Report Update: May 1, 2024

Nigeria - Luggage And Handbags - Market Analysis, Forecast, Size, Trends and Insights

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Luggage Price in Nigeria - 2022

Luggage Price in Nigeria (CIF) - 2022

In 2022, the average luggage import price amounted to $0.9 per unit, with an increase of 15% against the previous year. Overall, the import price recorded a measured increase. The growth pace was the most rapid in 2013 an increase of 84%. The import price peaked at $3.5 per unit in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($3.2 per unit), while the price for China stood at $0.6 per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+0.6%).

Luggage Price in Nigeria (FOB) - 2022

In 2022, the average luggage export price amounted to $10 per unit, declining by -43.3% against the previous year. Overall, the export price, however, enjoyed a moderate expansion. The pace of growth appeared the most rapid in 2013 when the average export price increased by 353% against the previous year. As a result, the export price reached the peak level of $31 per unit. From 2014 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($104 per unit), while the average price for exports to Cameroon ($1.2 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 the United States (+39.5%), while the prices for the other major destinations experienced more modest paces of growth.

Luggage Imports in Nigeria

Luggage imports into Nigeria skyrocketed to 24M units in 2022, picking up by 28% compared with the year before. Over the period under review, total imports indicated a significant increase from 2019 to 2022: its volume increased at an average annual rate of +20.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -3.5% against 2020 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 83%. As a result, imports attained the peak of 24M units. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, luggage imports soared to $21M in 2022. In general, total imports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +14.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +48.3% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Import of Luggage in Nigeria (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	11.9	16.1	10.2	12.8	2.5%
United States	0.7	0.6	0.9	1.8	37.0%
Others	1.6	1.5	3.3	6.5	59.6%
Total	14.3	18.2	14.3	21.1	13.8%

Top Suppliers of Luggage to Nigeria in 2022:

China (21.9M units)
United States (0.6M units)

Luggage Exports in Nigeria

In 2022, shipments abroad of luggage and handbags was finally on the rise to reach 12K units after two years of decline. Overall, exports, however, faced a abrupt downturn. The exports peaked at 17K units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, luggage exports reduced to $117K in 2022. Over the period under review, exports, however, continue to indicate a abrupt decrease. The growth pace was the most rapid in 2021 when exports increased by 25%. Over the period under review, the exports attained the maximum at $142K in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Export of Luggage in Nigeria (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Cote d'Ivoire	8.9	11.1	11.8	12.0	10.5%
Congo	4.6	4.0	7.0	6.2	10.5%
Italy	9.7	6.3	6.0	6.2	-13.9%
Niger	11.9	9.8	3.0	6.1	-20.0%
Cameroon	7.9	6.6	2.3	5.4	-11.9%
Burkina Faso	5.5	4.5	3.9	5.2	-1.9%
South Africa	1.3	2.2	3.6	4.2	47.8%
India	13.4	4.2	4.8	4.2	-32.1%
Benin	5.0	5.4	2.2	3.1	-14.7%
Angola	2.2	1.5	2.7	2.3	1.5%
Pakistan	2.4	0.9	1.2	1.3	-18.5%
Others	69.0	47.2	80.9	60.7	-4.2%
Total	142	104	130	117	-6.3%

Top Export Markets for Luggage from Nigeria in 2022:

Cameroon (4451.0 units)
Niger (1417.0 units)
Congo (1277.0 units)
India (1241.0 units)
Burkina Faso (763.0 units)
Italy (420.0 units)
Pakistan (401.0 units)
South Africa (329.0 units)
Cote d'Ivoire (299.0 units)
Angola (271.0 units)
Benin (216.0 units)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the luggage market in Nigeria. 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:

Nigeria

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Nigeria
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