Tanned or Dressed Furskins Market

The global tanned or dressed furskins market is projected to experience growth in both consumption and value terms from 2022 to 2030. Spain and Italy dominate in consumption and production, while China and Thailand are key players in exports. Prices vary significantly by country, with China having the highest import price and Cambodia the highest export price.

Market Forecast

Driven by increasing demand for tanned or dressed furskins worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +2.9% for the period from 2022 to 2030, which is projected to bring the market volume to 211M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +8.2% for the period from 2022 to 2030, which is projected to bring the market value to $5.6B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Tanned or Dressed Furskins

In 2022, global tanned or dressed furskins consumption shrank modestly to 168M units, declining by -3.4% on 2021. In general, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak volume of 188M units. From 2020 to 2022, the growth of the global consumption remained at a somewhat lower figure.

The global tanned or dressed furskins market value reduced to $3B in 2022, with a decrease of -9.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption recorded a noticeable curtailment. Global consumption peaked at $5B in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Consumption By Country

Spain (94M units) remains the largest tanned or dressed furskins consuming country worldwide, accounting for 56% of total volume. Moreover, tanned or dressed furskins consumption in Spain exceeded the figures recorded by the second-largest consumer, Italy (33M units), threefold. The third position in this ranking was taken by Argentina (5.5M units), with a 3.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in Spain was relatively modest. The remaining consuming countries recorded the following average annual rates of consumption growth: Italy (+1.2% per year) and Argentina (+29.5% per year).

In value terms, Italy ($1.7B) led the market, alone. The second position in the ranking was taken by New Zealand ($76M). It was followed by Argentina.

From 2012 to 2022, the average annual rate of growth in terms of value in Italy amounted to +2.0%. In the other countries, the average annual rates were as follows: New Zealand (+7.1% per year) and Argentina (+31.3% per year).

In 2022, the highest levels of tanned or dressed furskins per capita consumption was registered in Spain (1,983 units per 1000 persons), followed by New Zealand (620 units per 1000 persons), Italy (551 units per 1000 persons) and Argentina (120 units per 1000 persons), while the world average per capita consumption of tanned or dressed furskins was estimated at 21 units per 1000 persons.

In Spain, tanned or dressed furskins per capita consumption remained relatively stable over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: New Zealand (+4.7% per year) and Italy (+1.3% per year).

Production

World Production of Tanned or Dressed Furskins

Global tanned or dressed furskins production contracted modestly to 180M units in 2022, which is down by -2.1% against the previous year. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 14% against the previous year. Global production peaked at 196M units in 2019; however, from 2020 to 2022, production remained at a lower figure.

In value terms, tanned or dressed furskins production dropped to $3.3B in 2022 estimated in export price. Overall, production, however, posted mild growth. The most prominent rate of growth was recorded in 2017 with an increase of 40% against the previous year. Global production peaked at $6.6B in 2019; however, from 2020 to 2022, production failed to regain momentum.

Production By Country

Spain (97M units) constituted the country with the largest volume of tanned or dressed furskins production, accounting for 54% of total volume. Moreover, tanned or dressed furskins production in Spain exceeded the figures recorded by the second-largest producer, Italy (32M units), threefold. The third position in this ranking was held by Portugal (6.7M units), with a 3.8% share.

In Spain, tanned or dressed furskins production remained relatively stable over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Italy (+0.9% per year) and Portugal (+6.8% per year).

Imports

World Imports of Tanned or Dressed Furskins

In 2022, approx. 30M units of tanned or dressed furskins were imported worldwide; which is down by -21.8% against the previous year's figure. Overall, imports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2021 with an increase of 24% against the previous year. Global imports peaked at 61M units in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, tanned or dressed furskins imports reduced sharply to $800M in 2022. In general, imports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2021 with an increase of 80% against the previous year. Over the period under review, global imports attained the peak figure at $3.1B in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports By Country

China (4.7M units) and Germany (4M units) represented roughly 29% of total imports in 2022. Italy (1.8M units) took the next position in the ranking, followed by Vietnam (1.8M units), Spain (1.7M units) and Russia (1.6M units). All these countries together took approx. 23% share of total imports. Thailand (1.3M units), the Netherlands (1.1M units), Sweden (1.1M units), the UK (1.1M units), the United States (0.9M units), South Korea (0.8M units) and Turkey (0.7M units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +29.6%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, China ($347M) constitutes the largest market for imported tanned or dressed furskins worldwide, comprising 43% of global imports. The second position in the ranking was held by Italy ($52M), with a 6.5% share of global imports. It was followed by Germany, with a 5.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled +5.3%. The remaining importing countries recorded the following average annual rates of imports growth: Italy (-10.2% per year) and Germany (-5.8% per year).

Import Prices By Country

The average tanned or dressed furskins import price stood at $27 per unit in 2022, waning by -26.9% against the previous year. Overall, the import price recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2021 when the average import price increased by 46% against the previous year. Global import price peaked at $51 per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($74 per unit), while Spain ($4.8 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+15.0%), while the other global leaders experienced mixed trends in the import price figures.

Exports

World Exports of Tanned or Dressed Furskins

In 2022, the amount of tanned or dressed furskins exported worldwide shrank to 41M units, falling by -13.1% on the year before. In general, exports recorded a pronounced setback. The pace of growth was the most pronounced in 2021 with an increase of 23%. Over the period under review, the global exports hit record highs at 69M units in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, tanned or dressed furskins exports shrank to $824M in 2022. Over the period under review, exports recorded a deep contraction. The most prominent rate of growth was recorded in 2021 with an increase of 55% against the previous year. Over the period under review, the global exports attained the maximum at $2.8B in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports By Country

China (9.4M units) and Portugal (6.9M units) represented the key exporters of tanned or dressed furskins in 2022, finishing at approx. 23% and 17% of total exports, respectively. Spain (4.6M units) held the next position in the ranking, followed by Brazil (3.3M units) and Turkey (2.5M units). All these countries together held near 25% share of total exports. Cambodia (1.8M units), Germany (1.8M units), France (1.4M units), Thailand (1.4M units), Poland (1.2M units), Italy (1.1M units) and Colombia (0.9M units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Cambodia (with a CAGR of +43.6%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, Cambodia ($162M), China ($124M) and Thailand ($116M) appeared to be the countries with the highest levels of exports in 2022, together accounting for 49% of global exports.

In terms of the main exporting countries, Thailand, with a CAGR of +82.2%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average tanned or dressed furskins export price amounted to $20 per unit, almost unchanged from the previous year. In general, the export price recorded a pronounced descent. The most prominent rate of growth was recorded in 2021 an increase of 26%. The global export price peaked at $40 per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Cambodia ($89 per unit), while Portugal ($1.3 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+39.4%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform