Republic of Korea: Sheepskin And Lambskin Market 2024

Sheepskin And Lambskin Market Size in Republic of Korea

The South Korean sheepskin and lambskin market soared to $X in 2022, increasing by 1,028% against the previous year. Over the period under review, consumption recorded a buoyant expansion. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Sheepskin And Lambskin Production in Republic of Korea

In value terms, sheepskin and lambskin production reduced to $X in 2022 estimated in export price. Overall, production posted a significant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 5,287% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

In 2022, the average sheepskin and lambskin yield in South Korea surged to X kg per head, picking up by 10,163% on the year before. In general, the yield enjoyed a significant increase. As a result, the yield attained the peak level and is likely to continue growth in the immediate term.

In 2022, the number of animals slaughtered for sheepskin and lambskin production in South Korea reached X head, growing by 6% against the previous year's figure. Overall, the number of producing animals, however, saw a deep slump. The pace of growth was the most pronounced in 2017 when the number of producing animals increased by 57%. Over the period under review, this number reached the peak level at X head in 2015; however, from 2016 to 2022, producing animals stood at a somewhat lower figure.

Sheepskin And Lambskin Exports

Exports from Republic of Korea

In 2022, overseas shipments of sheep or lamb skins (without wool) increased by 34% to X kg, rising for the second consecutive year after two years of decline. Over the period under review, exports, however, saw a abrupt slump. The most prominent rate of growth was recorded in 2021 when exports increased by 234% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, sheepskin and lambskin exports soared to $X in 2022. Overall, exports posted a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 249% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in years to come.

Exports by Country

The Philippines (X kg) was the main destination for sheepskin and lambskin exports from South Korea, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Philippines amounted to +16.0%.

In value terms, the Philippines ($X) also remains the key foreign market for sheep or lamb skins (without wool) exports from South Korea.

From 2012 to 2022, the average annual growth rate of value to the Philippines amounted to +16.5%.

Export Prices by Country

The average sheepskin and lambskin export price stood at $X per ton in 2022, waning by -2.7% against the previous year. Over the period under review, the export price, however, saw a significant increase. The most prominent rate of growth was recorded in 2013 when the average export price increased by 6.9% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then reduced in the following year.

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

From 2012 to 2022, the rate of growth in terms of prices for Poland amounted to +42.4% per year.

Sheepskin And Lambskin Imports

Imports into Republic of Korea

In 2022, sheepskin and lambskin imports into South Korea skyrocketed to X tons, rising by 23% on the year before. In general, imports, however, continue to indicate a abrupt decrease. The growth pace was the most rapid in 2019 when imports increased by 925% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, sheepskin and lambskin imports expanded slightly to $X in 2022. Over the period under review, imports, however, continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2017 with an increase of 110% against the previous year. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Turkey (X tons) constituted the largest sheepskin and lambskin supplier to South Korea, with a 86% share of total imports. Moreover, sheepskin and lambskin imports from Turkey exceeded the figures recorded by the second-largest supplier, Italy (X kg), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from Turkey totaled +23.6%.

In value terms, Italy ($X) constituted the largest supplier of sheep or lamb skins (without wool) to South Korea, comprising 44% of total imports. The second position in the ranking was taken by Turkey ($X), with an 11% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Italy totaled +7.3%.

Import Prices by Country

In 2022, the average sheepskin and lambskin import price amounted to $X per ton, waning by -15.2% against the previous year. Overall, the import price recorded a perceptible setback. The pace of growth was the most pronounced in 2020 when the average import price increased by 253%. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Turkey amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+23.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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