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.                               

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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Key Market Reports Highlights

·        Market Dimensions & Projections

·        Pricing Evaluation

·        Recent Strategic Moves by Companies

·        Primary Stakeholders

·        Import/Export Trend Analysis

·        Competitive Landscape Assessment

·        Emerging Opportunities

·        Market Trends and Indicators

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India Luggage and Bags Market Segmentation:

The market report categorizes the market based on different segments and geographical analysis.

Study Timeline:

-Base Year: 2023

-Historical Period: 2019 to 2022

-Forecast Period: 2024 to 2030

• 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)
• By Region
  • North
  • South
  • West
  • East
  • North-East

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, 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., and others

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