The Europe travel retail market size was valued at $23.03 billion in 2017, and is projected to reach $39.60 billion by 2025, growing at a CAGR of 7.2% from 2018 to 2025.
Europe is one of the largest travel retail markets owing to its stronger base of luxury products. The region possesses some of the biggest apparels and cosmetic brands, namely LVMH from France and H&M from Sweden, which account for a significant share in the luxury apparels, perfumes, and cosmetics sector, thereby making it one of the largest travel retail market in 2017. Wealthy tourists from the Middle East, China, the U.S., and Russia continue to contribute a significant part in the market.
Rise in disposable income has improved the consumer lifestyle and helped shift their preference toward apparels, luxury goods, premium fragrances, cosmetics, and other products. However, stringent government regulations in airport retailing are expected to hamper the market growth.
The Europe travel retail market is segmented based on product, channel, and country. The product segment includes perfumes & cosmetics, wine & spirits, tobacco, electronics, luxury goods, food & confectionery, and catering & others. In 2017, the perfumes & cosmetics segment accounted for the maximum revenue with more than 30% market share. Based on channel, the Europe travel retail market is classified into airports; cruise liners; railway stations; and border, downtown, & hotel shops. Based on country, it is analyzed across the UK, Germany, France, Italy, Spain, and rest of Europe.
Based on product type, the luxury goods segment is anticipated to register highest growth during the forecast period in the Europe travel retail market. The purchase of these goods is dependent on the economic stability of any region, as the goods are majorly procured by the upper economic classes.
The report offers a comprehensive analysis of the key players such as Autogrill S.p.A., daa Plc., Dufry AG, Flemingo International Ltd., Gebr. Heinemann SE & Co. KG, Lagard?re SCA, LVMH Group, RegStaer, TRE?, and WH Smith PLC.
KEY BENEFITS FOR STAKEHOLDERS
- This study presents the analytical depiction of the Europe travel retail market trends and future estimations to determine the imminent investment pockets.
- A detailed analysis of the Europe travel retail market segments measures the potential of the market. These segments outline the favorable conditions for the market forecast.
- Europe travel retail market forecasts are offered along with information related to key drivers, restraints, and opportunities.
- The current Europe travel retail market is quantitatively analyzed from 2018 to 2025 to highlight the financial competency of the industry.
- Porter’s five forces analysis illustrates the potency of the buyers & suppliers in the industry.
KEY MARKET SEGMENTS
By Product Type
- Perfume & Cosmetics
- Wine & Spirits
- Food, Confectionery & Catering
- Luxury Goods
- Cruise Liner
- Railway Station
- Border, Down-Town, & Hotel Shops
- Rest of Europe