Sweden: Handbag Market 2024

Handbag Market Size in Sweden

In 2022, the Swedish handbag market increased by 4.9% 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 +2.5% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. Handbag consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Handbag Exports

Exports from Sweden

Handbag exports from Sweden expanded rapidly to X units in 2022, with an increase of 7.6% against 2021 figures. The total export volume increased at an average annual rate of +2.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 when exports increased by 22% against the previous year. The exports peaked at X units in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, handbag exports rose rapidly to $X in 2022. Over the period under review, total exports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +7.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +86.6% against 2015 indices. The pace of growth appeared the most rapid in 2018 with an increase of 22%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in years to come.

Exports by Country

Norway (X units) was the main destination for handbag exports from Sweden, accounting for a 47% share of total exports. Moreover, handbag exports to Norway exceeded the volume sent to the second major destination, Finland (X units), fourfold. Denmark (X units) ranked third in terms of total exports with a 7.6% share.

From 2012 to 2022, the average annual growth rate of volume to Norway totaled +4.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (-5.5% per year) and Denmark (-3.3% per year).

In value terms, Norway ($X) remains the key foreign market for handbags exports from Sweden, comprising 37% of total exports. The second position in the ranking was held by Germany ($X), with an 8.2% share of total exports. It was followed by Denmark, with a 6.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Norway stood at +4.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+18.9% per year) and Denmark (-0.0% per year).

Export Prices by Country

The average handbag export price stood at $X per unit in 2022, reducing by -2.3% against the previous year. Over the period under review, export price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, handbag export price increased by +30.2% against 2016 indices. The most prominent rate of growth was recorded in 2021 an increase of 21% against the previous year. As a result, the export price attained the peak level of $X per unit, and then reduced slightly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to China ($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 Germany (+11.7%), while the prices for the other major destinations experienced more modest paces of growth.

Handbag Imports

Imports into Sweden

In 2022, purchases abroad of handbags increased by 12% to X units for the first time since 2018, thus ending a three-year declining trend. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 14%. Over the period under review, imports attained the peak figure at X units in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, handbag imports reached $X in 2022. The total import value increased at an average annual rate of +3.7% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 when imports increased by 20% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, China (X units) constituted the largest supplier of handbag to Sweden, accounting for a 47% share of total imports. Moreover, handbag imports from China exceeded the figures recorded by the second-largest supplier, India (X units), fourfold. The third position in this ranking was held by Vietnam (X units), with a 9.2% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at -1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+2.6% per year) and Vietnam (+44.2% per year).

In value terms, the largest handbag suppliers to Sweden were China ($X), Italy ($X) and the Netherlands ($X), together accounting for 41% of total imports. India, Poland, Germany, Denmark, Vietnam, Turkey and Hong Kong SAR lagged somewhat behind, together comprising a further 30%.

Among the main suppliers, Vietnam, with a CAGR of +38.0%, saw the highest rates of growth with regard to 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, dropping by -8.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.1%. The pace of growth was the most pronounced in 2021 an increase of 13%. As a result, import price attained the peak level of $X per unit, and then declined in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Poland ($X per unit), while the price for Vietnam ($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 (+28.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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