Mexico: Sheep Leather Market 2024

Sheep Leather Market Size in Mexico

In 2021, the Mexican sheep leather market increased by 13% to $X for the first time since 2018, thus ending a two-year declining trend. In general, the total consumption indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -14.9% against 2018 indices. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Sheep Leather Production in Mexico

In value terms, sheep leather production expanded notably to $X in 2021 estimated in export price. Over the period under review, the total production indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +4.7% 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 -17.8% against 2018 indices. The pace of growth appeared the most rapid in 2017 when the production volume increased by 40% against the previous year. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Sheep Leather Exports

Exports from Mexico

In 2021, sheep leather exports from Mexico surged to X square meters, rising by 119% on the previous year's figure. Overall, exports, however, continue to indicate a perceptible decline. Over the period under review, the exports reached the peak figure at X square meters in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, sheep leather exports soared to $X in 2021. In general, exports, however, showed a deep downturn. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Brazil (X square meters) was the main destination for sheep leather exports from Mexico, accounting for a 100% share of total exports. It was followed by Italy (X square meters), with a 0.2% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Brazil stood at +6.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (-19.4% per year) and Spain (-62.9% per year).

In value terms, Brazil ($X) remains the key foreign market for sheep or lamb skin leather exports from Mexico, comprising 97% of total exports. The second position in the ranking was taken by Italy ($X), with a 0.7% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Brazil stood at +5.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (-13.9% per year) and Spain (-59.1% per year).

Export Prices by Country

The average sheep leather export price stood at $X per square meter in 2021, declining by -26.2% against the previous year. Over the period under review, the export price recorded a mild decrease. The growth pace was the most rapid in 2015 an increase of 62%. As a result, the export price attained the peak level of $X per square meter. From 2016 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per square meter), while the average price for exports to Brazil ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+10.5%), while the prices for the other major destinations experienced mixed trend patterns.

Sheep Leather Imports

Imports into Mexico

After three years of decline, overseas purchases of sheep or lamb skin leather increased by 971% to X square meters in 2021. Overall, imports, however, recorded a perceptible shrinkage. Over the period under review, imports reached the maximum at X square meters in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, sheep leather imports skyrocketed to $X in 2021. In general, imports, however, continue to indicate a deep contraction. Over the period under review, imports reached the peak figure at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Spain (X square meters) constituted the largest supplier of sheep leather to Mexico, with a 32% share of total imports. Moreover, sheep leather imports from Spain exceeded the figures recorded by the second-largest supplier, the United States (X square meters), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Spain amounted to +34.4%.

In value terms, Spain ($X) constituted the largest supplier of sheep or lamb skin leather to Mexico, comprising 48% of total imports. The second position in the ranking was taken by the United States ($X), with a 4.2% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Spain stood at +33.8%.

Import Prices by Country

In 2021, the average sheep leather import price amounted to $X per square meter, which is down by -54.1% against the previous year. Overall, the import price saw a pronounced curtailment. The growth pace was the most rapid in 2020 when the average import price increased by 182% against the previous year. As a result, import price attained the peak level of $X per square meter, and then fell rapidly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per square meter), while the price for Spain totaled $X per square meter.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+14.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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