Vietnam: Market for Raw Hides And Skins of Cattle 2024

Market Size for Raw Hides And Skins of Cattle in Vietnam

The Vietnamese cattle hide and skin market surged to $X in 2021, increasing by 16% against the previous year. Overall, consumption, however, saw a abrupt descent. Cattle hide and skin consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Raw Hides And Skins of Cattle in Vietnam

In value terms, cattle hide and skin production rose sharply to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a perceptible decline. The pace of growth appeared the most rapid in 2019 with an increase of 23%. Cattle hide and skin production peaked at $X in 2015; however, from 2016 to 2021, production remained at a lower figure.

In 2021, the average cattle hide and skin yield in Vietnam expanded markedly to X kg per head, with an increase of 7.4% against the year before. 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 throughout the analyzed period. The growth pace was the most rapid in 2017 when the yield increased by 19%. The cattle hide and skin yield peaked in 2021 and is expected to retain growth in the near future.

The number of animals slaughtered for cattle hide and skin production in Vietnam expanded significantly to X heads in 2021, with an increase of 7% compared with the year before. This number increased at an average annual rate of +1.5% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. As a result, the number of producing animals attained the peak level and is likely to continue growth in the immediate term.

Exports of Raw Hides And Skins of Cattle

Exports from Vietnam

In 2021, the amount of raw hides and skins of cattle exported from Vietnam dropped to X tons, waning by -6.8% compared with 2020 figures. Overall, exports, however, continue to indicate a strong increase. The pace of growth appeared the most rapid in 2014 with an increase of 2,044%. Over the period under review, the exports reached the maximum at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, cattle hide and skin exports shrank markedly to $X in 2021. Over the period under review, exports saw a perceptible decrease. The pace of growth appeared the most rapid in 2014 with an increase of 2,315% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Thailand (X tons) was the main destination for cattle hide and skin exports from Vietnam, with a 63% share of total exports. Moreover, cattle hide and skin exports to Thailand exceeded the volume sent to the second major destination, Indonesia (X tons), threefold. The third position in this ranking was held by Hong Kong SAR (X tons), with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Thailand stood at +24.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+288.2% per year) and Hong Kong SAR (-1.5% per year).

In value terms, Thailand ($X) remains the key foreign market for raw hides and skins of cattle exports from Vietnam, comprising 62% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 17% share of total exports. It was followed by Hong Kong SAR, with a 12% share.

From 2012 to 2021, the average annual growth rate of value to Thailand amounted to +20.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+170.0% per year) and Hong Kong SAR (-13.4% per year).

Export Prices by Country

The average cattle hide and skin export price stood at $X per ton in 2021, with a decrease of -29.7% against the previous year. In general, the export price recorded a abrupt curtailment. The pace of growth was the most pronounced in 2019 when the average export price increased by 15% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Lao People's Democratic Republic ($X per ton), while the average price for exports to Indonesia ($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 Thailand (-3.2%), while the prices for the other major destinations experienced a decline.

Imports of Raw Hides And Skins of Cattle

Imports into Vietnam

In 2021, supplies from abroad of raw hides and skins of cattle increased by 22% to X tons, rising for the second consecutive year after four years of decline. Over the period under review, imports, however, recorded a sharp descent. The growth pace was the most rapid in 2014 when imports increased by 115% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, cattle hide and skin imports skyrocketed to $X in 2021. Overall, imports, however, continue to indicate a sharp descent. The growth pace was the most rapid in 2014 when imports increased by 102% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Japan (X tons) constituted the largest supplier of cattle hide and skin to Vietnam, accounting for a 27% share of total imports. Moreover, cattle hide and skin imports from Japan exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. Thailand (X tons) ranked third in terms of total imports with a 9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Japan amounted to +15.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-34.4% per year) and Thailand (+22.2% per year).

In value terms, Japan ($X), New Zealand ($X) and the United States ($X) constituted the largest cattle hide and skin suppliers to Vietnam, together accounting for 50% of total imports. These countries were followed by Canada, Panama, Argentina, Thailand, Honduras, Nicaragua, Taiwan (Chinese), Italy and Brazil, which together accounted for a further 26%.

In terms of the main suppliers, Panama, with a CAGR of +1,201.3%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average cattle hide and skin import price amounted to $X per ton, picking up by 16% against the previous year. Overall, the import price, however, saw a pronounced decrease. The pace of growth appeared the most rapid in 2013 when the average import price increased by 32%. Over the period under review, average import prices reached the maximum at $X per ton in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Honduras ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+30.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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