Luggage Market

The global luggage market is expected to experience growth in both volume and value over the next eight years, with China leading in production and exports, and the United States dominating in imports. Handbags with outer surfaces of plastic sheeting or textile materials are the most commonly imported products, while handbags with outer surfaces of leather have the highest export value. The market has shown steady growth patterns over the years, with fluctuations in import and export prices.

Market Forecast

Driven by rising demand for luggage worldwide, the market is expected to start an upward consumption trend over the next eight-year period. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +4.9% for the period from 2022 to 2030, which is projected to bring the market volume to 6.7B units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.5% for the period from 2022 to 2030, which is projected to bring the market value to $78.5B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Luggage And Handbags

Global luggage consumption rose slightly to 4.6B units in 2022, picking up by 4.7% compared with the previous year's figure. Overall, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak volume of 10B units. From 2021 to 2022, the growth of the global consumption remained at a lower figure.

The global luggage market value rose notably to $51.2B in 2022, surging by 7.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 8.5%. As a result, consumption reached the peak level of $52.7B. From 2019 to 2022, the growth of the global market failed to regain momentum.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (760M units), the United States (473M units) and India (238M units), together accounting for 32% of global consumption. Brazil, Japan, Italy, Mexico, the UK, Thailand, Nigeria, Bangladesh, Indonesia and South Africa lagged somewhat behind, together accounting for a further 24%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Japan (with a CAGR of +4.6%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($6.7B) led the market, alone. The second position in the ranking was taken by China ($2.4B). It was followed by Japan.

From 2012 to 2022, the average annual growth rate of value in the United States amounted to +6.6%. The remaining consuming countries recorded the following average annual rates of market growth: China (+1.0% per year) and Japan (+1.6% per year).

The countries with the highest levels of luggage per capita consumption in 2022 were Italy (2,213 units per 1000 persons), the UK (1,466 units per 1000 persons) and the United States (1,411 units per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Japan (with a CAGR of +4.9%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Luggage And Handbags

In 2022, production of luggage and handbags increased by 13% to 7.5B units, rising for the second year in a row after two years of decline. In general, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 61%. As a result, production attained the peak volume of 12B units. From 2017 to 2022, global production growth failed to regain momentum.

In value terms, luggage production totaled $49.5B in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 12% against the previous year. Over the period under review, global production reached the maximum level at $59.8B in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Production By Country

China (5.3B units) constituted the country with the largest volume of luggage production, accounting for 71% of total volume. Moreover, luggage production in China exceeded the figures recorded by the second-largest producer, India (531M units), tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume in China was relatively modest. The remaining producing countries recorded the following average annual rates of production growth: India (+3.7% per year) and Myanmar (+11.9% per year).

Imports

World Imports of Luggage And Handbags

In 2022, global luggage imports amounted to 3.2B units, with an increase of 12% on 2021 figures. Overall, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 170% against the previous year. As a result, imports attained the peak of 8.2B units. From 2021 to 2022, the growth of global imports remained at a lower figure.

In value terms, luggage imports skyrocketed to $44.2B in 2022. The total import value increased at an average annual rate of +4.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 25%. Global imports peaked in 2022 and are likely to see gradual growth in years to come.

Imports By Country

In 2022, the United States (440M units), followed by India (249M units), Italy (151M units) and Mexico (150M units) were the main importers of luggage and handbags, together mixing up 31% of total imports. The UK (114M units), Spain (112M units), France (110M units), Thailand (107M units), Japan (100M units), Brazil (92M units), Germany (89M units), the Netherlands (89M units) and Vietnam (81M units) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Vietnam (with a CAGR of +30.1%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($6.3B) constitutes the largest market for imported luggage and handbags worldwide, comprising 14% of global imports. The second position in the ranking was held by France ($3B), with a 6.7% share of global imports. It was followed by Italy, with a 5.2% share.

From 2012 to 2022, the average annual growth rate of value in the United States amounted to +4.7%. In the other countries, the average annual rates were as follows: France (+3.0% per year) and Italy (+3.6% per year).

Imports By Type

Handbags with outer surface of plastic sheeting or of textile materials represented the key imported product with an import of about 1.8B units, which recorded 55% of total imports. Cases and containers; trunks, suit-cases, vanity-cases, executive-cases, brief-cases, school satchels and similar containers, with outer surface of plastics or of textile materials (670M units) took a 21% share (based on physical terms) of total imports, which put it in second place, followed by travel sets; for personal toilet, sewing, shoe or clothes cleaning (8.4%), handbags with outer surface of vulcanised fibre or of paperboard (7.4%) and handbags with outer surface of leather, composition leather, or patent leather (5.5%). Cases and containers; trunks, suit-cases, vanity-cases, executive-cases, brief-cases, school satchels and similar containers, with outer surface of vulcanised fibre or of paperboard (67M units) held a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to handbags with outer surface of plastic sheeting or of textile materials imports of stood at +1.3%. At the same time, handbags with outer surface of vulcanised fibre or of paperboard (+4.5%) and cases and containers; trunks, suit-cases, vanity-cases, executive-cases, brief-cases, school satchels and similar containers, with outer surface of vulcanised fibre or of paperboard (+1.7%) displayed positive paces of growth. Moreover, handbags with outer surface of vulcanised fibre or of paperboard emerged as the fastest-growing type imported in the world, with a CAGR of +4.5% from 2012-2022. Handbags with outer surface of leather, composition leather, or patent leather and travel sets; for personal toilet, sewing, shoe or clothes cleaning experienced a relatively flat trend pattern. By contrast, cases and containers; trunks, suit-cases, vanity-cases, executive-cases, brief-cases, school satchels and similar containers, with outer surface of plastics or of textile materials (-3.2%) illustrated a downward trend over the same period. While the share of handbags with outer surface of plastic sheeting or of textile materials (+6.8 p.p.) and handbags with outer surface of vulcanised fibre or of paperboard (+2.7 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of cases and containers; trunks, suit-cases, vanity-cases, executive-cases, brief-cases, school satchels and similar containers, with outer surface of plastics or of textile materials (-8.1 p.p.) displayed negative dynamics. The shares of the other products remained relatively stable throughout the analyzed period.

In value terms, the largest types of imported luggage and handbags were handbags with outer surface of leather, composition leather, or patent leather ($19.8B), handbags with outer surface of plastic sheeting or of textile materials ($13.8B) and cases and containers; trunks, suit-cases, vanity-cases, executive-cases, brief-cases, school satchels and similar containers, with outer surface of plastics or of textile materials ($8.1B), with a combined 94% share of global imports.

Handbags with outer surface of leather, composition leather, or patent leather, with a CAGR of +6.6%, saw the highest growth rate of the value of imports, in terms of the main imported products over the period under review, while purchases for the other products experienced more modest paces of growth.

Import Prices By Type

The average luggage import price stood at $14 per unit in 2022, growing by 3.1% against the previous year. Overall, import price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, luggage import price increased by +269.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 259% against the previous year. Global import price peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major imported products. In 2022, the product with the highest price was handbags with outer surface of leather, composition leather, or patent leather ($112 per unit), while the price for travel sets; for personal toilet, sewing, shoe or clothes cleaning ($1 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by handbags with outer surface of leather, composition leather, or patent leather (+7.2%), while the other products experienced more modest paces of growth.

Import Prices By Country

The average luggage import price stood at $14 per unit in 2022, rising by 3.1% against the previous year. In general, import price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, luggage import price increased by +269.7% against 2020 indices. The growth pace was the most rapid in 2021 when the average import price increased by 259% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was France ($27 per unit), while India ($1.5 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+11.6%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Luggage And Handbags

In 2022, approx. 6.1B units of luggage and handbags were exported worldwide; rising by 20% against the previous year's figure. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 83%. As a result, the exports attained the peak of 9.8B units. From 2017 to 2022, the growth of the global exports remained at a somewhat lower figure.

In value terms, luggage exports soared to $55.6B in 2022. The total export value increased at an average annual rate of +4.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 25%. The global exports peaked in 2022 and are expected to retain growth in years to come.

Exports By Country

China prevails in exports structure, finishing at 4.6B units, which was near 75% of total exports in 2022. It was distantly followed by India (543M units), generating an 8.9% share of total exports. Vietnam (143M units) held a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to luggage exports from China stood at -1.4%. At the same time, Vietnam (+13.7%) and India (+13.0%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in the world, with a CAGR of +13.7% from 2012-2022. From 2012 to 2022, the share of India and Vietnam increased by +6.4 and +1.7 percentage points, respectively.

In value terms, China ($21.4B) remains the largest luggage supplier worldwide, comprising 39% of global exports. The second position in the ranking was taken by Vietnam ($1.6B), with a 2.9% share of global exports.

From 2012 to 2022, the average annual growth rate of value in China totaled +1.4%. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (+7.6% per year) and India (+7.6% per year).

Exports By Type

Handbags with outer surface of plastic sheeting or of textile materials (2.9B units) and cases and containers; trunks, suit-cases, vanity-cases, executive-cases, brief-cases, school satchels and similar containers, with outer surface of plastics or of textile materials (2.3B units) dominates exports structure, together comprising 87% of total exports. It was distantly followed by travel sets; for personal toilet, sewing, shoe or clothes cleaning (447M units), creating a 7.3% share of total exports. Handbags with outer surface of leather, composition leather, or patent leather (197M units) held a little share of total exports.

From 2012 to 2022, the biggest increases were recorded for handbags with outer surface of plastic sheeting or of textile materials (with a CAGR of +0.9%), while shipments for the other products experienced mixed trends in the exports figures.

In value terms, the largest types of exported luggage and handbags were handbags with outer surface of leather, composition leather, or patent leather ($19.1B), handbags with outer surface of plastic sheeting or of textile materials ($17.2B) and cases and containers; trunks, suit-cases, vanity-cases, executive-cases, brief-cases, school satchels and similar containers, with outer surface of plastics or of textile materials ($16.1B), together comprising 94% of global exports.

Among the main exported products, handbags with outer surface of leather, composition leather, or patent leather, with a CAGR of +6.2%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other products experienced more modest paces of growth.

Export Prices By Type

The average luggage export price stood at $9.1 per unit in 2022, approximately mirroring the previous year. In general, export price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, luggage export price increased by +129.8% against 2016 indices. The pace of growth appeared the most rapid in 2017 an increase of 94%. The global export price peaked at $9.5 per unit in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exported products. In 2022, the product with the highest price was handbags with outer surface of leather, composition leather, or patent leather ($97 per unit), while the average price for exports of travel sets; for personal toilet, sewing, shoe or clothes cleaning ($0.7 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by handbags with outer surface of leather, composition leather, or patent leather (+7.5%), while the other products experienced more modest paces of growth.

Export Prices By Country

In 2022, the average luggage export price amounted to $9.1 per unit, remaining relatively unchanged against the previous year. Overall, export price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, luggage export price increased by +129.8% against 2016 indices. The pace of growth appeared the most rapid in 2017 an increase of 94% against the previous year. The global export price peaked at $9.5 per unit in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($11 per unit), while India ($2.2 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.8%), while the other global leaders experienced a decline in the export price figures.

Source: IndexBox Market Intelligence Platform