Market Size Forecast and Development Trend Analysis of China's Luggage Industry in 2018 (Chart)
2019-01-19
The luggage industry is a vibrant and fast-moving consumer goods sector with promising market prospects. In the first half of 2018, China's GDP maintained rapid growth at 6.8%, marking the 12th consecutive quarter of growth within the 6.7-6.9% range. Per capita disposable income of urban residents increased by 8.7% year-on-year; in the last 30 years, the number of domestic tourist visits in China has increased nearly 20-fold, and tourism consumption will help drive the growth of the luggage market. On the other hand, e-commerce and "Internet+" business innovation models are profoundly impacting traditional manufacturing, and online sales of luggage have grown rapidly in recent years.
Overall, the economic environment for China's luggage industry is improving, and luggage companies are growing rapidly. Coupled with convenient international exchanges, a favorable export environment has been created. It is expected that by the end of 2018, the national luggage industry will achieve a market size of 197.2 billion yuan, and by 2022, the market size is expected to exceed 250 billion yuan.
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Fujian Huian Xinming Light Industry Co., Ltd.
Email: jeremy@xmbags.com
Address: Zengcuo Industrial Zone, TuZhai Town, Hui'an County, Quanzhou City, Fujian Province
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