United Kingdom: Luggage Market 2024

Luggage Market Size in the UK

The UK luggage market stood at $X in 2021, rising by 3.6% against the previous year. Overall, consumption showed a noticeable decrease. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Luggage Production in the UK

In value terms, luggage production shrank to $X in 2021 estimated in export price. Over the period under review, production posted a remarkable increase. The pace of growth appeared the most rapid in 2017 with an increase of 17% against the previous year. Luggage production peaked at $X in 2020, and then fell in the following year.

Luggage Exports

Exports from the UK

In 2021, shipments abroad of luggage and handbags decreased by -5.9% to X tons, falling for the fifth consecutive year after five years of growth. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when exports increased by 23% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, luggage exports dropped to $X in 2021. In general, total exports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +6.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +83.1% against 2012 indices. The most prominent rate of growth was recorded in 2018 when exports increased by 15%. Over the period under review, the exports attained the maximum at $X in 2020, and then shrank slightly in the following year.

Exports by Country

Ireland (X tons) was the main destination for luggage exports from the UK, with a 62% share of total exports. Moreover, luggage exports to Ireland exceeded the volume sent to the second major destination, France (X tons), ninefold. The third position in this ranking was taken by Germany (X tons), with a 6.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Ireland amounted to +8.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-2.6% per year) and Germany (-10.5% per year).

In value terms, France ($X), the United States ($X) and Italy ($X) constituted the largest markets for luggage exported from the UK worldwide, together comprising 18% of total exports.

The United States, with a CAGR of +8.6%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average luggage export price amounted to $X per ton, increasing by 2.6% against the previous year. In general, the export price posted prominent growth. The most prominent rate of growth was recorded in 2020 an increase of 49%. Over the period under review, the average export prices attained the maximum in 2021 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Ireland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+12.6%), while the prices for the other major destinations experienced more modest paces of growth.

Luggage Imports

Imports into the UK

In 2021, approx. X tons of luggage and handbags were imported into the UK; dropping by -6.6% compared with 2020 figures. Overall, imports showed a deep downturn. The pace of growth was the most pronounced in 2014 when imports increased by 4.9%. Over the period under review, imports reached the maximum at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, luggage imports expanded to $X in 2021. Over the period under review, imports showed a slight reduction. The most prominent rate of growth was recorded in 2014 when imports increased by 9.4% against the previous year. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of luggage to the UK, accounting for a 60% share of total imports. Moreover, luggage imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), sevenfold. France (X tons) ranked third in terms of total imports with a 5.9% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to -10.7%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-2.4% per year) and France (+8.0% per year).

In value terms, the largest luggage suppliers to the UK were Italy ($X), China ($X) and France ($X), with a combined 75% share of total imports. India, the Netherlands, Spain, Germany, Belgium, Vietnam, Hong Kong SAR and Ireland lagged somewhat behind, together accounting for a further 19%.

Among the main suppliers, Vietnam, with a CAGR of +27.6%, 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.

Import Prices by Country

In 2021, the average luggage import price amounted to $X per ton, surging by 9% against the previous year. Over the period under review, import price indicated buoyant growth from 2012 to 2021: its price increased at an average annual rate of +6.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, luggage import price increased by +84.4% against 2016 indices. The growth pace was the most rapid in 2018 when the average import price increased by 25% against the previous year. The import price peaked in 2021 and is likely to see steady growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Ireland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+7.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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