The market is dominated by foreign suppliers, as imports account for 85.2% of total market size in 2022. Households drive market demand, with household spending representing 74.4% of total demand in 2022. Mexico has the third largest market size for luggage, handbags and saddlery regionally, with demand reaching USD1.6 billion in 2022. Ruvel Co SA de CV is the largest company in Mexico, generating 2.1% of the industry’s total production value in 2022. The industry is fragmented, with the top five companies generating 4.8% of total production value in 2022. The total number of companies decreases in 2022, to 12,968 units. The costs of the industry increase by 11% in 2022, largely driven by rising B2B costs. The industry’s profitability increases and stands at 32.3% of production value in 2022, the third highest regionally. The industry’s exports share increases in 2022 to 76.8% of total production output. With production value of USD509 million, Mexico accounts for 19.5% of the Latin America total in 2022.
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This Euromonitor industrial report provides unique information on Luggage, Handbags and Saddlery in Mexico: ISIC 1912. With this industrial report, you’ll be able to explore the industry from its sources of supply to its buyers. The Luggage, Handbags and Saddlery in Mexico: ISIC 1912 report includes: Industry datagraphics including production data, exports, imports, cost structure, and profitability
This is the aggregation of cordage, rope, twine and netting, finishing of textiles, made-up textile articles, spinning of textile fibers; weaving of textiles, tanning and dressing of leather, and technical textiles, labels, badges and other textile products.
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