Raw bovine and equine hides and skins market in GCC

Earlier Report Observations

The market for raw bovine and equine hides and skins in the GCC region experienced considerable volatility between 2018 and 2023, with the overall volume expanding from 7 507 t to 9 430 t. This 25% increase was not linear, as the market contracted sharply in 2019 and 2022, dropping to around 6 000 t, before rebounding strongly in the following years.

A notable surge occurred in 2023, when the market size jumped by 59% to reach 9 430 t. This growth was driven by a combination of stable domestic production exceeding 10 000 t and a substantial rise in imports, which more than tripled compared to the previous year, while exports moderated from their 2022 peak.

Production raw bovine and equine hides and skins in GCC

In kind, 2017-2020, 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

GCC's production of raw bovine and equine hides and skins has grown for the second year in a row. In 2020, the region produced 9 641 tonnes, marking a modest increase of 1.8% compared to the previous year. Looking at the period from 2017 to 2020, production rose by 12%, with an average annual growth rate of 3.8%. The lowest production level was in 2018 at 8 533 tonnes, which saw a slight decline of 0.9%. In contrast, 2019 recorded the largest increase of 11.0%.

Annual dynamics of production in GCC in kind, 2017-2020, t

Exports raw bovine and equine hides and skins from GCC

Exports in kind, t

Market performance showed significant fluctuations during this period. The lowest export volume was in 2018 at 1 400 tonnes, while the highest was in 2019 at 3 754 tonnes, resulting in a peak-to-trough ratio of 2.7 times. In 2020, GCC exported 3 664 tonnes of raw bovine and equine hides and skins, representing a small decline of 2.4% from the year before. The largest decrease occurred in 2018 at 47.6%, whereas 2019 saw the biggest increase of 168.0%.

Annual dynamics of product's exports from GCC in kind, 2017-2020, t

From 2017 to 2020, India, Nigeria, and Lebanon were consistently the top destinations for exports in kind. India accounted for 45.3% of exports, Nigeria for 13.9%, and Lebanon for 11.7%. Together, these three countries made up 70.9% of total export flows.

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

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

Exports in value, K $ US

In 2020, GCC's exports of raw bovine and equine hides and skins in value terms amounted to 2 892 thousand US dollars, showing a dramatic reduction of 38.3% compared to the previous year. Over the 2017-2020 period, exports decreased by 25.7%, with an average annual decline of 9.4%. The highest value was recorded in 2019 at 4 684 thousand US dollars, which also saw the largest increase of 56.8%.

Annual dynamics of product's exports from GCC in value, 2017-2020, K $ US

Between 2017 and 2020, India, Nigeria, and Pakistan were the main destinations for exports in value terms. India led with 61.2% of exports, followed by Nigeria at 8.8% and Pakistan at 5.0%. Collectively, these three countries absorbed 75.0% of total export value from GCC.

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

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

Imports raw bovine and equine hides and skins to GCC

Imports in kind, t

GCC's imports of raw bovine and equine hides and skins in kind have declined for the second consecutive year. In 2020, imports stood at 84 tonnes, reflecting a sharp loss of 64.8% compared to 2019. From 2017 to 2020, imports decreased by 68.2%, equating to an annualized rate of 31.7%. The highest import volume was in 2018 at 375 tonnes, which also recorded the largest increase of 42.2%.

Annual dynamics of product's imports to GCC in kind, 2017-2020, t

Over the 2017-2020 period, Italy, Turkey, and Pakistan were the biggest contributors to imports in kind. Italy accounted for 34.6% of imports, Turkey for 24.3%, and Pakistan for 3.3%. Together, these three countries made up 62.1% of total import flows.

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

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

Imports in value, K $ US

GCC's imports of raw bovine and equine hides and skins in value terms have fallen for the third year in a row. In 2020, imports totaled 254 thousand US dollars, representing a limited drop of 4.2% from the previous year. Between 2017 and 2020, imports decreased by 42.3%, with an annualized rate of 16.7%.

Annual dynamics of product's imports to GCC in value, 2017-2020, K $ US

From 2017 to 2020, Italy, Turkey, and Austria continued to lead as the main suppliers of raw bovine and equine hides and skins to GCC in value terms. Italy accounted for 34.2% of imports, Turkey for 13.1%, and Austria for 9.5%. Jointly, these three countries took 56.8% of total import value.

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

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