ECOWAS: Market for Raw Hides And Skins of Cattle 2024

Market Size for Raw Hides And Skins of Cattle in ECOWAS

The ECOWAS cattle hide and skin market totaled $X in 2023, increasing by X% against the previous year. The total consumption indicated a notable expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2018 indices. Over the period under review, the market hit record highs in 2023 and is likely to see gradual growth in years to come.

Production of Raw Hides And Skins of Cattle in ECOWAS

In value terms, cattle hide and skin production expanded to $X in 2023 estimated in export price. In general, production faced a abrupt decrease. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. The level of production peaked at $X in 2012; however, from 2013 to 2023, production remained at a lower figure.

The countries with the highest volumes of production in 2023 were Nigeria (X tons), Burkina Faso (X tons) and Senegal (X tons), with a combined X% share of total production. Guinea, Niger, Mali and Benin lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by Mali (with a CAGR of X%), while production for the other leaders experienced more modest paces of growth.

In 2023, the average cattle hide and skin yield in ECOWAS shrank slightly to X kg per head, approximately reflecting 2022 figures. In general, the yield, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of X%. The level of yield peaked at X kg per head in 2013; however, from 2014 to 2023, the yield stood at a somewhat lower figure.

The global number of animals slaughtered for cattle hide and skin production dropped to X heads in 2023, therefore, remained relatively stable against the previous year's figure. Overall, the number of producing animals, however, recorded a modest increase. The pace of growth was the most pronounced in 2020 when the number of producing animals increased by X% against the previous year. Over the period under review, this number reached the maximum level at X heads in 2022, and then contracted in the following year.

Exports of Raw Hides And Skins of Cattle

Exports in ECOWAS

In 2023, shipments abroad of raw hides and skins of cattle decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Overall, exports, however, enjoyed a mild increase. The most prominent rate of growth was recorded in 2016 when exports increased by X%. Over the period under review, the exports reached the peak figure at X tons in 2022, and then contracted rapidly in the following year.

In value terms, cattle hide and skin exports contracted markedly to $X in 2023. In general, exports, however, posted prominent growth. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The level of export peaked at $X in 2022, and then fell sharply in the following year.

Exports by Country

Nigeria (X tons) and Mali (X tons) were the major exporters of raw hides and skins of cattle in 2023, recording approx. X% and X% of total exports, respectively. It was distantly followed by Niger (X tons), creating a X% share of total exports. Senegal (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Nigeria (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X) remains the largest cattle hide and skin supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Niger ($X), with a X% share of total exports. It was followed by Mali, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Nigeria amounted to X%. In the other countries, the average annual rates were as follows: Niger (X% per year) and Mali (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2023, falling by X% against the previous year. In general, the export price, however, recorded a prominent expansion. The pace of growth appeared the most rapid in 2018 an increase of X%. The level of export peaked at $X per ton in 2021; however, from 2022 to 2023, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while Mali ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Niger (X%), while the other leaders experienced a decline in the export price figures.

Imports of Raw Hides And Skins of Cattle

Imports in ECOWAS

Cattle hide and skin imports dropped to X tons in 2023, with a decrease of X% against the year before. In general, imports, however, recorded a significant increase. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. The volume of import peaked at X tons in 2022, and then contracted in the following year.

In value terms, cattle hide and skin imports stood at $X in 2023. Over the period under review, imports, however, showed significant growth. The pace of growth appeared the most rapid in 2020 when imports increased by X%. The level of import peaked in 2023 and is likely to see steady growth in years to come.

Imports by Country

Nigeria represented the key importer of raw hides and skins of cattle in ECOWAS, with the volume of imports amounting to X tons, which was near X% of total imports in 2023. It was distantly followed by Benin (X tons), achieving a X% share of total imports. Ghana (X tons) took a relatively small share of total imports.

Imports into Nigeria increased at an average annual rate of X% from 2012 to 2023. At the same time, Benin (X%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2023. By contrast, Ghana (X%) illustrated a downward trend over the same period. While the share of Nigeria (X p.p.) and Benin (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Ghana (X p.p.) displayed negative dynamics.

In value terms, Nigeria ($X) constitutes the largest market for imported raw hides and skins of cattle in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Ghana ($X), with a X% share of total imports.

In Nigeria, cattle hide and skin imports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Ghana (X% per year) and Benin (X% per year).

Import Prices by Country

In 2023, the import price in ECOWAS amounted to $X per ton, jumping by X% against the previous year. In general, the import price continues to indicate a strong increase. The pace of growth appeared the most rapid in 2022 an increase of X%. The level of import peaked in 2023 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Nigeria ($X per ton), while Benin ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Ghana (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform