Major players in the skin and hide market are Norilia Nordic, Sanimax, Texpac Hide & Skin Ltd., AI Bravo Leather Industries, J & E Sedgwick & Co., OZ-YUKSEL Leather Company, JBS Couros, Koktaslar Leather, Siddiq Leather Works Pvt. Tannery, Gruppo Mastrotto SpA, Leather Working Group, Horween Leather Co., Baker Commodities Inc., The Hide & Leather House Inc., and Maverick Leather Company.
The global skin and hide market is expected to grow from $121.45 billion in 2022 to $131.47 billion in 2023 at a compound annual growth rate (CAGR) of 8.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The skin and hide market is expected to reach $173.96 billion in 2027 at a CAGR of 7.3%.
The skin and hide market consists of sales of beaver fur pelts, badger furs, bear hides, bobcat fur pelts, coyote pelts, ermine fur, and fox pelts.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
A skin or hide refers to an animal’s skin that has been dried or tanned for use by humans.Skin is the outer covering of tiny animals like deer and goats, whereas hide is the outer covering of large animals from the bovine group or any other large mammals.
It is used to create a variety of goods, including garments, cooking equipment, storage containers, and many others.
Asia-Pacific was the largest region in the skin and hide market in 2022. The regions covered in the skin and hide market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of skin and hide products are cattle hides, buffalo hides, and horse hides, that can be natural and artificial.Cattle hide refers to leather created from mature bovine hides.
These are used in various applications, including household and commercial.
The increasing demand for leather is expected to boost the growth of the skin and hide market going forward.Leather refers to a product derived from animal skin that is used to create a variety of products, including footwear, purses, and furniture covers.
Animal hides or skins are chemically treated to create leather, a process known as tanning.The hides are preserved through this procedure, after which they can be utilized to make shoes, clothing, and upholstered furniture, among other things; hence, the increasing demand for leather is expected to boost the skin and hide market.
For instance, in August 2022, according to a report published by World Footwear, a Portugal-based provider of information, news, events, and statistics on the footwear sector worldwide, the sales of the Leather Products and Saddlery business of Hermès International, a France-based luxury goods company, increased by 16% in the first quarter of 2022 compared to the same period in 2021, due to expanded manufacturing capacity and consistent demand. Therefore, the increasing demand for leather is driving the growth of the skin and hide market.
Technological advancement is the key trend gaining popularity in the skin and hide market.Major companies operating in the skin and hide market are focusing on incorporating new technologies to sustain their position in the market.
For instance, in May 2021, ECCO, a Denmark-based company that offers top-quality leathers and innovative technology, launched DriTan 2.0 technology, a stage in the leather tanning process that yields measurable improvements in all relevant metrics, including water and energy use, chemicals, wastewater, and sludge. The unique feature of DriTan 2.0 technology is that it enables ECCO to use less energy while reducing the use of chemicals. Through the introduction of DriTan 2.0, ECCO upholds a concept that recognizes the value of the world’s pristine natural resources and uses just what is necessary to make leathers of the highest quality.
In July 2021, Rino Mastrotto Group, an Italy-based company that offers calf and bovine leather products for footwear and auto sectors, acquired Carroll Leather for an undisclosed amount.This acquisition brings together two businesses that each have a distinctive positioning, background, and expertise.
Carroll Leather is a US-based provider of tanned hides to the automobile and furniture industry for upholstery.
The countries covered in the skin and hide market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The skin and hide market research report is one of a series of new reports that provides skin and hide market statistics, including skin and hide industry global market size, regional shares, competitors with a skin and hide market share, detailed skin and hide market segments, market trends and opportunities, and any further data you may need to thrive in the skin and hide industry. This skin and hide market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.