Key regions: United Kingdom, Germany, United States, Spain, Italy
The demand for Other Livestock Products in Australia has been increasing over the years, making it a significant contributor to the country's agricultural industry.
Customer preferences: The Australian population has been increasingly conscious of their health, leading to a shift in their dietary habits. Consumers are now opting for leaner meats and alternative protein sources, such as lamb, goat, and rabbit, which are considered healthier than beef and pork. Additionally, the increasing multicultural population in Australia has led to a growing demand for ethnic meats, such as goat and rabbit, which are commonly consumed in Asian and African cuisines.
Trends in the market: The Other Livestock Products market in Australia has been growing due to the increasing demand for alternative protein sources. The demand for goat meat has been increasing, with the country's goat population doubling in the last decade. The rabbit meat market has also been growing, with the country's rabbit population increasing by 50% in the last five years. The lamb market has remained stable, with a consistent demand for lamb meat in the country. However, the production of lamb meat has been decreasing due to the ongoing drought in the country.
Local special circumstances: Australia's unique climate and geography have made it an ideal location for livestock farming. The country's vast land area and diverse climate allow for the production of various livestock products. Additionally, the country's strict animal welfare standards and food safety regulations have made Australian livestock products highly valued in the global market.
Underlying macroeconomic factors: Australia's growing population and increasing multiculturalism have contributed to the growing demand for Other Livestock Products. Additionally, the country's strong economy and high disposable income have allowed consumers to prioritize health and wellness in their dietary habits. The ongoing drought in the country has led to a decrease in the production of some livestock products, such as lamb, but has not significantly impacted the overall growth of the Other Livestock Products market.
Data coverage:
The data encompasses B2B. Figures are based on the value of gross production in the agriculture market, which values of production are calculated by multiplying gross production by output prices at the farm gate.Modeling approach:
Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use resources from the Statista platform as well as annual financial reports of the market-leading companies and industry associations, third-party studies and reports, national statistical offices, international institutions, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting agriculture products due to the non-linear growth of this market, especially because of the direct impact of climate change on the market.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.
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