MarkNtel Advisors recently published a detailed industry analysis of the India Luggage and Bags Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.
Insights and Analysis of the India Luggage and Bags Market (2024-2030)
The India Luggage and Bags Market size is estimated to grow at a CAGR of around 14.4% during the forecast period, i.e., 2024-30.
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What is driving the India Luggage and Bags market?
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.
What segments define the India Luggage and Bags market from 2024 to 2030? How do these segments contribute to market dynamics and growth?
By Market Structure
(Organized, Unorganized),
By Product Type
(Bags, (Cross Body Bags, Bags and Backpacks, Business Bags, Duffle Bags, Clutches, Others (Tote Bags, Wallet and Coin Pouches, Other Small Bags, etc.)), Luggage, (Soft Luggage, Hard Luggage, Wheeled Luggage, Non-Wheeled Luggage)),
By Price Category
(Luxury, Mass/Economy, Premium),
By Application
(Travel, Business),
By Distribution Channel
(Offline, (Dealers & Distributors, Retail Stores), Online)
Region
(North, South, West, East, North-East)
Explore the Complete India Luggage and Bags Market Analysis Report – https://www.marknteladvisors.com/research-library/india-luggage-and-bags-market.html
Who are the leading key players shaping the India Luggage and Bags Market landscape?
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., and others
Questions Addressed in this Study
1.What factors are driving the India Luggage and Bags Market growth?
2.How is the India Luggage and Bags Market expected to grow over the next five years?
3.What are the key insights into the current trends in the India Luggage and Bags Market?
4.What is the current size of the India Luggage and Bags Market, and how is it projected to change in the future?
6.What is the future outlook for the India Luggage and Bags Market in terms of technological advancements and market expansion?
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