The Leather of Bovine or Equine Animals market in Thailand showed significant growth between 2012 and 2014, with values rising from $748.09 million to $976.45 million, marking strong year-on-year increases. However, from 2015 to 2020, the market experienced fluctuations, with some declines in value, most notably a steep drop in 2020. The recovery began in 2021, pushing the market value up to $977.23 million in 2021 and $990.9 million in 2022. Over the last two years, the market showed a notable rebound, especially with a 22.23% year-on-year increase in 2021. The Compound Annual Growth Rate (CAGR) over the last five years shows relatively modest growth at 1.6%.
Future trends to watch include potential fluctuations due to economic factors, innovations in leather processing technology, and changes in consumer behavior towards sustainable and ethical products. Keeping an eye on international trade policies and their impact on raw material availability will also be crucial for forecasting future market performance.
How does Thailand rank in Leather of Bovine or Equine Animals Market Size Value?
| # | 5 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 17,323,000,000 | 2023 | +0.52% | +0.53% | View data |
| 2 | 2 India | 2,877,800,000 | 2023 | +0.81% | -0.44% | View data |
| 3 | 3 France | 1,647,900,000 | 2023 | +0.26% | -1.13% | View data |
| 4 | 4 Poland | 1,152,400,000 | 2023 | -1.26% | -1.21% | View data |
| 5 | 5 Thailand | 1,004,300,000 | 2023 | +1.35% | +1.5% |
