Expansion Of MICE Events Encouraged India Luggage And Bags Industry To Witness Lucrative Growth At A Healthy CAGR Of 14.4% By 2030

Published: 2025-03-06
Views: 84
Author: john694
Published in: Business

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.

 Markntel Advisor’s India Luggage and Bags Market Insights report provides the current and forecast market analysis, individual leading companies' market shares, challenges, Luggage and Bags Market drivers, barriers, Luggage and Bags Technology Trends, and Key Players in India Luggage and Bags Market.

Key Takeaways from the Report:

• As per Markntel Advisors estimates, the online segment has experienced substantial growth in the India Luggage and Bags Industry, driven by growing penetration of internet connectivity and the increasing popularity of e-commerce platforms
• Notable Luggage and Bags companies such as 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 are currently operating in the growing industry.

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India Luggage and Bags Overview

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.

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India Luggage and Bags Market Insights

According to the recent report published by Markntel Advisors, the India Luggage and Bags industry size is estimated to grow at a CAGR of around 14.4% during the forecast period, i.e., 2024-30. 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 Luggage and Bags Market Segmentation:

• Luggage and Bags Market By Structure: Organized, Unorganized
• Luggage and Bags Market By 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)
• Luggage and Bags Market By Price Category: Luxury, Mass/Economy, Premium
• Luggage and Bags Market By Application: Travel, Business
• Luggage and Bags Market By Distribution Channel: Offline, (Dealers & Distributors, Retail Stores), Online
• Luggage and Bags Market By Region: North, South, West, East, and North-East

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Future Outlook of the Luggage and Bags Industry

As per the analytical report published by Markntel Advisors, the Luggage and Bags industry is anticipated to grow & flourish during the forecast period as the above-stated factors are changing the market landscape and opening doors to the market players. Market players can enhance their market size & revenue by meeting the changing market dynamics and evolving consumer expectations. Additionally, market players with the help of SWOT analysis can adjust their existing settings regarding the evolving market trends, which would ultimately augment the size & volume of the entire industry at the national level.

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