GCC: Sheep Leather Market 2024

Sheep Leather Market Size in GCC

The GCC sheep leather market soared to $X in 2021, growing by 17% against the previous year. The total consumption indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +7.5% 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 decreased by -4.0% against 2019 indices. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Sheep Leather Production in GCC

In value terms, sheep leather production surged to $X in 2021 estimated in export price. Overall, production, however, recorded a noticeable reduction. The growth pace was the most rapid in 2018 with an increase of 18% against the previous year. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Sheep Leather Exports

Exports in GCC

In 2021, overseas shipments of sheep or lamb skin leather were finally on the rise to reach X square meters after two years of decline. In general, exports, however, recorded a deep downturn. The pace of growth appeared the most rapid in 2017 when exports increased by 40%. The volume of export peaked at X square meters in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, sheep leather exports totaled $X in 2021. Overall, exports, however, faced a abrupt descent. The pace of growth was the most pronounced in 2017 with an increase of 21%. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Saudi Arabia (X square meters) represented the key exporter of sheep or lamb skin leather, mixing up 77% of total exports. It was distantly followed by the United Arab Emirates (X square meters), generating a 22% share of total exports.

Exports from Saudi Arabia decreased at an average annual rate of -10.0% from 2012 to 2021. At the same time, the United Arab Emirates (+3.7%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in GCC, with a CAGR of +3.7% from 2012-2021. From 2012 to 2021, the share of the United Arab Emirates increased by +15 percentage points.

In value terms, Saudi Arabia ($X) remains the largest sheep leather supplier in GCC, comprising 81% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with an 18% share of total exports.

In Saudi Arabia, sheep leather exports contracted by an average annual rate of -14.8% over the period from 2012-2021.

Export Prices by Country

The export price in GCC stood at $X per square meter in 2021, declining by -14% against the previous year. Over the period under review, the export price saw a deep reduction. The most prominent rate of growth was recorded in 2016 an increase of 26%. Over the period under review, the export prices attained the maximum at $X per square meter in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (-5.3%).

Sheep Leather Imports

Imports in GCC

In 2021, purchases abroad of sheep or lamb skin leather was finally on the rise to reach X square meters for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports, however, continue to indicate a deep setback. Over the period under review, imports attained the maximum at X square meters in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, sheep leather imports skyrocketed to $X in 2021. Overall, imports, however, saw a deep setback. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

The United Arab Emirates prevails in imports structure, accounting for X square meters, which was near 96% of total imports in 2021. Oman (X square meters) took a little share of total imports.

Imports into the United Arab Emirates decreased at an average annual rate of -8.0% from 2012 to 2021. At the same time, Oman (+31.6%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in GCC, with a CAGR of +31.6% from 2012-2021. From 2012 to 2021, the share of the United Arab Emirates and Oman increased by +41 and +3.4 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported sheep or lamb skin leather in GCC, comprising 93% of total imports. The second position in the ranking was held by Oman ($X), with a 5.7% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in the United Arab Emirates stood at -17.0%.

Import Prices by Country

In 2021, the import price in GCC amounted to $X per square meter, growing by 31% against the previous year. Over the period under review, the import price, however, continues to indicate a drastic downturn. The pace of growth appeared the most rapid in 2017 when the import price increased by 105% against the previous year. The level of import peaked at $X per square meter 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 Oman ($X per square meter), while the United Arab Emirates stood at $X per square meter.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+1.5%).

Source: IndexBox Platform