The Leather of Bovine or Equine Animals Market in China saw significant growth between 2012 and 2015, with the market value peaking at $19.805 billion in 2015. From 2016 onwards, the market experienced a declining trend, dipping to a low of $16.196 billion in 2020, showing a year-on-year decrease, but it started to recover slightly from 2021 onwards. As of 2022, the market value stood at $17.234 billion. The year-on-year variations have shown fluctuating trends, with notable declines during the mid-decade, and modest recovery in recent years. The CAGR over the last five years (2018-2022) indicates a marginal growth of 0.41%, showcasing the market's overall volatility.
Future trends to watch for:
- Pandemic recovery's impact on demand and supply chains.
- Influence of environmental regulations on production processes.
- Technological advancements in synthetic leather alternatives.
- Changes in consumer preferences towards sustainable products.
How does China 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% | |
| 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% | View data |
