Hong Kong SAR, China - Handbags - Market Analysis, Forecast, Size, Trends And Insights
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View PricingHong Kong Experiences Significant Surge in Handbag Prices, Reaching $89.6 per Unit
Hong Kong Handbag Import Price in June 2023
In June 2023, the handbag price stood at $89.6 per unit (CIF, Hong Kong), increasing by 12% against the previous month. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in February 2023 when the average import price increased by 50% month-to-month. As a result, import price reached the peak level of $152K per thousand units. From March 2023 to June 2023, the average import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In June 2023, the country with the highest price was France ($1,040 per unit), while the price for China ($16.5 per unit) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by Indonesia (+3.0%), while the prices for the other major suppliers experienced more modest paces of growth.
| COUNTRY | Import Price of Handbag in Hong Kong (USD per unit) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Jun 2022 | Jul 2022 | Aug 2022 | Sep 2022 | Oct 2022 | Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 | Mar 2023 | Apr 2023 | May 2023 | Jun 2023 | |
| France | 1,281 | 1,214 | 1,131 | 1,099 | 1,173 | 1,090 | 1,279 | 1,222 | 1,133 | 1,206 | 1,180 | 1,110 | 1,040 |
| Italy | 648 | 592 | 511 | 586 | 668 | 657 | 675 | 710 | 694 | 721 | 794 | 664 | 818 |
| Cambodia | 32.2 | 24.5 | 35.4 | 32.6 | 28.8 | 30.0 | 31.7 | 36.2 | 29.5 | 38.6 | 28.5 | 38.8 | 40.0 |
| Vietnam | 50.5 | 37.0 | 33.4 | 31.6 | 43.8 | 31.8 | 42.4 | 38.1 | 22.2 | 38.3 | 34.1 | 64.9 | 31.0 |
| Indonesia | 20.1 | 17.3 | 24.2 | 16.4 | 14.4 | 15.8 | 16.4 | 21.8 | 15.0 | 19.4 | 24.6 | 24.5 | 28.7 |
| China | 17.9 | 20.0 | 19.4 | 16.2 | 18.8 | 15.9 | 16.1 | 15.9 | 20.1 | 16.0 | 16.2 | 15.1 | 16.5 |
| Average | 98.8 | 101 | 109 | 85.8 | 112 | 95.8 | 86.9 | 102 | 152 | 109 | 82.8 | 80.1 | 89.6 |
Hong Kong Handbag Import Prices by Type
Prices varied noticeably by the product type; the product with the highest price was handbags with outer surface of vulcanised fibre or of paperboard ($131 per unit), while the price for handbags with outer surface of plastic sheeting or of textile materials ($65.6 per unit) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by handbags with outer surface of vulcanised fibre or of paperboard (+14.2%), while the prices for the other products experienced mixed trend patterns.
Hong Kong Handbag Imports
In June 2023, overseas purchases of handbags increased by 0.9% to 2.8M units, rising for the fourth month in a row after two months of decline. Overall, total imports indicated a perceptible increase from June 2022 to June 2023: its volume increased at an average monthly rate of +2.1% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on June 2023 figures, imports increased by +109.4% against February 2023 indices. The pace of growth was the most pronounced in March 2023 with an increase of 53% against the previous month. Imports peaked in June 2023.
In value terms, handbag imports amounted to $247M (IndexBox estimates) in June 2023. In general, total imports indicated slight growth from June 2022 to June 2023: its value increased at an average monthly rate of +1.3% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on June 2023 figures, imports increased by +13.0% against May 2023 indices. The most prominent rate of growth was recorded in February 2023 with an increase of 18% m-o-m. Imports peaked in June 2023.
Hong Kong Handbag Imports by Type
Handbags with outer surface of leather, composition leather, or patent leather (1.7M units), handbags with outer surface of plastic sheeting or of textile materials (1.1M units) and handbags with outer surface of vulcanised fibre or of paperboard (190 units) were the main products of handbag imports to Hong Kong.
From June 2022 to June 2023, the biggest increases were in handbags with outer surface of leather, composition leather, or patent leather (with a CAGR of +6.7%), while purchases for the other products experienced a decline.
In value terms, handbags with outer surface of leather, composition leather, or patent leather ($178M) constituted the largest type of handbag supplied to Hong Kong, comprising 72% of total imports. The second position in the ranking was held by handbags with outer surface of plastic sheeting or of textile materials ($69M), with a 28% share of total imports.
Hong Kong Handbag Imports by Country
In June 2023, China (2.2M units) constituted the largest handbag supplier to Hong Kong, accounting for a 79% share of total imports. Moreover, handbag imports from China exceeded the figures recorded by the second-largest supplier, France (99K units), more than tenfold. Vietnam (94K units) ranked third in terms of total imports with a 3.4% share.
From June 2022 to June 2023, the average monthly rate of growth in terms of volume from China amounted to +3.4%. The remaining supplying countries recorded the following average monthly rates of imports growth: France (+4.6% per month) and Vietnam (-2.3% per month).
In value terms, France ($103M), Italy ($65M) and China ($36M) were the largest handbag suppliers to Hong Kong, together accounting for 82% of total imports. Cambodia, Vietnam and Indonesia lagged somewhat behind, together accounting for a further 3.2%.
In terms of the main suppliers, Indonesia, with a CAGR of +5.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.
This report provides an in-depth analysis of the handbag market in Hong Kong SAR, China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 15121220 - Handbags of leather, composition leather, patent leather, p lastic sheeting, textile materials or other materials (including those without a handle)
Country coverage:
- Hong Kong SAR
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Hong Kong SAR, China
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
