The UK leather and leather goods industry continued to navigate difficult trading conditions in 2024, with downward trends persisting from the previous year, according to the latest industry report from Leather UK.
While the sector showed some signs of stabilization, ongoing global conflicts, rising living costs, and reduced consumer confidence significantly impacted the industry’s performance.
The UK leather industry, which exports more than 80% of its production to over 80 countries worldwide, experienced a 6.7% decline in total export values in 2024.
However, total export volumes rose by 2.3%, suggesting a stabilization in demand despite lower overall prices across some export categories.
Raw material exports saw a fall in value but a slight increase in volume, indicating that while demand for raw materials had leveled off, it was at significantly lower prices.
More positively, both the value and volume of part-processed leather exports increased, though the larger relative increase in volume versus value again pointed to falling unit prices.
The most concerning trend was in finished leather exports, which plummeted by over 30% in volume following a nearly 25% fall in 2023.
This decline, despite smaller falls in export values suggesting higher unit prices, highlights an alarming trend in demand for UK finished leather products.
Key Export Figures by Category (2024)
Raw materials: £185.64 million value, 129.54 thousand tonnes volume (-6.77% value, +2.37% volume vs 2023)
Part-processed leather: £70.69 million value, 114.51 thousand tonnes volume (-1.75% value, +1.62% volume vs 2023)
Finished leather: £23.53 million value, 11.04 thousand tonnes volume (+11.52% value, +23.22% volume vs 2023)
The import picture proved equally challenging, with total imports falling by 8.1% in value and 16.7% in volume.
This dual decline suggested falling demand but rising prices, further illustrating the difficulties faced by the wider UK leather industry.
Raw material imports continued their downward trajectory, falling by 21.4% in value and 10% in volume. However, imports of bovine hides remained essentially stable, potentially signaling a turning point or leveling off for the bovine leather market.
The significant portion of the decline in raw material imports was attributed to substantial falls in other raw materials, continuing the trend from 2023 and reflecting the ongoing impact of Pittards’ closure.
Key Import Figures by Category (2024):
Raw materials: £3.61 million value, 4.80 thousand tonnes volume (-21.42% value, -10.10% volume vs 2023)
Part-processed leather: £7.78 million value, 1.78 thousand tonnes volume (-32.62% value, -33.76% volume vs 2023)
Finished leather: £100.56 million value, 5.075 thousand tonnes volume (-4.83% value, -14.99% volume vs 2023)
Related News – UK-EU Leather Trade Faces Major Setback with 14.2% Drop in 2024
This article is based on data and analysis from the “UK Leather & Leather Goods Industry in 2024” report published by Leather UK. All figures and trade data referenced are sourced from this comprehensive industry report.
