The global demand for Duty-Free Liquor Market is presumed to reach the market size of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% under the study period 2022 - 2028.
Duty-free liquor is a concept of offering liquor without charging import duties. The whole idea is based on the fact that airport terminals represent territories not belonging to any specific country; therefore, taxation laws may not be applicable. Liquor products are the best deals simply because they are subject to the highest taxes. Duty-free liquors are found at international airports, ports, cruise ships, border towns, onboard international flights, and some downtown stores.
Market Dynamics
The global duty-free liquor market is estimated to witness lucrative growth in the future. Duty-free liquor is one of the fastest-growing segments in the duty-free market. The market will deliver outstanding prospects for growth over the next seven years due to factors such as population growth, economic growth, and the globalization process. The market will show robust growth due to growing people spending money in airports, specifically by population from emerging markets where the medium and upper classes are growing and travel even more. Many companies have begun to look at the duty-free market as an opportunity for success and relative expansion of their business. However, restriction on inter-nation traveling owing to the COVID-19 pandemic is estimated to restrain the global market growth.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of duty-free liquor. The growth and trends of duty-free liquor industry provide a holistic approach to this study.
Market Segmentation
This section of the duty-free liquor market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Type
- Beer
- Wine
- Vodka
- Cognac
- Whiskey
- Others
By Channel
- Cruise liners
- Airports
- Railway Station
- Others
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Duty-Free Liquor market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Duty-Free Liquor Market Share by Region (Representative Graph)
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The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the duty-free liquor market include Brown-Forman, Diageo, Erdington, Bacardi, Heineken, Glen Moray, Accolade Wines, Constellation Brands, Inc, Remy Cointreau, Pernod, and Ricard. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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