Luggage sector: India

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YEAR-WISE DEVELOPMENTS

Till 2019

According to a report by ResearchAndMarkets, the luggage market in India was valued at $1.15 billion in 2019 and was projected to reach $1.86 billion by 2025, growing at a CAGR of 8.4% during the forecast period (2020-2025).

The market is divided into two segments: organized and unorganized. The organized segment includes branded and premium luggage products, while the unorganized segment consists of non-branded, low-priced luggage products. The organized sector is expected to grow at a higher rate compared to the unorganized sector, primarily due to the rising demand for premium and branded luggage products.

Furthermore, the market is dominated by three major players - VIP Industries, Samsonite South Asia Pvt. Ltd., and Safari Industries (India) Ltd. These companies account for a significant share of the market, with VIP Industries being the market leader.

However, the COVID-19 pandemic has affected the market's growth rate .

2019-22

The Luggage sector: India: 2019-22
From: April 29, 2023: The Times of India

See graphic:

The Luggage sector: India: 2019-22