News
10 February, 2025
Suprising growth of the Australian Goat industry
Australia's goat meat industry has seen a dramatic surge, with exports increasing by 40 per cent in 2024, setting a new record for the sector.
Agricultural Analyst Joe Boyle highlighted that 2.9 million goats were processed last year, in the latest episode of Bendigo Bank’s Agribusiness podcast, ‘Unpacking Ag’.
According to Mr Boyle, 2024 set a record for Australian red meat exports, with goat meat up 40 percent year on year. This is a significant jump since a low in 2020, when processing slowed following dry conditions on the east coast.
Goat meat remains primarily an export product, with less than 10 percent consumed domestically. Australia now accounts for 35 percent of global goat exports, with the US as the top market, taking nearly half of Australia’s exports.
“People are often surprised to learn that the US is Australia’s major export market for goat meat, accounting for roughly half of Australia’s total exports with a 90 percent lift last year and positive pricing signals include improving economic conditions for some of our major export markets, so this will hopefully translate into an increase in spending - especially through the food service industry,” he said.
“Excluding China, export markets were really strong, recording year-on-year growth in 2024 with Australia exporting a record 51,489 tonnes of goat meat last year, up more than 50 percent year-on-year, and about 44 percent higher than the previous record set way back in 2014.”
Mr Boyle also noted that the growth is linked to a shift from cattle and sheep to goats in drier grazing areas.
Domestic consumption has doubled over the past five years, and Mr Boyle expects this trend to continue. Despite uncertainties about future production levels, the outlook for 2025 is strong, with record processing already achieved in January, with 76,000 heads.
“We expect supply pressure to stay at a heightened level for the next few months, but it remains to be seen if these production levels amount to a new normal, or if they will start to ease,” Mr Boyle said.
“The growth in production has also been attributed in part to a shift away from cattle and sheep in some of the more marginal grazing areas, with growers diversifying their operations into goats, given their hardiness and ability to perform in drier or less favourable conditions.”
