FOR IMMEDIATE RELEASE
Pressnews.biz (Press Release) Dec 7, 2014
-- India Luggage Industry Outlook to FY’2018 - Surging Demand for Backpacks and Handbags to Drive Future Growth” provides a comprehensive analysis of the market size of the luggage industry in India, market segmentation on the basis of organizational structure (by organized and unorganized segment), price (value, popular and premium segment), utility of bags (travel, casual and business) and regions by revenue. The report also entails the market share and company profiles of major players in the branded segment along with a comparison of organized and unorganized segment on the basis of customer’s profile. An analysis of the future of luggage market in India is provided on the basis of revenue of the market over next five years.
Rise in the personal disposable income, travelling expenditure of the households, development of retailing and specialty stores and growing acceptance of luggage bags as a lifestyle product by the customers have contributed significantly to luggage industry in India. The luggage market is expected to grow at a CAGR of 18.0% from FY’2014-FY’2018 with significant contribution of casual bag segment in the overall luggage market of this country.
The Indian luggage industry has grown at a rapid pace over the years. It has been majorly dominated by unorganized segment contributing ~% in the overall market in FY’2013. VIP and Samsonite are the leaders in the organized market with significant contribution in revenue.
The luggage market has been further categorized into travel, business and casual bags with a contribution of ~% by travel bags in FY’2013 in overall luggage market. The market has been segmented further on the basis of price by value, popular and premium segments with a highest contribution of ~% by popular segment in FY’2013. Travel bags in India consist of trolley bags, suitcases and duffel bags and rolling totes. The luggage industry in India has been dominated by this segment with a contribution of ~% in the overall market revenue in FY’2013. The market for strolleys in India has grown at a massive CAGR of 28.1% from FY’2008-FY’-2013. The revenue recorded for strolley bags was INR ~ million in FY’2013. It has been observed that strolley bags with wheels contributed a massive share of ~% in the strolley bag market in India in FY’2013 as compared to non-wheeled luggage which accounted for ~% share.
The contribution of suitcases in travel bag market in India has been higher in the past years due to an increasing demand for traditional plastic suitcases which were priced lower as compared to the trolley and wheel suitcases. Suitcases contributed ~% in the travel bag market revenue in FY’2008, which has declined to ~% in FY’2013.
The contribution of laptop bags in business bags market has been significant over the years. It has been observed that in FY’2008, laptop bags accounted for ~% share in the market, which increased to ~% in FY’2013, thereby growing at a CAGR of 24.1% from FY’2008-FY’2013. Briefcases were the third largest contributor to business bag market revenue in India. The market for this segment has declined over the years. The contribution of briefcases to business bags in FY’2008 was ~% which showcased a declining trend and reduced to ~% in FY’2013.
VIP industries is the largest contributor in the overall as well as in the organized Indian luggage market with a market share of ~% and ~% in FY’2013 respectively, followed by Samsonite with a contribution of ~% in FY’2013 in the organized segment. Safari is the third largest player in the organized luggage market, whereas in unorganized market the leading players are Remington, Legend international, World sports and others.
Online luggage sales have showcased an increasing trend by growing at a CAGR of 80.2% from FY’2011-FY’2013. It was observed that in FY’2011, the market was valued at INR ~ million and it further soared to INR~ million in subsequent year, thereby registering a growth of ~% in FY’2012.