Japan: Market for Leather of Bovine and Equine Animals 2025

Market Size for Leather of Bovine and Equine Animals in Japan

For the fifth consecutive year, the Japanese bovine and equine leather market recorded decline in sales value, which decreased by -0.1% to $X in 2021. Overall, consumption recorded a abrupt decline. Bovine and equine leather consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Leather of Bovine and Equine Animals in Japan

In value terms, bovine and equine leather production totaled $X in 2021 estimated in export price. In general, production showed a perceptible curtailment. The most prominent rate of growth was recorded in 2016 with an increase of 6.7%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Leather of Bovine and Equine Animals

Exports from Japan

In 2021, the amount of leather of bovine and equine animals exported from Japan skyrocketed to X tons, with an increase of 34% on the year before. Over the period under review, exports, however, recorded a abrupt downturn. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, bovine and equine leather exports skyrocketed to $X in 2021. Overall, exports, however, continue to indicate a drastic downturn. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

China (X tons), Vietnam (X tons) and the Philippines (X tons) were the main destinations of bovine and equine leather exports from Japan, with a combined 69% share of total exports. These countries were followed by Hong Kong SAR, Thailand, Taiwan (Chinese), Cambodia, Indonesia and South Korea, which together accounted for a further 29%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Taiwan (Chinese) (with a CAGR of +27.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for bovine and equine leather exported from Japan were China ($X), Vietnam ($X) and the Philippines ($X), together accounting for 68% of total exports. These countries were followed by Thailand, Hong Kong SAR, Cambodia, South Korea, Indonesia and Taiwan (Chinese), which together accounted for a further 28%.

In terms of the main countries of destination, Cambodia, with a CAGR of +18.7%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average bovine and equine leather export price amounted to $X per ton, waning by -12.6% against the previous year. Overall, the export price recorded a mild decline. The most prominent rate of growth was recorded in 2018 when the average export price increased by 12%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Cambodia ($X per ton), while the average price for exports to Taiwan (Chinese) ($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 South Korea (+12.0%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Leather of Bovine and Equine Animals

Imports into Japan

After six years of decline, purchases abroad of leather of bovine and equine animals increased by 7.2% to X tons in 2021. Over the period under review, imports, however, recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2014 with an increase of 32%. 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, bovine and equine leather imports skyrocketed to $X in 2021. Overall, imports, however, showed a abrupt setback. Imports peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Mexico (X tons) constituted the largest bovine and equine leather supplier to Japan, accounting for a 46% share of total imports. Moreover, bovine and equine leather imports from Mexico exceeded the figures recorded by the second-largest supplier, Italy (X tons), fourfold. Australia (X tons) ranked third in terms of total imports with an 8.4% share.

From 2012 to 2021, the average annual growth rate of volume from Mexico stood at +27.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-1.0% per year) and Australia (-9.9% per year).

In value terms, Mexico ($X), Italy ($X) and Bangladesh ($X) were the largest bovine and equine leather suppliers to Japan, with a combined 71% share of total imports.

Mexico, with a CAGR of +23.1%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average bovine and equine leather import price stood at $X per ton in 2021, picking up by 24% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.9%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Australia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+19.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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