A snapshot of the market

Australia is consistently one of the top beef, sheepmeat and goatmeat exporters globally with fierce competition in the international marketplace being nothing new, but it is intensifying. The growing competition highlights Australia’s need to be even more focused and targeted in key destinations and underlying this will be expanding knowledge of these markets and insights on its consumers.

MLA’s recently released market snapshots give producers access to in-depth insights into what is driving demand for red meat and Australian’s high quality product in global markets and domestically.

MLA’s Market Intelligence Manager, Scott Tolmie, said Australia supplies red meat to over 100 countries and with trade heavily influenced by changing consumer demand in those markets, it was important the red meat industry had access to detailed insights.

“The snapshots are designed to provide the red meat industry a better understanding of the markets where the product is going to inform everyone throughout the supply chain” Mr Tolmie said.

“Knowing the consumer and operating environment in key markets is critical to ensure the right product is being sent to the right market.

The snapshots cover eight key markets for beef and sheepmeat, including Australia, North America, Japan, Korea, Greater China, South-East Asia, the European Union and Middle East and North Africa (MENA) region. The goatmeat industry is covered by a global snapshot, which was released in March this year.

Each market snapshot provides a brief, easy-to-read and up-to-date summary of the:

• key consumer insights and future trends
• growth areas across both the foodservice and retail segments
• competitive context and market access
• performance of Australian exports for latest financial year

Among the insights contained in the beef snapshots is the growing demand in China for beef, with Australian exports to the market increasing almost 60-fold over the past decade.

“Demand for premium imported beef is forecast to grow strongly, fuelled by a significant increase in the number of wealthy households,” Mr Tolmie said.

“These affluent consumers are demanding higher quality branded beef products that offer higher safety, more consistent quality, more nutritional value and better taste.

“Opportunities also exist for Australian red meat to enhance its profile in the US, on the back of growing demand from consumers for products that are more natural, healthy and better for the environment and the welfare of animals.

Sheepmeat has continued to see growing demand across a number of Australia’s key markets, including the US and China, but also in smaller markets, such as Korea. Mr Tolmie said lamb consumption at foodservice has underpinned the rapid growth of Australian exports to Korea in recent years, with the growing popularity of lamb bbq/skewer and Japanese Ghengis Khan-style restaurants.

In the Middle East and North Africa (MENA) premium lamb consumption and import demand in MENA are forecast to continue to grow, driven by increasing disposable incomes, ongoing urbanisation and westernisation and large wealthy expat populations.

You can access MLA’s market snapshots here.