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  Future of industries - Luggage Industry  
     
     
 
Luggage industry
 
Shining Perspective
Luggage is increasingly becoming a fashion accessory. Travelers are increasingly matching
luggage with the clothes they wear
As a result, luggage manufacturers need to constantly align value proposition to meet evolving
lifestyles and trends for sustainability
 
 
Luggage is increasingly becoming a fashion accessory with ergonomic designs, trendy color combinations, textures and clean contoured lines. Asia Pacific is projected to be fastest growing luggage market. Sports bags, backpacks
& daypacks is projected to be fastest growing segment.
 
Another transformation which is taking place is from generic stores to branded outlets.
 
The demand for luggage courier services will increase due to new baggage policies and security procedures introduced by the airlines.
 
Design modification and innovative materials will continue to help in production of lighter products.
 
Emerging markets continue to be the hot spot for economic production and luxury sales.
 
As more and more Indians become globally mobile and get exposed to international accessories, there will be
surge in demand for luxury luggage products with differentiation built around comfort of carrying and storage.
 
 
  Industry Growth Drivers
  Increasing population
  Economic growth
  Growing income
  Changing spending habits
  Changing preferences of consumers
  Changing travel trends
  Travel and tourism industry greatly influences the luggage Market
  Increasing cross-border and internal migrations
  Travelers are increasingly matching luggage with the clothes they wear
  Fashion-oriented luggage such as backpacks, sports bags, and computer cases, which suit
their requirements and give a stylish look are therefore preferred
  Product Innovations
  Demand for lifestyle luggage products is growing It is primarily driven by highly
fashion-conscious consumers
  Emerging markets
  China, India, Russia and Brazil
 
  Industry Competitive Scenario
  The market is highly fragmented and most manufacturers are not branded players
  Intensifying competition among global, national and regional or local players
  Stiffer competition, particularly in the non-luxury, high-volume, low-price segment
  Shift towards more branded and fashion shops
  Maturing market with generic stores giving way to branded outlets and specialist fashion shops
  Luggage producers are focusing more on R&D
  To design and manufacture luggage with high quality materials and advanced features
  The luggage industry is employing state-of-art technology and scientific research
  To develop sophisticated products with innovative designs that effectively reduce the neck pain,
back stress and shoulder distress in the travelers
     
  Industry Complexity
  Stringent environmental norms
  Environmental protection, product safety
  More stringent chemical testing to improve product safety standards
  Trade barriers
  IPR (Intellectual Property Rights ) laws
   
  Industry Pain Areas
  Economic recession
  Cyclical fall in travel & tourism industry
  Dumping from low cost countries like China
  Weak IPR laws in developing countries like India, China
  Volatility in raw material price
  By the impact of rising oil prices, the main raw material such as polyester fabric and PVC, PU film etc.
prices rose sharply
  Currency fluctuation
  Declining margin/ Increasing production costs
     
 
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