United Kingdom: Artificial Fur Market 2024

Artificial Fur Market Size in the UK

In 2022, the UK artificial fur market increased by 36% to $X, rising for the second consecutive year after two years of decline. In general, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Artificial Fur Production in the UK

In value terms, artificial fur production reached $X in 2022 estimated in export price. Overall, the total production indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.7% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of 33%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Artificial Fur Exports

Exports from the UK

In 2022, after two years of growth, there was significant decline in overseas shipments of artificial fur, when their volume decreased by -74.7% to X tons. Overall, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when exports increased by 112%. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, artificial fur exports shrank significantly to $X in 2022. Over the period under review, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 80% against the previous year. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Ireland (X tons) was the main destination for artificial fur exports from the UK, accounting for a 40% share of total exports. Moreover, artificial fur exports to Ireland exceeded the volume sent to the second major destination, Germany (X kg), fivefold. The third position in this ranking was held by the Netherlands (X kg), with a 6.5% share.

From 2012 to 2022, the average annual growth rate of volume to Ireland stood at +14.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+26.4% per year) and the Netherlands (+22.6% per year).

In value terms, Ireland ($X) remains the key foreign market for artificial fur exports from the UK, comprising 34% of total exports. The second position in the ranking was held by the United States ($X), with a 15% share of total exports. It was followed by Germany, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Ireland stood at +4.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+12.7% per year) and Germany (+30.2% per year).

Export Prices by Country

The average artificial fur export price stood at $X per ton in 2022, growing by 7.4% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 an increase of 79%. Over the period under review, the average export prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+13.1%), while the prices for the other major destinations experienced more modest paces of growth.

Artificial Fur Imports

Imports into the UK

In 2022, the amount of artificial fur imported into the UK declined significantly to X tons, shrinking by -24.7% on 2021 figures. In general, imports continue to indicate a pronounced curtailment. The pace of growth was the most pronounced in 2014 with an increase of 93%. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, artificial fur imports shrank to $X in 2022. Over the period under review, imports saw a perceptible contraction. The growth pace was the most rapid in 2014 with an increase of 70%. Over the period under review, imports reached the peak figure at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) was the main supplier of artificial fur to the UK, accounting for a 96% share of total imports. It was followed by Hungary (X kg), with a 0.1% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China was relatively modest.

In value terms, China ($X) constituted the largest supplier of artificial fur to the UK, comprising 72% of total imports. The second position in the ranking was held by Hungary ($X), with a 0.2% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at -2.7%.

Import Prices by Country

In 2022, the average artificial fur import price amounted to $X per ton, surging by 16% against the previous year. Over the period under review, the import price, however, saw a slight decline. The pace of growth was the most pronounced in 2013 an increase of 19%. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average 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 Hungary ($X per ton), while the price for China stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+3.1%).

Source: IndexBox Platform

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