Philippines: Sheepskin And Lambskin Market 2024

Sheepskin And Lambskin Market Size in the Philippines

The Philippine sheepskin and lambskin market skyrocketed to $X in 2021, jumping by 103% against the previous year. Overall, consumption showed a strong expansion. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Sheepskin And Lambskin Production in the Philippines

In value terms, sheepskin and lambskin production rose modestly to $X in 2021 estimated in export price. Over the period under review, production posted a strong expansion. The pace of growth was the most pronounced in 2018 with an increase of 1,428% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

In 2021, the average yield of sheep or lamb skins (without wool) in the Philippines was estimated at X kg per head, remaining stable against 2020. In general, the yield continues to indicate a relatively flat trend pattern. The sheepskin and lambskin yield peaked in 2021 and is expected to retain growth in the near future.

The number of animals slaughtered for sheepskin and lambskin production in the Philippines fell slightly to X heads in 2021, almost unchanged from the previous year's figure. Overall, the number of producing animals saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the number of producing animals decreased by less than 0.1% against the previous year. The number of animals slaughtered for sheepskin and lambskin production peaked at X heads in 2013; afterwards, it flattened through to 2021.

Sheepskin And Lambskin Exports

Exports from the Philippines

In 2021, after three years of decline, there was decline in overseas shipments of sheep or lamb skins (without wool), when their volume decreased by 0% to X kg. Overall, exports saw a abrupt slump. The smallest decline of -92.9% was in 2018. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, sheepskin and lambskin exports stood at $X in 2021. Over the period under review, exports showed a abrupt decrease. The pace of growth was the most pronounced in 2018 when exports increased by 144% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The UK (X kg) was the main destination for sheepskin and lambskin exports from the Philippines, accounting for a approx. 46% share of total exports.

From 2013 to 2021, the average annual growth rate of volume to the UK was relatively modest.

From 2013 to 2021, the average annual rate of growth in terms of value to the UK was relatively modest.

Export Prices by Country

The average sheepskin and lambskin export price stood at $X per ton in 2021, approximately equating the previous year. Over the period under review, the export price showed a deep contraction. The pace of growth appeared the most rapid in 2018 an increase of 3,309% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for the UK.

From 2013 to 2021, the rate of growth in terms of prices for the UK amounted to 0.0% per year.

Sheepskin And Lambskin Imports

Imports into the Philippines

In 2021, supplies from abroad of sheep or lamb skins (without wool) increased by 373% to X tons, rising for the second consecutive year after four years of decline. Over the period under review, imports showed significant growth. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, sheepskin and lambskin imports surged to $X in 2021. Overall, imports enjoyed prominent growth. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), South Korea (X tons) and the UK (X kg) were the main suppliers of sheepskin and lambskin imports to the Philippines, together comprising 97% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the UK (with a CAGR of +660.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of sheep or lamb skins (without wool) to the Philippines, comprising 56% of total imports. The second position in the ranking was held by South Korea ($X), with a 24% share of total imports. It was followed by Italy, with a 5.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +97.4%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+13.0% per year) and Italy (-20.3% per year).

Import Prices by Country

The average sheepskin and lambskin import price stood at $X per ton in 2021, with a decrease of -5% against the previous year. Overall, the import price saw a abrupt contraction. The pace of growth was the most pronounced in 2017 when the average import price increased by 43% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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 ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+4.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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