Growth opportunities in Southeast Asia for Australian beef

With a large population base and increasing wealth, Southeast Asia will continue to experience growth in beef consumption, at a rate of 2% to 3% per annum over the next five years, according to RaboResearch estimates. Imports will supply most of this growth.

Retail grocery and foodservice sales are returning to pre-Covid levels, with growth rates similar to those seen before the pandemic. This presents an opportunity for Australian beef to position itself as a high-quality and value-focussed supplier for Southeast Asian consumers through foodservice and grocery channels.

Geographic proximity, trade agreements, and product offering give Australia a strong advantage in supplying the countries in the region. RaboResearch believes that, by leveraging this advantage, further developing relationships and business partnerships, and working to meet the product needs of Southeast Asian consumers, Australia can capture future growth opportunities.