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Global Travel Retail Market – Industry Trends and Forecast to 2030

  • FMCG
  • Upcoming Report
  • Sep 2023
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Travel Retail Market – Industry Trends and Forecast to 2030

Market Size in USD Billion

CAGR - 14.09% Diagram

Diagram Forecast Period 2022–2030
Diagram Market Size (Base Year) USD 61.41 Billion
Diagram Market Size (Forecast Year) USD 176.27 Billion
Diagram CAGR 14.09%

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), Sector (Duty-Free and Duty Paid), End Users (Children (Less Than 18 Years Old), Youth (18-30 Years Old), Middle-Aged (18-59 Years Old), The Elder (Greater Than 60 Years Old)) - Industry Trends and Forecast To 2030.

Travel Retail Market

Global Travel Retail Market Analysis and Size

A retail channel is known as "travel retail" caters to international travellers. It has a big income potential and a variety of marketing alternatives. The worldwide aviation, travel, and tourism industries depend on duty-free and travel retail to generate significant revenues. The number of travellers from outside has caused the travel retail sector to grow significantly in recent years.

Data Bridge Market Research analyses that the global travel retail market which was USD 61.41 Billion in 2022, is expected to reach USD 176.27 Billion by 2030, and is expected to undergo a CAGR of 14.09% during the forecast period of 2023 to 2030. The Perfume and Cosmetics segment is expected to dominate the market globally due to its versatility. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and consumer behaviour.

Travel Retail Market Scope and Segmentation

Report Metric

Details

Forecast Period

2023 to 2030

Base Year

2022

Historic Years

2021 (Customizable to 2015-2020)

Quantitative Units

Revenue in USD Thousand, Pricing in USD Billion

Segments Covered

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), Sector (Duty-Free and Duty Paid), End Users (Children (Less Than 18 Years Old), Youth (18-30 Years Old), Middle-Aged (18-59 Years Old), The Elder (Greater Than 60 Years Old))

Countries Covered

U.S., Canada, Mexico, Germany, U.K., Italy, France, Spain, Russia, Turkey, Switzerland, Belgium, Netherlands, rest of Europe, Japan, China, South Korea, India, Australia and New Zealand, Singapore, Thailand, Indonesia, Malaysia, Philippines, rest of Asia-Pacific, Brazil, Argentina, rest of South America, South Africa, Egypt, Saudi Arabia, United Arab Emirates, Israel and rest of Middle East and Africa

Market Players Covered

KING POWER International. (Hong Kong), Aer Rianta International (Ireland), DFS Group Ltd. (Hong Kong), Dubai Duty Free. (U.A.E.), China Duty Free Group Co.,Ltd. (China), Gebr. Heinemann SE & Co. KG (Germany), Duty Free Americas, Inc. (U.S.), HOTEL SHILLA CO., LTD. (South Korea), Flemingo. (India), J.R. GROUP (India), Qatar Duty Free (Qatar), 3Sixty Duty Free (U.S.), Dufry (Switzerland), Lagardere Group (France)

Market Opportunities

  • Emerging Markets and Infrastructure Development
  • Rise in per capita income

Market Definition

The global travel retail market, also known as duty-free or travel-exclusive retail, refers to the sale of goods and services to international travellers at designated locations such as airports, seaports, train stations, and border crossings, this sales channel includes sales to clients who are travellers and sales of items that have not had taxes or excises imposed on their sale prices. Travel retail is a retailing outlet that sells goods to visitors from other countries. It has several marketing opportunities and is a significant source of cash.

Global Travel Retail Market Dynamics

Drivers

  • Offers a Unique Shopping Experience

Travel retail offers a distinct shopping experience for travellers. It provides a combination of convenience, variety, and exclusivity. Duty-free stores often feature a wide range of products, including luxury goods, cosmetics, fragrances, electronics, and alcohol. The opportunity to shop for premium products at tax-free or reduced prices, along with the novelty of exclusive items, attracts shoppers.

  • Rising Number of International Travelers

The rising number of international travellers is a significant driver for the travel retail market. As more people travel for leisure, business, or other purposes, they have the opportunity to shop at duty-free stores located in airports, seaports, train stations, and other travel hubs. The growing travel population provides a larger customer base for travel retail outlets.

Opportunity

  • Emerging Markets and Infrastructure Development

The expansion and development of transportation infrastructure, such as new airports and travel hubs, contribute to the growth of the global travel retail market. Emerging markets with a rising middle class and increased air travel provide growth opportunities for the industry.

Restraint/Challenge

  • Regulatory and Customs Restrictions

The global travel retail market operates within a regulatory framework that includes customs and tax regulations. Complex customs procedures, varying duty-free allowances, and regulations related to restricted or prohibited items can create challenges for travel retailers. These regulations can impact the product assortment, pricing, and overall customer experience.

Recent Developments

  • In March 2021, Using Amazon's Just Walk Out technology, the Hudson Group, owned by Dufry, formally debuted its first Hudson Nonstop location at Dallas Love Field Airport (DAL) on February 22, 2021. With the aid of the Just Walk Out technology, customers may pick up items in a physical store, make their purchases, and then check out
  • In February 2021, in collaboration with Shenzhen Duty Free Group, DFS launched the first phase of a brand-new downtown duty-free shopping centre in Haikou Mission Mills, Hainan, on January 30, 2021. On May 7–10, 2021, in Hainan, China, the first China International Consumer Products Expo will showcase a luxury lineup from DFS Group in a number of categories

Global Travel Retail Market Scope

The global travel retail market is segmented on the product, sector, distribution channel and end users.  The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

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

Distribution channel

  • Airport
  • Cruise Liner
  • Railway Station
  • Border
  • Downtown
  • Hotel Shop

Sector

  • Duty-Free
  • Duty-Paid

End user

  • Children (less than 18 years old)
  • Youth (18-30 years old)
  • Middle-aged (18-59 years old)
  • The Elder (greater than 60 years old)

Global Travel Retail Market Regional Analysis/Insights

The global travel retail market is analysed and market size insights and trends are provided by product, distribution channel, sector and end users as referenced above.

The countries covered in the global travel retail market report are U.S., Canada, Mexico, Germany, U.K., Italy, France, Spain, Russia, Turkey, Switzerland, Belgium, Netherlands, rest of Europe, Japan, China, South Korea, India, Australia and New Zealand, Singapore, Thailand, Indonesia, Malaysia, Philippines, rest of Asia-Pacific, Brazil, Argentina, rest of South America, South Africa, Egypt, Saudi Arabia, United Arab Emirates, Israel and rest of Middle East and Africa.

Asia-Pacific is expected to dominate due to the rapid development of infrastructure, and growing travel and tourism industry especially in China and India. Rising per capita income in combination with enhanced standard of living is also bolstering the growth of the market. 

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 like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of 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 Global Travel Retail Market Share Analysis

The global 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, North America presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the nucleating and clarifying agents market.

Some of the major players operating in the global travel retail market are:

  • KING POWER International. (Hong Kong)
  • Aer Rianta International (Ireland)
  • DFS Group Ltd. (Hong Kong)
  • Dubai Duty Free. (U.A.E.)
  • China Duty Free Group Co.,Ltd. (China)
  • Gebr. Heinemann SE & Co. KG (Germany)
  • Duty Free Americas, Inc. (U.S.)
  • HOTEL SHILLA CO., LTD. (South Korea)
  • Flemingo. (India)
  • J.R. GROUP (India)
  • Qatar Duty Free (Qatar)
  • 3Sixty Duty Free (U.S.)
  • Dufry (Switzerland)
  • Lagardere Group (France)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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Customization Available:

Data Bridge Market Research is a leader in 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 customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed 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.

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FREQUENTLY ASK QUESTIONS

The travel retail market size will be worth USD 176.27 billion by 2030 during the forecast period.
The growth rate of the travel retail market is 14.09% in the forecast period by 2030.
The Unique shopping experience & rising number of international travelers are the growth drivers of the travel retail market.
The Product, sector, distribution channel and end users are the factors on which the travel retail market research is based.
Major companies in the travel retail market are KING POWER International. (Hong Kong), Aer Rianta International (Ireland), DFS Group Ltd. (Hong Kong), Dubai Duty Free. (U.A.E.), China Duty Free Group Co.,Ltd. (China), Gebr. Heinemann SE & Co. KG (Germany), Duty Free Americas, Inc. (U.S.), HOTEL SHILLA CO., LTD. (South Korea), Flemingo. (India), J.R. GROUP (India), Qatar Duty Free (Qatar), 3Sixty Duty Free (U.S.), Dufry (Switzerland), Lagardere Group (France).
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