PROSPECTS AND OPPORTUNITIES
Continuous expansion of local and international travel routes will boost demand
Demand for bags and luggage in the Philippines is set to steadily increase over the forecast period, driven by ongoing enhancements in the country’s travel infrastructure. With the Department of Tourism’s continuous development of programmes such as visa reforms and airport improvements, including the Clark International Airport (CRK), more travellers are expected to be encouraged to travel both domestically and internationally, which is likely to positively impact the demand for luggage and bags, as these are essential for travel.
Innovation will embrace fashion and functionality, with personalisation remaining ongoing trend
During the forecast period, the shift toward functional fashion is anticipated to drive innovation in bag and luggage designs, resulting in an increase in product variety. Shoppers seeking utility are gravitating toward designs with multiple pockets and box-type structures, offering better space for organisation.
Pop-up bazaars will provide avenue for local bag entrepreneurs, while e-commerce will continue to gain traction
With the continuous expansion of malls, particularly in rural areas like the Visayas and Mindanao, consumers have greater access to a variety of brands, including local offerings. In addition to mall expansion, bazaar events have become a crucial avenue for local entrepreneurs to showcase their brands, with many new bag labels such as The Good Juju Club, The Good Gang, and others offering affordable alternatives to more established brands.
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Overview:
Understand the latest market trends and future growth opportunities for the Bags and Luggage industry in Philippines with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Bags and Luggage industry in Philippines, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Bags and Luggage in Philippines report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Bags and Luggage in Philippines?
- Which are the leading brands in Bags and Luggage in Philippines?
- How significant is tourism in determining sales and demand for Bags and Luggage in Philippines?
- How are COVID-19 and global recession impacting demand for Bags and Luggage in Philippines?
- In the wake of COVID-19, how soon can Bags and Luggage be expected to recover? Where are the opportunities for growth now?
- Where is future growth expected to be most significant?
Bags and Luggage in the Philippines - Category analysis
KEY DATA FINDINGS
Bags outperform luggage in terms of growth
Local brands maintain strong consumer loyalty as international players ramp up marketing investments
Rise of "premium-luxury" bags, driven by social media and influencer marketing
Continuous expansion of local and international travel routes will boost demand
Innovation will embrace fashion and functionality, with personalisation remaining ongoing trend
Pop-up bazaars will provide avenue for local bag entrepreneurs, while e-commerce will continue to gain traction
Personal Accessories in the Philippines - Industry Overview
Personal accessories in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for personal accessories?
DISCLAIMER
The following categories and subcategories are included:
Bags and Luggage
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- Backpacks
- Business Bags
- Crossbody Bags
- Duffel Bags
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- Non-Luxury Handbags
- Luxury Handbags
- Wallet and Coin Pouches
- Other Small Bags
- Luggage
Bags and Luggage
Bags and Luggage includes bags and cases which serve common everyday purposes or specific functions during travel, sports, or formal occasions. However, all sports equipment bags (e.g. golf, tennis, and bowling), insulated food and beverage bags, and musical instrument cases are excluded.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Bags and Luggage research and analysis database.
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