Vietnam Travel Retail Market Size, Share, Trends and Forecast by Product Type, Sector, Distribution Channel, and Region, 2025-2033

Vietnam Travel Retail Market Overview:

The Vietnam travel retail market size reached USD 260.00 Million in 2024. The market is projected to reach USD 448.68 Million by 2033, exhibiting a growth rate (CAGR) of 6.25% during 2025-2033. The market is fueled by digital transformation and e-commerce integration, revolutionizing shopping experiences. Apart from this, premium international brand partnerships are expanding luxury offerings, and comprehensive infrastructure development is modernizing airport facilities across the country. Additionally, the surge in international tourist arrivals, supported by government initiatives and improved connectivity, is significantly expanding the Vietnam travel retail market share.

Vietnam Travel Retail Market Trends:

Digital Transformation and E-commerce Integration

The industry is experiencing a dramatic digital transformation, completely transforming the way customers interact with products and services in airports and transport hubs. Additionally, combining higher technologies such as artificial intelligence, biometric authentication, and omnichannel platforms is leading to frictionless shopping experiences for passengers. E-commerce platforms are being integrated into conventional duty-free services, with passengers having the option of pre-ordering products on the internet and picking them up from airports to ensure increased convenience and lower transaction times. With an 78.8% internet penetration rate, mobile commerce solutions and electronic payment systems are becoming the norm across major airports, catering to the tech-aware inclinations of younger consumers who account for a large percentage of Vietnam's population. This technology is allowing retailers to capture rich customer data, tailor their offerings, and enhance inventory management while opening new revenue streams in digital channels that supplement physical retail spaces.

Premium International Brand Partnerships and Expansion

The industry is experiencing an unprecedented surge of high-end international brands forming strategic partnerships with local operators and airport authorities. International beauty, fashion, and lifestyle brands are appreciating Vietnam's gateway potential to Southeast Asia, resulting in high-end collaborations and luxury retail developments. Such partnerships are launching high-caliber product lines, limited-edition exclusives, and bespoke services that respond to the changing tastes of high-spending travelers, especially from China and Korea. Vietnam attracted 17.6 million international visitors in 2024, representing a 40% year-over-year growth, directly driving travel retail demand. The growth encompasses not just product diversification but also new retail formats in the form of pop-up stores, experiential stores, and brand spaces that provide an immersive shopping experience. The world's leading international brands are also spending money on staff training, customer service excellence, and local market adaptation to connect their products with both domestic and international visitors and drive the Vietnam travel retail market growth by delivering enhanced customer experiences and elevated spending per passenger.

Infrastructure Development and Airport Modernization

The focus of Vietnam on upgrading its aviation infrastructure is unlocking unprecedented opportunities for travel retail expansion and sophistication. Major airports are going through massive overhauls, such as new terminal building construction, expansion of current facilities, and the introduction of smart airport technology. These changes are expanding retail space availability, enhancing passenger movement management, and developing better environments for shopping and commercial pursuits. In addition, the new Long Thanh International Airport, opening in 2026, is a flagship development that will set new standards for travel retail across the region with large commercial areas planned to maximize passenger interaction and shopping. Terminal developments at Tan Son Nhat and Noi Bai airports are integrated with innovative retail ideas, enhanced accessibility, and greater connectivity between shopping areas and passenger gates. This modernization of Vietnam's infrastructure is drawing foreign airport commercial operators and paving the way for public-private partnerships that introduce global experience and investment into the market.

Vietnam Travel Retail Market Segmentation:

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, sector, and distribution channel.

Product Type Insights:

• Perfume and Cosmetics
• Wine and Spirit
• Electronics
• Luxury Goods
• Food, Confectionery and Catering
• Tobacco
• Others

A detailed breakup and analysis of the market based on the product type have also been provided in the report. This includes perfume and cosmetics, wine and spirit, electronics, luxury goods, food, confectionery and catering, tobacco, and others.

Sector Insights:

• Duty-Free
• Duty Paid

The report has provided a comprehensive analysis of all the major sector. This includes duty-free and duty paid.

Distribution Channel Insights:

• Airports
• Cruise Liner
• Railway Station
• Border, Downtown and Hotel Shop

A detailed breakup and analysis of the market based on the distribution channel have also been provided in the report. This includes airports, cruise liner, railway station, and border, downtown and hotel shop.

Regional Insights:

• Northern Vietnam
• Central Vietnam
• Southern Vietnam

The report has also provided a comprehensive analysis of all the major regional markets. This includes Northern Vietnam, Central Vietnam, and Southern Vietnam.

Competitive Landscape:

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.

Vietnam Travel Retail Market News:

• In October 2024, the Estée Lauder Companies, in partnership with IPP Travel Retail, inaugurated their first duty-paid boutique at Hanoi Noi Bai International Airport. Encompassing 120 square meters, the boutique presents a curated selection of renowned brands such as Estée Lauder, Tom Ford, Jo Malone, and MAC. The opening represents an important advancement in the company’s strategy to expand its presence and capture opportunities within Vietnam’s rapidly growing travel retail sector.
• In July 2024, Dior entered into its first collaboration with Lotte Duty Free in Vietnam by unveiling a summer pop-up store at Da Nang International Airport. The space showcases Dior’s range of makeup, skincare, and fragrances, inspired by the elegance of the French Riviera. This initiative aligns with the surge in Da Nang’s tourism sector, where international arrivals rose by 20.7% in the early months of 2024.

Vietnam Travel Retail Market Report Coverage:

Key Questions Answered in This Report:

• How has the Vietnam travel retail market performed so far and how will it perform in the coming years?
• What is the breakup of the Vietnam travel retail market on the basis of product type?
• What is the breakup of the Vietnam travel retail market on the basis of sector?
• What is the breakup of the Vietnam travel retail market on the basis of distribution channel?
• What is the breakup of the Vietnam travel retail market on the basis of region?
• What are the various stages in the value chain of the Vietnam travel retail market?
• What are the key driving factors and challenges in the Vietnam travel retail market?
• What is the structure of the Vietnam travel retail market and who are the key players?
• What is the degree of competition in the Vietnam travel retail market?

Key Benefits for Stakeholders:

• IMARC's industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Vietnam travel retail market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Vietnam travel retail market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Vietnam travel retail industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.