The Vietnam duty-free and travel retail market size reached USD 173.20 Million in 2024. Looking forward, the market is projected to reach USD 241.65 Million by 2033, exhibiting a growth rate (CAGR) of 3.77% during 2025-2033. Rising disposable incomes, expanding tourism, and an increase in foreign visitors are the main drivers of the sector. The Vietnam duty-free and travel retail market share is also being driven by the desire for upscale and convenient products at airports as well as strategic alliances between airlines and shops.
Report Attribute
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Key Statistics
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Base Year
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2024 |
Forecast Years
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2025-2033
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Historical Years
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2019-2024
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Market Size in 2024 | USD 173.20 Million |
Market Forecast in 2033 | USD 241.65 Million |
Market Growth Rate 2025-2033 | 3.77% |
Rising Tourism and Travel Frequencies
The surge in inbound tourism to Vietnam, coupled with rising travel frequencies, is a key driver of the Vietnam duty-free and travel retail market growth. For instance, in November 2024, Airport Dimensions partnered with Southern Airports Services Joint Stock Company (SASCO) to enhance the airport experience in Vietnam. This collaboration will focus on refurbishing the Rose Lounge at Tan Son Nhat International Airport. The partnership aims to leverage both companies' expertise to improve the quality of airport lounges in Vietnam, positioning the country as a growing regional hub for tourism and business. As more international travelers visit the country, the demand for duty-free products at airports and travel retail outlets has risen. The Vietnamese government’s efforts to improve the tourism infrastructure, including expanding airports and enhancing visa policies, have also contributed to the increase in tourist arrivals. As more travelers seek premium products and local goods at competitive prices, duty-free outlets have capitalized on this demand, offering exclusive product lines and services tailored to international consumers. This trend is expected to continue, further boosting the Vietnam duty-free and travel retail market share.
Luxury Goods and Product Diversification
The rising demand for luxury products like cosmetics, fragrances, and high-end alcoholic beverages has led to expansion in the duty-free and travel retail markets in Vietnam. High-end goods are more likely to be purchased as middle-class and upper-class consumers' disposable income rises, particularly at airports and travel retail establishments where they are sometimes offered at reduced costs due to tax exemptions. In order to satisfy the diverse tastes of foreign customers, especially those from China and Korea, retailers have expanded the range of products they provide. The expansion of the Vietnam duty-free and travel retail business has been largely attributed to the availability of a large selection of luxury and regional goods at competitive prices. For instance, in July 2024, Dior announced its first partnership with Lotte Duty Free in Vietnam, launching a summer pop-up at Da Nang International Airport. The pop-up will feature Dior's makeup, skincare, and fragrances, designed to reflect the ambiance of the French Riviera. This collaboration comes amid growing tourism in Da Nang, which saw a 20.7% increase in international visitors in early 2024.
IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country and regional levels for 2025-2033. Our report has categorized the market based on product type and distribution channel.
Product Type Insights:
The report has provided a detailed breakup and analysis of the market based on the product type. This includes beauty and personal care, wines and spirits, tobacco, eatables, fashion accessories and hard luxury, and others.
Distribution Channel Insights:
A detailed breakup and analysis of the market based on the distribution channel has also been provided in the report. This includes airports, airlines, ferries, and others.
Regional Insights:
The report has also provided a comprehensive analysis of all the major regional markets, which include Northern Vietnam, Central Vietnam, and Southern Vietnam.
The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.
Report Features | Details |
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Base Year of the Analysis | 2024 |
Historical Period | 2019-2024 |
Forecast Period | 2025-2033 |
Units | Million USD |
Scope of the Report |
Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment:
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Product Types Covered | Beauty and Personal Care, Wines and Spirits, Tobacco, Eatables, Fashion Accessories and Hard Luxury, Others |
Distribution Channels Covered | Airports, Airlines, Ferries, Others |
Regions Covered | Northern Vietnam, Central Vietnam, Southern Vietnam |
Customization Scope | 10% Free Customization |
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) |
Key Questions Answered in This Report:
Key Benefits for Stakeholders: