Market Research Report

India Luggage and Bags Market Research Report: Forecast (2024-2030)

India Luggage and Bags Market Report - By Market Structure (Organized, Unorganized), By Product Type (Bags, (Cross Body Bags, Bags and Backpacks, Business Bags, Duffle Bags, Clutch...es, Others (Tote Bags, Wallet and Coin Pouches, Other Small Bags, etc.)), Luggage, (Soft Luggage, Hard Luggage, Wheeled Luggage, Non-Wheeled Luggage)), By Price Category (Luxury, Mass/Economy, Premium), By Application (Travel, Business), By Distribution Channel (Offline, (Dealers & Distributors, Retail Stores), Online), and Others Read more

  • FMCG
  • Apr 2024
  • 128
  • CG33928

Market Definition

Travel & tourism is one of the main sectors that generate a large portion of income for most countries. Traveling does not come alone, there are always some factors involved, the most common of which is luggage. Travel bags are a widely used item in luggage transportation. There are many innovations and design changes in travel bags, and even now we have many options for light and durable bags with many models. The changing lifestyles, rising incomes, and trendy tourism in different countries are just some of the factors supporting the luggage industry.

Market Insights & Analysis: India Luggage and Bags Market (2024-30):

The India Luggage and Bags Market size is estimated to grow at a CAGR of around 14.4% during the forecast period, i.e., 2024-30. The luggage and bags industry in India demonstrates robust growth prospects fueled by several factors. One of the key factors includes the growth in domestic and international tourism and government initiatives. Other countries that promote tourism have increased the travel of residents abroad and domestically. Along with this, the growing middle-class population and rising disposable income have increased the inclination of consumers towards high-quality luggage and bags for travel and daily use. In addition, changing lifestyles, urbanization trends, and booming e-commerce are further fueling market expansion and providing consumers with greater access to a wide range of products. Additionally, India's evolving fashion consciousness and desire for stylish yet functional suitcases and bags are driving innovation and diversity in the market. Consumers seek products that not only offer durability and convenience but also reflect their style and preferences. This trend has led to the emergence of a plethora of designs, materials, and features, catering to various segments of the population, from budget-conscious travelers to luxury-seeking individuals.

Report Coverage Details
Study Period Historical Data: 2019-22
Base Year: 2023
Forecast Period: 2024-30
CAGR (2024-2030) 14.4%
Region Covered North, South, East, West, North East
Key Companies Profiled 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., and others 
Unit Denominations USD Million/Billion

 

Moreover, the market is witnessing increased adoption of eco-friendly materials and sustainable practices, driven by growing environmental awareness among consumers. Manufacturers are responding to this demand by introducing eco-conscious lines of luggage and bags, thus tapping into a niche yet expanding segment of environmentally conscious consumers. In conclusion, the India Luggage and Bags Market presents significant opportunities for growth & expansion during the forecast period, driven by factors such as rising disposable incomes, changing consumer preferences, and increasing awareness of sustainability.


India Luggage and Bags Market Research Report: Forecast (2024-2030)

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.

India Luggage and Bags Market Opportunity:

Government Initiatives to Enhance Domestic Tourism to Open New Doors for Market Players – In India, tourism has emerged as a major contributor to its GDP, and owing to this, the government is planning to strengthen its domestic tourism sector to make it more resilient against global challenges, such as economic downturns. In line with this, the government has been introducing various initiatives to enhance domestic tourism in the country. For instance, in 2022, the Ministry of Tourism revamped its Swadesh Darshan Scheme as Swadesh Darshan 2.0 (SD2.0) to develop sustainable and responsible destinations following a tourist- & destination-centric approach.

Additionally, in 2024, the government has notified 57 destinations in the country for development under the Swadesh Darshan Scheme as Swadesh Darshan 2.0 (SD2.0). This would catalyze domestic tourism in the country, which subsequently would necessitate the need for a wide range of bags, which would open new doors for market players.

India Luggage and Bags Market Challenge:

Increasing Availability of Counterfeit Products to Restrict Market Growth – In India, there is a substantial inclination of customers towards luxury and high-end branded bags and luggage. However, the high cost of these bags makes them beyond the reach of the majority of consumers, owing to which there is a lucrative market for counterfeit bags and luggage in India. Moreover, advancements in technology are making it easier to produce high-quality replicas. As the availability of these duplicate products surges, this would reduce the revenue of legitimate brands, thereby posing a challenge to market players.

India Luggage and Bags Market Trend:

Smart &Tech-Enabled Luggage & Bags Gaining Traction – In India, the population of tech-savvy customers is increasing, especially among the middle and upper-middle classes. Owing to this, companies like Safari, VIP, Samsonite, etc., are launching bags with features such as GPS tracking, USB charging ports, etc. Moreover, 2019-2023 companies like Airwheel SE3S, Arista Vault, etc., have introduced electric motorized luggage carriers. Owing to this, there would be a wider adoption of smart, technology-integrated travel accessories, which is anticipated to further increase the introduction of smart bags from other companies as well.

India Luggage and Bags Market (2024-30): Segmentation Analysis

The India Luggage and Bags Market study of MarkNtel Advisors evaluates & highlights the major trends and influencing factors in each segment. It includes predictions for the period 2024–2030 at the national level. According to the analysis, the market has been further classified as:

Based on Product Type:

  • Bags
    • Cross Body Bags
    • Bags and Backpacks
    • Business Bags
    • Duffle Bags
    • Clutches
    • Others (Tote Bags, Wallet and Coin Pouches, Other Small Bags, etc.)
  • Luggage
    • Soft Luggage
    • Hard Luggage
    • Wheeled Luggage
    • Non-Wheeled Luggage

In India, bags, especially duffle bags, have registered noteworthy demand in comparison to other types of luggage and bags. These duffle bags are more affordable than other bags, which has made them a suitable option for the price-sensitive Indian market. Moreover, consumers in India prefer luggage options that can be easily stored when not in use. Due to this, duffle bags are increasingly being adopted as they cater to the living conditions in Indian households. Along with this, these bags are versatile, owing to which they can be used for a wide range of activities like gym visits, weekend trips, etc. With the rising number of gym goers and increased participation of the population in sports activities in the country, the demand for duffle bags is projected to increase in the years to come as well. Furthermore, the soft structure of these duffle bags allows for more flexible packing, which is particularly appealing.

Based on Distribution Channel

  • Offline
    • Dealers & Distributors
    • Retail Stores
  • Online

The online distribution segment has experienced significant growth in the India Luggage and Bags Market due to factors such as the growing penetration of internet connectivity and the increasing popularity of e-commerce platforms. This has made it easier for consumers to browse, compare, and purchase luggage and bags online. Accessibility to E-commerce platforms has expanded the reach of manufacturers and retailers, allowing them to target a wider audience beyond traditional brick-and-mortar stores.

Furthermore, e-commerce platforms are evolving by catering to the need for budget-friendly products. This is projected to provide new opportunities for affordable brands that aim to reach out to the maximum number of customers across the country. In 2024, Amazon India launched a vertical called Bazaar for affordable, unbranded fashion and lifestyle products. The platform would provide a vast range of products, including apparel, watches, shoes, jewelry, and luggage, among others.

Additionally, online channels offer consumers a diverse range of products, including both domestic and international brands, catering to varied preferences and budgets. The convenience of doorstep delivery and the availability of multiple payment options further enhance the appeal of online shopping for luggage and bags, particularly among busy urban consumers. Moreover, the ability to access customer reviews and ratings online helps shoppers make informed purchasing decisions, fostering trust and confidence in online transactions. As a result, the online distribution segment continues to experience robust growth, playing a pivotal role in driving demand for the India Luggage and Bags Market.

India Luggage and Bags Industry Recent Development:

  • In 2023: VIP Industries Ltd. expanded its manufacturing capabilities for luggage production in India with enhanced cost efficiencies across the value chain and a shift to in-house manufacturing.
  • In 2022: Safari Industry India Ltd. focused on premium luggage of USD 482.04+ as its next growth lever to capture and gain the luggage e-commerce market in India.

Gain a Competitive Edge with Our India Luggage and Bags Market Report

  1. India Luggage and Bags Market Report by MarkNtel Advisors provides a detailed & thorough analysis of market size & share, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of market dynamics & make informed decisions.
  2. This report also highlights current market trends & future projections, allowing businesses to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
  3. India Luggage and Bags Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks & optimize their operations.

Frequently Asked Questions

   A. The India Luggage and Bags Market is expected to grow at a compound annual growth rate (CAGR) of around 14.4% over the forecast period.

   A. The increasing meetings, incentives, conferences, and exhibitions (MICE) activities are prominent factors expected to drive the Indian Luggage and Bags Market during 2024-30.

   A. 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., and others (Nekton India, Sanghavi Bags, etc.) are the top companies in the India Luggage and Bags Market.

   A. The duffle bags segment held the largest share of the India Luggage and Bags Market.

   A. The increasing popularity of smart & tech-enabled luggage & bags is a key trend shaping the growth of the India Luggage and Bags Market.

   A. Government initiatives to enhance domestic tourism are the growth opportunities driving the India Luggage and Bags Market.

  1. Market Segmentation
  2. Introduction
    1. Market Definition
    2. Research Process
    3. Assumptions
  3. Executive Summary
  4. India Luggage and Bags Market PESTLE Analysis
  5. India Luggage and Bags Market Trends & Insights
  6. India Luggage and Bags Market Dynamics
    1. Growth Drivers
    2. Challenges
  7. India Luggage and Bags Market Value Chain and Margin Analysis  
  8. India Luggage and Bags Market Hotspots & Opportunities
  9. India Luggage and Bags Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Market Structure
        1. Organized- (Market Size & Forecast 2019-2030, (USD Million)
        2. Unorganized- (Market Size & Forecast 2019-2030, (USD Million)
      2. By Product Type
        1. Bags
          1. Cross Body Bags- (Market Size & Forecast 2019-2030, (USD Million)
          2. Bags and Backpacks- (Market Size & Forecast 2019-2030, (USD Million)
          3. Business Bags- (Market Size & Forecast 2019-2030, (USD Million)
          4. Duffle Bags- (Market Size & Forecast 2019-2030, (USD Million)
          5. Clutches- (Market Size & Forecast 2019-2030, (USD Million)
          6. Others (Tote Bags, Wallet and Coin Pouches, Other Small Bags, etc.)- (Market Size & Forecast 2019-2030, (USD Million)
        2. Luggage
          1. Soft Luggage- (Market Size & Forecast 2019-2030, (USD Million)
          2. Hard Luggage- (Market Size & Forecast 2019-2030, (USD Million)
          3. Wheeled Luggage- (Market Size & Forecast 2019-2030, (USD Million)
          4. Non-Wheeled Luggage- (Market Size & Forecast 2019-2030, (USD Million)
      3. By Price Category
        1. Luxury- (Market Size & Forecast 2019-2030, (USD Million)
        2. Mass/Economy- (Market Size & Forecast 2019-2030, (USD Million)
        3. Premium- (Market Size & Forecast 2019-2030, (USD Million)
      4. By Application
        1. Travel- (Market Size & Forecast 2019-2030, (USD Million)
        2. Business- (Market Size & Forecast 2019-2030, (USD Million)
      5. By Distribution Channel
        1. Offline- (Market Size & Forecast 2019-2030, (USD Million)
          1. Dealers & Distributors- (Market Size & Forecast 2019-2030, (USD Million)
          2. Retail Stores- (Market Size & Forecast 2019-2030, (USD Million)
        2. Online- (Market Size & Forecast 2019-2030, (USD Million)
      6. By Region
        1. North
        2. South
        3. West
        4. East
        5. North-East
      7. By Company
        1. Competition Characteristics
        2. Market Share of Leading Companies
  10. India Bags Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Market Structure
      2. By Product Type
      3. By Price Category
      4. By Distribution Channel
      5. By Region
  11. India Luggage Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Market Structure
      2. By Product Type
      3. By Price Category
      4. By Distribution Channel
      5. By Region
  12. India Luggage and Bags Market Key Strategic Imperatives for Growth & Success
  13. Competition Outlook
    1. Company Profiles
      1. Safari Industry India Ltd.
        1. Business Description
        2. Product Segments
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      2. VIP Industries Ltd.
        1. Business Description
        2. Product Segments
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      3. Delsey India Pvt Ltd.  
        1. Business Description
        2. Product Segments
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      4. Wildcraft India Pvt Ltd.
        1. Business Description
        2. Product Segments
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      5. Mufubu
        1. Business Description
        2. Product Segments
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      6. Samsonite IP Holdings S.a.r.l.
        1. Business Description
        2. Product Segments
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      7. Suntop
        1. Business Description
        2. Product Segments
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      8. Harrison Bags
        1. Business Description
        2. Product Segments
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      9.  Nath Brothers Exim International Ltd.  
        1. Business Description
        2. Product Segments
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      10. Titan Co Ltd.
        1. Business Description
        2. Product Segments
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      11. Skybags
        1. Business Description
        2. Product Segments
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      12. Texon Bags  
        1. Business Description
        2. Product Segments
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      13. LVMH Watch & Jewellery India Pvt Ltd
        1. Business Description
        2. Product Segments
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      14. Others (Nekton India, Sanghavi Bags, etc.)
        1. Business Description
        2. Product Segments
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
  14. Disclaimer


India Luggage and Bags Market