Global Travel Retail Market, By Product (Perfume and Cosmetics, Wine and Spirit, Electronics, Luxury Goods, Food, Confectionery and Catering, Tobacco, and Others), Distribution Channel (Airport, Cruise Liner, Railway Station, and Border, Downtown, and Hotel Shop), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
The travel retail market is expected to be growing at a growth rate of 13.95% in the forecast period of 2021 to 2028. The travel retail market report analyses the growth, which is currently being growing due to the rising popularity of the travel and the tourism industry.
Travel retail also called as duty free is a sales procedure comprising of the commercialization of the goods relating to the various product categories. This sales channel comprises of the goods that have not had the taxation, excise applied on their sale price and for sales to customers that are travellers. travel retail is a retailing channel, providing products to international travelers. It is an important source of income and has several marketing prospects.
Major factors that are expected to boost the growth of the travel retail market in the forecast period are the upsurge in the travel and tourism sector that has increased the demand for apparels, cosmetics, food items, and electronic retail, rise in the urbanization and change in the lifestyle and the growing of the disposable income amongst the middle income groups. Furthermore, the development in the economic conditions, increase in the number of international travellers and the technological advancements are few of the factors further anticipated to propel the growth of the travel retail market in the timeline period.
Moreover, the rise in the number of millennial populations, the growing attention on the digitalizing of the retailing procedure and the increase in the demand for retail chains that provide luxury and premium brands of different products are some of the other factors further estimated to cushion the growth of the travel retail market in the coming years. However, the chaotic local markets, the stringent government guidelines and the little consumer interest in shopping at the airports are further projected to impede the growth of the travel retail market in the near future.
This travel retail market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on the travel retail market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Travel Retail Market Scope and Market Size
The travel retail market is segmented on the basis of product and distribution channel. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of product, the travel retail market is segmented into perfume and cosmetics, wine and spirit, electronics, luxury goods, food, confectionery and catering, tobacco, and others.
- On the basis of distribution channel, the travel retail market is segmented into airport, cruise liner, railway station, and border, downtown, and hotel shop.
Travel Retail Market Country Level Analysis
The travel retail market is analysed and market size, volume information is provided by country, product and distribution channel as referenced above.
The countries covered in the travel retail market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia Pacific dominates travel retail market due to the increasing of the middle-class population. Furthermore, the growing travel and tourism sector in the advancing countries. Additionally, the improved standard of living as a result of growing of the customer disposable income levels in the developing nations will further boost the growth of the travel retail market in the region during the forecast period.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Travel Retail Market Share Analysis
The travel retail market competitive landscape provides details by 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, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to travel retail market.
The major players covered in the travel retail market report are Aer Rianta International, DFS Group Ltd., KING POWER International, DubaiDutyFree.com, China Duty Free Group Co., Ltd., Gebr. Heinemann SE & Co. KG; Dufry, Duty Free Americas, Inc., Lotte Duty Free, Lagardère Travel Retail, THE SHILLA DUTY FREE, Flemingo, JR/Group, Qatar Duty Free, 3Sixty Duty Free, DFS Group, DUFRY GROUP, Lagardère travel retail, KING POWER International, The Naunace Group, Lagardere Group, DFASS Group, among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Global Travel Retail Market
Data Bridge Market Research is a leader in consulting and advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customised to include production cost analysis, trade route analysis, price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), import export and grey area results data, literature review, consumer analysis and product base analysis. Market analysis of target competitors can be analysed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.