Vietnam: Cows Skin Market 2024

Cows Skin Market Size in Vietnam

The Vietnamese cows skin market was finally on the rise to reach $X in 2021, after two years of decline. Over the period under review, consumption, however, saw a abrupt shrinkage. Cows skin consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Cows Skin Production in Vietnam

In value terms, cows skin production soared to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a abrupt setback. The growth pace was the most rapid in 2017 with an increase of 46%. Cows skin production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Cows Skin Exports

Exports from Vietnam

In 2021, approx. X tons of raw hides and skins of bovine animals were exported from Vietnam; rising by 5.7% on the previous year's figure. Over the period under review, exports recorded a significant increase. The most prominent rate of growth was recorded in 2016 when exports increased by 448% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, cows skin exports expanded remarkably to $X in 2021. Overall, exports enjoyed a resilient increase. The pace of growth appeared the most rapid in 2014 when exports increased by 315% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

Thailand (X tons) was the main destination for cows skin exports from Vietnam, accounting for a 48% share of total exports. Moreover, cows skin exports to Thailand exceeded the volume sent to the second major destination, China (X tons), threefold. Indonesia (X tons) ranked third in terms of total exports with a 16% share.

From 2012 to 2021, the average annual growth rate of volume to Thailand stood at +35.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+42.1% per year) and Indonesia (+61.3% per year).

In value terms, Thailand ($X) remains the key foreign market for raw hides and skins of bovine animals exports from Vietnam, comprising 46% of total exports. The second position in the ranking was held by China ($X), with an 18% share of total exports. It was followed by Indonesia, with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Thailand amounted to +29.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+32.2% per year) and Indonesia (+53.3% per year).

Export Prices by Country

The average cows skin export price stood at $X per ton in 2021, with an increase of 2.3% against the previous year. Over the period under review, the export price, however, saw a deep slump. The pace of growth appeared the most rapid in 2014 when the average export price increased by 30% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2021, 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 Taiwan (Chinese) ($X per ton), while the average price for exports to Hong Kong SAR ($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 Taiwan (Chinese) (+10.4%), while the prices for the other major destinations experienced mixed trend patterns.

Cows Skin Imports

Imports into Vietnam

In 2021, after two years of growth, there was significant decline in purchases abroad of raw hides and skins of bovine animals, when their volume decreased by -48.8% to X tons. In general, imports showed a deep contraction. The growth pace was the most rapid in 2014 when imports increased by 237% 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, cows skin imports fell sharply to $X in 2021. Over the period under review, imports saw a dramatic decrease. The pace of growth appeared the most rapid in 2014 when imports increased by 346% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

The United States (X tons), Argentina (X tons) and Mexico (X tons) were the main suppliers of cows skin imports to Vietnam, together accounting for 93% of total imports.

From 2012 to 2021, the biggest increases were recorded for Mexico (with a CAGR of +34.4%), while purchases for the other leaders experienced a decline.

In value terms, the United States ($X) constituted the largest supplier of raw hides and skins of bovine animals to Vietnam, comprising 65% of total imports. The second position in the ranking was held by Mexico ($X), with a 17% share of total imports. It was followed by Argentina, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States amounted to -21.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+16.9% per year) and Argentina (-29.1% per year).

Import Prices by Country

The average cows skin import price stood at $X per ton in 2021, which is down by -2% against the previous year. In general, the import price recorded a abrupt decrease. The most prominent rate of growth was recorded in 2014 an increase of 33% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average 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 Taiwan (Chinese) ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+3.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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