Finland: Luggage Market 2024

Luggage Market Size in Finland

In 2021, the Finnish luggage market decreased by -14.1% to $X, falling for the third year in a row after two years of growth. Overall, consumption continues to indicate a deep slump. Luggage consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Luggage Production in Finland

In value terms, luggage production expanded to $X in 2021 estimated in export price. Over the period under review, production recorded a perceptible slump. The pace of growth appeared the most rapid in 2020 with an increase of 59% against the previous year. Luggage production peaked at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Luggage Exports

Exports from Finland

In 2021, the amount of luggage and handbags exported from Finland totaled X tons, increasing by 13% compared with the year before. Over the period under review, exports, however, continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2019 with an increase of 23% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, luggage exports soared to $X in 2021. Overall, total exports indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +2.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Sweden (X tons), Estonia (X tons) and Japan (X tons) were the main destinations of luggage exports from Finland, together accounting for 44% of total exports. These countries were followed by Russia, Italy, Macao SAR, Belgium, France, Latvia, Germany, Hong Kong SAR, Norway and Poland, which together accounted for a further 36%.

From 2012 to 2021, the biggest increases were recorded for Macao SAR (with a CAGR of +679.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Sweden ($X) and Macao SAR ($X) appeared to be the largest markets for luggage exported from Finland worldwide, together accounting for 38% of total exports.

In terms of the main countries of destination, Macao SAR, with a CAGR of +1,006.1%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average luggage export price stood at $X per ton in 2021, with an increase of 9.8% against the previous year. Over the period under review, the export price enjoyed resilient growth. The most prominent rate of growth was recorded in 2020 an increase of 43%. The export price peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Russia ($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 Macao SAR (+41.8%), while the prices for the other major destinations experienced more modest paces of growth.

Luggage Imports

Imports into Finland

In 2021, overseas purchases of luggage and handbags decreased by -27.8% to X tons, falling for the third consecutive year after two years of growth. In general, imports faced a deep downturn. The most prominent rate of growth was recorded in 2017 with an increase of 7.3% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, luggage imports fell modestly to $X in 2021. Over the period under review, imports saw a deep reduction. The pace of growth appeared the most rapid in 2017 with an increase of 12%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of luggage to Finland, with a 35% share of total imports. Moreover, luggage imports from China exceeded the figures recorded by the second-largest supplier, Sweden (X tons), twofold. The Netherlands (X tons) ranked third in terms of total imports with a 9.2% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to -17.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (+3.5% per year) and the Netherlands (+25.3% per year).

In value terms, France ($X), Sweden ($X) and China ($X) were the largest luggage suppliers to Finland, together comprising 49% of total imports. The Netherlands, Italy, Germany, Estonia, Belgium, Denmark, India, Poland and Vietnam lagged somewhat behind, together comprising a further 41%.

The Netherlands, with a CAGR of +29.2%, saw the highest growth rate of the value of imports, among the main suppliers 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, increasing by 33% against the previous year. Over the period under review, import price indicated a buoyant increase from 2012 to 2021: its price increased at an average annual rate of +6.5% 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 +57.2% against 2014 indices. 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 ($X per ton), while the price for Poland ($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 (+12.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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