Unpacking Ag: Surprising growth of the Australian goat industry

Highlights:

• 2024 set a record for Australian red meat exports, with goat meat up 40 per cent year on year.

• Australian production has jumped significantly since a low in 2020, when processing slowed following dry conditions on the east coast. 

• Most of Australia’s goat meat comes from rangeland harvested goats, but unlike goats’ milk or cheese, goat meat isn’t widely available in Australia with the majority exported.

• Less than 10 per cent of goat meat is consumed domestically, with Australia now accounting for about 35 per cent of global goat exports.  

Quotes to be attributed to Joe Boyle, Agricultural Analyst at Bendigo Bank:

“Australia processed 2.9 million goats in 2024, up more than 40 per cent year-on-year, a record for the industry, with improved seasonal conditions and increased processing capacity accounting for the surge.“

“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.” 

“2025 is off to a strong start for the industry. The first full operating week of the year saw a record 76,000 head processed. 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.”  

“People are often surprised to learn that the US is Australia’s major export market for goat meat, accounting for roughly half Australia’s total exports with a 90 per cent 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.”

“Excluding China, export markets were really strong, recording year-on-year growth in 2024 with Australia exporting a record 51,489 tonnes of goatmeat last year, up more than 50 per cent year-on-year, and about 44 per cent higher than the previous record set way back in 2014.”

“Notably, domestic consumption of goat meat has roughly doubled in the last five years and we expect this trend to continue,” concluded Mr Boyle.