Singapore: Luggage Market 2025

Luggage Market Size in Singapore

The Singaporean luggage market declined significantly to $X in 2021, shrinking by -16.4% against the previous year. Overall, consumption showed a abrupt decrease. Luggage consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Luggage Production in Singapore

In value terms, luggage production contracted notably to $X in 2021 estimated in export price. Overall, production, however, saw significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 3,049%. As a result, production reached the peak level of $X, and then shrank rapidly in the following year.

Luggage Exports

Exports from Singapore

In 2021, shipments abroad of luggage and handbags decreased by -12.6% to X tons, falling for the second year in a row after eight years of growth. Overall, exports, however, enjoyed a significant increase. The pace of growth appeared the most rapid in 2013 with an increase of 58% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, luggage exports reduced to $X in 2021. Over the period under review, exports, however, showed a buoyant expansion. The pace of growth appeared the most rapid in 2016 when exports increased by 30%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X tons) was the main destination for luggage exports from Singapore, with a 43% share of total exports. Moreover, luggage exports to Japan exceeded the volume sent to the second major destination, Australia (X tons), threefold. Indonesia (X tons) ranked third in terms of total exports with a 7.7% share.

From 2012 to 2021, the average annual growth rate of volume to Japan amounted to +72.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+25.7% per year) and Indonesia (+3.5% per year).

In value terms, Japan ($X) emerged as the key foreign market for luggage and handbags exports from Singapore, comprising 36% of total exports. The second position in the ranking was taken by Australia ($X), with a 15% share of total exports. It was followed by Indonesia, with an 11% share.

From 2012 to 2021, the average annual growth rate of value to Japan stood at +57.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+11.3% per year) and Indonesia (+0.1% per year).

Export Prices by Country

The average luggage export price stood at $X per ton in 2021, surging by 3.2% against the previous year. In general, the export price, however, recorded a abrupt downturn. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Guam ($X per ton), while the average price for exports to South Korea ($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 Indonesia (-3.2%), while the prices for the other major destinations experienced a decline.

Luggage Imports

Imports into Singapore

In 2021, the amount of luggage and handbags imported into Singapore dropped to X tons, which is down by -7.2% against the year before. In general, total imports indicated perceptible growth from 2012 to 2021: its volume increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -25.7% against 2019 indices. The pace of growth was the most pronounced in 2019 when imports increased by 25% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, luggage imports expanded markedly to $X in 2021. Over the period under review, total imports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +6.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -16.4% against 2019 indices. The growth pace was the most rapid in 2016 when imports increased by 19% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, France (X tons) constituted the largest luggage supplier to Singapore, with a 54% share of total imports. Moreover, luggage imports from France exceeded the figures recorded by the second-largest supplier, Italy (X tons), threefold. The third position in this ranking was held by China (X tons), with a 9.5% share.

From 2012 to 2021, the average annual growth rate of volume from France totaled +13.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+6.4% per year) and China (-10.6% per year).

In value terms, France ($X) constituted the largest supplier of luggage and handbags to Singapore, comprising 55% of total imports. The second position in the ranking was held by Italy ($X), with a 24% share of total imports. It was followed by Spain, with a 7.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from France totaled +12.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+5.6% per year) and Spain (+18.9% per year).

Import Prices by Country

In 2021, the average luggage import price amounted to $X per ton, increasing by 17% against the previous year. Over the last nine years, it increased at an average annual rate of +2.2%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+3.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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