Indian luggage industry to reach INR 102,857 million by FY’2018

ROHINI, India - May 22, 2013 - PRLog -- New Delhi: 21/5/2013- India is one of the major markets of luggage bags across the world. It is a highly fragmented market consisting of both unorganized and organized segment, with a dominance of the former in the overall industry. The market has been dominated by VIP and Samsonite. The major brands which have been promoted by VIP over the years include VIP, Carlton, Skybags, Alfa, Aristocrat and Verve. Indian market of Samsonite has been largely dominated by Samsonite and American Tourister brands. In addition to these brands, there are several other players in the organized segment, such as Safari, Giordano, Bulchee, Fiorelli, Blue and Blues, Timex, Kipling, Remova, Jansport which have been seeking to establish strong position in the market in the last few years. The growing desire for a fashionable luggage bag has prompted the luggage suppliers in the country to constantly innovate in order to meet evolving lifestyles and trends.

The growth of the luggage industry has been impacted directly by the growth of travel infrastructure such as national highways, airports, railway stations which contributed significantly to the development of the travel industry in India. Over the years, both domestic and international air travel in India has shown consistent double digit growth.

Travel bags consisting of trolley bags, suitcases and duffel bags and rolling totes have been a significant contributor to the market growth of the over the years. Indian people have shown inclination towards soft luggage bags, which are light-weighted and is easy to carry from one place to another as compared to hard luggage.

The demand for luggage bags in the country was positive in the first half of FY’2012, aided by a good marriage season. However, during FY’2012, high inflation, rising interest rates, high fuel costs and surging air fares impacted leisure travel and reduced disposable income, thereby reducing the rate of growth of demand leading to a relatively weak festive season.

Major players such as VIP and Samsonite have seeking to cater to the rural segment of the population and have been laying greater emphasis on product innovations such as the launching of various handbags for women's segments and eco-friendly bags to avoid carbon-footprints   will further boost up the revenue of the luggage market in the country. In addition to that it is also expected that India will account for 50 million outbound tourists by 2020, thereby presenting favorable prospects for the luggage industry in India in the future.          

According to research report, “India Luggage Industry Outlook to FY’2018 - Surging Demand for Backpacks and Handbags to Drive Future Growth” the luggage industry in India has been undergoing a consolidation phase with the entry of foreign players such as Blue and Blues, Jansport, Kipling, and others into the branded segments of bags. The competition is expected to intensify further as these players are estimated to make a significant contribution in the organized segment of luggage industry.

Several factors, including rising urbanization, increase in personal disposable income and growth of travel industry are expected to fuel the market growth of luggage in India in the coming years. Modern retailing and new fashion trends are expected to drive the casual bags and travel luggage bags category over the forecast period from FY’2014-FY’2018” according to the Research Analyst, Ken Research.

For more information, please visit:

http://www.kenresearch.com/consumer-products--retail/spec...