Asia: Market for Leather of Bovine and Equine Animals 2024

Market Size for Leather of Bovine and Equine Animals in Asia

The Asian bovine and equine leather market declined modestly to $X in 2023, waning by X% against the previous year. Overall, consumption, however, showed a deep contraction. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2023, consumption remained at a lower figure.

Production of Leather of Bovine and Equine Animals in Asia

In value terms, bovine and equine leather production declined to $X in 2023 estimated in export price. Over the period under review, production, however, continues to indicate a abrupt decrease. The pace of growth was the most pronounced in 2018 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2023, production stood at a somewhat lower figure.

Exports of Leather of Bovine and Equine Animals

Exports in Asia

In 2023, exports of leather of bovine and equine animals in Asia rose remarkably to X square meters, increasing by X% on the previous year. Overall, exports, however, recorded a deep downturn. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. The volume of export peaked at X square meters in 2014; however, from 2015 to 2023, the exports remained at a lower figure.

In value terms, bovine and equine leather exports reduced to $X in 2023. Over the period under review, exports, however, continue to indicate a deep reduction. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2023, the exports failed to regain momentum.

Exports by Country

In 2023, China (X square meters), Vietnam (X square meters), India (X square meters), South Korea (X square meters) and Taiwan (Chinese) (X square meters) represented the main exporter of leather of bovine and equine animals in Asia, mixing up X% of total export. Turkey (X square meters) held the next position in the ranking, followed by Hong Kong SAR (X square meters), Thailand (X square meters), Uzbekistan (X square meters) and Bangladesh (X square meters). All these countries together held approx. X% share of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by China (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest bovine and equine leather supplying countries in Asia were South Korea ($X), China ($X) and Hong Kong SAR ($X), together accounting for X% of total exports. India, Thailand, Vietnam, Turkey, Taiwan (Chinese), Bangladesh and Uzbekistan lagged somewhat behind, together comprising a further X%.

Turkey, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2023, the export price in Asia amounted to $X per square meter, which is down by X% against the previous year. Overall, the export price saw a slight slump. The most prominent rate of growth was recorded in 2013 an increase of X%. As a result, the export price reached the peak level of $X per square meter. From 2014 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per square meter), while Uzbekistan ($X per square meter) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the other leaders experienced more modest paces of growth.

Imports of Leather of Bovine and Equine Animals

Imports in Asia

In 2023, approx. X square meters of leather of bovine and equine animals were imported in Asia; with an increase of X% on 2022. In general, imports, however, showed a perceptible decrease. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports reached the maximum at X square meters in 2013; however, from 2014 to 2023, imports stood at a somewhat lower figure.

In value terms, bovine and equine leather imports fell to $X in 2023. Over the period under review, imports, however, saw a abrupt decline. The most prominent rate of growth was recorded in 2021 with an increase of X%. The level of import peaked at $X in 2014; however, from 2015 to 2023, imports failed to regain momentum.

Imports by Country

China was the major importer of leather of bovine and equine animals in Asia, with the volume of imports resulting at X square meters, which was near X% of total imports in 2023. It was distantly followed by Vietnam (X square meters), India (X square meters), Indonesia (X square meters) and Thailand (X square meters), together mixing up a X% share of total imports. The following importers - Hong Kong SAR (X square meters) and Turkey (X square meters) - each reached a X% share of total imports.

From 2012 to 2023, average annual rates of growth with regard to bovine and equine leather imports into China stood at X%. At the same time, Vietnam (X%), India (X%) and Indonesia (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2023. Thailand experienced a relatively flat trend pattern. By contrast, Turkey (X%) and Hong Kong SAR (X%) illustrated a downward trend over the same period. Vietnam (X p.p.), India (X p.p.), Indonesia (X p.p.) and Thailand (X p.p.) significantly strengthened its position in terms of the total imports, while Hong Kong SAR and China saw its share reduced by X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X), China ($X) and Indonesia ($X) were the countries with the highest levels of imports in 2023, together accounting for X% of total imports.

Vietnam, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per square meter in 2023, falling by X% against the previous year. Overall, the import price saw a pronounced decrease. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. As a result, import price attained the peak level of $X per square meter. From 2017 to 2023, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Hong Kong SAR ($X per square meter), while China ($X per square meter) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform