Updated Nov 5, 2022 19:31

Market for Cattle Hide And Skin in Canada

Market Overview
Please note: Annual data for 2022 are preliminary and subject to revision
In , the Canadian cattle hide and skin market decreased by -% to $, falling for the third consecutive year after two years of growth. Over the period under review, consumption, however, enjoyed a modest expansion. Cattle hide and skin consumption peaked at $ in 2018; however, from 2019 to , consumption failed to regain momentum.

In value terms, cattle hide and skin production skyrocketed to $ in estimated in export price. Overall, production, however, saw a pronounced decrease. The most prominent rate of growth was recorded in 2010 when the production volume increased by %. Over the period under review, production attained the maximum level at $ in 2015; however, from 2016 to , production failed to regain momentum.

The average yield of raw hides and skins of cattle in Canada contracted to kg per head in , remaining relatively unchanged against . The yield figure increased at an average annual rate of +% over the period from 2007 to ; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of %. Over the period under review, the average cattle hide and skin yield attained the maximum level at kg per head in , and then contracted modestly in the following year.

In , approx. heads of animals slaughtered for cattle hide and skin production in Canada; leveling off at the previous year's figure. Overall, the number of producing animals, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2011 with an increase of % against the previous year. As a result, the number of producing animals attained the peak level of heads. From 2012 to , the growth of this number remained at a somewhat lower figure.


Consumption
Please note: Annual data for 2022 are preliminary and subject to revision
Cattle hide and skin consumption in Canada expanded slightly to tons in , surging by % compared with the previous year. In general, consumption enjoyed a perceptible expansion. Cattle hide and skin consumption peaked at tons in 2018; however, from 2019 to , consumption remained at a lower figure.

The revenue of the cattle hide and skin market in Canada reached $ in , with an increase of % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption saw slight growth. Cattle hide and skin consumption peaked at $ in 2018; however, from 2019 to , consumption remained at a lower figure.


Market Forecast
Please note: Annual data for 2022 are preliminary and subject to revision
Driven by increasing demand for cattle hide and skin in Canada, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .

In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
Please note: Annual data for 2022 are preliminary and subject to revision
In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.


Trade Balance
Please note: Annual data for 2022 are preliminary and subject to revision
Canada remains a net exporter of cattle hide and skin; in physical and value terms, exports consistently exceeded imports from 2007 to . In , there was a significant trade surplus of tons, which was equal to $. This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.