Denmark: Luggage Market 2024

Luggage Market Size in Denmark

The Danish luggage market skyrocketed to $X in 2021, growing by 17% against the previous year. The market value increased at an average annual rate of +2.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Luggage Production in Denmark

In value terms, luggage production dropped rapidly to $X in 2021 estimated in export price. In general, production, however, recorded a abrupt setback. The growth pace was the most rapid in 2018 with an increase of 768%. Luggage production peaked at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Luggage Exports

Exports from Denmark

For the fourth year in a row, Denmark recorded decline in overseas shipments of luggage and handbags, which decreased by -7.3% to X tons in 2021. Over the period under review, exports saw a pronounced setback. The pace of growth appeared the most rapid in 2017 when exports increased by 27%. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, luggage exports reduced slightly to $X in 2021. The total export value increased at an average annual rate of +4.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 with an increase of 25%. As a result, the exports attained the peak of $X, leveling off in the following year.

Exports by Country

Germany (X tons), Sweden (X tons) and Norway (X tons) were the main destinations of luggage exports from Denmark, together comprising 57% of total exports. These countries were followed by Poland, France, the Netherlands, the UK, Finland, Belgium, Hong Kong SAR and Italy, which together accounted for a further 28%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Hong Kong SAR (with a CAGR of +20.5%), while the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X), Germany ($X) and Hong Kong SAR ($X) constituted the largest markets for luggage exported from Denmark worldwide, with a combined 51% share of total exports.

Hong Kong SAR, with a CAGR of +29.8%, recorded 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 7.1% against the previous year. Overall, the export price saw a strong expansion. The pace of growth appeared the most rapid in 2020 when the average export price increased by 52%. The export price peaked in 2021 and is likely to see gradual growth in years to come.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Germany ($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 the Netherlands (+14.0%), while the prices for the other major destinations experienced more modest paces of growth.

Luggage Imports

Imports into Denmark

In 2021, approx. X tons of luggage and handbags were imported into Denmark; with a decrease of -2.8% compared with the year before. In general, imports continue to indicate a perceptible contraction. The pace of growth appeared the most rapid in 2013 when imports increased by 34% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, luggage imports soared to $X in 2021. The total import value increased at an average annual rate of +1.9% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2013 with an increase of 27% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of luggage to Denmark, with a 40% share of total imports. Moreover, luggage imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), threefold. The third position in this ranking was held by Germany (X tons), with an 8.3% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to -7.1%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+5.4% per year) and Germany (+5.4% per year).

In value terms, the largest luggage suppliers to Denmark were China ($X), France ($X) and India ($X), with a combined 49% share of total imports. These countries were followed by Italy, Germany, Sweden, the Netherlands, Poland, Turkey, Spain, Belgium and Vietnam, which together accounted for a further 38%.

Poland, with a CAGR of +31.7%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average luggage import price stood at $X per ton in 2021, growing by 19% against the previous year. Over the last nine-year period, it increased at an average annual rate of +4.5%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was France ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+16.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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