Cows Skin Market

The global cows skin market is expected to see an upward consumption trend over the next eight years, with an anticipated CAGR of +1.2% for volume and +1.3% for value from 2022 to 2030. In 2022, global consumption and production declined, with key consuming and producing countries identified. Imports and exports are also analyzed, showcasing trends in prices, volumes, and key players in the market. Overall, the market is forecasted to see growth in the coming years, with key trends shaping the industry.

Market Forecast

Driven by rising demand for cows skin worldwide, the market is expected to start an upward consumption trend over the next eight-year period. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +1.2% for the period from 2022 to 2030, which is projected to bring the market volume to 13M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +1.3% for the period from 2022 to 2030, which is projected to bring the market value to $26.3B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Raw Hides And Skins Of Bovine Animals

In 2022, global cows skin consumption shrank to 11M tons, with a decrease of -8.5% against the previous year. Overall, consumption recorded a pronounced contraction. Global consumption peaked at 16M tons in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

The global cows skin market value amounted to $23.8B in 2022, increasing by 9.4% 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). In general, consumption saw a perceptible setback. Global consumption peaked at $29.4B in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (2.1M tons), the United States (1.4M tons) and India (848K tons), together comprising 38% of global consumption. Indonesia, Japan, Bangladesh, Brazil, Mexico, Ireland and Pakistan lagged somewhat behind, together comprising a further 17%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Ireland (with a CAGR of +9.8%), while consumption for the other global leaders experienced a decline in the consumption figures.

In value terms, the largest cows skin markets worldwide were India ($5.3B), the United States ($2.8B) and China ($1.7B), with a combined 41% share of the global market. Bangladesh, Indonesia, Pakistan, Japan, Brazil, Mexico and Ireland lagged somewhat behind, together comprising a further 8.6%.

Among the main consuming countries, Ireland, with a CAGR of +4.6%, recorded the highest growth rate of market size over the period under review, while market for the other global leaders experienced a decline in the market figures.

In 2022, the highest levels of cows skin per capita consumption was registered in Ireland (39 kg per person), followed by the United States (4.2 kg per person), Japan (2.7 kg per person) and Bangladesh (1.9 kg per person), while the world average per capita consumption of cows skin was estimated at 1.5 kg per person.

In Ireland, cows skin per capita consumption expanded at an average annual rate of +8.8% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: the United States (-6.1% per year) and Japan (-4.8% per year).

Production

World Production of Raw Hides And Skins Of Bovine Animals

In 2022, global cows skin production shrank to 12M tons, waning by -8.5% against 2021. Overall, production saw a perceptible decline. The pace of growth was the most pronounced in 2021 with an increase of 12% against the previous year. Global production peaked at 16M tons in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure. The general negative trend in terms output was largely conditioned by a noticeable descent of the number of producing animals and a relatively flat trend pattern in yield figures.

In value terms, cows skin production contracted to $18.1B in 2022 estimated in export price. In general, production continues to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2021 with an increase of 15%. Global production peaked at $28.1B in 2012; however, from 2013 to 2022, production failed to regain momentum.

Production By Country

The countries with the highest volumes of production in 2022 were China (2.1M tons), the United States (1.4M tons) and India (842K tons), with a combined 38% share of global production. Indonesia, Japan, Bangladesh, Brazil, Mexico, Ireland and Pakistan lagged somewhat behind, together accounting for a further 16%.

From 2012 to 2022, the biggest increases were recorded for Ireland (with a CAGR of +9.9%), while production for the other global leaders experienced a decline in the production figures.

Imports

World Imports of Raw Hides And Skins Of Bovine Animals

In 2022, supplies from abroad of raw hides and skins of bovine animals increased by 3.1% to 214K tons, rising for the third consecutive year after six years of decline. In general, imports, however, showed a slight descent. The growth pace was the most rapid in 2013 when imports increased by 14% against the previous year. As a result, imports attained the peak of 294K tons. From 2014 to 2022, the growth of global imports failed to regain momentum.

In value terms, cows skin imports surged to $203M in 2022. Over the period under review, imports, however, continue to indicate a pronounced slump. Over the period under review, global imports hit record highs at $358M in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports By Country

The purchases of the twelve major importers of raw hides and skins of bovine animals, namely Nigeria, Germany, Serbia, Japan, Indonesia, Austria, Turkey, Spain, Italy, Cambodia, Slovenia and Poland, represented more than two-thirds of total import.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Nigeria (with a CAGR of +44.4%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, Nigeria ($30M), Serbia ($19M) and Germany ($18M) were the countries with the highest levels of imports in 2022, with a combined 33% share of global imports.

Nigeria, with a CAGR of +49.9%, 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 global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average cows skin import price amounted to $950 per ton, jumping by 26% against the previous year. In general, the import price, however, recorded a noticeable curtailment. Over the period under review, average import prices reached the peak figure at $1,342 per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Nigeria ($1,554 per ton), while Turkey ($659 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+3.8%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Raw Hides And Skins Of Bovine Animals

In 2022, global cows skin exports declined to 300K tons, remaining stable against the previous year's figure. Overall, exports showed a slight contraction. The most prominent rate of growth was recorded in 2021 with an increase of 30% against the previous year. Over the period under review, the global exports reached the maximum at 407K tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, cows skin exports skyrocketed to $236M in 2022. Over the period under review, exports saw a pronounced decline. The most prominent rate of growth was recorded in 2013 when exports increased by 25%. As a result, the exports attained the peak of $483M. From 2014 to 2022, the growth of the global exports remained at a somewhat lower figure.

Exports By Country

Italy was the main exporter of raw hides and skins of bovine animals in the world, with the volume of exports recording 82K tons, which was near 27% of total exports in 2022. Austria (36K tons) took a 12% share (based on physical terms) of total exports, which put it in second place, followed by Slovakia (9.5%), Germany (7.5%), Slovenia (6.6%) and China (4.8%). The following exporters - South Korea (12K tons), France (9.3K tons), the UK (6.2K tons), Portugal (5.9K tons), Venezuela (5.6K tons), Guatemala (5.1K tons) and Australia (5K tons) - together made up 16% of total exports.

From 2012 to 2022, average annual rates of growth with regard to cows skin exports from Italy stood at +4.1%. At the same time, South Korea (+43.8%), the UK (+19.4%), Venezuela (+14.1%), Slovenia (+10.5%), China (+6.4%), Portugal (+5.0%), France (+5.0%) and Slovakia (+4.3%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in the world, with a CAGR of +43.8% from 2012-2022. By contrast, Austria (-1.9%), Germany (-3.0%), Australia (-4.0%) and Guatemala (-9.4%) illustrated a downward trend over the same period. While the share of Italy (+12 p.p.), Slovenia (+4.6 p.p.), Slovakia (+4.2 p.p.), South Korea (+3.9 p.p.), China (+2.6 p.p.), the UK (+1.8 p.p.) and France (+1.5 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Guatemala (-2.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Italy ($63M) remains the largest cows skin supplier worldwide, comprising 27% of global exports. The second position in the ranking was held by Austria ($32M), with a 13% share of global exports. It was followed by Slovenia, with a 7.9% share.

From 2012 to 2022, the average annual growth rate of value in Italy stood at +2.8%. In the other countries, the average annual rates were as follows: Austria (-0.8% per year) and Slovenia (+8.8% per year).

Export Prices By Country

The average cows skin export price stood at $789 per ton in 2022, surging by 21% against the previous year. Over the period under review, the export price, however, continues to indicate a pronounced decrease. The global export price peaked at $1,233 per ton in 2014; however, from 2015 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 France ($1,184 per ton), while Guatemala ($331 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Portugal (+8.4%), while the other global leaders experienced mixed trends in the export price figures.

Source: IndexBox Market Intelligence Platform