Philippines: Sheep Leather Market 2024

Sheep Leather Market Size in the Philippines

The Philippine sheep leather market surged to $X in 2021, picking up by 20% against the previous year. Over the period under review, the total consumption indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +2.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -14.6% against 2019 indices. Sheep leather consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Sheep Leather Production in the Philippines

In value terms, sheep leather production soared to $X in 2021 estimated in export price. In general, the total production indicated a slight expansion from 2012 to 2021: its value increased at an average annual rate of +1.7% 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 -15.0% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 41%. Sheep leather production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Sheep Leather Exports

Exports from the Philippines

In 2021, exports of sheep or lamb skin leather from the Philippines totaled X square meters, remaining stable against the year before. Overall, exports showed a significant increase. The most prominent rate of growth was recorded in 2013 when exports increased by 1,098% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in the immediate term.

In value terms, sheep leather exports amounted to $X in 2021. In general, exports showed a significant increase. The pace of growth appeared the most rapid in 2013 with an increase of 1,975% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

Exports by Country

China (X square meters) was the main destination for sheep leather exports from the Philippines, with a 95% share of total exports. Moreover, sheep leather exports to China exceeded the volume sent to the second major destination, India (X square meters), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to China totaled +158.2%.

From 2012 to 2021, the average annual rate of growth in terms of value to China totaled +84.1%.

Export Prices by Country

In 2021, the average sheep leather export price amounted to $X per square meter, leveling off at the previous year. Overall, the export price showed a measured expansion. The most prominent rate of growth was recorded in 2013 an increase of 74%. As a result, the export price attained the peak level of $X per square meter. From 2014 to 2021, the average export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to India (+18.6%).

Sheep Leather Imports

Imports into the Philippines

Sheep leather imports into the Philippines skyrocketed to X square meters in 2021, jumping by 26% compared with the previous year's figure. In general, imports, however, showed a sharp curtailment. The growth pace was the most rapid in 2017 when imports increased by 556%. As a result, imports attained the peak of X square meters. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, sheep leather imports surged to $X in 2021. Overall, imports, however, showed a dramatic decrease. The growth pace was the most rapid in 2017 with an increase of 341%. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X square meters) constituted the largest supplier of sheep leather to the Philippines, accounting for a 67% share of total imports. Moreover, sheep leather imports from China exceeded the figures recorded by the second-largest supplier, Italy (X square meters), tenfold. The third position in this ranking was taken by Pakistan (X square meters), with a 4.7% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at -23.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-14.0% per year) and Pakistan (-8.8% per year).

In value terms, Italy ($X) constituted the largest supplier of sheep or lamb skin leather to the Philippines, comprising 35% of total imports. The second position in the ranking was taken by China ($X), with an 11% share of total imports. It was followed by the United States, with a 7.7% share.

From 2012 to 2021, the average annual growth rate of value from Italy totaled -17.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-32.1% per year) and the United States (-21.0% per year).

Import Prices by Country

In 2021, the average sheep leather import price amounted to $X per square meter, picking up by 11% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 an increase of 49%. The import price peaked at $X per square meter in 2016; however, from 2017 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 Italy ($X per square meter), while the price for China ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+16.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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