Updated Nov 5, 2022 19:52

Market for Cattle Hide And Skin in Spain

Market Overview
Please note: Annual data for 2022 are preliminary and subject to revision
The Spanish cattle hide and skin market fell notably 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). In general, consumption saw a perceptible contraction. As a result, consumption reached the peak level of $. From 2017 to , the growth of the market remained at a lower figure.

In value terms, cattle hide and skin production totaled $ in estimated in export price. Over the period under review, production saw a mild descent. The pace of growth was the most pronounced in 2010 with an increase of % against the previous year. Over the period under review, production reached the peak level at $ in 2014; however, from 2015 to , production stood at a somewhat lower figure.

The average yield of raw hides and skins of cattle in Spain reduced to kg per head in , which is down by -% on the year before. In general, the yield, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008 when the yield increased by %. Over the period under review, the average cattle hide and skin yield hit record highs at kg per head in 2017; however, from 2018 to , the yield stood at a somewhat lower figure.

The number of animals slaughtered for cattle hide and skin production in Spain totaled heads in , picking up by % on figures. Over the period under review, the number of producing animals recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of % against the previous year. Over the period under review, this number reached the maximum level at heads in 2019; afterwards, it flattened through to .


Consumption
Please note: Annual data for 2022 are preliminary and subject to revision
Cattle hide and skin consumption in Spain totaled tons in , growing by % compared with the previous year. In general, consumption, however, saw a slight curtailment. Cattle hide and skin consumption peaked at tons in 2018; however, from 2019 to , consumption stood at a somewhat lower figure.

The value of the cattle hide and skin market in Spain reduced modestly to $ in , dropping 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, however, showed a perceptible decline. As a result, consumption attained the peak level of $. From 2017 to , the growth of the market remained at a lower figure.


Market Forecast
Please note: Annual data for 2022 are preliminary and subject to revision
Driven by rising demand for cattle hide and skin in Spain, the market is expected to start an upward consumption trend over the next eight years. The performance of the market is forecast to increase slightly, 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
Cattle hide and skin market in Spain consists almost entirely of imported products. 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
Spain 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.