Italy Sees a Record $9.5B in Luggage Exports for 2023

Italy Luggage Exports

In 2023, after two years of growth, there was decline in shipments abroad of luggage and handbags, when their volume decreased by -1.7% to 67M units. The total export volume increased at an average annual rate of +2.4% from 2013 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2022 with an increase of 20%. Over the period under review, the exports hit record highs at 73M units in 2019; however, from 2020 to 2023, the exports stood at a somewhat lower figure.

In value terms, luggage exports totaled $9.5B (IndexBox estimates) in 2023. Over the period under review, total exports indicated buoyant growth from 2013 to 2023: its value increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by +47.1% against 2020 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 28%. The exports peaked in 2023 and are expected to retain growth in the immediate term.

Exports by Country

France (9.9M units), Germany (8.1M units) and the United States (4.1M units) were the main destinations of luggage exports from Italy, together comprising 33% of total exports. Switzerland, Japan, China, South Korea and Hong Kong lagged somewhat behind, together accounting for a further 20%.

From 2013 to 2023, the biggest increases were recorded for China (with a CAGR of +18.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for luggage exported from Italy were France ($1.6B), the United States ($1.1B) and Switzerland ($1.1B), together accounting for 40% of total exports. China, South Korea, Japan, Germany and Hong Kong lagged somewhat behind, together comprising a further 35%.

Among the main countries of destination, China, with a CAGR of +18.4%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Exports by Type

Handbags with outer surface of leather, composition leather, or patent leather (30M units), handbags with outer surface of plastic sheeting or of textile materials (23M units) and cases and containers; trunks, suit-cases, vanity-cases, executive-cases, brief-cases, school satchels and similar containers, with outer surface of plastics or of textile materials (5.8M units) were the main products of luggage exports from Italy, together accounting for 88% of total exports. Handbags with outer surface of vulcanised fibre or of paperboard, travel sets; for personal toilet, sewing, shoe or clothes cleaning, cases and containers; trunks, suit-cases, vanity-cases, executive-cases, brief-cases, school satchels and similar containers, with outer surface of leather, of composition leather or of patent leather and cases and containers; trunks, suit-cases, vanity-cases, executive-cases, brief-cases, school satchels and similar containers, with outer surface of vulcanised fibre or of paperboard lagged somewhat behind, together accounting for a further 12%.

From 2013 to 2023, the biggest increases were recorded for cases and containers; trunks, suit-cases, vanity-cases, executive-cases, brief-cases, school satchels and similar containers, with outer surface of vulcanised fibre or of paperboard (with a CAGR of +6.8%), while shipments for the other products experienced more modest paces of growth.

In value terms, handbags with outer surface of leather, composition leather, or patent leather ($6.4B) remains the largest type of luggage and handbags exported from Italy, comprising 67% of total exports. The second position in the ranking was held by handbags with outer surface of plastic sheeting or of textile materials ($2.3B), with a 24% share of total exports. It was followed by cases and containers; trunks, suit-cases, vanity-cases, executive-cases, brief-cases, school satchels and similar containers, with outer surface of plastics or of textile materials, with a 3.4% share.

From 2013 to 2023, the average annual rate of growth in terms of the value of handbags with outer surface of leather, composition leather, or patent leather exports amounted to +5.6%. With regard to the other exported products, the following average annual rates of growth were recorded: handbags with outer surface of plastic sheeting or of textile materials (+8.7% per year) and cases and containers; trunks, suit-cases, vanity-cases, executive-cases, brief-cases, school satchels and similar containers, with outer surface of plastics or of textile materials (+6.6% per year).

Export Prices by Country

In 2023, the luggage price stood at $143 per unit (FOB, Italy), rising by 12% against the previous year. Over the period under review, export price indicated a tangible expansion from 2013 to 2023: its price increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, luggage export price decreased by -2.3% against 2021 indices. The most prominent rate of growth was recorded in 2020 when the average export price increased by 25%. Over the period under review, the average export prices hit record highs at $146 per unit in 2021; however, from 2022 to 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2023, amid the top suppliers, the country with the highest price was South Korea ($382 per unit), while the average price for exports to Poland ($42 per unit) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Switzerland (+6.5%), while the prices for the other major destinations experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform