In 2019, the scale of domestic suitcase industry is expected to be nearly 37.9 billion, with a year-on-year growth of 7.56%. The industry scale CAGR is expected to reach 7.41% in the next five years. We believe that China's suitcase industry market space still has a large space, and will maintain a sustained and stable growth.
China's suitcase industry market scale is large and continues to grow steadily (100 million yuan, %)
Data source: public data collation
The number of people traveling in China continues to grow, pushing the luggage industry upward. (1) The number of tourists: ① The number of domestic tourists is expected to be 3.08 billion in the first half of 2019, with a year-on-year growth of 8.8%, maintaining a relatively high growth.
② In 2018, Chinese tourists made 149 million outbound trips, an increase of 14.7% over the previous year. (2) Passenger volume: ① China's civil aviation passenger volume reached 610 million person-times in 2018, an increase of 11% over the same period last year. The growth rate increased from 2015 and slowed down slightly in 2018, with a compound annual growth rate of 11.45% from 2008 to 2018. ② China's railway passenger volume reached 3.37 billion person-times in 2018, an increase of 9.4% over the same period last year, with a compound annual growth rate of 9.25% from 2009 to 2018.
Number of domestic tourists from 2012 to 2019
Data source: public data collation
Statistics on the number of Chinese outbound tourists from 2011 to 2018
Data source: public data collation
Domestic passenger traffic and growth rate
Data source: public data collation
Domestic railway passenger volume and growth rate
Data source: public data collation
Related reports: Report on Market Current Situation and Market Development Prospect of China Luggage Industry (2020-2026) released by Zhiken Consulting