The Welsh red meat sector represented 43% of the total value of the country's agricultural output during 2021, new figures show.
There were more than three times the number of sheep as people in Wales last year, contributing an estimated £744m to Welsh red meat production.
Wales' 9.5 million sheep and lambs and 1.1 million cattle produced 48,700 tonnes of sheep meat and 40,300 tonnes of beef, the figures show.
Meanwhile, consumer spend on lamb at retail level in Wales was up 4 percent year-on-year.
The figures are included in 'The Little Book of Meat Facts', which has been published today by Hybu Cig Cymru – Meat Promotion Wales’ (HCC).
The pocket-sized compendium is full of facts, figures and trends for the lamb, beef and pork industries.
It covers the size of agricultural holdings and market trends, to trade data and consumer habits during 2021.
Last year was another extraordinary year, with residual Brexit and pandemic impacts affecting the year’s activity.
HCC’s intelligence insight executive, Glesni Phillips said that despite all the disruptions during 2021, the industry remained "central to the economy in Wales".
"Large numbers are employed in the sector and it remains the backbone of our rural communities," she added.
“Without doubt, the industry will be facing fresh, and perhaps serious, challenges in the new year.
"But we can be confident that Wales will continue to be recognised on the world map for quality, sustainable and reputable red meat production.”
The Little Book of Meat Facts is available to download for free on HCC's website.