South-Eastern Asia: Luggage Market 2024

Luggage Market Size in South-Eastern Asia

The Southeast Asian luggage market soared to $X in 2021, surging by 16% against the previous year. In general, consumption, however, continues to indicate a noticeable contraction. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Luggage Production in South-Eastern Asia

In value terms, luggage production expanded notably to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.0% 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 2018 with an increase of 28% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Luggage Exports

Exports in South-Eastern Asia

Luggage exports soared to X tons in 2021, increasing by 25% against 2020. Over the period under review, exports saw a strong expansion. The most prominent rate of growth was recorded in 2013 with an increase of 59% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, luggage exports skyrocketed to $X in 2021. Overall, exports continue to indicate strong growth. The most prominent rate of growth was recorded in 2013 when exports increased by 59% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Vietnam (X tons), Cambodia (X tons), Singapore (X tons) and Indonesia (X tons) represented roughly 82% of total exports in 2021. Thailand (X tons) held the next position in the ranking, followed by the Philippines (X tons) and Myanmar (X tons). All these countries together took near 17% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Myanmar (with a CAGR of +56.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest luggage supplying countries in South-Eastern Asia were Cambodia ($X), Vietnam ($X) and Singapore ($X), together comprising 69% of total exports.

Cambodia, with a CAGR of +70.4%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per ton, falling by -5.7% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.8%. The pace of growth was the most pronounced in 2018 when the export price increased by 14%. Over the period under review, the export prices attained the peak figure at $X per ton in 2020, and then declined in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+10.6%), while the other leaders experienced more modest paces of growth.

Luggage Imports

Imports in South-Eastern Asia

Luggage imports expanded significantly to X tons in 2021, increasing by 13% against 2020. Total imports indicated a moderate increase from 2012 to 2021: its volume increased at an average annual rate of +3.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -3.3% against 2019 indices. The pace of growth was the most pronounced in 2015 with an increase of 25% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, luggage imports expanded significantly to $X in 2021. The total import value increased at an average annual rate of +3.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 13%. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Thailand (X tons), distantly followed by Indonesia (X tons), Singapore (X tons), the Philippines (X tons), Vietnam (X tons) and Malaysia (X tons) were the largest importers of luggage and handbags, together generating 96% of total imports. Cambodia (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 key importing countries, was attained by Cambodia (with a CAGR of +23.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) constitutes the largest market for imported luggage and handbags in South-Eastern Asia, comprising 42% of total imports. The second position in the ranking was held by Thailand ($X), with a 17% share of total imports. It was followed by Malaysia, with a 13% share.

In Singapore, luggage imports expanded at an average annual rate of +6.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Thailand (+5.0% per year) and Malaysia (-6.4% per year).

Import Prices by Country

In 2021, the import price in South-Eastern Asia amounted to $X per ton, remaining relatively unchanged against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 16% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

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 Singapore ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+11.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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