Global Luggage Market
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1 Global Luggage Market
2 Executive Summary Industrial revolution and scientific, social and political developments in the past century have changed the pattern and quantum of travelling forever. Being a necessary part of travelling, the demand for luggage inevitably witnessed a tremendous leap. Last few decades have also seen the use of luggage in diverse applications giving a remarkable boost to the luggage market at global level. Amid the recent global economic downturn, the worldwide luggage industry witnessed reduced demand as people were forced to cut down expenses on travel and tourism. However, the improved economic prospects for 2010 translated into higher luggage sales for the period. Furthermore, in the wake of favorable market conditions the global luggage market is projected to grow at a CAGR of about 4.5% during North America and Europe are the largest luggage markets, collectively accounting for a lion's share of the global luggage sales. The Asian region including Japan closely follows as other significant regional market, with China and India, witnessing the maximum growth. The emerging regions of the world are expected to record rapid growth in the luggage market over the long term, given the escalating demand for the same as a result of increased spending on travel and tourism. The casual bag product category holds the largest share of the overall luggage market. Luggage manufacturers across the globe are increasingly focusing on targeted advertising and promotion activities as well as on research, development, and designing of new products. Further, luggage as a fashion accessory has recently become a norm in the global market leading to its increased usage. This in turn has encouraged the global suppliers of luggage to constantly innovate in order to meet the evolving needs of consumers. Moreover, lately, the need for better and expanded distribution network with new points of sale has also gained importance. Travel and tourism activity, inevitably, remains the major growth driver of luggage market, coupled with economic health of the country and people's buying power. The global luggage market is highly fragmented and intensely competitive with numerous branded as well as unbranded or unorganized players operating in the market. Samsonite remains the undisputed leader in the worldwide luggage market, followed by VF Corporation, Tumi, Ace, Delsey, VIP, and Rimowa, among others. Competition is largely based on the brand name; product pricing, quality, and design; product technology; and advertising, among other such factors. The report analyzes the global luggage market. Also, the North American, European, Asian and Latin American markets are being presented in the report. The report discusses the key drivers and issues related to the global luggage market. The major players of the industry have also been profiled in the report.
3 Global luggage sales noted marked recovery in 2010 after suffering a steep decline the previous year. Global Luggage Market Retail Sales: The global luggage market retail sales reached approx. US$...billion in 2010, up..% over the prior year, due to the following key factors..,, and., among others. Among the three major categories of luggage: Casual, business, and travel bags,.accounted for the largest share of about % of the global luggage sales in 2010, immediately followed by. Imports of travel goods (including handbags), world over, increased by about.% to reach US$...billion for Breakdown of Global Luggage Retail Sales by Segment: 2010 The three major luggage importing countries:.,, and. collectively accounted for more than % of the world imports in Global exports of travel goods (including handbags) increased by approx % in 2010, as against a decline of % in The top exporter of travel goods:.. exported goods (including handbags) worth US$...billion in 2010, representing..% share of the world exports.
4 US$ Billion US$ Billion Developed regions dominance continues while developing regions share in the global luggage market is fast expanding Geographical Segmentation of the Global Luggage Market: 2010 Geographically, and are the largest luggage markets, however, Asia including Japan accounted for highest revenue generation of about % in After suffering steep decline in 2009, due to., the North American luggage market recovered to achieve a new high in 2010, with sales reaching approx US$.. billion. The Asian luggage market retail sales (including Japan) marked an increase of % in 2010 over The growth in the Asian luggage market, with leading regions being.,., and.., is reflective of following key factors... North America Luggage Market: Asian (Including Japan) Luggage Market- Retail Sales:
5 Global luggage market is poised for a steady and long term growth amid intense competition Global Luggage Market Share by Retail Sales (%): 2010 The intensely competitive global luggage market is led by., with market share of about % as noted for 2010, followed by other players such as.,., and.., among others. The global luggage market retail sales are projected to reach nearly US$...billion by 2014, expanding at a CAGR of approx..% during Global Luggage Market Retail Sales Forecast: F The factors responsible for a steady and continuous growth in the luggage market, world over, include In addition to the conventional driving factors, change in... and rising popularity of.. are also significantly driving the world demand for luggage and allied products.
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