The leather market for bovine or equine animals in Thailand has shown fluctuations since 2013, peaking in 2023 at $14.34 per capita. From 2022 to 2023, the market grew by 1.20%, following a 1.29% increase from 2021 to 2022. The five-year compound annual growth rate (CAGR) from 2018 to 2023 was 1.33%, indicating a modest but steady recovery from a significant dip in 2020.
Future trends to watch for:
- Possible expansion due to increasing demand for leather goods in fashion and automotive industries.
- Impact of sustainable practices and eco-friendly materials on traditional leather market shares.
- Potential effects of global economic shifts and trade policies on leather exports and imports.
