PRODUCT CLASSIFICATION
Sheep and Goats are small ruminant animals known for their adaptability, low maintenance and multifunctional use. They are vital to agricultural economies worldwide for their meat, milk, wool and leather, especially in rural and semi-arid regions.
Their products are appreciated for their health benefits, sustainability and cultural relevance, and the market goes from traditional farming to modern agribusiness, with growing interest in organic, grass fed and ethically sourced livestock products.
Sheep and Goats are a part of Live animals, a category of the Animal Products section that includes a wide variety of related by-products like Live Sheep and Live Goats.
They also have a Product Complexity Index of -1.63, ranking 977th out of 1044 products in 2023.
This post will not consider a specific country’s market, but it will be focused on the Sheep and Goats trade in general.
OVERVIEW
In 2023, global trade of Sheep and Goats reached an amount of $2.91B, reflecting an increased percentage of 33.1 from 2022, when it totaled $2.18B and, over the past five years, it has grown at an annualized rate of 6.96%.
In addition, during the same year, Sheep and Goats ranked 676 out of 1217 products, accounting for 0.013% of world trade.
EXPORT
In 2023 it was estimated that the main characters in the exportation scenario of Sheep and Goats were
- Sudan - $693M;
- Somalia - $377M;
- Iran - $337M.
Also, during the same year, the countries that registered the highest share of this category in their export portfolios were
- Somalia - 36.6%;
- Sudan - 13.6%;
- Iran - 2.54%.
IMPORT
In 2023 it was revealed that the leading importers of the Sheep and Goats category in global trade were
- Saudi Arabia - $1.17B;
- Oman - $345M;
- Kuwait - $283M.
CONCLUSIONS
In 2023 the Sheep and Goats trade continued to grow steadily, driven by the demand for protein-rich diets, ethnic cuisines and sustainable farming practices.
Despite challenges like climate impact and feed costs, this kind of market is still resilient and innovative, with expanding international trade and consumer interest that aim to build a strong, future expansion.
Source: https://oec.world/en
