Republic of Korea: Sheepskin And Lambskin Market 2024

Sheepskin And Lambskin Market Size in Republic of Korea

In 2022, after two years of growth, there was decline in the South Korean sheepskin and lambskin market, when its value decreased by X% to $X. Overall, consumption, however, showed a dramatic slump. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Sheepskin And Lambskin Production in Republic of Korea

In value terms, sheepskin and lambskin production contracted to $X in 2022 estimated in export price. In general, production, however, showed a drastic downturn. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Sheepskin and lambskin production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

In 2022, the average sheepskin and lambskin yield in South Korea totaled X kg per head, approximately mirroring the year before. Over the period under review, the yield continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. As a result, the yield attained the peak level of X kg per head. From 2017 to 2022, the growth of the average sheepskin and lambskin yield failed to regain momentum.

In 2022, the number of animals slaughtered for sheepskin and lambskin production in South Korea rose significantly to X head, increasing by X% on the previous year's figure. Over the period under review, the number of producing animals, however, recorded a abrupt contraction. The growth pace was the most rapid in 2017 when the number of producing animals increased by X% against the previous year. Over the period under review, this number reached the maximum level at X head in 2015; however, from 2016 to 2022, producing animals failed to regain momentum.

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Sheepskin And Lambskin Exports

Exports from Republic of Korea

In 2022, the amount of sheep or lamb skins (without wool) exported from South Korea skyrocketed to X tons, picking up by X% against the previous year. Over the period under review, exports saw a buoyant expansion. The pace of growth appeared the most rapid in 2015 with an increase of X%. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, sheepskin and lambskin exports skyrocketed to $X in 2022. In general, exports, however, saw a mild curtailment. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Turkey (X tons) was the main destination for sheepskin and lambskin exports from South Korea, accounting for a X% share of total exports. Moreover, sheepskin and lambskin exports to Turkey exceeded the volume sent to the second major destination, Pakistan (X tons), fivefold. The third position in this ranking was taken by China (X tons), with an X% share.

From 2012 to 2022, the average annual growth rate of volume to Turkey totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (X% per year) and China (X% per year).

In value terms, China ($X) emerged as the key foreign market for sheep or lamb skins (without wool) exports from South Korea, comprising X% of total exports. The second position in the ranking was held by Turkey ($X), with a X% share of total exports. It was followed by Thailand, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (X% per year) and Thailand (X% per year).

Export Prices by Country

The average sheepskin and lambskin export price stood at $X per ton in 2022, falling by X% against the previous year. In general, the export price continues to indicate a deep contraction. The most prominent rate of growth was recorded in 2018 when the average export price increased by X%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (X%), while the prices for the other major destinations experienced more modest paces of growth.

Sheepskin And Lambskin Imports

Imports into Republic of Korea

In 2022, purchases abroad of sheep or lamb skins (without wool) increased by X% to X tons, rising for the third consecutive year after five years of decline. Over the period under review, imports, however, showed a deep slump. The growth pace was the most rapid in 2014 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, sheepskin and lambskin imports contracted modestly to $X in 2022. In general, imports, however, continue to indicate a dramatic slump. The pace of growth appeared the most rapid in 2014 when imports increased by X%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

The United States (X tons), New Zealand (X tons) and China (X tons) were the main suppliers of sheepskin and lambskin imports to South Korea, together comprising X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Tunisia ($X), New Zealand ($X) and Turkey ($X) constituted the largest sheepskin and lambskin suppliers to South Korea, with a combined X% share of total imports. China, Syrian Arab Republic, the United States, Iran and Australia lagged somewhat behind, together accounting for a further X%.

The United States, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average sheepskin and lambskin import price amounted to $X per ton, shrinking by X% against the previous year. Overall, the import price continues to indicate a abrupt setback. The growth pace was the most rapid in 2017 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Tunisia ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Tunisia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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