Philippines: Market for Goat Or Kid Hides And Skins 2024

Market Size for Goat Or Kid Hides And Skins in the Philippines

In 2021, the Philippine goat hides and skins market was finally on the rise to reach $X after six years of decline. Overall, consumption, however, showed a deep reduction. Goat hides and skins consumption peaked at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Production of Goat Or Kid Hides And Skins in the Philippines

In value terms, goat hides and skins production expanded notably to $X in 2021 estimated in export price. Overall, production, however, showed a abrupt slump. The pace of growth was the most pronounced in 2013 when the production volume increased by 24% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

The average yield of goat or kid hides and skins in the Philippines totaled X kg per head in 2021, therefore, remained relatively stable against 2020 figures. Overall, the yield showed a abrupt slump. The most prominent rate of growth was recorded in 2013 when the yield increased by 2.6%. As a result, the yield reached the peak level of X kg per head. From 2014 to 2021, the growth of the average goat hides and skins yield failed to regain momentum.

In 2021, the number of animals slaughtered for goat hides and skins production in the Philippines reached X heads, picking up by 1.5% on the previous year. Over the period under review, the number of producing animals continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 4.8% against the previous year. Over the period under review, this number hit record highs at X heads in 2018; however, from 2019 to 2021, producing animals remained at a lower figure.

Exports of Goat Or Kid Hides And Skins

Exports from the Philippines

In 2021, overseas shipments of goat or kid hides and skins increased by 3.2% to X tons for the first time since 2017, thus ending a three-year declining trend. In general, exports, however, recorded a abrupt downturn. The most prominent rate of growth was recorded in 2017 when exports increased by 30%. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, goat hides and skins exports contracted to $X in 2021. Overall, exports showed a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 327%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for goat hides and skins exports from the Philippines, with a 59% share of total exports. Moreover, goat hides and skins exports to China exceeded the volume sent to the second major destination, Singapore (X tons), threefold. The third position in this ranking was held by the UK (X tons), with a 9% share.

From 2012 to 2021, the average annual growth rate of volume to China totaled -17.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+49.6% per year) and the UK (+15.2% per year).

In value terms, Singapore ($X) remains the key foreign market for goat or kid hides and skins exports from the Philippines, comprising 94% of total exports. The second position in the ranking was taken by China ($X), with a 2.8% share of total exports. It was followed by Thailand, with a 1.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Singapore stood at +59.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-14.9% per year) and Thailand (+28.9% per year).

Export Prices by Country

The average goat hides and skins export price stood at $X per ton in 2021, dropping by -17.7% against the previous year. Overall, the export price, however, saw a significant increase. The most prominent rate of growth was recorded in 2018 an increase of 870%. The export price peaked at $X per ton in 2020, and then contracted markedly in the following year.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to China ($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 Taiwan (Chinese) (+43.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Goat Or Kid Hides And Skins

Imports into the Philippines

In 2021, approx. X tons of goat or kid hides and skins were imported into the Philippines; jumping by 45% compared with 2020 figures. In general, imports saw significant growth. The growth pace was the most rapid in 2015 with an increase of 21,415% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, goat hides and skins imports contracted to $X in 2021. Overall, imports recorded a resilient increase. The pace of growth appeared the most rapid in 2015 with an increase of 774% against the previous year. Imports peaked at $X in 2020, and then fell in the following year.

Imports by Country

Japan (X tons), Taiwan (Chinese) (X tons) and Uruguay (X tons) were the main suppliers of goat hides and skins imports to the Philippines, together accounting for 96% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Uruguay (with a CAGR of +80.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Uruguay ($X), Indonesia ($X) and Japan ($X) were the largest goat hides and skins suppliers to the Philippines, with a combined 56% share of total imports.

Uruguay, with a CAGR of +65.7%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average goat hides and skins import price amounted to $X per ton, which is down by -40.9% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 744%. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Indonesia ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+1.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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