Luxembourg: Handbag Market 2025

Handbag Market Size in Luxembourg

In 2022, the Luxembourg handbag market increased by 21% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of +1.8% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Handbag Exports

Exports from Luxembourg

In 2022, shipments abroad of handbags decreased by -36.7% to X units for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports, however, enjoyed resilient growth. The pace of growth was the most pronounced in 2021 with an increase of 137% against the previous year. As a result, the exports reached the peak of X units, and then fell rapidly in the following year.

In value terms, handbag exports shrank dramatically to $X in 2022. In general, exports, however, recorded a strong expansion. The growth pace was the most rapid in 2018 with an increase of 105%. The exports peaked at $X in 2021, and then dropped rapidly in the following year.

Exports by Country

Belgium (X units) was the main destination for handbag exports from Luxembourg, accounting for a 62% share of total exports. Moreover, handbag exports to Belgium exceeded the volume sent to the second major destination, Japan (X units), fivefold. France (X units) ranked third in terms of total exports with an 8.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Belgium amounted to +12.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+8.8% per year) and France (-5.1% per year).

In value terms, Belgium ($X), Japan ($X) and France ($X) were the largest markets for handbag exported from Luxembourg worldwide, together comprising 54% of total exports. Italy, the Netherlands, Germany and Switzerland lagged somewhat behind, together comprising a further 17%.

Among the main countries of destination, the Netherlands, with a CAGR of +54.7%, recorded the highest growth rate of 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

In 2022, the average handbag export price amounted to $X per unit, jumping by 28% against the previous year. Over the period under review, the export price, however, showed a pronounced contraction. The pace of growth appeared the most rapid in 2018 an increase of 134%. As a result, the export price attained the peak level of $X per unit. From 2019 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per unit), while the average price for exports to Belgium ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+22.3%), while the prices for the other major destinations experienced more modest paces of growth.

Handbag Imports

Imports into Luxembourg

In 2022, the amount of handbags imported into Luxembourg contracted modestly to X units, which is down by -1.6% compared with the previous year's figure. In general, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 when imports increased by 42% against the previous year. Imports peaked at X units in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, handbag imports rose significantly to $X in 2022. The total import value increased at an average annual rate of +4.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by 21%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

China (X units), Belgium (X units) and France (X units) were the main suppliers of handbag imports to Luxembourg, with a combined 57% share of total imports. Italy, Spain, Germany, India, the Netherlands and Vietnam lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +29.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest handbag suppliers to Luxembourg were France ($X), Italy ($X) and Belgium ($X), with a combined 81% share of total imports. China, Germany, Spain, the Netherlands, Vietnam and India lagged somewhat behind, together comprising a further 11%.

In terms of the main suppliers, Vietnam, with a CAGR of +32.0%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average handbag import price amounted to $X per unit, growing by 8.6% against the previous year. Over the period under review, import price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, handbag import price increased by +20.3% against 2017 indices. The pace of growth was the most pronounced in 2013 when the average import price increased by 39%. Over the period under review, average import prices hit record highs in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+9.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :