Bangladesh: Market for Leather of Bovine and Equine Animals 2024

Market Size for Leather of Bovine and Equine Animals in Bangladesh

The Bangladeshi bovine and equine leather market shrank remarkably to $X in 2021, waning by -22.4% against the previous year. In general, consumption saw a abrupt decrease. Bovine and equine leather consumption peaked at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Production of Leather of Bovine and Equine Animals in Bangladesh

In value terms, bovine and equine leather production amounted to $X in 2021 estimated in export price. Overall, production, however, saw a deep downturn. The pace of growth was the most pronounced in 2014 with an increase of 13% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

Exports of Leather of Bovine and Equine Animals

Exports from Bangladesh

Bovine and equine leather exports from Bangladesh surged to X tons in 2021, rising by 124% compared with the previous year. Over the period under review, exports continue to indicate a slight increase. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, bovine and equine leather exports surged to $X in 2021. Overall, exports, however, showed a drastic downturn. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for bovine and equine leather exports from Bangladesh, with a 58% share of total exports. Moreover, bovine and equine leather exports to China exceeded the volume sent to the second major destination, India (X tons), fivefold. The third position in this ranking was held by Taiwan (Chinese) (X tons), with a 7.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China amounted to +4.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+37.1% per year) and Taiwan (Chinese) (+14.0% per year).

In value terms, China ($X) remains the key foreign market for leather of bovine and equine animals exports from Bangladesh, comprising 49% of total exports. The second position in the ranking was taken by Italy ($X), with a 5.7% share of total exports. It was followed by Hong Kong SAR, with a 5.4% share.

From 2012 to 2021, the average annual growth rate of value to China amounted to +7.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (-14.9% per year) and Hong Kong SAR (-20.6% per year).

Export Prices by Country

The average bovine and equine leather export price stood at $X per ton in 2021, reducing by -24.1% against the previous year. In general, the export price recorded a abrupt downturn. The growth pace was the most rapid in 2014 when the average export price increased by 16%. Over the period under review, the average export prices attained the maximum at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Taiwan (Chinese) ($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 China (+3.2%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Leather of Bovine and Equine Animals

Imports into Bangladesh

In 2021, purchases abroad of leather of bovine and equine animals was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports saw a remarkable increase. The pace of growth appeared the most rapid in 2014 when imports increased by 68%. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, bovine and equine leather imports soared to $X in 2021. Overall, imports enjoyed resilient growth. The most prominent rate of growth was recorded in 2014 with an increase of 42% against the previous year. Imports peaked in 2021 and are likely to continue growth in years to come.

Imports by Country

China (X tons), Vietnam (X tons) and Australia (X tons) were the main suppliers of bovine and equine leather imports to Bangladesh, together comprising 44% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +56.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest bovine and equine leather suppliers to Bangladesh were Vietnam ($X), China ($X) and Hong Kong SAR ($X), with a combined 47% share of total imports.

China, with a CAGR of +50.7%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average bovine and equine leather import price amounted to $X per ton, with a decrease of -3.7% against the previous year. In general, the import price continues to indicate a perceptible slump. The pace of growth appeared the most rapid in 2020 when the average import price increased by 20%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Pakistan ($X per ton), while the price for Australia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (-1.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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