Australia strengthens its position in the global red meat market

Cost of living concerns due to rising inflation in a number of markets, particularly Australia, have shifted the focus to "better value" products for shoppers, retailers and food service operators. Australian red MEAT is well positioned to continue to meet this demand due to its quality, taste and uniquely wide range of products, as well as current lower prices.

Sustainable red meat: Particularly common in Australian, European and US markets , there is a growing desire for "responsible" red meat. Consumers are increasingly looking for products that make claims about environmental sustainability and high standards of animal welfare.

Mainland China:

Mainland CHINA has been Australia's largest red meat EXPORT market by volume for several years, despite ongoing market access challenges.

Long-term import demand drivers are strong as China's affluent consumer base continues to expand and there is growing acceptance of high-quality red meat products, not just for dining out on special occasions, but increasingly for everyday use at home.

United States (usa):

The US has the largest group of affluent consumers in the world, and products that emphasize HEALTH , sustainability or animal welfare are gaining traction.

With Australia being a major market for Australian grass-fed beef and lamb, there are ongoing opportunities for Australia in the US, particularly for premium products. However, continued communication of our strong value proposition remains critical to maintaining and strengthening Australia's position in this market.

Japan:

Japan remains one of the most important export markets for Australian beef and a critical trading partner for the Australian red meat industry. Australian red meat has long established its place in the market and is considered very well suited to a variety of Western and Japanese style everyday dishes.

Korea:

Korea is a major market for Australian beef (particularly grain-fed) and one of the fastest growing lamb markets in recent years. Korea's e-commerce channel is one of the largest in the world and is a key way to purchase Australian red meat.

Developing markets:

A high share of global growth in red meat consumption and imports is driven by a young and increasingly affluent consumer base in emerging regional markets such as the Middle East (Middle East and North Africa or MENA) and Southeast Asia.

In the Middle East and North Africa, packaged meat products purchased in modern retail are growing in popularity. Although the United Arab Emirates (UAE) and Saudi Arabia remain the largest markets, exports to a number of countries in the region are growing in both volume and value. MENA markets have been among Australia's fastest growing markets for chilled grain-fed beef exports.

In Southeast Asia, Indonesia is the largest export market for red meat and livestock from Australia. The country has the largest middle class in the region thanks to its large population and rising incomes. Vietnamese people already use beef quite frequently in local dishes by regional standards, and as disposable incomes increase, they are spending more on premium and imported red meat products.

UK: Trade deal boosts demand

Australia's red meat exports to the UK have increased markedly in just a few months since the Australia-UK Free Trade Agreement (A-UK FTA) came into force at the end of May 2023. Australian red meat is firmly established in the foodservice industry. Discussions on a trade agreement between Australia and the European Union are ongoing and Australia is determined to ensure that any agreement reached will result in significantly increased access to this market for Australian red meat.