India Luggage and Bags Market Growth, Trends, Revenue, Business Challenges and Future Share 2030: MarkNtel Advisors

Market Insights

As per recent research by MarkNtel Advisors, The India Luggage and Bags Market is estimated to grow at a CAGR of around 14.4% during the forecast period, i.e., 2024-30.

India Luggage and Bags Market Driver:

Expansion of MICE Events to Catalyze the Market Expansion – During the past few decades, India has experienced robust economic growth and corporate sector expansion due to conducive government support and a business-friendly environment. The growth of business establishments across the different parts of the country has substantially increased Meetings, Incentives, Conferences, and Exhibitions (MICE) activities in the country. Due to this, the frequency of travel across the country is surging, subsequently raising the demand for bags and luggage. Moreover, this is also influencing consumer preference towards premium, functional, and innovative luggage solutions.

Furthermore, the Indian government has devised a supportive policy for increasing Foreign Direct Investment (FDI) inflows. As per the United Nations Conference on Trade and Development (UNCTAD), India experienced a notable rise in Foreign Direct Investment (FDI) inflows in 2022. The inflows surged to USD 49.3 billion, marking a year-on-year increase of 10.3%. This surge positioned India prominently on the global stage; it became the third-largest destination for new international investment projects (greenfield projects). The increase in FDI would considerably increase the number of business establishments in the country. This would increase corporate events, including meetings, conferences, and workshops, which subsequently would increase the demand for bags and luggage.

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Market Segmentation and Consumer Behavior:

By Market Structure
- Organized- (Market Size & Forecast 2019-2030, (USD Million)
- Unorganized- (Market Size & Forecast 2019-2030, (USD Million)
By Product Type
- Bags
  - Cross Body Bags- (Market Size & Forecast 2019-2030, (USD Million)
  - Bags and Backpacks- (Market Size & Forecast 2019-2030, (USD Million)
  - Business Bags- (Market Size & Forecast 2019-2030, (USD Million)
  - Duffle Bags- (Market Size & Forecast 2019-2030, (USD Million)
  - Clutches- (Market Size & Forecast 2019-2030, (USD Million)
  - Others (Tote Bags, Wallet and Coin Pouches, Other Small Bags, etc.)- (Market Size & Forecast 2019-2030, (USD Million)
- Luggage
  - Soft Luggage- (Market Size & Forecast 2019-2030, (USD Million)
  - Hard Luggage- (Market Size & Forecast 2019-2030, (USD Million)
  - Wheeled Luggage- (Market Size & Forecast 2019-2030, (USD Million)
  - Non-Wheeled Luggage- (Market Size & Forecast 2019-2030, (USD Million)
- By Price Category
  - Luxury- (Market Size & Forecast 2019-2030, (USD Million)
  - Mass/Economy- (Market Size & Forecast 2019-2030, (USD Million)
  - Premium- (Market Size & Forecast 2019-2030, (USD Million)
- By Application
  - Travel- (Market Size & Forecast 2019-2030, (USD Million)
  - Business- (Market Size & Forecast 2019-2030, (USD Million)
- By Distribution Channel
  - Offline- (Market Size & Forecast 2019-2030, (USD Million)
    - Dealers & Distributors- (Market Size & Forecast 2019-2030, (USD Million)
    - Retail Stores- (Market Size & Forecast 2019-2030, (USD Million)
  - Online- (Market Size & Forecast 2019-2030, (USD Million)

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India Luggage and Bags Market Geographical Analysis:

By Region:

North
South
West
East
North-East

Key Players and Competitive Strategies in the India Luggage and Bags Market

Several prominent players dominate the India Luggage and Bags Market, including:

Safari Industry India Ltd.
VIP Industries Ltd.
Delsey India Pvt Ltd.
Wildcraft India Pvt Ltd.
Mufubu
Samsonite IP Holdings S.a.r.l.
Suntop
Harrison Bags
Nath Brothers Exim International Ltd.
Titan Co Ltd.
Skybags
Texon Bags
LVMH Watch & Jewellery India Pvt Ltd
Others (Nekton India, Sanghavi Bags, etc.)

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Questions Addressed in this Study

1.What factors are driving the India Luggage and Bags Market growth?

2.How is the India Luggage and Bags Market expected to grow over the next five years?

3.What are the key insights into the current trends in the India Luggage and Bags Market?

4.What is the current size of the India Luggage and Bags Market, and how is it projected to change in the future?

6.What is the future outlook for the India Luggage and Bags Market in terms of technological advancements and market expansion?

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MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.