India Luggage Market Research Report, 2029

The luggage market in India is growing fast, as it is underpinned by the increasing customer online purchases along with increasing establishment of e-commerce stores, which creates a positive impact on demand for this product. Smart bags are becoming famous with additional features like GPS tracking and digital locks. Also, the rising demand for eco-friendly luggage made with sustainable materials gives a safe environment high demand for Sustainable luggage can flourish the market India luggage market growth at a reasonable rate. Premium and luxury luggage is generating high market growth in the country with customers seeking premium luggage that is more stylish yet durable. The India Luggage Market, which is a part of the Asia Pacific luggage market was adversely affected due to travel restrictions as well as lockdowns enforced by the government to put an end to the virus spread, so eventually it led to a decline in business travel. The tourism sector, being one of the main driving factors for luggage demand, is extremely affected by the pandemic. A leading chunk of product demand dropped due to the lockdown of the Hotels, and travel agencies. This brought about a major reduction in market shares and revenues. India Luggage Market holds huge growth potential in the country underpinned by the rising government's favorable policies contributing to market widening. One of the goals of the make in India initiative is to be able to make India a country with the world's largest manufacturing hub, which will boost increases domestic production of luggage goods in this country as well. The export promotion schemes and incentives are provided by the government of India to the manufacturers so that they expand their markets all over the nation. 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. According to the research report "India Luggage Market Research Report, 2029," published by Actual Market Research, the India luggage market is anticipated to grow at more than 9.5% CAGR from 2024 to 2029. The increasing trend of online shopping and increased disposable income among consumers contribute significantly to the growth of the India luggage industry. The rising population, expanding tourism industry, changing lifestyles, and improved air connectivity are some other factors that drive the demand for luggage bags in India. Advancements in technology have helped manufacturers develop innovative products that cater to customers’ needs and preferences. With an increase in international trips by students as well as professionals from India has resulted in increased demand for hard-sided and soft-sided suitcases with rolling functions which further drives the overall growth of this sector. Several new brands that have come into this market are disrupting the luggage category through innovative features like increased utility and security, charging ports, and suited-to-use luggage like an overnight backpack. Hugely standard offerings by the incumbent oligopolistic players have made innovation a possibility in this space. Few brands solving for the millennial population (which is the newest and biggest consumer of the luggage industry) are opening doors with the consumer through fashionable and high-utility products. An increasing disposable income, brand consciousness, and image consciousness are leading to people disposing of old luggage and shifting to branded premium as well as luxury luggage. 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. India's evolving fashion consciousness and desire for stylish yet functional suitcases and bags are driving innovation and diversity in the market.

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Asia-Pacific dominates the market and is the largest and fastest-growing market in the animal growth promoters industry globally

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Travel Bags are the most popular category and account for a significant portion of the market. The bags are made for convenience and durability, perfect for both international and domestic travel. Tourism and business travelling have greatly contributed to boosting the demand for travel bags, light weight and with features such as wheels and so on. Casual Bags comprise luggage items such as backpacks and duffel bags, which are popular with the new generation, both in terms of kids and teens, as well as users looking for practical bags every day. Casual segment has gained popularity with people carrying out more casual work practices, pursuing education, and traveling in an urban location. Casual bags can fit into a school, office, or a day of leisure so easily. Business Bags cater to the professional requirements of business professionals who look for stylish, yet extremely functional choices to carry around their working essentials. With the rapid growth of the corporate sector in India, these bags are in great demand because they blend functionality with a very professional look. Especially it has padded compartments to keep laptops safe and has assigned pockets to keep documents organized. Other Bags encompass niche items, such as gym bags, travel organizers, and fashion handbags. This segment may not command the majority market share in comparison to the other but certainly appeals to niches that especially appreciate the aesthetic qualities or specific functionality. Traditional Luggage encompasses all kinds of bags and suitcases, which have been at the core of the industry for so many decades. It comprises hardside and softside luggage, duffel bags, backpacks, and briefcases. Traditional luggage is tough, practical, and affordable-that explains why it enjoys the market of budget conscious consumers. Branded offerings by way of sub-branding variants-such as from brands like VIP, Safari, and Aristocrat-are the most prominent here, offering extensive ranges of products catering to specific consumer requirements and preferences. Smart Luggage is a relatively recent segment that has grown rapidly in India. These bags are designed with advanced features such as built-in USB ports for charging, GPS tracking, digital locks, and even built-in scales. Smart luggage is designed to offer added convenience and security for modern travelers. Though the cost of smart luggages is more than conventional types, its added features render them as desirable by tech-savvy consumers. Demand for smart luggage has been on the increase in India due to a tech-savvy population along with an increase in international travel. Brands such as Bluesmart, Raden, and Trunkster have launched their products in India and have presented innovative smart luggage solutions. The growth here is lower than the traditional luggage segment, however, as it is an expensive category and less known to consumers. Offline Channel continues to be the most important method by which Indian consumers buy their luggage. Not many of them buy luggage without having a first-hand experience or consulting with salespersons at a physical location. The retail formats may be specialty luggage stores, hypermarkets, and department stores, for example. Its popularity is also supported by the need to touch the luggage while shopping. More significantly, offline shopping frees cost and delay shipping which comes with online shopping. In India, personal interaction leads to a sense of trust and reliability that many appreciate, and this is well found in the offline channel. Growth in Online Channel has been phenomenal with internet penetration increasing rapidly and convenience of shopping from home. E-commerce websites like Amazon and Flipkart offer thousands of products and often at relatively low prices. Shopping online allows for the comparison of various brands and models, reading reviews, and access to special online deals and discounts. It is highly convenient for busy urban consumers since doorstep delivery is considered an added advantage.

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Nikita Jabrela

Business Development Manager

Considered in this report • Geography: India • Historic Year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report • India Elevator & Escalator Market with its value and forecast along with its segments • Application wise tire industry distribution • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Type: • Travel Bag • Causal Bag • Business Bag • Other Bag

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By Form: • Traditional Luggage • Smart Luggage By Distribution Channel: • Offline Channel • Online Channel The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to elevator & escalator industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.