Asia: Luggage Market 2025

Luggage Market Size in Asia

The Asian luggage market expanded remarkably to $X in 2021, picking up by 9.7% against the previous year. The market value increased at an average annual rate of +3.1% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level in 2021 and is likely to continue growth in years to come.

Luggage Production in Asia

In value terms, luggage production expanded rapidly to $X in 2021 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 35%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Luggage Exports

Exports in Asia

In 2021, shipments abroad of luggage and handbags increased by 22% to X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, exports, however, continue to indicate a perceptible descent. The growth pace was the most rapid in 2017 with an increase of 83% against the previous year. The volume of export peaked at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, luggage exports skyrocketed to $X in 2021. Overall, exports, however, saw a relatively flat trend pattern. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China dominates exports structure, amounting to X tons, which was near 88% of total exports in 2021. The following exporters - Vietnam (X tons), Cambodia (X tons) and Singapore (X tons) - each reached a 5.3% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to luggage exports from China stood at -4.7%. At the same time, Cambodia (+55.6%), Singapore (+22.6%) and Vietnam (+2.3%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing exporter exported in Asia, with a CAGR of +55.6% from 2012-2021. From 2012 to 2021, the share of Cambodia and Singapore increased by +1.7 and +1.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest luggage supplier in Asia, comprising 66% of total exports. The second position in the ranking was held by Cambodia ($X), with a 4% share of total exports. It was followed by Vietnam, with a 3.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China totaled -2.0%. The remaining exporting countries recorded the following average annual rates of exports growth: Cambodia (+70.4% per year) and Vietnam (+9.0% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, rising by 4.3% against the previous year. Export price indicated measured growth from 2012 to 2021: its price increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, luggage export price increased by +35.0% against 2017 indices. The most prominent rate of growth was recorded in 2016 when the export price increased by 53%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, 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 Cambodia ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cambodia (+9.5%), while the other leaders experienced more modest paces of growth.

Luggage Imports

Imports in Asia

In 2021, approx. X tons of luggage and handbags were imported in Asia; with an increase of 9.5% against the previous year. In general, imports, however, saw a slight decrease. The most prominent rate of growth was recorded in 2019 when imports increased by 10% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, luggage imports surged to $X in 2021. Total imports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The purchases of the twelve major importers of luggage and handbags, namely Thailand, Hong Kong SAR, South Korea, the United Arab Emirates, Indonesia, Saudi Arabia, Singapore, the Philippines, Vietnam, Taiwan (Chinese), China and Japan, represented more than two-thirds of total import. India (X tons) took a minor share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Thailand (with a CAGR of +22.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported luggage and handbags in Asia, comprising 29% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with a 14% share of total imports. It was followed by South Korea, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China amounted to +20.6%. In the other countries, the average annual rates were as follows: Hong Kong SAR (-3.3% per year) and South Korea (+7.8% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2021, picking up by 21% against the previous year. Import price indicated a remarkable increase from 2012 to 2021: its price increased at an average annual rate of +7.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, luggage import price increased by +92.0% against 2017 indices. The pace of growth was the most pronounced in 2020 when the import price increased by 36%. The level of import peaked in 2021 and is expected to retain growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+10.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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