Updated Nov 5, 2022 19:46

Market for Cattle Hide And Skin in Norway

Market Overview
Please note: Annual data for 2022 are preliminary and subject to revision
The Norwegian cattle hide and skin market fell markedly to $ in , declining 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). Overall, consumption recorded a abrupt downturn. 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 soared to $ in estimated in export price. Over the period under review, production, however, continues to indicate a noticeable shrinkage. The pace of growth appeared the most rapid in 2011 when the production volume increased by %. Over the period under review, production hit record highs at $ in 2014; however, from 2015 to , production remained at a lower figure.

In , the average yield of raw hides and skins of cattle in Norway reduced slightly to kg per head, stabilizing at . The yield figure increased at an average annual rate of +% over the period from 2007 to ; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2014 with an increase of % against the previous year. The cattle hide and skin yield peaked at kg per head in 2016; however, from 2017 to , the yield remained at a lower figure.

In , number of animals slaughtered for cattle hide and skin production in Norway was estimated at heads, leveling off at the year before. Over the period under review, the number of producing animals, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of %. Over the period under review, this number attained the peak level at heads in 2008; however, from 2009 to , producing animals failed to regain momentum.


Consumption
Please note: Annual data for 2022 are preliminary and subject to revision
For the third consecutive year, Norway recorded decline in consumption of raw hides and skins of cattle, which decreased by -% to tons in . Over the period under review, consumption faced a abrupt descent. Cattle hide and skin consumption peaked 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 Norway reduced to $ in , declining 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). Overall, consumption faced a abrupt shrinkage. Over the period under review, the market attained the maximum level at $ in 2007; however, from 2008 to , consumption stood at a somewhat lower figure.


Market Forecast
Please note: Annual data for 2022 are preliminary and subject to revision
Depressed by shrinking demand for cattle hide and skin in Norway, 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
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
Norway 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.