Philippines: Market for Raw Hides And Skins of Cattle 2024

Market Size for Raw Hides And Skins of Cattle in the Philippines

The Philippine cattle hide and skin market declined to $X in 2023, reducing by X% against the previous year. Overall, consumption, however, continues to indicate a perceptible downturn. Cattle hide and skin consumption peaked at $X in 2012; however, from 2013 to 2023, consumption stood at a somewhat lower figure.

Production of Raw Hides And Skins of Cattle in the Philippines

In value terms, cattle hide and skin production fell dramatically to $X in 2023 estimated in export price. Over the period under review, production recorded a pronounced decline. The growth pace was the most rapid in 2019 when the production volume increased by X% against the previous year. Cattle hide and skin production peaked at $X in 2020; however, from 2021 to 2023, production failed to regain momentum.

In 2023, the average yield of raw hides and skins of cattle in the Philippines amounted to X kg per head, remaining constant against the previous year's figure. Over the period under review, the yield showed a noticeable decline. The growth pace was the most rapid in 2014 with an increase of X%. Over the period under review, the average cattle hide and skin yield hit record highs at X kg per head in 2015; however, from 2016 to 2023, the yield failed to regain momentum.

In 2023, approx. X heads of animals slaughtered for cattle hide and skin production in the Philippines; almost unchanged from the previous year. Overall, the number of producing animals, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, this number attained the maximum level at X heads in 2016; however, from 2017 to 2023, producing animals failed to regain momentum.

Exports of Raw Hides And Skins of Cattle

Exports from the Philippines

In 2023, overseas shipments of raw hides and skins of cattle decreased by X% to X tons for the first time since 2017, thus ending a five-year declining trend. In general, exports showed a dramatic shrinkage. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2023, the growth of the exports remained at a lower figure.

In value terms, cattle hide and skin exports soared to $X in 2023. Overall, exports continue to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2014 with an increase of X%. As a result, the exports reached the peak of $X. From 2015 to 2023, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for cattle hide and skin exports from the Philippines, accounting for a approx. X% share of total exports.

From 2012 to 2023, the average annual growth rate of volume to the United States was relatively modest.

In value terms, the United States ($X) emerged as the key foreign market for raw hides and skins of cattle exports from the Philippines.

From 2012 to 2023, the average annual growth rate of value to the United States was relatively modest.

Export Prices by Country

The average cattle hide and skin export price stood at $X per ton in 2023, rising by X% against the previous year. Over the period under review, the export price showed a significant increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2023, the rate of growth in terms of prices for Vietnam amounted to X% per year.

Imports of Raw Hides And Skins of Cattle

Imports into the Philippines

In 2023, overseas purchases of raw hides and skins of cattle increased by X% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, imports posted a significant expansion. The most prominent rate of growth was recorded in 2015 when imports increased by X%. Over the period under review, imports hit record highs in 2023 and are likely to see steady growth in years to come.

In value terms, cattle hide and skin imports skyrocketed to $X in 2023. Overall, imports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2016; afterwards, it flattened through to 2023.

Imports by Country

Japan (X tons), India (X tons) and Australia (X tons) were the main suppliers of cattle hide and skin imports to the Philippines, with a combined X% share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Japan (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest cattle hide and skin suppliers to the Philippines were Japan ($X), China ($X) and South Korea ($X), with a combined X% share of total imports.

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

Import Prices by Country

In 2023, the average cattle hide and skin import price amounted to $X per ton, jumping by X% against the previous year. Overall, the import price, however, recorded a deep setback. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Italy (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform