Singapore: Sheepskin And Lambskin Market 2024

Sheepskin And Lambskin Market Size in Singapore

In 2021, the Singaporean sheepskin and lambskin market was finally on the rise to reach $X after four years of decline. The market value increased at an average annual rate of +1.7% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. 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 Singapore

In value terms, sheepskin and lambskin production declined slightly to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a slight descent. The pace of growth was the most pronounced in 2017 when the production volume increased by 19% against the previous year. Sheepskin and lambskin production peaked at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

In 2021, the average yield of sheep or lamb skins (without wool) in Singapore rose markedly to X kg per head, picking up by 14% against the previous year. The yield figure increased at an average annual rate of +4.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2016 with an increase of 25% against the previous year. As a result, the yield attained 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.

The number of animals slaughtered for sheepskin and lambskin production in Singapore totaled X head in 2021, therefore, remained relatively stable against the year before. Overall, the number of producing animals saw a slight downturn. The pace of growth was the most pronounced in 2017 with an increase of 11%. Over the period under review, this number attained the peak level at X heads in 2013; however, from 2014 to 2021, producing animals remained at a lower figure.

Sheepskin And Lambskin Exports

Exports from Singapore

In 2021, shipments abroad of sheep or lamb skins (without wool) increased by 160% to X kg for the first time since 2016, thus ending a four-year declining trend. In general, exports, however, saw a sharp decline. The most prominent rate of growth was recorded in 2016 when exports increased by 512% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, sheepskin and lambskin exports soared to $X in 2021. Overall, exports, however, continue to indicate a precipitous decrease. The pace of growth appeared the most rapid in 2016 when exports increased by 432%. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Hong Kong SAR (X kg) was the main destination for sheepskin and lambskin exports from Singapore, with a 66% share of total exports. Moreover, sheepskin and lambskin exports to Hong Kong SAR exceeded the volume sent to the second major destination, India (X kg), twofold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Hong Kong SAR amounted to -38.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-4.3% per year) and Malaysia (-31.8% per year).

In value terms, Hong Kong SAR ($X), India ($X) and Malaysia ($X) constituted the largest markets for sheepskin and lambskin exported from Singapore worldwide, together comprising 95% of total exports.

In terms of the main countries of destination, India, with a CAGR of -17.0%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average sheepskin and lambskin export price stood at $X per ton in 2021, with a decrease of -20.4% against the previous year. Overall, the export price recorded a abrupt slump. The most prominent rate of growth was recorded in 2015 when the average export price increased by 1.3% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Hong Kong SAR ($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 (-8.6%), while the prices for the other major destinations experienced a decline.

Sheepskin And Lambskin Imports

Imports into Singapore

Sheepskin and lambskin imports into Singapore shrank to X tons in 2021, falling by -4.2% against the year before. Over the period under review, imports continue to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2016 with an increase of 824%. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, sheepskin and lambskin imports surged to $X in 2021. Overall, imports recorded a deep slump. The most prominent rate of growth was recorded in 2016 with an increase of 85%. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Myanmar (X tons) was the main sheepskin and lambskin supplier to Singapore, accounting for a 98% share of total imports. It was followed by Thailand (X kg), with a 1.2% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from Myanmar totaled +7.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-38.5% per year) and Italy (-54.7% per year).

In value terms, Myanmar ($X) constituted the largest supplier of sheep or lamb skins (without wool) to Singapore, comprising 45% of total imports. The second position in the ranking was held by Thailand ($X), with a 16% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Myanmar totaled +4.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-28.8% per year) and Italy (-33.4% per year).

Import Prices by Country

The average sheepskin and lambskin import price stood at $X per ton in 2021, rising by 29% against the previous year. In general, the import price, however, showed a noticeable decline. The pace of growth was the most pronounced in 2018 when the average import price increased by 306% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+201.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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