The value of the UK market for hand luggage and leather goods was £1.03bn in 2002 and while market growth and consumer expenditure are demonstrating recovery, the UK manufacturing industry is still in decline.
August, 2003 -- Research and Markets have announced the addition of the "Hand Luggage & Leather Goods Market Report 2003" report to their offering.
We estimate that the value of the UK market for hand luggage and leather goods was £1.03bn in 2002. The industry experienced a period of uncertainty after the global impact of the events of 11th September. However, while market growth and consumer expenditure are demonstrating recovery, the UK manufacturing industry is still in decline.
This report discusses market trends of the hand luggage, business cases, handbags and small leather goods sectors. The past 5 years have seen significant change within these sectors of the industry, with handbag sales increasing at a greater rate than those for small leather goods and hand luggage. Hand luggage has a 37.2% share of the total market compared with 24% in 1998 and small leather goods has a 34.6% share, down from 58.4% in 1998.
A general global downturn in consumer spending, compounded by the slowing of the US and Japanese economies and anxieties over tensions in the Middle East, has had a significant impact on the luxury fine leather and travel goods market. In 2002/2003 fears of terrorism and the SARS (Severe Acute Respiratory Syndrome) crisis have had a negative impact on global travel flows; in particular, the important luxury goods consumers from Japan and Hong Kong are staying at home. At the same time, increasing competition from developing industries in Asia adds more pressure on UK manufacturers catering for the lower end of the market.
However, as the industry emerges from the aftermath of the events of 11th September, the foot-and-mouth disease in the UK and the war in Iraq, the future of the hand luggage and leather goods industry is increasingly promising for 2003 and 2004.
Market growth is expected to continue and, with renewed efforts from the British Luggage and Leathergoods Association (BLLA) to raise the global profile of UK leather, growth in the UK industry is becoming even more possible.
For a complete index of this report click on http://www.researchandmarkets.com/reports/35073
REPORT DATA SUMMARY:
Hand Luggage & Leather Goods Market Report 2003
Category: Consumer & Personal
URL: www.researchandmarkets.com/reports/35073
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