Republic of Korea: Sheepskin And Lambskin Market 2024

Sheepskin And Lambskin Market Size in Republic of Korea

The South Korean sheepskin and lambskin market reached $X in 2021, surging by 3.6% against the previous year. Overall, consumption, however, continues to indicate a precipitous shrinkage. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Sheepskin And Lambskin Production in Republic of Korea

In value terms, sheepskin and lambskin production soared to $X in 2021 estimated in export price. Overall, production continues to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2017 when the production volume increased by 74%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

In 2021, the average yield of sheep or lamb skins (without wool) in South Korea amounted to X kg per head, remaining constant against the year before. Over the period under review, the yield showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the yield increased by 3.3%. As a result, the yield reached the peak level of X kg per head. From 2017 to 2021, the growth of the average sheepskin and lambskin yield remained at a lower figure.

In 2021, number of animals slaughtered for sheepskin and lambskin production in South Korea reduced to X head, which is down by -10.7% against the previous year's figure. In general, the number of producing animals continues to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2017 with an increase of 57%. The number of animals slaughtered for sheepskin and lambskin production peaked at X head in 2015; however, from 2016 to 2021, producing animals remained at a lower figure.

Sheepskin And Lambskin Exports

Exports from Republic of Korea

In 2021, the amount of sheep or lamb skins (without wool) exported from South Korea rose significantly to X tons, surging by 14% compared with the year before. In general, exports, however, continue to indicate a noticeable descent. The pace of growth appeared the most rapid in 2015 with an increase of 582%. Over the period under review, the exports reached the maximum at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, sheepskin and lambskin exports dropped rapidly to $X in 2021. Over the period under review, exports, however, recorded a pronounced shrinkage. The pace of growth was the most pronounced in 2015 when exports increased by 304%. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

Pakistan (X tons) was the main destination for sheepskin and lambskin exports from South Korea, with a 63% share of total exports. Moreover, sheepskin and lambskin exports to Pakistan exceeded the volume sent to the second major destination, Indonesia (X tons), fivefold. China (X tons) ranked third in terms of total exports with a 9.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Pakistan stood at +41.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+49.5% per year) and China (+32.1% per year).

In value terms, Indonesia ($X) emerged as the key foreign market for sheep or lamb skins (without wool) exports from South Korea, comprising 44% of total exports. The second position in the ranking was taken by the Philippines ($X), with a 19% share of total exports. It was followed by Thailand, with a 14% share.

From 2012 to 2021, the average annual growth rate of value to Indonesia amounted to +58.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+30.3% per year) and Thailand (-1.1% per year).

Export Prices by Country

The average sheepskin and lambskin export price stood at $X per ton in 2021, falling by -43.5% against the previous year. Over the period under review, the export price showed a pronounced descent. The most prominent rate of growth was recorded in 2018 when the average export price increased by 84%. Over the period under review, the average export prices attained the maximum at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

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 the Philippines ($X per ton), while the average price for exports to Pakistan ($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 Hong Kong SAR (+263.1%), while the prices for the other major destinations experienced more modest paces of growth.

Sheepskin And Lambskin Imports

Imports into Republic of Korea

In 2021, supplies from abroad of sheep or lamb skins (without wool) increased by 7.7% to X tons, rising for the second year in a row after five years of decline. In general, imports, however, continue to indicate a dramatic downturn. The most prominent rate of growth was recorded in 2014 when imports increased by 38% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, sheepskin and lambskin imports stood at $X in 2021. Overall, imports, however, faced a precipitous shrinkage. The pace of growth appeared the most rapid in 2014 when imports increased by 27% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

New Zealand (X tons), China (X tons) and the United States (X tons) were the main suppliers of sheepskin and lambskin imports to South Korea, together comprising 66% 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 United States (with a CAGR of +201.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, New Zealand ($X), Tunisia ($X) and Turkey ($X) were the largest sheepskin and lambskin suppliers to South Korea, together accounting for 72% of total imports. China, Syrian Arab Republic, the United States, Iran and Australia lagged somewhat behind, together comprising a further 27%.

The United States, with a CAGR of +134.1%, 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

The average sheepskin and lambskin import price stood at $X per ton in 2021, waning by -6.1% against the previous year. In general, the import price continues to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 an increase of 8.9%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Tunisia ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Syrian Arab Republic (+3.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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