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Philippines Luggage and Bags Market Outlook to 2023

INVC NEWS 

New Delhi,  

The report titled “Philippines Luggage and Bags Market Outlook to 2023 - By Bags (Handbags, Backpacks, Cross body Bags, Duffel Bags, Wallet Coin Pouches, Business Bags, Other Small Bags), By Luggage (Hard and Soft Case), By Distribution Channel” provides a comprehensive analysis of the Bags and Luggage Industry of Philippines. The report covers various aspects including market size, market segmentation, trends and developments, challenges, trade scenario, Porter’s five force analysis, competitive landscape. The report concludes with market projection and analyst recommendations highlighting the major opportunities and cautions.

Market Overview and Size

Philippines bags and Luggage Market is at the growing stage.  All major international players have their presence in the market and are competing aggressively to dominate. Bags are in very high demand as compared to luggage and the global leader LVMH dominated the market. There is no major domestic designer brand in the luxury segment.

The market has grown in terms of revenue due to the growth of domestic and outbound tourism, increase in the young and working population and increasing presence of bags and luggage retailers in the Philippines.

Bags and Luggage Market Segmentation

By Type of Pack (Bags and Luggage): Bags dominated the market in the Philippines majorly due to an extensive product reach which includes backpacks, cross body bags, handbags, wallets and coin pouches and most of these bag types are used on a daily basis and are considered a necessity and hence have a dominant share in the overall market.

By Demand in Region: Luzon is the largest and the most populous island in the Philippines and has the highest demand for bags and luggage in the country. Davos and Visayas regions also majorly contribute to the demand for bags and luggage in The Philippines.

By Market Structure: The bags and luggage market in the Philippines in 2018 was dominated by Unorganized Sector that accounted for more than half of total revenue in the bags and luggage market.

By Type of Bags and Luggage (Handbags, Cross body bags, Duffel bags, Luggage, Business Bags, Wallets and Other Coin Pouches): Handbags is the most demanded product followed by Backpacks. The Basic type of Handbag is affordable and appeals to the masses and has a relatively higher demand in the Philippines Market. The population between the Age group 10 years to 34 years Increased from 44 Million to 47 Million during the period 2013-2018, thereby driving the demand for backpacks in the industry.

By Distribution Channel (Department Stores, Bags and Luggage Specialist Retailers, Apparel, Footwear Specialist Retailers, stationers/office supply stores, Direct Selling, Hypermarkets, Internet Retail and others): Department Stores have dominated the bags and luggage sale in the Philippines followed by Bags and Luggage Specialist Retailers in 2018 in terms of revenue. Internet Retail is on the rise in the Philippines and the sales through online retail centers is expected to increase in the future.

Competitive Landscape

The Philippines Bags and Luggage market is highly fragmented. LVMH Moët Hennessy Louis Vuitton is the market leader and has the highest market share in the Bags and Luggage market in the Philippines on the basis of revenue in 2018. The other major players in the market are AVON Philippines Inc., VF Corp., Samsonite International, Adidas, and others. The major parameters on which the companies compete in the market are price, quality, utility and retail presence.

Philippines Bags and Luggage Market Future Outlook

In future, it is anticipated that Philippines Luggage and Bags market in terms of revenue will increase at a positive CAGR during the period 2018–2023E. In the Philippines, it is expected that the demand for both bags and luggage will be further augmented largely due to increasing domestic tourism and innovation in luggage and bags.

Key Segments Covered:-

By Demand in Region, 2018

Luzon

Visayas

Davao

By Application/Use, 2018

Leisure

Business

By Market Structure, 2018

Unorganized

Organized

By Bags, 2013-2018

Backpacks

Business Bags

Crossbody Bags

Duffel Bags

Handbags (basic, mid, luxury)

Wallet and coin pouches

Other small bags

By Luggage Type

Hard Case

Soft Case

By Luggage Category

Wheel

Non-Wheel

By Distribution Channel, 2013-2018

Hypermarkets

Apparel and footwear specialist’s retailers

Bags and luggage specialist’s retailer

Stationers/office supply stores

Other leisure and personal goods specialist retailers

Department stores

Variety stores

Warehouse clubs

Other non-grocery specialist

Direct Selling

Internet Retailing

Key Target Audience

Luggage Manufacturers

Bags Manufacturer

Distributors

Time Period Captured in the Report:-

Historical Period: 2013-2018

Forecast Period: 2019-2023

Companies Covered:-

Louis Vuitton (LVMH)

Avon Products Inc.

VF Corporation

Samsonite international SA

Adidas AG

Nike Incorporated

Herschel Supply Co.

Herme’s

Marithé et François Girbaud

Key Topics Covered in the Report:-

Value Chain Analysis

Market Size, 2013-2018

Market Segmentation

Trends and Developments

Challenges

Trade Scenario

Porter’s Five Forces Analysis

Competitive Scenario

Company Profile of Major Players

Future Market Size 2018-2023E

Future Market Segmentation 2023E

Analyst Recommendation

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