Global Luggage Market 2024

Luggage Market Size

In 2023, the global luggage market increased by X% to $X, rising for the third consecutive year after two years of decline. In general, consumption continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the market value increased by X%. Over the period under review, the global market reached the maximum level in 2023 and is likely to see gradual growth in the immediate term.

Luggage Production

In value terms, luggage production dropped slightly to $X in 2023 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, global production attained the peak level at $X in 2019; however, from 2020 to 2023, production failed to regain momentum.

Luggage Exports

Exports

For the third consecutive year, the global market recorded growth in overseas shipments of luggage and handbags, which increased by X% to X units in 2023. Overall, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. As a result, the exports attained the peak of X units. From 2017 to 2023, the growth of the global exports remained at a somewhat lower figure.

In value terms, luggage exports rose rapidly to $X in 2023. In general, total exports indicated a noticeable increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 when exports increased by X%. Over the period under review, the global exports reached the maximum in 2023 and are likely to see gradual growth in the immediate term.

Exports by Country

China prevails in exports structure, accounting for X units, which was approx. X% of total exports in 2023. It was distantly followed by India (X units), creating a X% share of total exports. The following exporters - Italy (X units) and Vietnam (X units) - each finished at a X% share of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of luggage and handbags. At the same time, India (X%), Vietnam (X%) and Italy (X%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in the world, with a CAGR of X% from 2012-2023. India (X p.p.) significantly strengthened its position in terms of the global exports, while China saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest luggage supplier worldwide, comprising X% of global exports. The second position in the ranking was taken by Italy ($X), with a X% share of global exports. It was followed by Vietnam, with a X% share.

From 2012 to 2023, the average annual growth rate of value in China stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Italy (X% per year) and Vietnam (X% per year).

Export Prices by Country

The average luggage export price stood at $X per unit in 2023, approximately equating the previous year. Over the period under review, export price indicated noticeable growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, luggage export price increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2017 when the average export price increased by X%. The global export price peaked at $X per unit in 2014; however, from 2015 to 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Italy ($X per unit), while India ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%), while the other global leaders experienced a decline in the export price figures.

Luggage Imports

Imports

In 2023, approx. X units of luggage and handbags were imported worldwide; with an increase of X% compared with 2022. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. As a result, imports reached the peak of X units. From 2021 to 2023, the growth of global imports failed to regain momentum.

In value terms, luggage imports stood at $X in 2023. Over the period under review, total imports indicated a tangible increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Global imports peaked in 2023 and are expected to retain growth in the immediate term.

Imports by Country

In 2023, the United States (X units) and India (X units) represented the main importers of luggage and handbagsaround the world, together resulting at near X% of total imports. Thailand (X units) ranks next in terms of the total imports with a X% share, followed by Mexico (X%). Italy (X units), Brazil (X units), the Philippines (X units), the UK (X units), France (X units), Spain (X units), the Netherlands (X units), Egypt (X units) and Germany (X units) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Egypt (with a CAGR of X%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest luggage importing markets worldwide were the United States ($X), France ($X) and Italy ($X), with a combined X% share of global imports. Germany, the UK, Spain, the Netherlands, Thailand, Mexico, India, Brazil, the Philippines and Egypt lagged somewhat behind, together accounting for a further X%.

The Philippines, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average luggage import price amounted to $X per unit, with a decrease of X% against the previous year. In general, import price indicated a temperate expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per unit in 2022, and then declined in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was France ($X per unit), while Egypt ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform