Malaysia: Luggage Market 2024

Luggage Market Size in Malaysia

In 2022, after three years of decline, there was significant growth in the Malaysian luggage market, when its value increased by X% to $X. In general, consumption enjoyed a notable increase. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Luggage Production in Malaysia

In value terms, luggage production soared to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a abrupt decrease. Luggage production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

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Luggage Exports

Exports from Malaysia

In 2022, overseas shipments of luggage and handbags increased by X% to X units, rising for the second year in a row after two years of decline. Over the period under review, exports recorded a prominent increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, luggage exports soared to $X in 2022. In general, total exports indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for luggage exports from Malaysia, accounting for a X% share of total exports. Moreover, luggage exports to the United States exceeded the volume sent to the second major destination, Turkey (X units), threefold. Singapore (X units) ranked third in terms of total exports with an X% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (X% per year) and Singapore (X% per year).

In value terms, Singapore ($X) remains the key foreign market for luggage and handbags exports from Malaysia, comprising X% of total exports. The second position in the ranking was taken by Turkey ($X), with a X% share of total exports. It was followed by Indonesia, with an X% share.

From 2012 to 2022, the average annual growth rate of value to Singapore amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (X% per year) and Indonesia (X% per year).

Export Prices by Country

The average luggage export price stood at $X per unit in 2022, waning by X% against the previous year. Over the period under review, the export price continues to indicate a noticeable descent. The most prominent rate of growth was recorded in 2013 an increase of X%. As a result, the export price attained the peak level of $X per unit. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

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

Luggage Imports

Imports into Malaysia

In 2022, overseas purchases of luggage and handbags were finally on the rise to reach X units for the first time since 2018, thus ending a three-year declining trend. Overall, imports, however, showed a slight descent. The growth pace was the most rapid in 2013 with an increase of X%. As a result, imports attained the peak of X units. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, luggage imports skyrocketed to $X in 2022. In general, imports continue to indicate a remarkable increase. The growth pace was the most rapid in 2013 when imports increased by X%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest luggage supplier to Malaysia, with a X% share of total imports. Moreover, luggage imports from China exceeded the figures recorded by the second-largest supplier, India (X units), more than tenfold. Cambodia (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Cambodia (X% per year).

In value terms, the largest luggage suppliers to Malaysia were China ($X), France ($X) and Cambodia ($X), with a combined X% share of total imports.

In terms of the main suppliers, Cambodia, with a CAGR of X%, saw the highest growth rate of 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

The average luggage import price stood at $X per unit in 2022, increasing by X% against the previous year. Over the period under review, the import price posted a strong expansion. The growth pace was the most rapid in 2020 an increase of X%. Over the period under review, average import prices reached the maximum in 2022 and is likely to see gradual growth in the near future.

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 France ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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