K t, then dropped sharply to 44.0 K t in 2020—a dramatic 71.9% year-over-year decrease. This represents a 3.6-fold difference between the two years. The largest annual increase occurred in 2019 at 26.6%.

Annual dynamics of product's imports to Southern Asia in kind, 2017-2020, K t

Between 2017 and 2020, three key suppliers—Brazil, the United Arab Emirates, and Turkey—collectively accounted for 82.0% of Southern Asia's beef and buffalo meat imports in volume terms.

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

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

Imports in value, M $ US

Import values displayed an unstable pattern throughout the timeframe. The peak occurred in 2019 at 663.1 M $ US, followed by a trough in 2020 at 200.1 M $ US—a decline of 69.8% year-over-year. This represents a 3.3-fold amplitude between the two years. The strongest annual growth was recorded in 2019 at 21.5%.

Annual dynamics of product's imports to Southern Asia in value, 2017-2020, M $ US

From 2017 to 2020, Brazil (55.0% of imports in value terms), the United Arab Emirates (19.9%), and Turkey (7.7%) were the main sources of beef and buffalo meat imports to Southern Asia by value. Together, these three countries represented 82.7% of total import value.

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

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