Southern Asia: Leather Market 2022

Leather Market Size in Southern Asia

The South Asian leather market reduced to $X in 2021, flattening at the previous year. Overall, consumption continues to indicate a pronounced slump. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Leather Production in Southern Asia

In value terms, leather production stood at $X in 2021 estimated in export price. Over the period under review, production showed a pronounced descent. The growth pace was the most rapid in 2014 when the production volume increased by 6.3%. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

Leather Exports

Exports in Southern Asia

After seven years of decline, shipments abroad of leather increased by 46% to X tons in 2021. In general, exports, however, recorded a noticeable decrease. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, leather exports skyrocketed to $X in 2021. Overall, exports, however, continue to indicate a deep contraction. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

India was the largest exporter of leather in Southern Asia, with the volume of exports reaching X tons, which was near 52% of total exports in 2021. Bangladesh (X tons) ranks second in terms of the total exports with a 30% share, followed by Pakistan (13%). The following exporters - Nepal (X tons) and Afghanistan (X tons) - together made up 4.9% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Afghanistan (with a CAGR of +30.7%), while the other leaders experienced a decline in the exports figures.

In value terms, India ($X) remains the largest leather supplier in Southern Asia, comprising 62% of total exports. The second position in the ranking was held by Pakistan ($X), with a 21% share of total exports. It was followed by Bangladesh, with a 16% share.

In India, leather exports shrank by an average annual rate of -11.0% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Pakistan (-11.3% per year) and Bangladesh (-9.6% per year).

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per ton, which is down by -18.9% against the previous year. Over the period under review, the export price showed a abrupt setback. The most prominent rate of growth was recorded in 2014 when the export price increased by 8.3% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Pakistan ($X per ton), while Nepal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Pakistan (-3.8%), while the other leaders experienced a decline in the export price figures.

Leather Imports

Imports in Southern Asia

In 2021, the amount of leather imported in Southern Asia reduced to X tons, declining by -10.3% compared with 2020. Total imports indicated a modest increase from 2012 to 2021: its volume increased at an average annual rate of +1.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -38.1% against 2019 indices. The pace of growth appeared the most rapid in 2019 with an increase of 31%. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, leather imports reached $X in 2021. Overall, imports continue to indicate a mild slump. The pace of growth was the most pronounced in 2014 when imports increased by 25%. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, India (X tons) represented the major importer of leather, achieving 80% of total imports. Bangladesh (X tons) took a 13% share (based on physical terms) of total imports, which put it in second place, followed by Pakistan (4.8%).

From 2012 to 2021, average annual rates of growth with regard to leather imports into India stood at +1.5%. At the same time, Bangladesh (+11.4%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +11.4% from 2012-2021. By contrast, Pakistan (-7.1%) illustrated a downward trend over the same period. While the share of Bangladesh (+7.5 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Pakistan (-6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported leather in Southern Asia, comprising 66% of total imports. The second position in the ranking was taken by Bangladesh ($X), with a 28% share of total imports.

In India, leather imports contracted by an average annual rate of -3.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Bangladesh (+8.9% per year) and Pakistan (-9.6% per year).

Import Prices by Country

In 2021, the import price in Southern Asia amounted to $X per ton, with an increase of 12% against the previous year. Over the period under review, the import price, however, showed a noticeable downturn. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Bangladesh ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bangladesh (-2.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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