Southern Asia: Luggage Market 2025

Luggage Market Size in Southern Asia

In 2021, the South Asian luggage market decreased by -6.7% to $X for the first time since 2015, thus ending a five-year rising trend. In general, consumption continues to indicate strong growth. Over the period under review, the market attained the maximum level at $X in 2020, and then dropped in the following year.

Luggage Production in Southern Asia

In value terms, luggage production contracted to $X in 2021 estimated in export price. Over the period under review, production saw a buoyant increase. The most prominent rate of growth was recorded in 2020 with an increase of 29% against the previous year. As a result, production attained the peak level of $X, and then declined in the following year.

Luggage Exports

Exports in Southern Asia

In 2021, overseas shipments of luggage and handbags increased by 32% to X tons for the first time since 2018, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +2.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The volume of export peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, luggage exports skyrocketed to $X in 2021. Total exports indicated a remarkable increase from 2012 to 2021: its value 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. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, India (X tons) was the largest exporter of luggage and handbags, committing 83% of total exports. It was distantly followed by Bangladesh (X tons), committing a 14% share of total exports. Sri Lanka (X tons) held a little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to luggage exports from India stood at +2.2%. At the same time, Sri Lanka (+17.2%) and Bangladesh (+7.4%) displayed positive paces of growth. Moreover, Sri Lanka emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of +17.2% from 2012-2021. From 2012 to 2021, the share of Bangladesh increased by +4.8 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) remains the largest luggage supplier in Southern Asia, comprising 82% of total exports. The second position in the ranking was taken by Bangladesh ($X), with a 16% share of total exports.

From 2012 to 2021, the average annual growth rate of value in India stood at +5.3%. In the other countries, the average annual rates were as follows: Bangladesh (+20.5% per year) and Sri Lanka (+4.3% per year).

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per ton, rising by 2.8% against the previous year. Over the last nine years, it increased at an average annual rate of +4.1%. The pace of growth was the most pronounced in 2019 when the export price increased by 11%. The level of export peaked in 2021 and is expected to retain growth in the near future.

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 Bangladesh ($X per ton), while Sri Lanka ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bangladesh (+12.2%), while the other leaders experienced mixed trends in the export price figures.

Luggage Imports

Imports in Southern Asia

Luggage imports surged to X tons in 2021, growing by 49% against the year before. Over the period under review, imports showed noticeable growth. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, luggage imports surged to $X in 2021. In general, imports enjoyed pronounced growth. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

India was the key importer of luggage and handbags in Southern Asia, with the volume of imports amounting to X tons, which was approx. 64% of total imports in 2021. It was distantly followed by Bangladesh (X tons) and Nepal (X tons), together generating a 25% share of total imports. The following importers - Pakistan (X tons), Sri Lanka (X tons) and Afghanistan (X tons) - together made up 9.8% of total imports.

Imports into India increased at an average annual rate of +1.3% from 2012 to 2021. At the same time, Bangladesh (+30.1%), Nepal (+19.9%), Sri Lanka (+9.6%), Afghanistan (+3.3%) and Pakistan (+1.3%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +30.1% from 2012-2021. While the share of Bangladesh (+17 p.p.) and Nepal (+3.8 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of India (-20.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported luggage and handbags in Southern Asia, comprising 77% of total imports. The second position in the ranking was held by Bangladesh ($X), with an 11% share of total imports. It was followed by Pakistan, with a 5.9% share.

In India, luggage imports increased at an average annual rate of +3.4% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Bangladesh (+22.5% per year) and Pakistan (+4.7% per year).

Import Prices by Country

In 2021, the import price in Southern Asia amounted to $X per ton, rising by 6.2% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the import price increased by 11%. The level of import peaked at $X per ton in 2015; however, from 2016 to 2021, import prices remained at a 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 Pakistan ($X per ton), while Afghanistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Pakistan (+3.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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