Updated Nov 5, 2022 19:55

Market for Cattle Hide And Skin in the United Kingdom

Market Overview
In , the UK cattle hide and skin market increased by % to $ for the first time since 2016, thus ending a four-year declining trend. In general, consumption, however, showed a abrupt curtailment. Cattle hide and skin consumption peaked at $ in 2007; however, from 2008 to , consumption failed to regain momentum.

In value terms, cattle hide and skin production amounted to $ in estimated in export price. Over the period under review, production saw a noticeable contraction. The growth pace was the most rapid in 2010 with an increase of % against the previous year. Cattle hide and skin production peaked at $ in 2014; however, from 2015 to , production stood at a somewhat lower figure.

In , the average cattle hide and skin yield in the UK fell modestly to kg per head, approximately equating the year before. In general, the yield recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in with an increase of % 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 2010; however, from 2011 to , the yield stood at a somewhat lower figure.

In , approx. heads of animals slaughtered for cattle hide and skin production in the UK; almost unchanged from the previous year. In general, the number of producing animals showed a relatively flat trend pattern. The growth pace was the most rapid in 2010 when the number of producing animals increased by % against the previous year. Over the period under review, this number attained the peak level at heads in 2011; afterwards, it flattened through to .


Consumption
Cattle hide and skin consumption in the UK declined to tons in , with a decrease of -% against figures. Over the period under review, consumption recorded a deep setback. Over the period under review, consumption hit record highs at tons in 2007; however, from 2008 to , consumption failed to regain momentum.

The value of the cattle hide and skin market in the UK dropped to $ in , remaining constant 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 showed a abrupt curtailment. Over the period under review, the market attained the peak level at $ in 2007; however, from 2008 to , consumption remained at a lower figure.


Market Forecast
Depressed by shrinking demand for cattle hide and skin in the UK, 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
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
The UK 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.