Raw bovine and equine hides and skins market in South America

Earlier Report Observations

From 2018 to 2019, production of raw bovine and equine hides in South America remained stable, with a slight increase from 1 743 thousand tons to 1 769 thousand tons, while the market size grew from 1 696 thousand tons to 1 742 thousand tons. In 2020, the market contracted as exports surged to 141 thousand tons, partly due to a temporary suspension of export duties on raw hides in Argentina, implemented to counter pandemic-related economic challenges. This measure made exports more attractive, reducing domestic availability. Concurrently, production dipped slightly to 1 722 thousand tons, contributing to a market size decline to 1 599 thousand tons.

The downturn continued in 2021, with production falling to 1 662 thousand tons as Brazil's beef output shrank by 5.9% due to weakened external demand from COVID-19 sanitary and logistical restrictions. This reduced the supply of raw hides, further squeezing the market size to 1 517 thousand tons despite high export volumes. Recovery began in 2022, with production rebounding to 1 757 thousand tons and the market size expanding to 1 661 thousand tons. By 2023, production reached a peak of 1 866 thousand tons, supported by growth in Brazil's cattle herd, which had expanded to 224.6 million head by 2021, fostering increased hide output. The market size rose to 1 694 thousand tons, even as exports climbed to 213 thousand tons, indicating resilient demand.

Production raw bovine and equine hides and skins in South America

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

South America's production of raw bovine and equine hides and skins saw a two-year increase before declining. In 2020, production reached 1 722 K t, marking a 2.7% decrease from the previous year. Over the period from 2017 to 2020, production grew by 2.1%, which translates to an average annual rate of 0.7%. The peak production was recorded in 2019 at 1 769 K t, with the largest year-over-year increase occurring in 2018 at 3.4%.

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

Exports raw bovine and equine hides and skins from South America

Exports in kind, K t

The market experienced notable fluctuations during this period. Exports reached their lowest point in 2019 and peaked in 2020, showing a 2.9-fold difference between these years. In 2020, South America exported 141.4 K t of raw bovine and equine hides and skins, representing a substantial 191.6% increase compared to 2019. The minimum export volume was recorded in 2019 at 48.5 K t, which also saw the largest decline of 20.8%.

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

From 2017 to 2020, China, Thailand, and Hong Kong emerged as the primary markets for exports in kind. China accounted for 37.9% of exports, Thailand for 10.3%, and Hong Kong for 8.8%. Together, these three markets represented 56.9% of total export flows.

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

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

Exports in value, K $ US

After two years of contraction, the value of raw bovine and equine hides and skins exports from South America rebounded. In 2020, exports amounted to 48 424 K US dollars, reflecting a sharp increase of 50.5% from the previous year. However, over the 2017-2020 period, exports decreased by 34.8%, with a compound annual growth rate of -13.3%. The lowest value was recorded in 2019 at 32 178 K US dollars, which also experienced the largest decline of 52.2%.

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

During 2017-2020, China, Hong Kong, and Thailand remained the main buyers in value terms. China represented 32.0% of exports, Hong Kong 20.1%, and Thailand 10.1%. Collectively, these three markets accounted for 62.2% of total export value.

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

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

Imports raw bovine and equine hides and skins to South America

Imports in kind, K t

The market displayed volatility over the observed period. Imports hit their lowest point in 2017 and peaked in 2019, with a 2.7-fold fluctuation between these years. In 2020, South America imported 18.9 K t of raw bovine and equine hides and skins, which was 9.7% lower than in 2019. The maximum import volume was recorded in 2019 at 20.9 K t, while the largest increase occurred in 2018 at 88.9%.

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

Between 2017 and 2020, the United States and South Africa were the leading suppliers of raw bovine and equine hides and skins to South America, jointly accounting for 31.3% of total imports in kind.

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

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

Imports in value, K $ US

The market showed an unstable trend throughout this timeframe. Imports reached their trough in 2017 and peaked in 2018, with a 1.8-fold gap between these years. In 2020, South America imported 19 866 K US dollars worth of raw bovine and equine hides and skins, which was 11.3% lower than in 2019. The highest import value was recorded in 2018 at 22 708 K US dollars, which also saw the largest increase of 77.3%.

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

From 2017 to 2020, the United States and South Africa formed the core group of markets for imports in value terms, jointly representing 55.9% of total import flows.

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

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