India Luggage and Bags Market Overview:
Luggage is a passenger’s personal belongings carried while traveling onboard an aircraft, ship, or bus, whether checked or unimpeded. Luggage entails of bags, cases, and containers which control a traveler’s stuff while the traveler is in transit. During the olden days, the luggage was frequently made of wood or heavy materials. But the form of luggage as transformed drastically over time.
According to the report analysis, ‘India Luggage and Bags Market Outlook to 2025- Growth in Outbound & Domestic Tourists Coupled with Inclination Towards Branded Luggage Supporting Market Growth)’ states that India luggage and bags market augmented at a double digit growth rate over the review duration 2013-2019 and was further assisted by enlarging the travelling based expenditure for both leisure and corporate tourism, growing proliferation of online portals, introduction of cost-effective pricing products and customer shift from unbranded to branded superiority products. The entry of numerous international players has also underwritten towards the same. Strong growth was witnessed in Indian luggage and bags industry majorly owing to high customer demand but a depreciating USD ($) affected profitability of several producers in India. However, stabilization of GST rate at 18% (previously 28%) generated a positive impact on the consumer requirement.
Snapshot on India Online Luggage and Bags Market
The online market was witnessed to be in its early growth stage alongside observing the massive growth over the years. E-Commerce channel delivers the unbiased feedback of product from the real users of the product, thus its assistances a customer in making an informed choice while buying the product. The luggage segment underwritten major share of revenues followed by bags segment throughout 2019. However, in terms of volume the bags were the registering category. The competition in the online luggage and bags market was witnessed to be extremely fragmented with foremost players competing on the basis of pricing, product variability, design and style, functionality and several other factors. Some of the foremost market players involve Samsonite, VIP, Safari, Hidesign, Wildcraft and others with Samsonite leading the market in terms of gross merchandize value during 2019. Due to the price sensitive nature of Indian customers along with the augment product listings on E-commerce platforms, the online sale is predicted to grow during the near future.
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Competitive Landscape
Competition was again witnessed to be extremely fragmented in the unorganized segment however, within the organized market, the competiton has become focused with the entry of international brands such as Samsonite, Louis Vuitton, Da Milano, Tommy Hilfiger and others. In addition, the local / domestic players have a greater existence in the market in terms of revenue, Product SKUs, manufacturing capabilities and several others.
India Travel Bags Market Future Outlook
Factors such as new product variations, investment in smart luggage products, online distribution and shift from mass to premium price positioning will propel the India luggage and bags market during the near future both in terms of revenue and sales volume. Apart from the traditional dealer / distribution channel, numerous other sales channels will augment in future such as canteen store department (CSD) around India. However, the weakening of INR against USD endures to put a pressure on retailer margins and effectiveness of luggage and bag manufacturers; resulting into cost optimization and augment in the consumer prices.
Companies Covered:
- VIP Industries Ltd
- Samsonite International SA
- Safari
- LVMH Moët Hennessy Louis Vuitton SA
- Wildcraft India Pvt Ltd
- Hermès International SCA
- Kering SA
- Hidesign India Pvt Ltd
Key Topics Covered in the Report
- India Luggage and Bags Market Introduction
- Luggage Wheel Bag Manufacturers in India
- India Luggage and Bags Market Size, 2013-2019P
- India Luggage and Bags Market Segmentation, 2013-2019P
- Snapshot on India Online Luggage and Bags Market
- Porter Five Forces Analysis on India Luggage and Bags Market
- Trends and Developments in India Luggage and Bags Market
- Pest Analysis on India Luggage and Bags Market
- Regulatory Landscape in India Luggage and Bags Market
- Customer Profiling for India Luggage and Bags Market
- Consumer’s Decision Making Parameters and Buying Behavior in India Luggage and Bags Market
- Issues and Challenges in India Luggage and Bags Market
- Comparative Landscape in India Luggage and Bags Market
- India Luggage and Bags Market Future Outlook and Projections, 2019P-2025F
- Analyst Recommendations for India Luggage and Bags Market
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