Global beef market insights on tap
RED meat producers now have access to in-depth insights into what is driving demand for Australian product in global markets and domestically with the release of Meat and Livestock Australia’s (MLA) new online market snapshots.
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 producers had access to detailed insights.
“The snapshots are designed to enable producers to be more informed when having discussions with their supply chain partners and – armed with a better understanding of where their product is going – make more informed business decisions about their own production and on-farm investments,” 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 aim to not only provide information around what is driving export volumes and values, but a more forward looking analysis of what are the consumer and industry trends that will influence Australia’s future red meat exports into each market.
“We have designed each snapshot with a brief summary for time poor readers on the opening page that lists in bullet point form all the key challenges and opportunities for Australian red meat, and a more in-depth analysis following each summary for those wanting more detail.”
The snapshots cover 11 key markets for beef and eight key markets for sheepmeat, including Australia, the United States, Japan, Korea, China, Taiwan, Hong Kong, South-East Asia, Indonesia, the European Union, and Middle East and North Africa (MENA) region.
The goatmeat industry is covered by a global snapshot, which will be released in March.
Each market snapshot provides a brief, easy-to-read and up-to-date summary of the:
Among the insights contained in the beef snapshots is the growing demand in Japan for steak, and the increasing demand in the United States for grassfeed beef.
“Australia’s strong presence in supermarkets and a wide range of foodservice outlets in Japan has it well positioned to take advantage of key consumer trends, such as increasing interest in akami, which is a lean meat, and steaks,” Mr Tolmie said.
“In the United States, grassfed beef is a key growth area in both retail and foodservice. Its growing profile in the US has been on the back of strong demand by consumers who perceive it as better for the environment and the welfare of animals, along with it being more natural.”
Looking at sheepmeat, Mr Tolmie said 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.
“Although the retail sector remains under-developed and fragmented, development in the sector is expected to increase, and with it, potential growth in chilled lamb sales,” Mr Tolmie said.