Handbag Market Overview in Asia
In value terms, handbag production dropped rapidly to $ in estimated in export prices. Over the period under review, production recorded a slight decrease. The pace of growth was the most pronounced in 2019 when the production volume increased by % y-o-y. The level of production peaked at $ in 2008; however, from 2009 to , production stood at a somewhat lower figure.
The country with the largest volume of handbag production was China ( units), comprising approx. % of total volume. Moreover, handbag production in China exceeded the figures recorded by the second-largest producer, India ( units), twofold. Pakistan ( units) ranked third in terms of total production with a % share.
In China, handbag production plunged by an average annual rate of -% over the period from 2007-. In the other countries, the average annual rates were as follows: India (+% per year) and Pakistan (+% per year).
The size of the handbag market in Asia dropped to $ in , waning by -% 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). Over the period under review, consumption, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of % against the previous year. As a result, consumption attained the peak level of $. from 2014 to , the growth of the market remained at a lower figure.
From 2007 to , the most notable rate of growth in terms of handbag consumption, amongst the main consuming countries, was attained by the Philippines, while handbag consumption for the other leaders experienced more modest paces of growth.
In value terms, China ($), Bangladesh ($) and Indonesia ($) constituted the countries with the highest levels of market value in , together accounting for % of the total market. India, Pakistan, Japan and the Philippines lagged somewhat behind, together comprising a further %.
The Philippines saw the highest rates of growth with regard to market size, among the main consuming countries over the period under review, while handbag market for the other leaders experienced more modest paces of growth.
In , the highest levels of handbag per capita consumption was registered in the Philippines ( units per persons), followed by Pakistan ( units per persons), Bangladesh ( units per persons) and China ( units per persons), while the world average per capita consumption of handbag was estimated at units per persons.
From 2007 to , the average annual growth rate of the handbag per capita consumption in the Philippines totaled +%. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Pakistan (-% per year) and Bangladesh (+% per year).