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Indian Luggage Boom: Market Set to Hit Rs 267 Billion by 2028

The Indian luggage industry is experiencing remarkable growth with projections showing it will reach Rs 267 billion by 2028. This represents a strong 12% compound annual growth rate following the pandemic recovery period. The market is being transformed by shifting consumer preferences toward branded and premium products. Technological innovations and rising disposable incomes are turning luggage from basic utility items into lifestyle statements.

Key Points: Indian Luggage Industry to Reach Rs 267 Billion by 2028

  • Industry rebounded with 37% CAGR after COVID-19 pandemic contraction
  • Branded players expected to outpace overall market growth
  • Premium segment growing fastest among Millennial and Gen Z consumers
  • Smart luggage with GPS and USB ports driving product innovation
  • E-commerce expansion supporting organized players and premiumization
2 min read

Indian luggage industry to touch Rs 267 Bn by 2028, Says Motilal Oswal Report

Motilal Oswal report projects 12% CAGR growth for Indian luggage market, driven by travel recovery, premiumization, and branded product shift.

"Indian luggage industry is projected to reach Rs 267b by CY28 - Motilal Oswal Report"

New Delhi, October 29

The Indian luggage industry is projected to reach Rs 267 billion by calendar year 2028, growing at a compound annual growth rate (CAGR) of 12 per cent over CY23-CY28, according to a report by Motilal Oswal.

The report highlighted that after contracting sharply to Rs 60 billion in CY20 due to the COVID-19 pandemic, the sector rebounded strongly, clocking a robust 37 per cent CAGR between CY20 and CY23.

It stated "Indian luggage industry is projected to reach Rs 267b by CY28".

This recovery was supported by a surge in domestic and international travel, rising disposable incomes, and a growing preference for organized and branded products.

Branded players, which held a 52 per cent market share in CY23, are expected to outpace overall industry growth.

The report noted that this segment will continue to benefit from rapid urbanization, premiumization, and the increasing shift from unbranded to branded products.

Product innovation, expansion of e-commerce, and rising consumer aspirations are further driving this transformation.

Industry estimates pegged the size of the Indian luggage market at Rs 170 billion in CY24, with branded products gaining higher market share and presenting significant conversion potential.

Analysts believe that the ongoing transition from utility-based purchases to lifestyle-oriented consumption is reshaping the industry.

According to the report, India's luggage market is witnessing a shift in perception, as luggage is increasingly being viewed as a status symbol.

This change is being fueled by evolving social trends, rising urban incomes, and wider exposure to global lifestyles. Increasing discretionary spending, shorter product replacement cycles, and growing demand from semi-urban and rural areas are also expanding the consumer base.

The report mentioned that the premium segment remains the fastest-growing category, supported by Millennials and Gen Z consumers aspiring for lifestyle upgrades.

The report also highlighted that technological innovations--such as smart luggage with GPS tracking, USB charging ports, and mobile app connectivity--are turning luggage into a high-utility and aspirational product.

The continued expansion of e-commerce and modern retail formats is expected to further support organized players and drive premiumization in the years ahead.

- ANI

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Reader Comments

R
Rohit P
The recovery from COVID has been remarkable. I remember during lockdown, no one was buying luggage. Now everyone is traveling again - both domestic and international. Indian brands like Safari and VIP are really stepping up their game with better designs and features.
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Arjun K
While the growth numbers look impressive, I hope this doesn't lead to excessive consumerism. We should also focus on sustainable luggage options. Many premium brands are quite expensive for the average Indian family. Hope there are affordable quality options too.
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Sarah B
The GPS tracking feature mentioned in the article is a game-changer! Lost my luggage once during international travel and it was a nightmare. Smart luggage with such features is definitely worth the investment for frequent travelers.
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Vikram M
Good to see Indian luggage industry growing so well. With more people traveling for work and leisure, this was expected. The shift from unbranded to branded shows that quality matters to Indian consumers now. Make in India initiative is also helping domestic manufacturers.
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Kavya N
As someone from a tier-2 city, I can confirm the trend. Even in smaller towns, people are buying branded luggage for weddings, vacations, and gifting purposes. It's become a status symbol indeed. The e-commerce boom has made these products accessible to everyone. 🛍️

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