GCC: Market for Leather of Bovine and Equine Animals 2024

Market Size for Leather of Bovine and Equine Animals in GCC

The GCC bovine and equine leather market shrank to $X in 2022, falling by X% against the previous year. In general, consumption, however, showed a strong expansion. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Production of Leather of Bovine and Equine Animals in GCC

In value terms, bovine and equine leather production contracted to $X in 2022 estimated in export price. Overall, production, however, posted a strong expansion. The growth pace was the most rapid in 2018 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Exports of Leather of Bovine and Equine Animals

Exports in GCC

In 2022, the amount of leather of bovine and equine animals exported in GCC contracted remarkably to X square meters, with a decrease of X% against the year before. Overall, exports showed a drastic downturn. The pace of growth was the most pronounced in 2013 with an increase of X%. As a result, the exports attained the peak of X square meters. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, bovine and equine leather exports skyrocketed to $X in 2022. In general, exports recorded a perceptible contraction. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. The level of export peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Saudi Arabia (X square meters) represented the key exporter of leather of bovine and equine animals, committing X% of total exports. It was distantly followed by the United Arab Emirates (X square meters), mixing up a X% share of total exports. Oman (X square meters) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to bovine and equine leather exports from Saudi Arabia stood at X%. At the same time, Oman (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2022. The United Arab Emirates (X p.p.) and Oman (X p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, the largest bovine and equine leather supplying countries in GCC were Saudi Arabia ($X), the United Arab Emirates ($X) and Oman ($X), with a combined X% share of total exports.

Among the main exporting countries, the United Arab Emirates, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per square meter, picking up by X% against the previous year. Overall, the export price showed a temperate increase. The level of export peaked at $X per square meter in 2018; however, from 2019 to 2022, the export prices remained at a 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 the United Arab Emirates ($X per square meter), while Saudi Arabia ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced mixed trends in the export price figures.

Imports of Leather of Bovine and Equine Animals

Imports in GCC

In 2022, the amount of leather of bovine and equine animals imported in GCC reduced sharply to X square meters, which is down by X% on the previous year's figure. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. As a result, imports reached the peak of X square meters. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, bovine and equine leather imports expanded to $X in 2022. In general, imports, however, showed a noticeable increase. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

The United Arab Emirates dominates imports structure, reaching X square meters, which was near X% of total imports in 2022. It was distantly followed by Saudi Arabia (X square meters), creating a X% share of total imports. Oman (X square meters) and Kuwait (X square meters) took a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to bovine and equine leather imports into the United Arab Emirates stood at X%. At the same time, Kuwait (X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2022. By contrast, Oman (X%) and Saudi Arabia (X%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Saudi Arabia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported leather of bovine and equine animals in GCC, comprising X% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with a X% share of total imports. It was followed by Oman, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Saudi Arabia (X% per year) and Oman (X% per year).

Import Prices by Country

The import price in GCC stood at $X per square meter in 2022, increasing by X% against the previous year. Import price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, bovine and equine leather import price increased by X% against 2019 indices. The growth pace was the most rapid in 2018 when the import price increased by X%. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

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 Oman ($X per square meter), while Kuwait ($X per square meter) was amongst the lowest.

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

Source: IndexBox Platform

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