The market is dominated by foreign suppliers, as imports account for 89.3% of total market size in 2022. Households drive market demand, with household spending representing 81.8% of total demand in 2022. South Korea has the third largest market size for luggage, handbags and saddlery regionally, with demand reaching USD8.3 billion in 2022. Nature Holdings Co Ltd, The is the largest company in South Korea, generating 18.9% of the industry’s total production value in 2022. The industry is concentrated, with the top five companies generating 61.2% of total production value in 2022. The total number of companies increases in 2022, to 4,958 units. The costs of the industry decrease by 12.8% in 2022, largely driven by declining B2B costs. The industry’s profitability increases and stands at 1.0% of production value in 2022, the 13th highest regionally. The industry’s exports share increases in 2022 to 35.3% of total production output. With production value of USD903 million, South Korea accounts for 1.6% of the Asia Pacific total in 2022.
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This Euromonitor industrial report provides unique information on Luggage, Handbags and Saddlery in South Korea: 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 South Korea: 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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