As per this study the Global Travel Retail Market was valued USD 116.23 BN (by revenue) in 2022 and is anticipated to reach USD 256.12 BN by 2030 with a CAGR of 10.38%.
Travel retail is an industry that sells goods to international travelers. These products are basically available in duty-free shops and are exempt from the payment of certain taxes and excise duties only if the products are sold to travelers who will take these products out of the country. Airports represent the majority of sales of such products but these duty-free products are also available at some international railway stations and downtown stores in some countries where proof of traveler is required.
Market Dynamics
The growing travel and tourism industry coupled with the increasing demand for electronics, luxury goods, and food products in the duty-free environment is driving the market growth. The growing number of international travelers owing to growing disposable income and rapid urbanization in emerging economies is further fuelling market growth. On the other hand, stringent government regulations in airport retailing may hamper market growth. Whereas, affordable travel choices and the rising millennial population is expected to offer an opportunity during the forecast period.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter's five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of travel retail.
Market Segmentation
The broad travel retail market has been sub-grouped into product type and channel. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Channel
- Airport
- Cruise Liner
- Railway/ Metro Station
- Downtown Duty-free
By Product Type
- Perfumes & Cosmetics
- Wine & Spirit
- Electronics
- Luxury Goods
- Food, Confectionery, & Catering
- Tobacco
- Others
Regional Analysis
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for travel retail in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Travel Retail Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the travel retail market include Dufry, Lotte Duty Free, The Shilla Duty Free, China Duty Free Group, Lagardere Travel Retail, DFS Group, Gebr Heinemann, Sinsegae Duty Free, King Power International Group, Ever Rich Duty Free. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
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