Raw bovine and equine hides and skins market in Thailand

Earlier Report Observations

The market for raw bovine and equine hides and skins in Thailand showed high volatility from 2018 to 2023. It began at 141 thousand tons in 2018 before contracting sharply to 52 thousand tons in 2019, a shift driven almost entirely by a steep fall in imports. Imports then recovered, pulling the market size up to 89 thousand tons in 2022, the highest point in the period, before it retreated again to 62 thousand tons in 2023.

Throughout these swings, domestic production was comparatively stable, ranging between 14.5 and 17.5 thousand tons with a gentle downward trend. Consequently, changes in import volumes were the primary driver of the total market's size, indicating the market's heavy reliance on foreign supply to meet local demand.

In 2024, notable industry developments emerged, including the Thai Leather Industry Association actively promoting sheep and goat skins as alternatives to bovine hides, citing their lighter weight and finer texture amid changing consumer sentiments. The year also saw the Thailand Beef Fest 2024, an event focused on advancing high-quality beef production and innovation within the country.

Production raw bovine and equine hides and skins in Thailand

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

Thailand produced 15 440 tonnes of raw bovine and equine hides and skins in 2020, marking a significant 12.0% year-over-year decline. Over the 2017-2020 period, production fell by 16.3%, with a compound annual growth rate of 5.7%. The only increase during this timeframe occurred in 2019, when production rose by 1.1%.

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

Exports raw bovine and equine hides and skins from Thailand

Exports in kind, K t

In 2020, Thailand exported 1.7 thousand tonnes of raw bovine and equine hides and skins, representing a 1.5% decrease from the previous year. Between 2017 and 2020, exports dropped by 31.4%, which translates to an annualized decline of 11.8%. The lowest export volume was recorded in 2018 at 1.7 thousand tonnes, with the largest single-year decline of 31.7% also occurring that year. In contrast, 2019 saw a modest increase of 1.9%.

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

From 2017 to 2020, Japan was consistently the primary and nearly exclusive destination for Thailand's exports of raw bovine and equine hides and skins in volume terms, accounting for 100.0% of shipments.

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

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

Exports in value, M $ US

After two consecutive years of decline, Thailand's exports of raw bovine and equine hides and skins in value terms rebounded in 2020. The country exported 2.5 million US dollars worth of these products, a substantial 69.6% increase compared to 2019. However, over the entire 2017-2020 period, exports decreased by 15.9%, equivalent to an annualized decline of 5.6%. The lowest value was recorded in 2019 at 1.5 million US dollars, which also saw the largest single-year drop of 33.6%.

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

During the 2017-2020 period, Japan remained Thailand's dominant trading partner for exports of raw bovine and equine hides and skins in value terms, capturing 78.9% of total flows. Other markets collectively formed a long tail of smaller importers.

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

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

Imports raw bovine and equine hides and skins to Thailand

Imports in kind, K t

The import market for raw bovine and equine hides and skins in Thailand showed considerable volatility throughout the period. Imports reached their lowest point in 2019 at 36.1 thousand tonnes, then peaked in 2018 at 125.5 thousand tonnes, creating a 3.5-fold difference between these years. In 2020, imports stood at 51.5 thousand tonnes, representing a 42.8% increase from 2019. The most significant decline occurred in 2019, with a dramatic 71.2% drop.

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

From 2017 to 2020, the United States (54.7% of import volume), Australia (14.5%), and Vietnam (10.3%) consistently served as Thailand's main sources for raw bovine and equine hides and skins in volume terms. Together, these three countries accounted for 79.5% of total imports.

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

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

Imports in value, M $ US

Thailand's imports of raw bovine and equine hides and skins in value terms declined for the third consecutive year in 2020. Import volume totaled 38.0 million US dollars, showing a notable 10.5% decrease compared to 2019. Over the 2017-2020 period, imports fell by 79.7%, equating to an annualized decline of 41.2%.

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

During the 2017-2020 period, the United States (62.3% of import value), Australia (15.9%), and the United Kingdom (5.1%) were Thailand's primary sources for raw bovine and equine hides and skins in value terms. Together, these three markets accounted for 83.2% of total import flows.

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

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