Portugal: Sheep Leather Market 2024

Sheep Leather Market Size in Portugal

The Portuguese sheep leather market surged to $X in 2021, growing by 24% against the previous year. In general, consumption showed a resilient increase. Sheep leather consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Sheep Leather Production in Portugal

In value terms, sheep leather production surged to $X in 2021 estimated in export price. Overall, production continues to indicate a prominent expansion. The pace of growth was the most pronounced in 2018 when the production volume increased by 42% against the previous year. 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 Portugal

After two years of decline, shipments abroad of sheep or lamb skin leather increased by 2,831% to X square meters in 2021. Over the period under review, exports, however, faced a deep downturn. Over the period under review, the exports attained the maximum at X square meters in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, sheep leather exports skyrocketed to $X in 2021. Overall, exports, however, showed a dramatic decline. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Spain (X square meters) was the main destination for sheep leather exports from Portugal, with a 95% share of total exports. It was followed by Slovakia (X square meters), with a 2.7% share of total exports. The third position in this ranking was taken by Italy (X square meters), with a 2% share.

From 2012 to 2021, the average annual growth rate of volume to Spain totaled -13.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (-8.6% per year) and Italy (+37.3% per year).

In value terms, Spain ($X) emerged as the key foreign market for sheep or lamb skin leather exports from Portugal, comprising 69% of total exports. The second position in the ranking was taken by Italy ($X), with a 20% share of total exports. It was followed by Slovakia, with a 9.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Spain stood at -14.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+62.3% per year) and Slovakia (-9.4% per year).

Export Prices by Country

The average sheep leather export price stood at $X per square meter in 2021, shrinking by -65.3% against the previous year. Overall, the export price showed a deep contraction. The pace of growth was the most pronounced in 2019 when the average export price increased by 167% against the previous year. Over the period under review, the average export prices hit record highs at $X per square meter in 2020, and then reduced rapidly in the following year.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was India ($X per square meter), while the average price for exports to Spain ($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 Italy (+18.2%), while the prices for the other major destinations experienced mixed trend patterns.

Sheep Leather Imports

Imports into Portugal

In 2021, purchases abroad of sheep or lamb skin leather increased by 65% to X square meters, rising for the fourth consecutive year after three years of decline. In general, imports posted a perceptible increase. The most prominent rate of growth was recorded in 2018 when imports increased by 107%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, sheep leather imports surged to $X in 2021. Over the period under review, imports posted a tangible expansion. The pace of growth appeared the most rapid in 2019 with an increase of 112% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, Spain (X square meters) constituted the largest sheep leather supplier to Portugal, accounting for a 86% share of total imports. Moreover, sheep leather imports from Spain exceeded the figures recorded by the second-largest supplier, Brazil (X square meters), more than tenfold. China (X square meters) ranked third in terms of total imports with a 5.4% share.

From 2012 to 2021, the average annual growth rate of volume from Spain stood at +73.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+86.9% per year) and China (+4.1% per year).

In value terms, Spain ($X) constituted the largest supplier of sheep or lamb skin leather to Portugal, comprising 80% of total imports. The second position in the ranking was held by Brazil ($X), with an 11% share of total imports. It was followed by China, with an 8.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Spain totaled +63.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+139.1% per year) and China (+26.8% per year).

Import Prices by Country

In 2021, the average sheep leather import price amounted to $X per square meter, picking up by 4.7% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of 40%. The import price peaked at $X per square meter in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Brazil ($X per square meter), while the price for Turkey ($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 Brazil (+27.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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