Sheep and goat meat market in Caribbean

Earlier Report Observations

The market volume for sheep and goat meat in the Caribbean expanded from 57 686 tons in 2018 to a peak of 75 624 tons in 2021, reflecting strong growth over the period. This was followed by a correction to 67 641 tons in 2022 and a slight decrease to 66 383 tons in 2023, marking a stabilization phase.

In 2024, the sector saw developments aimed at strengthening supply, including the expansion of breeding programs in several countries, which added an estimated 8 million animals to national herds. Enhancements in cold chain infrastructure and growing consumer preference for fresh chilled goat meat further supported the chilled and frozen meat segments, improving market access and product quality.

Production sheep and goat meat in Caribbean

In kind, 2017-2020, t

Top producers of sheep and goat meat, 2017-2020

World map of production of sheep and goat meat, 2017-2020

Caribbean sheep and goat meat production has grown for the third year in a row. In 2020, the region produced 61 478 tons, marking a modest 3.5% increase compared to the previous year. Looking at the 2017-2020 period, production expanded by 26.1%, which translates to an average annual growth rate of 8.0%.

Annual dynamics of production in Caribbean in kind, 2017-2020, t

In value, 2017-2020, M $ US

Caribbean sheep and goat meat production value has risen for the second consecutive year. In 2020, output was valued at 412.6 million US dollars, representing a significant 14.0% year-over-year increase. Over the 2017-2020 timeframe, production value grew by 14.5%, with a compound annual growth rate of 4.6%. The lowest value occurred in 2018 at 265.5 million US dollars, which saw the steepest decline of 26.3%. In contrast, 2019 recorded the largest increase at 36.3%.

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

Exports sheep and goat meat from Caribbean

Exports in kind, t

Export data shows irregular fluctuations, pointing to a volatile market environment. From a peak in 2018 to a low in 2020, exports varied by a factor of 5.7. In 2020, Caribbean sheep and goat meat exports totaled 11 tons, a sharp 74.5% drop from 2019. The highest volume was recorded in 2018 at 63 tons, which also saw the largest increase of 247.7%.

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

Between 2017 and 2020, Bunkers (15.4% of export volume), the United States (9.5%), and Bahrain (2.5%) were among the largest buyers of Caribbean sheep and goat meat. However, together they accounted for just 27.4% of total export volume, indicating a broadly diversified partner base.

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

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

Exports in value, K $ US

The market exhibited volatility during the observed period, with a peak in 2018 and a trough in 2020, showing a 4.6-fold difference. In 2020, Caribbean exported 74 thousand US dollars worth of sheep and goat meat, equivalent to a 71.9% year-over-year decline. The maximum value was recorded in 2018 at 339 thousand US dollars, which also saw the largest increase of 154.9%.

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

From 2017 to 2020, Caribbean's sheep and goat meat export buyers were diverse. Bunkers (22.1% of export value), the United States (5.8%), and Bahrain (4.2%) together contributed only 32.1% of total export value, while numerous other countries held smaller but notable shares.

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

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

Imports sheep and goat meat to Caribbean

Imports in kind, t

In 2020, Caribbean imported 7 665 tons of sheep and goat meat, showing a substantial 14.7% decrease from the previous year. Over the 2017-2020 period, imports fell by 21.5%, with a compound annual decline rate of 7.7%. The largest increase occurred in 2019 at 2.4%.

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

Between 2017 and 2020, Australia (47.8% of import volume), New Zealand (26.0%), and the United States (16.6%) together accounted for 90.3% of total import volume, remaining the primary sources for sheep and goat meat to the Caribbean.

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

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

Imports in value, K $ US

In 2020, Caribbean's imported sheep and goat meat was valued at 46 594 thousand US dollars, constituting a 19.0% fall compared to the previous year. From 2017 to 2020, imports decreased by 17.1%, equating to an annualized decline of 6.1%. The highest value was recorded in 2019 at 57 519 thousand US dollars, which also saw the largest increase of 10.3%.

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

During 2017-2020, Australia (47.0% of import value), New Zealand (26.0%), and the United States (17.6%) were the principal sources for Caribbean sheep and goat meat imports, jointly accounting for 90.6% of total import value.

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

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