Report Update: May 1, 2024

Hong Kong SAR, China - Luggage And Handbags - Market Analysis, Forecast, Size, Trends and Insights

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Luggage Price in Hong Kong SAR - 2023

Luggage Price in Hong Kong SAR (CIF) - 2022

In 2022, the average luggage import price amounted to $37 per unit, which is down by -14.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.6%. The pace of growth appeared the most rapid in 2021 when the average import price increased by 21%. As a result, import price reached the peak level of $44 per unit, and then shrank in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($74 per unit), while the price for China ($27 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+4.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Luggage Price in Hong Kong SAR (FOB) - 2023

In June 2023, the average luggage export price amounted to $68.8 per unit, reducing by -5.5% against the previous month. Over the period under review, export price indicated a slight expansion from June 2022 to June 2023: its price increased at an average monthly rate of +1.1% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on June 2023 figures, luggage export price decreased by -33.6% against February 2023 indices. The pace of growth appeared the most rapid in November 2022 an increase of 44% m-o-m. Over the period under review, the average export prices attained the maximum at $104 per unit in February 2023; however, from March 2023 to June 2023, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In June 2023, the country with the highest price was Macao SAR ($718 per unit), while the average price for exports to Germany ($8.4 per unit) was amongst the lowest.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+4.9%), while the prices for the other major destinations experienced more modest paces of growth.

Luggage Imports in Hong Kong SAR

In 2022, overseas purchases of luggage and handbags were finally on the rise to reach 61M units for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, recorded a abrupt downturn. Over the period under review, imports attained the peak figure at 93M units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, luggage imports fell to $2.3B in 2022. Over the period under review, imports, however, showed a abrupt curtailment. The growth pace was the most rapid in 2021 when imports increased by 2.8% against the previous year. Imports peaked at $3.1B in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Import of Luggage in Hong Kong SAR (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
France	994	1,024	890	825	-6.0%
Italy	648	377	500	439	-12.2%
China	764	440	500	429	-17.5%
Switzerland	331	177	162	186	-17.5%
South Korea	12.2	97.9	101	75.6	83.7%
Others	338	338	369	332	-0.6%
Total	3,088	2,454	2,522	2,287	-9.5%

Top Suppliers of Luggage to Hong Kong SAR in 2022:

France (25.3M units)
China (16.0M units)
Italy (7.9M units)
Switzerland (4.0M units)
South Korea (1.0M units)

Luggage Exports in Hong Kong SAR

For the third year in a row, Hong Kong SAR recorded decline in overseas shipments of luggage and handbags, which decreased by -6.5% to 11M units in 2022. Over the period under review, exports showed a abrupt contraction. The smallest decline of -1.8% was in 2021. The exports peaked at 17M units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, luggage exports declined to $2B in 2022. Overall, exports saw a abrupt contraction. The pace of growth appeared the most rapid in 2021 with an increase of 3.5% against the previous year. Over the period under review, the exports hit record highs at $2.6B in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Export of Luggage in Hong Kong SAR (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	850	1,107	596	624	-9.8%
Macao SAR	341	218	452	326	-1.5%
South Korea	123	57.2	448	323	38.0%
United States	216	114	132	112	-19.7%
Taiwan (Chinese)	109	119	143	103	-1.9%
Japan	174	99.6	94.2	91.0	-19.4%
Italy	99.0	48.6	57.8	50.4	-20.2%
Netherlands	71.2	61.7	29.8	40.2	-17.3%
Australia	62.9	44.6	46.0	37.4	-15.9%
United Kingdom	64.9	45.2	37.9	36.3	-17.6%
France	73.1	47.4	29.7	35.5	-21.4%
Spain	33.2	21.9	27.5	26.9	-6.8%
Germany	45.3	21.9	12.9	19.7	-24.2%
Others	323	183	158	167	-19.7%
Total	2,585	2,189	2,266	1,992	-8.3%

Top Export Markets for Luggage from Hong Kong SAR in 2022:

China (3253.0K units)
Macao SAR (1234.9K units)
South Korea (943.2K units)
United States (787.4K units)
Japan (721.1K units)
France (510.1K units)
Taiwan (Chinese) (434.3K units)
Italy (342.1K units)
Netherlands (289.2K units)
Germany (284.0K units)
United Kingdom (269.6K units)
Australia (223.7K units)
Spain (204.9K units)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the luggage market in Hong Kong SAR, China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 15121210 - Trunks, suitcases, vanity cases, briefcases, school satchels and similar containers of leather, composition leather, patent leather, plastics, textile materials, aluminium or other materials
Prodcom 15121220 - Handbags of leather, composition leather, patent leather, p lastic sheeting, textile materials or other materials (including those without a handle)
Prodcom 15121270 - Travel sets for personal toilet, sewing, or shoe or clothes cleaning (excluding manicure sets)

Country coverage:

Hong Kong SAR

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Hong Kong SAR, China
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023