Sheepmeat production at the farm gate in South Africa experienced several fluctuations over the years. Actual data indicates a peak in 2018 at $940.26 million, followed by a decline in 2019 to $759.58 million. As of 2023, the value stood at $904.97 million. The year-on-year variations reveal negative trends in the years 2019 (-19.22%) and 2016 (-9.52%) while showcasing significant positive growth between 2017 and 2018 (30.92%). The last two years, 2022 and 2023, saw stable growth with year-on-year increases of 2.1% and 2.04% respectively, reflecting stabilization in the market.
With a CAGR of -0.76% over the past five years, the sheepmeat production market indicates a slight decline. However, forecasts suggest an optimistic outlook with an average annual growth rate of 1.47% projected to reach $992.75 million by 2028.
Future trends to watch for include:
- Technological advancements in farming practices.
- Changes in consumer demand and meat consumption patterns.
- Potential impacts of climate change on sheep farming productivity.
