Canada: Leather Market 2022

Leather Market Size in Canada

In 2021, the Canadian leather market increased by 23% to $X for the first time since 2017, thus ending a three-year declining trend. Overall, consumption, however, recorded a perceptible downturn. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Leather Production in Canada

In value terms, leather production expanded significantly to $X in 2021 estimated in export price. Over the period under review, the total production indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +3.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -19.2% against 2017 indices. The pace of growth was the most pronounced in 2016 when the production volume increased by 36%. Leather production peaked at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Leather Exports

Exports from Canada

Leather exports from Canada expanded significantly to X tons in 2021, picking up by 10% on 2020. In general, total exports indicated a perceptible expansion from 2012 to 2021: its volume increased at an average annual rate of +2.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -0.6% against 2019 indices. The growth pace was the most rapid in 2014 with an increase of 33% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, leather exports dropped to $X in 2021. Overall, exports, however, showed a perceptible decrease. The pace of growth was the most pronounced in 2014 with an increase of 40%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for leather exports from Canada, accounting for a 42% share of total exports. Moreover, leather exports to the United States exceeded the volume sent to the second major destination, Nigeria (X tons), threefold. The third position in this ranking was held by China (X tons), with a 2.7% share.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled -3.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nigeria (+23.4% per year) and China (+3.7% per year).

In value terms, the United States ($X) remains the key foreign market for leather exports from Canada, comprising 79% of total exports. The second position in the ranking was held by Nigeria ($X), with a 2.9% share of total exports. It was followed by Hong Kong SAR, with a 2.8% share.

From 2012 to 2021, the average annual growth rate of value to the United States totaled -4.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nigeria (+33.8% per year) and Hong Kong SAR (+1.4% per year).

Export Prices by Country

In 2021, the average leather export price amounted to $X per ton, with a decrease of -17.8% against the previous year. Overall, the export price showed a abrupt contraction. The growth pace was the most rapid in 2016 when the average export price increased by 8.7% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the the average export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Nigeria ($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 Hong Kong SAR (+14.6%), while the prices for the other major destinations experienced more modest paces of growth.

Leather Imports

Imports into Canada

In 2021, after two years of decline, there was significant growth in purchases abroad of leather, when their volume increased by 27% to X tons. Over the period under review, imports, however, showed a perceptible shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of 41% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, leather imports surged to $X in 2021. In general, imports, however, showed a abrupt decrease. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Italy (X tons), the United States (X tons) and Brazil (X tons) were the main suppliers of leather imports to Canada, together comprising 78% of total imports. These countries were followed by Mexico, China, India, Germany and South Korea, which together accounted for a further 13%.

From 2012 to 2021, the biggest increases were in India (with a CAGR of +7.4%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest leather suppliers to Canada were Italy ($X), the United States ($X) and Brazil ($X), together accounting for 83% of total imports. India, Mexico, China, South Korea and Germany lagged somewhat behind, together comprising a further 12%.

India, with a CAGR of +7.2%, saw 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 a decline.

Import Prices by Country

The average leather import price stood at $X per ton in 2021, dropping by -1.6% against the previous year. Overall, the import price showed a mild decrease. The most prominent rate of growth was recorded in 2016 when the average import price increased by 27%. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was South Korea ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+1.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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