Raw bovine and equine hides and skins market in Eastern Asia

Earlier Report Observations

The market for raw bovine and equine hides and skins in Eastern Asia grew from 2 523 thousand tons in 2018 to over 3 million tons by 2023. This expansion was primarily fueled by the African swine fever outbreak, which increased demand for beef and consequently for hides. Concurrently, a sustained rise in beef imports supplied additional raw hides to the market, supporting overall volume growth.

The market's upward trajectory continued through 2020 despite COVID-19 related supply chain disruptions, as steady growth in domestic beef production and imports maintained hide availability. A slight contraction in 2021 and 2022 coincided with significant profitability pressures and losses within the downstream leather processing industry, which temporarily dampened demand for raw hides. The market then rebounded strongly in 2023, reaching 3 042 thousand tons, driven by a substantial surge in beef imports and the expansion of domestic cattle farming capacity.

Throughout the period, broader industry trends shaped the market context. Government policies promoting green circular economy and stricter environmental standards in the leather sector influenced production practices. Additionally, technological innovation and digitalization in cattle farming began to improve efficiency, supporting the long-term supply of raw materials.

Production raw bovine and equine hides and skins in Eastern Asia

In kind, 2017-2020, K t

Top producers of raw bovine and equine hides and skins, 2017-2020

World map of production of raw bovine and equine hides and skins, 2017-2020

Eastern Asia's production of raw bovine and equine hides and skins has grown for the third year in a row. In 2020, the region produced 1 634 thousand tonnes, showing a modest increase of 1.3% compared to 2019. Looking at the period from 2017 to 2020, production rose by 6.5%, which translates to an average annual growth rate of 2.1%.

Annual dynamics of production in Eastern Asia in kind, 2017-2020, K t

In value, 2017-2020, M $ US

In 2020, the value of raw bovine and equine hides and skins production in Eastern Asia was 1 164 million US dollars, representing a sharp decline of 26.3% from 2019. Over the 2017-2020 period, production value fell by 34.9%, with an average annual decrease of 13.3%. The only increase during this time occurred in 2019, when production value rose by 1.7%.

Annual dynamics of production in Eastern Asia in value, 2017-2020, M $ US

Exports raw bovine and equine hides and skins from Eastern Asia

Exports in kind, K t

Eastern Asia's exports of raw bovine and equine hides and skins have declined for the third consecutive year. In 2020, export volume reached 30 thousand tonnes, which is 1.7% lower than in 2019. From 2017 to 2020, exports dropped by 42.6%, equating to an average annual decline of 16.9%.

Annual dynamics of product's exports from Eastern Asia in kind, 2017-2020, K t

Between 2017 and 2020, exports of raw bovine and equine hides and skins from Eastern Asia were distributed across numerous countries. Thailand accounted for 12.3% of export volume, Vietnam for 4.1%, and Asia, not elsewhere specified, for 1.3%. Together, these three destinations represented just 17.7% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Eastern Asia in kind, 2017-2020

Exports in value, M $ US

The value of raw bovine and equine hides and skins exports from Eastern Asia has fallen for the third year in a row. In 2020, exports amounted to 21 million US dollars, marking a steep decrease of 28.5% compared to 2019. Over the 2017-2020 period, export value declined by 64.9%, with a compound annual growth rate of -29.5%.

Annual dynamics of product's exports from Eastern Asia in value, 2017-2020, M $ US

From 2017 to 2020, the distribution of export value remained highly fragmented. Thailand represented 12.9% of export value, Vietnam 2.7%, and Australia 2.2%. Combined, these three countries accounted for only 17.7% of total flows, with no single partner emerging as clearly dominant.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Eastern Asia in value, 2017-2020

Imports raw bovine and equine hides and skins to Eastern Asia

Imports in kind, K t

Eastern Asia's imports of raw bovine and equine hides and skins have increased for the second consecutive year. In 2020, the region imported 1 196 thousand tonnes, showing robust growth of 14.0% compared to 2019. Over the 2017-2020 period, imports rose by 6.6%, with an average annual increase of 2.1%. The lowest import volume was recorded in 2018 at 1 006 thousand tonnes, which represented a decline of 10.4% from the previous year.

Annual dynamics of product's imports to Eastern Asia in kind, 2017-2020, K t

Between 2017 and 2020, the United States, Australia, and Canada were the leading suppliers of raw bovine and equine hides and skins to Eastern Asia. The United States accounted for 48.3% of import volume, Australia for 17.1%, and Canada for 8.5%. Together, these three countries represented 73.8% of total imports in volume terms.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Eastern Asia in kind, 2017-2020

Imports in value, M $ US

The value of raw bovine and equine hides and skins imports into Eastern Asia has declined for the third consecutive year. In 2020, imports were valued at 959 million US dollars, reflecting a significant decrease of 15.0% from 2019. Over the 2017-2020 period, import value fell by 56.3%, with a compound annual decline rate of 24.1%.

Annual dynamics of product's imports to Eastern Asia in value, 2017-2020, M $ US

Throughout 2017-2020, three key markets—the United States, Australia, and Canada—dominated imports in value terms, collectively accounting for 75.3% of total flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Eastern Asia in value, 2017-2020