Updated Nov 5, 2022 19:37

Market for Cattle Hide And Skin in Greece

Market Overview
The Greek cattle hide and skin market contracted to $ in , which is down by -% 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). Over the period under review, consumption continues to indicate a abrupt decrease. Cattle hide and skin consumption peaked at $ in 2007; however, from 2008 to , consumption remained at a lower figure.

In value terms, cattle hide and skin production expanded rapidly to $ in estimated in export price. Over the period under review, production, however, showed a abrupt curtailment. The growth pace was the most rapid in 2010 when the production volume increased by % against the previous year. Cattle hide and skin production peaked at $ in 2013; however, from 2014 to , production remained at a lower figure.

In , the average yield of raw hides and skins of cattle in Greece stood at kg per head, increasing by % against the previous year. The yield figure increased at an average annual rate of +% from 2007 to ; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2014 when the yield increased by % against the previous year. Over the period under review, the average cattle hide and skin yield reached the maximum level at kg per head in 2019; however, from to , the yield stood at a somewhat lower figure.

In , number of animals slaughtered for cattle hide and skin production in Greece reduced modestly to heads, almost unchanged from . In general, the number of producing animals continues to indicate a abrupt decline. The most prominent rate of growth was recorded in 2017 when the number of producing animals increased by % against the previous year. Over the period under review, this number attained the maximum level at heads in 2007; however, from 2008 to , producing animals failed to regain momentum.


Consumption
For the fifth consecutive year, Greece recorded decline in consumption of raw hides and skins of cattle, which decreased by -% to tons in . Over the period under review, consumption showed a deep slump. Over the period under review, consumption attained the peak volume at tons in 2007; however, from 2008 to , consumption stood at a somewhat lower figure.

The value of the cattle hide and skin market in Greece fell to $ in , with a decrease 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). In general, consumption saw a drastic downturn. Over the period under review, the market reached the peak level at $ in 2007; however, from 2008 to , consumption stood at a somewhat lower figure.


Market Forecast
Depressed by shrinking demand for cattle hide and skin in Greece, the market is expected to continue its downward consumption trend over the next eight years. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to depress the market volume to tons by the end of .

In value terms, the market is forecast to contract 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
Over the period under review, imports of cattle hide and skin in Greece were negligibly small compared to the production volumes. Therefore, the share of imports in the total market was practically nonexistent, both in volume and in value terms. This situation has remained constant over the period under review, which means that domestic producers entirely meet the domestic demand for cattle hide and skin. The growth in the share of Greece imports of in the cattle hide and skin market structure from % in 2007 to % in is explained by a more substantial reduction in output, compared with a decrease in imports. 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
Greece 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.