Peru: Market for Leather of Bovine and Equine Animals 2025

Market Size for Leather of Bovine and Equine Animals in Peru

In 2021, after two years of decline, there was growth in the Peruvian bovine and equine leather market, when its value increased by 4.5% to $X. The market value increased at an average annual rate of +4.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Bovine and equine leather consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Production of Leather of Bovine and Equine Animals in Peru

In value terms, bovine and equine leather production rose to $X in 2021 estimated in export price. Overall, the total production indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +6.8% 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 -4.7% against 2016 indices. The growth pace was the most rapid in 2014 with an increase of 24% against the previous year. Bovine and equine leather production peaked at $X in 2016; however, from 2017 to 2021, production stood at a somewhat lower figure.

Exports of Leather of Bovine and Equine Animals

Exports from Peru

In 2021, exports of leather of bovine and equine animals from Peru shrank to X tons, waning by -11% against the year before. Over the period under review, exports continue to indicate a noticeable decline. The most prominent rate of growth was recorded in 2019 when exports increased by 68%. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, bovine and equine leather exports dropped slightly to $X in 2021. In general, total exports indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +3.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -31.7% against 2016 indices. The growth pace was the most rapid in 2014 with an increase of 35% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

Nigeria (X tons) was the main destination for bovine and equine leather exports from Peru, accounting for a 59% share of total exports. Moreover, bovine and equine leather exports to Nigeria exceeded the volume sent to the second major destination, Spain (X tons), fivefold. Chile (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to Nigeria was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (-17.3% per year) and Chile (+25.9% per year).

In value terms, the largest markets for bovine and equine leather exported from Peru were Nigeria ($X), Italy ($X) and Chile ($X), together accounting for 62% of total exports.

Italy, with a CAGR of +54.1%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average bovine and equine leather export price stood at $X per ton in 2021, growing by 9.2% against the previous year. Over the period under review, the export price continues to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2016 when the average export price increased by 47% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Nigeria ($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 the United States (+31.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Leather of Bovine and Equine Animals

Imports into Peru

In 2021, after two years of decline, there was significant growth in supplies from abroad of leather of bovine and equine animals, when their volume increased by 25% to X tons. Overall, imports, however, continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2015 with an increase of 49%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, bovine and equine leather imports stood at $X in 2021. In general, imports, however, showed a abrupt curtailment. The pace of growth appeared the most rapid in 2015 when imports increased by 22% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Chile (X tons), Mexico (X tons) and Colombia (X tons) were the main suppliers of bovine and equine leather imports to Peru, with a combined 54% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Mexico (with a CAGR of +21.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest bovine and equine leather suppliers to Peru were Mexico ($X), Chile ($X) and Brazil ($X), with a combined 60% share of total imports.

In terms of the main suppliers, Mexico, with a CAGR of +24.2%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average bovine and equine leather import price stood at $X per ton in 2021, falling by -13.4% against the previous year. Overall, the import price, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2014 an increase of 102%. The import price peaked at $X per ton in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bolivia (+12.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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