New Delhi, September 18, 2019: 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
For More Information, Refer To Below Link:-
Philippines Luggage and Bags Market Outlook
Corporate Comm India (CCI Newswire)
