The Global Duty Free & Travel Retail Market was valued at USD 29.89 Billion in the year 2020. The growing demand for retail chains that offer luxury and premium brands of various products is augmenting the growth of the duty-free and travel retail market. The distribution channels offer value to passengers, enhance their experiences while travelling, and add value to economic activities, hence, paving way for the growth in the market during the forecast period 2021-2026.
Based on Product, the market is segmented into Wines & Spirits, Fashion & Accessories, Fragrances & Cosmetics, Tobacco Goods and Others. The Fragrances and Cosmetics segment is expected to grow at a higher CAGR during the forecast period. The growth of fragrances and perfumes in the travel retail market is primarily influenced by unpredictable and continuously changing fashion trends. Thus, the key market players are focusing on developing exciting, unique, and new fragrances to attract different consumer groups across the world.
APAC is expected to hold the largest market share in the Global Duty Free & Travel Retail market in 2026. APAC is also expected to be the fastest growing region as well owing to the rising consumer base in the countries including India, China, and South Korea. Furthermore, there is an increasing travel expenditure by the consumers of the regions owing to the increase in the per capita income which is poised to propel the market growth of the Duty Free and Travel Retail market forecast period 2021-2026.
The growing demand from retail chains that offer luxury and premium brands of various products is augmenting the growth of the duty-free and travel retail market. Several companies are partnering with duty-free stores to launch their limited or exclusive products, which is driving the market growth.
Scope of the Report
- The report presents the analysis of Duty Free & Travel Retail market for the historical period of 2016-2020 and the forecast period of 2021-2026.
- The report analyses the Duty Free & Travel Retail Market by Value (USD Million).
- The report analyses the Duty Free & Travel Retail Market by Location (Airlines, Airport Shops, Ferries, Other Shops).
- The report analyses the Duty Free & Travel Retail Market by Product (Wines & Spirits, Fashion & Accessories, Fragrances & Cosmetics, Tobacco Goods, Others).
- The Global Duty Free & Travel Retail Market has been analysed by countries (United States, Canada, United Kingdom, Italy, France, Germany, China, Japan, India, Australia).
- The key insights of the report have been presented through the frameworks of SWOT and Porter’s Five Forces Analysis. Also, the attractiveness of the market has been presented by region, by Location and Product.
- Also, the major opportunities, trends, drivers and challenges of the industry have been analysed in the report.
- The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analysed in the report include Dufry, WH Smith, B&M, Kingfisher, Dublin Airport Authority, Japan Airport Terminal Co., Tallink Group, Duty Free Americas, Gebr. Heinemann SE & CO.KG, Qatar Duty Free.
Key Target Audience
- Duty Free & Travel Retail Industry Vendors
- Major Airports
- Consulting and Advisory Firms
- Government and Policy Makers
- Regulatory Authorities