World - Raw Hides And Skins Of Cattle - Market Analysis, Forecast, Size, Trends and Insights
Update: COVID-19 Impact
Global Bovine Hide And Skin Market to Benefit from Increasing Demand in Asia
The growing population and its income, as well as ongoing urbanisation and improved living standards, partcularly in Asia, will generate a surge in demand for shoes, bags and other leather-type products. Therefore, the raw cattle hides market is to undergo a modest but robust growth.
According to market research conducted by IndexBox, the global market for raw cattle hides and skins earned total revenues of $X in 2016, which was $X (or X%) less than the highest level of market value achieved in 2014. This figure reflects the total revenue of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In physical terms, global market with regard to raw cattle hides and skins grew steadily over the last nine years to X tonnes in 2016.
The leather industry is a key consumer of raw cattle hides and skins. Today, the product market is not just limited to the manufacture of leather bags, shoes, and jackets, but laptop and gadget bags, as well as stylish and innovative cases are also now available on the market. Over X% of bovine hides are processed into footwear, while the remaining amounts are used for the production of garments, furniture, and travel goods.
The growing population and its income, improved living standards and ongoing urbanisation, will act as the main drivers for market growth in the medium term, given the steady growth of China's economy - China is the largest global consumer and importer of skins and hides. China's current economic policy, aimed at encouraging domestic consumption also constitutes a key factor set to impact on market expansion in the medium term. Alternatively, cheap artificial leather and the limited potential for supply growth (there is only likely to be a gradual increase in the cattle population in global terms) will feature amongst those factors most likely to curb market development. In the medium term, therefore, the current modest upwards consumption trend with regard to cattle hide is set to continue. Market performance is forecast to remain relatively stable with an anticipated CAGR of +X% for the nine-year period from 2016 to 2025. This period is expected to drive the market volume to X tonnes by the end of 2025.
China (X tonnes), Brazil (X tonnes), the U.S. (X tonnes), India (X tonnes) and Italy (X tonnes) were the leading cattle hides consumers, together comprising approx. X% of global consumption in 2016. These countries were also the leading producers of cattle hides. Moreover, the U.S. and China increased their consumption over the last nine years. The growth rates of consumption for these countries were registered at +X% per year and +X% per year, respectively.
Global market of raw cattle skins boasts high intensity of international trade: approx. X% of the global output is intended for exports. The main driver of international trade is the growth in consumption by the leather industry in Southeast Asia, where the domestic production of cattle hides does not have a sufficient resource base.
In 2016, the volume of global exports with regard to raw hides and skins totaled X tonnes, contracting by X% over the last year. In 2016, the U.S. (X tonnes) was the main global exporter of raw hides and skins, comprising X% of global exports. Australia and Germany assumed the second and third places in this ranking with an X% share each, followed by Canada, Italy, France, the Netherlands and others.
On the other hand, China (X tonnes), Italy (X tonnes), Mexico (X tonnes), South Korea (X tonnes) and Germany (X tonnes) were the main destinations for imports of cattle hides, together making up X% of total imports. From 2007 to 2016, China and Mexico had the highest rates of growth rates in terms of imports, with a CAGR of +X% and +X%, respectively. They were followed by Germany (+X% per year); Italy (-X% per year) and South Korea (-X% per year) displayed a negative dynamic over the same period. China significantly strengthened its position in terms of global imports, from X% in 2007 to X% in 2016, while Italy saw its share reduced slightly. The shares of the other countries remained relatively stable throughout the analyzed period.
Despite the fact that China remains the world's leader in terms of cattle hide output, domestic producers there are still incapable to entirely meet the domestic demand. This promotes the growth of imports, which comprised X% of the national consumption in China in 2016. Mexico is even more dependent on imported cattle skins, as almost three quarters of its total consumption was buoyed by imports in 2016. South Korea also features a high share of imports in terms of cattle skins consumption, which stood at X% in 2016. Given the reliance on the imported produce, all these countries should be considered as attractive destinations for global raw bovine skins exporters.
Do you want to know more about global bovine hide and skin market? Get the latest trends and insight from our report. It includes a wide range of statistics on
- bovine hide and skin market share
- bovine hide and skin prices
- bovine hide and skin industry
- bovine hide and skin sales
- bovine hide and skin market forecast
- bovine hide and skin price forecast
- key bovine hide and skin producers
Source: IndexBox AI Platform
This report provides an in-depth analysis of the global market for bovine hide and skin. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Importers on The Market and How They Succeed
The Largest Exporters on The Market and How They Succeed
The Largest Producers on The Market and Their Profiles
The Largest Markets And Their Profiles
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