China: Travel Set Market 2024

Travel Set Market Size in China

The Chinese travel set market dropped significantly to $X in 2021, reducing by -34.1% against the previous year. In general, consumption showed a slight curtailment. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.

Travel Set Production in China

In value terms, travel set production contracted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when the production volume increased by 21% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Travel Set Exports

Exports from China

After three years of growth, shipments abroad of travel sets decreased by -7% to X units in 2021. In general, exports, however, saw prominent growth. The growth pace was the most rapid in 2020 when exports increased by 64% against the previous year. As a result, the exports reached the peak of X units, and then contracted in the following year.

In value terms, travel set exports skyrocketed to $X in 2021. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 24%. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for travel set exports from China, accounting for a 27% share of total exports. Moreover, travel set exports to the United States exceeded the volume sent to the second major destination, the UK (X units), fivefold. The third position in this ranking was taken by the Netherlands (X units), with a 5.4% share.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled +6.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+10.3% per year) and the Netherlands (+12.4% per year).

In value terms, the United States ($X) remains the key foreign market for travel sets exports from China, comprising 32% of total exports. The second position in the ranking was held by the UK ($X), with a 7.5% share of total exports. It was followed by the Netherlands, with a 6.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+4.9% per year) and the Netherlands (+5.7% per year).

Export Prices by Country

In 2021, the average travel set export price amounted to $X per unit, with an increase of 28% against the previous year. Over the period under review, the export price, however, showed a abrupt curtailment. The export price peaked at $X per unit in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per unit), while the average price for exports to the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (-4.9%), while the prices for the other major destinations experienced a decline.

Travel Set Imports

Imports into China

In 2021, supplies from abroad of travel sets decreased by -34.8% to X units, falling for the fourth year in a row after six years of growth. In general, imports saw a sharp shrinkage. The pace of growth was the most pronounced in 2015 when imports increased by 82% against the previous year. Imports peaked at X units in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, travel set imports skyrocketed to $X in 2021. Over the period under review, imports saw a abrupt decline. The growth pace was the most rapid in 2014 with an increase of 73% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the United States (X units) constituted the largest travel set supplier to China, with a 66% share of total imports. Moreover, travel set imports from the United States exceeded the figures recorded by the second-largest supplier, Switzerland (X units), sixfold. Japan (X units) ranked third in terms of total imports with a 7.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States totaled +3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (+30.4% per year) and Japan (-17.7% per year).

In value terms, the United States ($X) constituted the largest supplier of travel sets to China, comprising 44% of total imports. The second position in the ranking was taken by Cambodia ($X), with a 21% share of total imports. It was followed by Italy, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States amounted to +16.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Cambodia (+116.2% per year) and Italy (+5.8% per year).

Import Prices by Country

The average travel set import price stood at $X per unit in 2021, with an increase of 90% against the previous year. Overall, the import price enjoyed a strong increase. The pace of growth was the most pronounced in 2020 when the average import price increased by 122%. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cambodia (+249.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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