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The global duty-free and travel retail market size reached US$ 34.13 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 54.85 Billion by 2027, exhibiting a growth rate (CAGR) of 8.10% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Duty-free and travel retail refers to a retailing channel that offers tax-free goods to international travelers. It includes shops, stores, and outlets established in travel environments, such as airports, ferries, and seaports. Duty-free and travel retail sells wide-ranging products, including beauty and personal care, wine and spirits, tobacco, eatables, fashion accessories, and luxury items. It offers lower prices on goods and products, increases brand awareness, and provides convenience to travelers by delivering various merchandise. As a result, duty-free and travel retail generate significant revenue for the travel, tourism, aviation, and maritime industries.
The significant growth in the tourism industry is one of the key factors driving the market growth. In line with this, the increased time spent by passengers at airports due to security concerns and early check-in times is favoring the market growth. Additionally, the increasing preference for luxury and premium products, such as cosmetics, fragrances, and alcohol, is acting as another growth-inducing factor. Besides this, the rising air travel and proliferation of new international airports due to the rapidly expanding aviation industry is providing a considerable boost to market growth. Moreover, the introduction of touch screens and interactive retail kiosks, which offers seamless ordering and payment solutions, is providing an impetus to the market growth. Apart from this, the widespread adoption of new marketing strategies by brands, such as launching exclusive and limited products and partnerships with prominent distribution chains to gain a competitive edge, is propelling the market growth. Furthermore, the implementation of various government initiatives promoting international tourism is positively influencing the market growth. Other factors, including rising expenditure capacities of the consumers, emerging trends of digitalization in retailing processes, the rising consumer inclination for premium wines and spirits, and the introduction of pre-ordering applications, are anticipated to drive the market growth.
IMARC Group provides an analysis of the key trends in each sub-segment of the global duty-free and travel retail market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product type and distribution channel.
Breakup by Product Type:
Breakup by Distribution Channel:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Aer Rianta International, China Duty Free Group Co. Ltd., Dubai Duty Free, Dufry, Duty Free Americas Inc., Gebr. Heinemann SE & Co. KG, James Richardson Group, King Power International, Lagardère Travel Retail, Lotte Duty Free, Sinsegae Duty Free and The Shilla Duty Free.
|Base Year of the Analysis||2021|
|Segment Coverage||Product Type, Distribution Channel, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||Aer Rianta International, China Duty Free Group Co. Ltd., Dubai Duty Free, Dufry, Duty Free Americas Inc., Gebr. Heinemann SE & Co. KG, James Richardson Group, King Power International, Lagardère Travel Retail, Lotte Duty Free, Sinsegae Duty Free and The Shilla Duty Free.|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2499
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Corporate License: US$ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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