The
report titled “India
Luggage and Bags Market Outlook to 2025- Growth in Outbound & Domestic
Tourists Coupled with Inclination Towards Branded Luggage Supporting Market
Growth)” provides a comprehensive analysis of the luggage and bags
industry of India. The report also covers overview and genesis of the industry,
overall market size in terms of revenue and sales volume, market segmentation by
market structure, product types, price category, region and by distribution
channel; snapshot on online luggage and bags market, porter five forces
analysis, trends and developments, pest analysis, regulatory landscape,
customer level profiling, issues and challenges and comparative landscape
including competition scenario, pricing analysis, cross comparison, strengths
and weaknesses and company profiling of major luggage and bag manufacturers.
The report concludes with future market projections on the basis of revenue and
sales volume, by market structure, product types region and distribution
channel, cause and effect relationship and analyst recommendations highlighting
the major opportunities and cautions.
India Luggage and Bags Market Overview and Size
India
luggage and bags market grew at a double digit growth rate over the review
period 2013-2019 and was further supported by expanding travelling based
expenditure for both leisure and corporate tourism, increasing proliferation of
online portals, introduction of affordable pricing products and consumer shift
from unbranded to branded quality products. The entry of several international
players have also contributed towards the same. Strong growth was observed in
Indian luggage and bags industry majorly due to high consumer demand but a
depreciating USD ($) affected profitability of multiple manufacturers in India.
However, stabilization of GST rate at 18% (previously 28%) created a positive
impact on the consumer demand.
India Luggage and Bags Market Segmentation
By Market Structure (Unorganized Market and Organized Market):
The unorganized segment
within India luggage and bags has been traditionally dominating in terms of
revenue. However, the situation is marginally turning out to be in favor of the
established organized players. The organized players consist of high end
showrooms i.e. exclusive brand outlets or multi-brand outlets and other
hypermarket chains which tend to sell branded luggage, bag and other travel
gear accessories whereas, the unorganized market consist of local shops and
dealers.
By Product Type (Luggage and Bags): The bags segment held a higher share in India luggage and
bags market during 2019 owing to the launch of new product variants within
handbags, backpacks and duffel bags. Whereas on the other hand, customers were
observed to shfit from hard luggage products to soft luggage segment in India.
Similarly, luggage / bags with wheels contributed a massive share compared to
non-wheeled luggage in India.
By Price Category (Mass/Economy,
Premium and Luxury): Players such as VIP In. and Samsonite brands are positioned
across all price segments in India. Whereas players such as Da Milano, Gucci,
Louis Vuitton are targeting high end luxury customers. On the other hand, Safari
and Wildcraft are gaining traction in the mass/economy segment.
By Region (North, South, West and
East): Western
and Northern regions of India were observed to have better foothold in terms of
luggage and bags manufacturers including the presence of VIP Industries
Limited, Samsonite International, Safari Industries and others. However,
manufacturing clusters of top 3 players are well diversified across all the
regions in India, especially in the cities of Maharashtra such as Mumbai,
Nashik and Nagpur. The Western region dominated, followed by Northern region,
Southern and Eastern regions in the year 2019P.
By Distribution Channel (Bags-Luggage
Specialist Retailers, Hypermarkets, Internet Retailing, Department Stores,
Apparel and Footwear Specialist Retailers, Stationers / Office Supply Stores,
Other Non-Grocery Specialists and Homeshopping): Bags and luggage specialist retailers
(including exclusive business outlets) in India were observed to dominate in
2019. Product margins tend to be higher at EBOs and other retail outlets
whereas, it was low in multi-brand outlets and E-commerce channels. Hypermarkets
in India captured second largest revenue share followed by other distribution
channels.
Snapshot on India Online Luggage and Bags Market
The
online market were observed to be in its early growth stage alongside
witnessing massive growth over the years. E-Commerce channel provides unbiased
feedback of product from the real users of the product, thus it helps a
customer in making an informed choice while purchasing the product. The luggage
segment contributed major share of revenues followed by bags segment during 2019.
However, in terms of volume the bags were the dominating category. The
competition in the online luggage and bags market was observed to be highly
fragmented with major players competiting on the basis of pricing, product
variety, design and style, functionality and other factors. Some of the major
players include Samsonite, VIP, Safari, Hidesign, Wildcraft and others with
Samsonite leading the market in terms of gross merchandize value in 2019. Owing
to the price sensitive nature of Indian consumers along with the increase
product listings on E-commerce platforms, the online sale is expected to grow
in the near future.
Competitive Landscape in India
Luggage and Bags Market
Competition was again observed to be highly fragmented
in the unorganized segment however, within the organized market, the competiton
has become concentrated with the entry of international brands such as
Samsonite, Louis Vuitton, Da Milano, Tommy Hilfiger and others. Nevertheless,
the local / domestic players have a larger presence in the market in terms of
revenue, Product SKUs, manufacturing capabilities and others.
India Luggage and Bags Market Future Outlook and Projections
Factors
such as new product variants, investment in smart luggage products, online
distribution and shift from mass to premium price postioning will drive the
India luggage and bags market in the near future both in terms of revenue and
sales volume. Apart from traditional dealer / distribution channel, numerous
other sales channels will grow in future such as canteen store department (CSD)
in India. However, the weakening of INR against USD continues to put a pressure
on retailer margins and profitability of luggage and bag manufacturers;
resulting into cost optimization and increase in consumer prices.
Key Segments Covered:-
Market Structure
Unorganized
Market
Organized
Market
Product Type
Bags
Handbags
Backpacks
Duffel
Bags
Wallet
and Coin Pouches
Cross
Body Bags
Business
Bags
Other
Small Bags (Jute Bags, Bags for Daily Usage and Bags for Small Purpose)
Luggage
Soft
Luggage
Hard
Luggage
Wheeled
Luggage
Non-Wheeled
Luggage
Price Category
Luggage
Price Category (Mass Segment, Premium Segment and Luxury Segment)
Handbag
Price Category (Mass Segment, Premium Segment and Luxury Segment)
Backpack
Price Category (Mass Segment, Premium Segment and Luxury Segment)
Duffel
Bag Price Category (Mass Segment, Premium Segment and Luxury Segment)
Region
North
Delhi
Ghaziabad
Uttarakhand
Other
Northern Cities
South
Bangalore
Hyderabad
Cochin
Other
Southern Cities
East
Kolkata
Patna
Cuttak
Orissa
Other
Eastern Cities
West
Mumbai
Ahamdabad
Indore
Other
Southern Cities
Distribution
Channel:-
Bags
and Luggage Specialist Retailers
Hypermarkets
Internet
Retailing
Department
Stores
Apparel
and Footwear Specialist Retailers
Stationers
/ Office Supply Stores
Other
Non-Grocery Specialists
Homeshopping
Key Target Audience:-
Luggage Manufacturers
Bags Manufacturer
Retailers and Distributors
Time Period Captured in the Report:-
Historical Period: 2013-2019P
Forecast Period: 2019P–2025F
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
Da
Milano India
Baggit
Ltd
Burberry
Group Plc
Bagzone
Lifestyles Pvt Ltd
Tommy
Hilfiger
Others
(Salvatore Ferragamo SpA, Khadimm India Ltd, Leather Line, Richemont SA, Cie
Financiere, Adidas Group, PPR SA, Titan Industries Ltd, Shoppers Stop Ltd, VF
Corp, Harrisons Worldwide Pvt Ltd, Case Logic Inc, Giordano International Ltd
and Rest)
Key Topics Covered in the Report:-
India
Luggage and Bags Market Introduction
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
For
More Information on the research report, refer to below
link:-
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