Sheep and goat meat market in Latin America and the Caribbean

Earlier Report Observations

The sheep and goat meat market in Latin America and the Caribbean grew from 886 thousand tons in 2018 to 944 thousand tons in 2023. Early in the period, regional supply was affected by significant flock losses in Argentina due to heavy snowfall and deliberate herd retention in Mexico and Uruguay for rebuilding in 2018. Nonetheless, overall consumption increased, reaching 936 thousand tons in 2020 before a minor contraction the following year.

Market volume resumed its upward trajectory in 2022 and 2023, supported by a $223 million loan from the USDA to small and medium-sized meat processors in the region, which enhanced production capacity. This period also saw a shift in consumer preferences towards fresh, processed meat products valued for their nutritional content, including sheep and goat meat. Further expansion was driven by ongoing urbanization, higher disposable incomes, and the growing role of supermarket and hypermarket distribution channels.

Production sheep and goat meat in Latin America and the Caribbean

In kind, 2017-2020, K t

Top producers of sheep and goat meat, 2017-2020

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

Sheep and goat meat production in Latin America and the Caribbean has grown for the third year in a row. In 2020, the region produced 946.2 thousand tons, marking a 2.2% increase from the previous year. Looking at the period from 2017 to 2020, production rose by 10.7%, which translates to an average annual growth rate of 3.4%.

Annual dynamics of production in Latin America and the Caribbean in kind, 2017-2020, K t

In value, 2017-2020, M $ US

The value of sheep and goat meat production in Latin America and the Caribbean has fallen for the second consecutive year. In 2020, output was valued at 5 881 million US dollars, representing a significant 17.3% decline compared to 2019. Between 2017 and 2020, production value dropped by 20.7%, averaging a 7.4% decrease per year. The peak value was recorded in 2018 at 8 234 million US dollars, which also saw the largest annual increase of 11.1%.

Annual dynamics of production in Latin America and the Caribbean in value, 2017-2020, M $ US

Exports sheep and goat meat from Latin America and the Caribbean

Exports in kind, t

Sheep and goat meat exports from Latin America and the Caribbean have increased for the second year in a row. In 2020, exports reached 22 181 tons, showing a substantial 20.0% rise from the previous year. From 2017 to 2020, exports grew by 22.5%, with an average annual growth rate of 7.0%. The lowest export volume was in 2018 at 13 291 tons, which experienced the largest decline of 26.6%. In contrast, 2019 saw the biggest increase of 39.1%.

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

Between 2017 and 2020, China, the United States, and the Netherlands were the key markets for sheep and goat meat exports from Latin America and the Caribbean. China accounted for 42.6% of exports in volume, the United States for 4.5%, and the Netherlands for 3.3%. Together, these three countries represented 50.3% of total export flows.

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

World map of product's exports from Latin America and the Caribbean in kind, 2017-2020

Exports in value, M $ US

Sheep and goat meat exports from Latin America and the Caribbean have risen for the third consecutive year. In 2020, export value totaled 118.3 million US dollars, indicating a 6.1% increase compared to 2019. Over the period from 2017 to 2020, exports grew by 17.9%, with an average annual growth rate of 5.7%.

Annual dynamics of product's exports from Latin America and the Caribbean in value, 2017-2020, M $ US

From 2017 to 2020, sheep and goat meat exports from Latin America and the Caribbean in value terms were not highly concentrated. China held 33.6% of export value, the United States 4.9%, and the Netherlands 4.4%. Combined, these three markets accounted for 42.9% of total export flows.

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

World map of product's exports from Latin America and the Caribbean in value, 2017-2020

Imports sheep and goat meat to Latin America and the Caribbean

Imports in kind, t

Sheep and goat meat imports into Latin America and the Caribbean have declined for the third year in a row. In 2020, the region imported 11 756 tons, down by 30.6% from 2019. Between 2017 and 2020, imports decreased by 47.8%, with an average annual decline of 19.5%.

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

Throughout 2017 to 2020, Australia, New Zealand, and the United States were the main sources of sheep and goat meat imports into Latin America and the Caribbean. Australia supplied 32.4% of imports in volume, New Zealand 20.2%, and the United States 10.4%. Together, these three countries made up 63.0% of total import flows.

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

World map of product's imports to Latin America and the Caribbean in kind, 2017-2020

Imports in value, M $ US

Sheep and goat meat imports into Latin America and the Caribbean have fallen for the third consecutive year. In 2020, imports were valued at approximately 74.8 million US dollars, a 30.3% drop from the previous year. From 2017 to 2020, import value decreased by 44.8%, with an average annual decline of 18.0%.

Annual dynamics of product's imports to Latin America and the Caribbean in value, 2017-2020, M $ US

Between 2017 and 2020, Australia, New Zealand, and the United States were the largest contributors to sheep and goat meat imports into Latin America and the Caribbean in value terms. Australia accounted for 31.8% of import value, New Zealand for 20.4%, and the United States for 10.7%. Collectively, these three countries represented 63.0% of total import flows.

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

World map of product's imports to Latin America and the Caribbean in value, 2017-2020