Raw bovine and equine hides and skins market in India

Earlier Report Observations

The market volume for raw bovine and equine hides and skins in India showed a varied trajectory from 2018 to 2023, beginning at 952.5 thousand tons and peaking at 988.7 thousand tons in 2023. This overall growth was interrupted by a sharp decline in 2020, when the market contracted to 838.4 thousand tons, before staging a sustained recovery through 2021 and 2022.

The market's increase to 988.7 thousand tons in 2023 coincided with a surge in exports, which reached 11.9 thousand tons that year. Shipments to key destinations like Malaysia, Germany, and the United States grew significantly, with Malaysia showing particularly strong demand. This rising export activity provided direct support for domestic production, which climbed to 985.4 thousand tons.

By 2024, the sector contended with a dramatic 30.5% fall in average export prices to $214 per ton. The operating environment continued to be influenced by factors including animal slaughter policies, environmental regulations for tanneries, and foreign trade frameworks. While supply chain challenges persisted, ongoing economic improvements and the digitalization of processes enhanced industry resilience.

Production raw bovine and equine hides and skins in India

In kind, 2017-2020, K t

From 2017 to 2020, India ranked as the world's third-largest producer of raw bovine and equine hides and skins.

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

India's production of raw bovine and equine hides and skins declined after a two-year period of growth. In 2020, the country produced 828.9 K t, marking an 11.9% decrease compared to the previous year. Over the 2017-2020 period, production fell by 11.1%, with a compound annual growth rate of -3.9%. The highest production level was recorded in 2019 at 941.3 K t, which represented a modest increase of 0.7% from the previous year.

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

Exports raw bovine and equine hides and skins from India

Exports in kind, t

India's exports of raw bovine and equine hides and skins have grown for three consecutive years. In 2020, exports reached 1 334 t, showing a remarkable 377.2% increase year-over-year. Between 2017 and 2020, exports surged by 2 080.1%, translating to a compound annual growth rate of 179.4%.

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

Between 2017 and 2020, Bangladesh, Indonesia, and Vietnam were the primary destinations for India's exports of raw bovine and equine hides and skins by volume. Bangladesh accounted for 39.3% of exports, Indonesia for 18.6%, and Vietnam for 16.8%. Together, these three countries represented 74.7% of India's total export flows in this category.

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

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

Exports in value, K $ US

The export value data shows significant volatility, reflecting an unstable market environment. India's export value of raw bovine and equine hides and skins reached its lowest point in 2017 and peaked in 2020, with the peak value being 4.8 times higher than the lowest. In 2020, exports totaled 489 K $ US, representing a sharp increase of 177.3% compared to the previous year. The largest decline occurred in 2019 with a 46.0% drop, while the most substantial increase was recorded in 2018 at 221.5%.

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

From 2017 to 2020, France, Bangladesh, and Vietnam were the main destinations for India's exports of raw bovine and equine hides and skins by value. France accounted for 29.1% of export value, Bangladesh for 24.1%, and Vietnam for 7.5%. Collectively, these three countries represented 60.7% of India's total export value in this sector.

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

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

Imports raw bovine and equine hides and skins to India

Imports in kind, t

India's imports of raw bovine and equine hides and skins totaled 10 799 t in 2020, indicating a sharp decrease of 42.4% compared to 2019. Over the 2017-2020 period, imports declined by 42.4%, equivalent to an annualized rate of -16.8%. The highest import volume was recorded in 2019 at 18 759 t, which represented a 4.7% increase from the previous year.

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

Between 2017 and 2020, India's import sources for raw bovine and equine hides and skins by volume were highly diversified. Myanmar accounted for 13.6% of imports, Saudi Arabia for 10.8%, and Yemen for 10.6%. Together, these three countries represented only 34.9% of total import flows, with the remaining 65.1% distributed among numerous other trading partners.

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

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

Imports in value, K $ US

India's imports of raw bovine and equine hides and skins by value have declined for three consecutive years. In 2020, imports totaled 9 461 K $ US, marking a sharp decrease of 51.4% year-over-year. Between 2017 and 2020, import value fell by 71.9%, equivalent to an annualized rate of -34.5%.

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

During the 2017-2020 period, Saudi Arabia, the United States, and Italy were significant suppliers of raw bovine and equine hides and skins to India by value. Saudi Arabia accounted for 14.6% of import value, the United States for 12.7%, and Italy for 11.9%. However, their combined share reached only 39.2% of total import value, with the remaining 60.8% spread across many other trading partners.

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

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