The Global Bovine Hide Market Continues Its Modest Growth
The Consumption of Raw Cattle Hides and Skins Continues Its Modest Growth
From 2007 to 2016, the global bovine hide market grew steadily to 8.8M tonnes in 2016. In value terms, the market stood at $18.1B (IndexBox estimates). After a noticable decline of market value in 2009, there was a recovery and a period of further growth, peaking at $24.8B in 2014, then, the market assumed a downward trend.
Approx. half of the Global Volume of Raw Hides and Skins of Cattle Was Consumed by China, Brazil, the U.S. and India
The countries with the highest consumption were China (28%, based on tonnes), Brazil (10%), the U.S. (7%), India (5%) and Italy (5%), together comprising approx. 55% of global consumption.
The highest annual rates of growth with regard to the consumption of raw hides and skins of cattle from 2007 to 2016 were recorded in the U.S., with a +5.5% growth. Following significant consumption rates of growth, the U.S. strengthened its share in terms of global consumption from 4% in 2007, to 7% in 2016.
In terms of the leading consuming countries, high per capita consumption was recorded in Italy (6.6 kg/year in 2016), which was significantly higher than the world average of 1.2 kg/year. In Italy per capita consumption decreased from 2007-2016. The annual growth of per capita consumption from 2007 to 2016 was the most notable in the U.S., with a +4.7% growth.
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