Global Market Research Reports : Ken Research: Philippines Bags Market

Showing posts with label Philippines Bags Market. Show all posts

Tuesday, September 17, 2019

Demand for Luggage and Bags in Philippines is Driven by Increase in Working Population, Growing Retail Presence and Growth in Domestic Tourism: Ken Research

“The Unorganized Sector dominated the Luggage and Bags market in the Philippines as Consumers are price conscious and are willing to compromise on quality to purchase an affordable product.”

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” by Ken Research suggested that the luggage and bags market in The Philippines has been growing due to increasing young and working people and also due to the changing perception of people towards bags and luggage from utility to a lifestyle product. The market is expected to register a positive CAGR of 5.3% in terms of revenue during the forecast period 2018-2023E.

Increase in Domestic Tourism: Tourism Industry is extremely vital for the Philippines contributing about 12% to the national coffers every year. Domestic tourism in The Philippines is growing continuously in the country. In 2018 alone, more than 40 million Filipinos visited domestic tourist destinations and will continue to grow in the coming years, thus increasing the sale of bags and luggage in The Philippines.

Growing Retail Presence: The bags and luggage manufacturers are increasing their retail presence in the Philippines with even big players like Louis Vuitton opening their second store in the Philippines. The retailers are also increasing their presence online which is evident from the 32% rise in Internet Retailing during the period 2013 to 2018.

Increase in Distribution Channels: The major players in the Philippines are looking to increase their retail presence both online as well as offline to increase the sale of their products. The brands have been looking to increase their customer reach through malls in the major cities and also through specialist retail stores in smaller cities. The brands are also selling their products through hypermarkets, office and stationery supply stores and footwear and apparel stores especially in smaller cities where there are either no malls or are very few in number.

Rise in Innovation: Innovation plays a major role in the luggage and bags market as there are different brands offering similar products but they can differentiate themselves through innovation, either through innovation in design or through innovation in selling the product. Many companies are using technology for innovation, for instance, Modobag uses motorized technology in the luggage for its customers to ride on and Herschel Supply Co. has come up with luggage that has the in-built charger and a USB port for customers to charge their mobile phones on the go. The labor force in the Philippines has also increased from 40 Million in 2013 to 44 Million in 2018, thereby increasing the demand for bags in the market.

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 specialists

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:-

Philippines Cross body Bags Market

Philippines Duffel Bags and Wallet Coin Pouch

Philippines Business Bag Market

Bags and Luggage in the Philippines

Luggage and Bags sale in Philippines

Luggage Retailers Philippines

Luggage Bags Target Consumers Philippines

Luggage bags demand Philippines

Luggage Importers Philippines

Bag Exporters Philippines

Bags and Luggage Sales Davao

Bags and Luggage Sales Visayas

Samsonite Philippines Luggage Market Share

VFC Bags and Luggage Sales Market Philippines

For More Information, Refer To Below Link:-

Philippines Luggage and Bags Market Outlook

Related Reports:-

Saudi Arabia Bags and Luggage Market Outlook To 2023 – By Type (Backpacks, Business Bags, Cross Body Bags, Duffel Bags, Handbags, Wallet And Other Bags); By Handbag Price Segment (Luxury, Premium, Economy)

Global Luggage & Bags Zipper Market 2018 - By Manufacturers, Regions, Type and Application, Forecast To 2023

Global Smart Luggage Market 2018 - By Manufacturers, Regions, Type and Application, Forecast To 2023

Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249

Monday, September 16, 2019

Philippines Luggage and Bags Market Outlook to 2023: Ken Research

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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 the 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.