Tuesday, 3 March 2020

India Luggage and Bags Market Outlook to 2025


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:-
Related Reports:-

5 comments:

  1. This comment has been removed by the author.

    ReplyDelete
  2. There are lots of shopping site who provides the best bags and wallets. Buy luggage bags online at best prices from Indian ecommerce store.

    ReplyDelete
  3. SmileBazar is an online shopping websites offering made in India Products. Buy Mens/Womens/Kids Clothing & Accessories online at lowest prices. Hope you enjoy discovering new home essential store.

    ReplyDelete
  4. SmileBazar is biggest online store for Mobiles, Fashion, Electronics, Home Appliances, Books, Jewellery, Home, Furniture, Sporting goods, Beauty and Personal Care,
    Buy Luggage Bags Online and more! Find the largest selection from all products at the lowest prices in India. Payment options - COD, EMI, Credit card, Debit card and more.

    ReplyDelete
  5. Hey, my name is Zahra Wilson and I am working as a marketing manager at PapaChina Company. It deals in a wide range of custom duffle bags at wholesale prices. If you want to buy these then visit our website and place your order.

    ReplyDelete