Eastern Asia: Luggage Market 2025

Luggage Market Size in Eastern Asia

The East Asian luggage market skyrocketed to $X in 2021, jumping by 26% against the previous year. The market value increased at an average annual rate of +4.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Luggage Production in Eastern Asia

In value terms, luggage production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production, however, showed a perceptible downturn. The pace of growth appeared the most rapid in 2017 when the production volume increased by 45% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Luggage Exports

Exports in Eastern Asia

In 2021, overseas shipments of luggage and handbags were finally on the rise to reach X tons after three years of decline. In general, exports, however, showed a pronounced contraction. The most prominent rate of growth was recorded in 2017 when exports increased by 90%. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, luggage exports surged to $X in 2021. Overall, exports, however, continue to indicate a perceptible curtailment. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) represented roughly 99% of total exports in 2021.

China was also the fastest-growing in terms of the luggage and handbags exports, with a CAGR of -4.7% from 2012 to 2021. China (+2 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest luggage supplier in Eastern Asia.

In China, luggage exports plunged by an average annual rate of -2.0% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, with an increase of 6.1% against the previous year. Export price indicated temperate growth from 2012 to 2021: its price increased at an average annual rate of +2.8% 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 export price increased by +31.6% against 2018 indices. The most prominent rate of growth was recorded in 2016 when the export price increased by 59% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2021, the rate of growth in terms of prices for China amounted to +2.8% per year.

Luggage Imports

Imports in Eastern Asia

In 2021, overseas purchases of luggage and handbags decreased by -2.8% to X tons, falling for the second year in a row after three years of growth. Over the period under review, imports recorded a pronounced downturn. The most prominent rate of growth was recorded in 2019 when imports increased by 16%. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, luggage imports surged to $X in 2021. Total imports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +84.4% against 2016 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Hong Kong SAR (X tons) and South Korea (X tons) prevails in imports structure, together committing 71% of total imports. It was distantly followed by Taiwan (Chinese) (X tons), China (X tons) and Japan (X tons), together achieving a 27% share of total imports. Macao SAR (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by China (with a CAGR of +13.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported luggage and handbags in Eastern Asia, comprising 40% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with a 19% share of total imports. It was followed by South Korea, with an 18% share.

From 2012 to 2021, the average annual growth rate of value in China stood at +20.6%. The remaining importing countries recorded the following average annual rates of imports growth: Hong Kong SAR (-3.3% per year) and South Korea (+7.8% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, with an increase of 37% against the previous year. Over the period under review, the import price continues to indicate a strong increase. The pace of growth appeared the most rapid in 2020 an increase of 50%. Over the period under review, import prices attained the peak figure in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Macao SAR ($X per ton), while Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+10.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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