Luggage Market to Exceed $45 Billion by 2010, Driven by Surge in Travel & Tourism Industry, According to New Report by Global Industry Analysts, Inc.

Luggage is increasingly becoming a fashion accessory with ergonomic designs, trendy color combinations, textures and clean contoured lines. Global Luggage Market is predicted to reflect a CAGR of about 3.4% for the period 2001-2010. United States is likely to remain the largest luggage market with sales projected at US$18.8 billion by 2010. Asia-Pacific is projected to be the fastest growing luggage market, registering a CAGR of about 5.4% for the years 2001-2010.

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Luggage: A Global Strategic Business Report

San Jose, California (PRWEB) July 12, 2007

Being one of the world's largest industries, travel and tourism industry greatly influences the Luggage Market. Almost any event that affects the travel industry similarly affects the luggage industry. In fact, even a shallow cyclical fall in travel industry would affect the luggage market, and weaken growth prospects. Global international tourist arrivals reached 827 million in 2006. Increasing cross-border and internal migrations is influencing the luggage market to a great extent. Migration from one place to another, or from one country to another is indirectly escalating the demand for luggage, which plays a vital role in travel.

As per the findings of the new report, luggage producers are focusing more on research and development, expending their money and time, to design and manufacture luggage with high quality materials and advanced features. The linkage of luggage with fashion demands luggage suppliers to constantly innovate to meet evolving lifestyles and trends. The luggage industry is employing state-of-art technology and scientific research to develop sophisticated products with innovative designs that effectively reduce the neck pain, back stress and shoulder distress in the travelers. Among the product types, Sports Bags, Backpacks & Daypacks, is projected to be the fastest growing segment, exhibiting a CAGR of 3.8% through 2001-2010. On the other hand, Suitcases/Pullmans, Casual Bags & Garment Bags Market, represents the largest segment, with estimated sales of US$17.8 billion for 2006.

Demand for lifestyle luggage products is gradually picking up and is primarily driven by highly fashion-conscious consumers. Travelers are increasingly matching luggage with the clothes they wear. Fashion-oriented luggage such as backpacks, sports bags, and computer cases, which suit their requirements and give a stylish look are therefore preferred. Of late, the demand for luggage-courier services increased due to the new baggage polices and security procedures introduced by the airlines. Luggage-courier service companies offer door-to-door services, which include picking up the luggage from traveler's house and delivering it to the final destination.

GIA's comprehensive research report titled "Luggage: A Global Strategic Business Report" analyzes similar market trends with hard-to-find data and analytics for key regions such as the United States, Japan, Germany, France, UK, Italy, Asia-Pacific (excluding Japan) and others alongside up and coming markets such as Latin America and the Middle East.

The study also sheds light on trends and issues prevalent in the industry. Also discussed are in depth competitive analysis of leading manufacturers in the luggage industry, amply illustrated with numerous data rich, market data tables depicting major research findings (market shares and distribution channel shares among others). Demand patterns quantified in value terms across major product types include, Suitcases/Pullmans, Casual Bags & Garment Bags; Business Bags; and Sports Bags, Backpacks & Daypacks. Dominant global forces in the market are Atlantic Luggage, Eagle Creek, Nike, Samsonite and VIP Industries among others. In addition to global leaders, the report offers detailed profiles of the dominating players in the US luggage market - Boyt Harness Company, LLC, Hartmann Inc., JanSport, Inc. among others. Delsey of France, Etienne Aigner AG of Germany, Mandarina Duck of Italy and several other regional players are also profiled in the report. The study enumerates recent developments, mergers, acquisitions, and other strategic industry activities, and is an easy guide to What, Why, When, How, Where, and Who of the industry.

For complete description of this research report, please visit http://www.strategyr.com/MCP-1189.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs more than 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of more than 60,000 smaller research products including company reports, market trend reports and industry reports encompassing all major industries worldwide.

Global Industry Analysts, Inc.
Telephone 408-528-9966
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Web Site http://www.StrategyR.com

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