Malaysia: Market for Goat Or Kid Hides And Skins 2024

Market Size for Goat Or Kid Hides And Skins in Malaysia

In 2021, the Malaysian goat hides and skins market increased by 2.4% to $X, rising for the second consecutive year after five years of decline. Over the period under review, consumption, however, saw a abrupt decrease. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Production of Goat Or Kid Hides And Skins in Malaysia

In value terms, goat hides and skins production dropped to $X in 2021 estimated in export price. Overall, production continues to indicate a drastic downturn. The pace of growth appeared the most rapid in 2014 with an increase of 21%. As a result, production reached the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

The average yield of goat or kid hides and skins in Malaysia reduced to X kg per head in 2021, waning by -11.5% compared with 2020 figures. In general, the yield recorded a mild descent. The pace of growth was the most pronounced in 2019 when the yield increased by 9.6% against the previous year. As a result, the yield reached the peak level of X kg per head. From 2020 to 2021, the growth of the average goat hides and skins yield failed to regain momentum.

In 2021, approx. X heads of animals slaughtered for goat hides and skins production in Malaysia; surging by 4.6% compared with 2020 figures. Overall, the number of producing animals, however, showed a abrupt slump. The growth pace was the most rapid in 2018 with an increase of 12%. Over the period under review, this number attained the maximum level at X heads in 2012; however, from 2013 to 2021, producing animals failed to regain momentum.

Exports of Goat Or Kid Hides And Skins

Exports from Malaysia

In 2021, shipments abroad of goat or kid hides and skins decreased by -40.9% to X tons, falling for the second consecutive year after two years of growth. In general, exports faced a abrupt descent. The most prominent rate of growth was recorded in 2015 with an increase of 90%. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, goat hides and skins exports rose markedly to $X in 2021. Overall, exports continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2015 when exports increased by 76%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Singapore (X tons) was the main destination for goat hides and skins exports from Malaysia, with a 44% share of total exports. Moreover, goat hides and skins exports to Singapore exceeded the volume sent to the second major destination, Japan (X tons), twofold. Indonesia (X tons) ranked third in terms of total exports with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Singapore amounted to -1.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-5.1% per year) and Indonesia (-10.2% per year).

In value terms, Singapore ($X) remains the key foreign market for goat or kid hides and skins exports from Malaysia, comprising 69% of total exports. The second position in the ranking was taken by Japan ($X), with a 21% share of total exports. It was followed by Brazil, with a 4.7% share.

From 2012 to 2021, the average annual growth rate of value to Singapore totaled -4.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-4.8% per year) and Brazil (-15.1% per year).

Export Prices by Country

In 2021, the average goat hides and skins export price amounted to $X per ton, rising by 94% against the previous year. Overall, the export price, however, recorded a noticeable decline. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Indonesia ($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 Brazil (+12.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Goat Or Kid Hides And Skins

Imports into Malaysia

In 2021, after five years of decline, there was significant growth in overseas purchases of goat or kid hides and skins, when their volume increased by 13% to X tons. In general, imports, however, continue to indicate a drastic downturn. The pace of growth was the most pronounced in 2013 with an increase of 172%. Over the period under review, imports attained the maximum at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, goat hides and skins imports skyrocketed to $X in 2021. Over the period under review, imports, however, saw a noticeable decline. The most prominent rate of growth was recorded in 2013 with an increase of 228%. Over the period under review, imports reached the maximum at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of goat hides and skins to Malaysia, with a 66% share of total imports. Moreover, goat hides and skins imports from the United States exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), fivefold. Singapore (X tons) ranked third in terms of total imports with a 9.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States totaled +61.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (-20.0% per year) and Singapore (-10.6% per year).

In value terms, the United States ($X) constituted the largest supplier of goat or kid hides and skins to Malaysia, comprising 69% of total imports. The second position in the ranking was taken by Singapore ($X), with a 25% share of total imports. It was followed by Vietnam, with a 4.9% share.

From 2012 to 2021, the average annual growth rate of value from the United States amounted to +87.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+15.6% per year) and Vietnam (-14.4% per year).

Import Prices by Country

The average goat hides and skins import price stood at $X per ton in 2021, jumping by 81% against the previous year. Overall, the import price continues to indicate a resilient expansion. 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 Singapore ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+29.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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