Philippines: Market for Leather of Bovine and Equine Animals 2024

Market Size for Leather of Bovine and Equine Animals in the Philippines

The Philippine bovine and equine leather market surged to $X in 2022, growing by X% 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 strong growth. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in years to come.

Exports of Leather of Bovine and Equine Animals

Exports from the Philippines

In 2022, approx. X square meters of leather of bovine and equine animals were exported from the Philippines; with a decrease of X% against 2021 figures. Over the period under review, exports continue to indicate a abrupt shrinkage. The growth pace was the most rapid in 2013 with an increase of X%. The exports peaked at X square meters in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, bovine and equine leather exports soared to $X in 2022. In general, exports recorded a pronounced decrease. The most prominent rate of growth was recorded in 2014 when exports increased by X%. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X square meters), Hong Kong SAR (X square meters) and Cambodia (X square meters) were the main destinations of bovine and equine leather exports from the Philippines.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Korea (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X), China ($X) and Cambodia ($X) appeared to be the largest markets for bovine and equine leather exported from the Philippines worldwide.

In terms of the main countries of destination, Hong Kong SAR, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average bovine and equine leather export price amounted to $X per square meter, picking up by X% against the previous year. Over the period under review, the export price enjoyed buoyant growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per square meter), while the average price for exports to Cambodia ($X per square meter) was amongst the lowest.

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

Imports of Leather of Bovine and Equine Animals

Imports into the Philippines

In 2022, the amount of leather of bovine and equine animals imported into the Philippines skyrocketed to X square meters, increasing by X% on 2021 figures. Over the period under review, imports posted a resilient increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports hit record highs at X square meters in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, bovine and equine leather imports surged to $X in 2022. In general, imports enjoyed a prominent increase. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Italy (X square meters), South Korea (X square meters) and Vietnam (X square meters) were the main suppliers of bovine and equine leather imports to the Philippines, with a combined X% share of total imports. China, Taiwan (Chinese), Hong Kong SAR, Indonesia, Brazil, Thailand and Pakistan lagged somewhat behind, together accounting for a further X%.

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

In value terms, Italy ($X), South Korea ($X) and China ($X) were the largest bovine and equine leather suppliers to the Philippines, together accounting for X% of total imports. Vietnam, Hong Kong SAR, Taiwan (Chinese), Indonesia, Brazil, Thailand and Pakistan lagged somewhat behind, together comprising a further X%.

Indonesia, with a CAGR of X%, recorded 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

The average bovine and equine leather import price stood at $X per square meter in 2022, reducing by X% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per square meter. From 2016 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Pakistan ($X per square meter), while the price for Vietnam ($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 Brazil (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :