In-Depth Analysis of the India Luggage and Bags Market: 2024-2030 Forecasts
MarkNtel Advisors has recently released an in-depth study on the India Luggage and Bags Market, covering historical data, current market trends, marketing strategies, technological advancements, upcoming technologies, emerging opportunities, and technical advancements in the relevant industry.
How big is the Keyword Industry?
The India Luggage and Bags Market is estimated to grow at a CAGR of around 14.4% during the forecast period, i.e., 2024-30.
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Who are the top players in the India Luggage and Bags Market?
- 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.
- others
India Luggage and Bags Market Segmentation:
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)
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Regional/ Countries Insight:
- North
- South
- West
- East
- North-East
What are the primary market drivers influencing the growth of India Luggage and Bags Market?
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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Gain a Competitive Edge with Market Research Report
- The India Luggage and Bags Market Report by MarkNtel Advisors offers a detailed analysis of the market size, growth rate, competitive landscape, and key players, allowing businesses to gain a comprehensive understanding of market dynamics.
- Businesses can utilize the report to identify emerging opportunities and potential challenges in the market by highlighting current trends and providing future projections.
- The insights provided in the report enable companies to align their strategies based on market forecasts, ensuring they can stay ahead of the competition and make informed decisions.
- Apart from market trends and projections, the India Luggage and Bags Market Report assists in assessing and mitigating risks associated with entering or operating in the market
- By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategic approaches to minimize risks and optimize their operations, enhancing their competitive edge in the market.
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