Asia-Pacific Travel Beauty Retail Market, By Product (Skin Care, Fragrances, Make-up, Hair Care, and Others), Distribution Channel (Airports, Airlines, Ferries, and Other Channels), Country (Japan, China, South Korea, India, Australia & New Zealand, Singapore, Thailand, Indonesia, Malaysia, Philippines, Rest of Asia-Pacific), Industry Trends and Forecast to 2029.
Market Analysis and Insights : Asia-Pacific Travel Retail Market
Asia-Pacific travel beauty retail market is expected to gain significant growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyzes that the market is growing at a CAGR of 5.3% in the forecast period of 2022 to 2029 and is expected to reach USD 13,528,402.02 thousand by 2029. The rising popularity of travel and tourism may augment the Asia-Pacific travel beauty retail market.
Travel retail, also called duty-free, is a sales procedure comprising the commercialization of the goods relating to the various product categories. This sales channel comprises the goods that have not had the taxation and excise applied on their sale price and for sales to travelers. Travel retail is a retailing channel, providing products to international travelers. It is an important source of income and has several marketing prospects.
The rising popularity of travel and tourism and the increase in the millennial population are expected to drive the demand for the Asia-Pacific travel beauty retail market. However, stringent government guidelines towards airport retailing may further restrict the market's growth.
Several boosters, such as increasing collaborative partnership among luxurious and premium brands, may create opportunities for the Asia-Pacific travel beauty retail market. However, a lack of awareness regarding travel retail is likely to challenge the market's growth during the forecast period.
This Asia-Pacific travel beauty retail market report provides details of market share, new developments, and product pipeline analysis, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario, contact us for an Analyst Brief; our team will help you create a revenue impact solution to achieve your desired goal.
Asia-Pacific Travel Beauty Retail Market Scope and Market Size
Asia-Pacific travel beauty retail market is segmented into two notable segments, based on product and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product, the Asia-Pacific travel beauty retail market is segmented into skin care, hair care, fragrances, make-up, and others. In 2022, the skin care segment is projected to dominate the region since skin care products use natural ingredients.
- On the basis of distribution channel, the Asia-Pacific travel beauty retail market is segmented into airports, airlines, ferries, and other channels. In 2022, the airports segment is projected to dominate the region since it is convenient to travel.
Asia-Pacific Travel Beauty Retail Market Country Level Analysis
The Asia-Pacific travel beauty retail market is segmented into two notable segments, based on country, product, and distribution channel.
The countries covered in the Asia-Pacific travel beauty retail market are Japan, China, South Korea, India, Australia & New Zealand, Singapore, Thailand, Indonesia, Malaysia, Philippines, Rest of Asia-Pacific. In 2022, China is expected to dominate the Asia-Pacific region due to increased tourism activities. India is expected to dominate as there is a high demand for perfumes.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts, and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of sales channels are considered while providing forecast analysis of the country data.
Increasing Millennial Population
The Asia-Pacific travel beauty retail market also provides you with detailed market analysis for every country's growth in an installed base of different kinds of products for the market, the impact of technology using life line curves and changes in infant formula regulatory scenarios, and their impact on the market. The data is available for the historical period 2011 to 2020.
Competitive Landscape and Asia-Pacific Travel Beauty Retail Market Share Analysis
The Asia-Pacific travel beauty retail market competitive landscape provides details by the competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, clinical trials pipelines, brand analysis, product approvals, patents, product width and breadth, application dominance, and technology lifeline curve. The above data points provided are only related to the company's focus related to the Asia-Pacific travel beauty retail market.
Some of the major market players operating in the Asia-Pacific travel beauty retail market are LOTTE DUTY FREE, KING POWER International, Duty Free Americas, Inc, Aer Rianta International, China Duty Free Group Co.,Ltd., DELHI DUTY FREE, THE SHILLA duty free, Lagardère Travel Retail, DFS Group Ltd, Gebr. Heinemann SE & Co. KG, Sky Connection Limited, DUFRY, Shiseido Company, Limited, among others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
- In August 2021, DURFY successfully extended its contract to operate the tax and duty-free store at Cardiff Airport in Wales for 12 years, following a successful partnership for the past 20 years
- In January 2021, Lagardère Travel Retail announced the opening of three Aelia Duty Free stores at Jorge-Chávez international airport in Lima, Peru, with a profit-sharing agreement concluded with Lima Airport Partners (LAP) last year. These openings mark the very beginning of the Group's operations in Latin America, which will help in serving a wider consumer base