The development trend of China's luggage industry in 2023: the industry market prospects are broad, and the sales channels are diversified

Luggage is a general term for bags, is used to hold things in a variety of bags, including general shopping bags, handbags, handbags, wallets, backpacks, shoulder bags, satchels, Fanny packs and a variety of trolley boxes. With the continuous improvement of people's living and consumption levels, a variety of bags have become indispensable accessories around people. At the same time, people's requirements for luggage products are not only strengthened in practicality, but also have become the mainstream influencing factors in decorative aspects.

The upstream raw materials of the luggage industry chain mainly include aluminum alloy, leather, plastic, cloth, sponge and so on; The middle reaches is the manufacturer of bags, bags according to the production material can be roughly divided into leather bags, cloth bags, PU bags, PVC bags.

Bags as our daily life and travel commonly used storage tools, is one of the important commodities required for travel. According to the statistics of the Ministry of Culture and Tourism, the number of domestic tourists in 2017-2022 fluctuated up and down, and the overall trend showed a decline. In 2022, the number of domestic tourists in China was 2.53 billion, 716 million fewer than that in 2021, down 22.06%. From 2020 to 2022, due to the impact of the novel coronavirus epidemic, many places in China have implemented epidemic prevention and control measures, and the cross-regional circulation of domestic personnel has been restricted, which has caused a serious impact on China's tourism industry, and the domestic tourist number has declined significantly, and the market demand for China's luggage industry has a linkage impact, and the market demand for luggage has declined simultaneously. With the implementation of China's epidemic prevention new policy, the impact of the epidemic on the travel consumer market has gradually decreased and disappeared, in the long run, China's tourism and luggage market space is still very large.

After 20 years of rapid development, China's luggage industry has accounted for more than 70% of the global share. At present, our country is not only the manufacturing center of the world's luggage industry, but also the world's largest luggage consumer market. According to China Customs, from 2016 to 2022, China's luggage export amount is much higher than the import amount, in 2022, China's luggage export amount is 35.57 billion US dollars, up 27.68%; Imports amounted to $5.47 billion, down 13.99 percent year-on-year. In 2022, the domestic epidemic repeated disturbance, the consumer market continued to downturn, the demand for high-end bags and bags declined, resulting in a decline in the amount of luggage imports, in the fourth quarter of 2022, China's epidemic prevention "new ten" policy landing implementation, import and export trade channels gradually recovered, luggage exports continue to maintain an upward trend.