United Kingdom: Leather Market 2022

Leather Market Size in the UK

The UK leather market fell to $X in 2021, waning by -7.6% against the previous year. The market value increased at an average annual rate of +1.2% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Leather consumption peaked at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

Leather Production in the UK

In value terms, leather production rose slightly to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of 16% against the previous year. Over the period under review, production attained the peak level at $X in 2016; however, from 2017 to 2021, production stood at a somewhat lower figure.

Leather Exports

Exports from the UK

After three years of decline, shipments abroad of leather increased by 63% to X tons in 2021. Overall, exports, however, saw a pronounced setback. Over the period under review, the exports attained the peak figure at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, leather exports skyrocketed to $X in 2021. Over the period under review, exports, however, showed a abrupt contraction. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Italy (X tons) was the main destination for leather exports from the UK, with a 27% share of total exports. Moreover, leather exports to Italy exceeded the volume sent to the second major destination, Romania (X tons), eightfold. Hong Kong SAR (X tons) ranked third in terms of total exports with a 3.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Italy stood at -13.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+41.3% per year) and Hong Kong SAR (-11.7% per year).

In value terms, the largest markets for leather exported from the UK were the United States ($X), Italy ($X) and Romania ($X), together accounting for 35% of total exports.

Romania, with a CAGR of +33.5%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average leather export price stood at $X per ton in 2021, almost unchanged from the previous year. In general, the export price, however, continues to indicate a mild contraction. The most prominent rate of growth was recorded in 2015 an increase of 38%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was the United States ($X per ton), while the average price for exports to Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+2.9%), while the prices for the other major destinations experienced more modest paces of growth.

Leather Imports

Imports into the UK

In 2021, the amount of leather imported into the UK soared to X tons, jumping by 40% compared with 2020. Over the period under review, total imports indicated tangible growth from 2012 to 2021: its volume increased at an average annual rate of +2.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, leather imports soared to $X in 2021. Overall, imports, however, showed a noticeable reduction. The growth pace was the most rapid in 2013 when imports increased by 22% against the previous year. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Italy (X tons) constituted the largest leather supplier to the UK, with a 76% share of total imports. Moreover, leather imports from Italy exceeded the figures recorded by the second-largest supplier, Germany (X tons), more than tenfold. The third position in this ranking was held by Argentina (X tons), with a 5.7% share.

From 2012 to 2021, the average annual growth rate of volume from Italy stood at +12.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-4.2% per year) and Argentina (-4.4% per year).

In value terms, Italy ($X) constituted the largest supplier of leather to the UK, comprising 68% of total imports. The second position in the ranking was held by Germany ($X), with a 17% share of total imports. It was followed by Spain, with a 7.6% share.

From 2012 to 2021, the average annual growth rate of value from Italy was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+4.8% per year) and Spain (+5.4% per year).

Import Prices by Country

The average leather import price stood at $X per ton in 2021, declining by -15.7% against the previous year. Overall, the import price showed a deep setback. The most prominent rate of growth was recorded in 2016 when the average import price increased by 22% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was the Netherlands ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovakia (+30.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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