GCC: Market for Goat Or Kid Hides And Skins 2024

Market Size for Goat Or Kid Hides And Skins in GCC

In 2021, after two years of growth, there was decline in the GCC goat hides and skins market, when its value decreased by -2.5% to $X. The total consumption indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +15.1% against 2017 indices. As a result, consumption attained the peak level of $X, and then fell slightly in the following year.

Production of Goat Or Kid Hides And Skins in GCC

In value terms, goat hides and skins production declined to $X in 2021 estimated in export price. The total production indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +11.9% against 2019 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by 54%. Over the period under review, production reached the maximum level at $X in 2020, and then reduced in the following year.

The countries with the highest volumes of production in 2021 were Saudi Arabia (X tons), the United Arab Emirates (X tons) and Oman (X tons), with a combined 99% share of total production.

From 2012 to 2021, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by Saudi Arabia (with a CAGR of +6.9%), while production for the other leaders experienced more modest paces of growth.

In 2021, the average goat hides and skins yield in GCC amounted to X kg per head, growing by 3.1% compared with the year before. Over the period under review, the yield recorded a relatively flat trend pattern. As a result, the yield attained the peak level and is likely to continue growth in the immediate term.

In 2021, approx. X heads of animals slaughtered for goat hides and skins production in GCC; approximately equating the year before. The total number of producing animals indicated a buoyant increase from 2012 to 2021: its figure increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, number of animals slaughtered for goat hides and skins production increased by +56.6% against 2012 indices. The most prominent rate of growth was recorded in 2020 with an increase of 23% against the previous year. As a result, the number of animals produced reached the peak level of X heads, leveling off in the following year.

Exports of Goat Or Kid Hides And Skins

Exports in GCC

After two years of decline, overseas shipments of goat or kid hides and skins increased by 30% to X tons in 2021. Overall, exports, however, continue to indicate a drastic downturn. The growth pace was the most rapid in 2014 when exports increased by 147%. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, goat hides and skins exports surged to $X in 2021. In general, exports, however, continue to indicate a perceptible slump. The pace of growth was the most pronounced in 2014 when exports increased by 109%. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Saudi Arabia represented the main exporter of goat or kid hides and skins in GCC, with the volume of exports accounting for X tons, which was approx. 68% of total exports in 2021. The United Arab Emirates (X tons) held the second position in the ranking, followed by Oman (X tons). All these countries together took near 32% share of total exports.

Saudi Arabia was also the fastest-growing in terms of the goat or kid hides and skins exports, with a CAGR of +18.9% from 2012 to 2021. Oman (-11.3%) and the United Arab Emirates (-14.8%) illustrated a downward trend over the same period. While the share of Saudi Arabia (+59 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Oman (-11.4 p.p.) and the United Arab Emirates (-29.5 p.p.) displayed negative dynamics.

In value terms, Saudi Arabia ($X) remains the largest goat hides and skins supplier in GCC, comprising 66% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 20% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Saudi Arabia stood at +17.9%. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (-12.2% per year) and Oman (-3.8% per year).

Export Prices by Country

In 2021, the export price in GCC amounted to $X per ton, increasing by 10% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.0%. The most prominent rate of growth was recorded in 2013 when the export price increased by 28%. The level of export peaked in 2021 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+8.5%), while the other leaders experienced mixed trends in the export price figures.

Imports of Goat Or Kid Hides And Skins

Imports in GCC

After six years of decline, overseas purchases of goat or kid hides and skins increased by 98% to X tons in 2021. Over the period under review, imports, however, saw a precipitous slump. The most prominent rate of growth was recorded in 2014 with an increase of 229% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, goat hides and skins imports surged to $X in 2021. In general, imports, however, saw a mild setback. The most prominent rate of growth was recorded in 2014 when imports increased by 132%. The level of import peaked at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Kuwait (X tons) and the United Arab Emirates (X tons) dominates imports structure, together comprising 95% of total imports. The following importers - Oman (X kg) and Saudi Arabia (X kg) - together made up 4.7% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Saudi Arabia (with a CAGR of +200.0%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported goat or kid hides and skins in GCC, comprising 60% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with a 30% share of total imports. It was followed by Kuwait, with an 8.7% share.

In the United Arab Emirates, goat hides and skins imports declined by an average annual rate of -5.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Saudi Arabia (+157.9% per year) and Kuwait (+40.4% per year).

Import Prices by Country

In 2021, the import price in GCC amounted to $X per ton, reducing by -32.9% against the previous year. In general, the import price, however, showed a significant expansion. The pace of growth appeared the most rapid in 2017 when the import price increased by 264% against the previous year. The level of import peaked at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+48.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform