Report Ocean (150+ country’s markets analyzed, function on 1,00000+ published and forthcoming reports every year.] presents a research report and top winning strategies for the Travel Retail. Best subject matter experts, researchers, and market research professionals organized this report in order to ensure that the information in it is compiled from the most authentic sources and that the forecast is of the highest accuracy. To forecast market growth, specialists employ a variety of methodologies and analytical approaches, including S.W.O.T. (analysis methods), P.E.S.T.E.L. analysis, and regression analysis. The Travel Retail study also looks at the various regulations and policies that the firm has implemented. This report discusses the industry in terms of research technology and precise prospective utilization, innovation, and future advancements in the Travel Retail.
The global travel retail market was valued at $47.7 billion in 2020 and is witness to reach at $126.2 billion in 2027. The global travel retail market is forecast to grow at a compound annual growth rate of 14.9% during the forecast period from 2021-2027.
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The concept of travel retail also referred to as duty-free, refers to the process of selling goods relating to diversified product categories. During this channel, sales are made by goods without taxes and excise applied to them, and by traveling customers. Travel retail provides products to international travelers through a retailing channel. There are a number of marketing prospects, and it is a source of income.
Factors Affecting the Global Travel Retail Market
- Travel and tourism have increased consumer demand for apparel, cosmetics, food, and electronic retail items in the travel retail market. The rise in urbanization and change in lifestyle – both factors contributing to the growth in the travel retail market – are expected to drive demand for travel retail during the forecast period.
- In the forecast period, the growth of the travel retail market is expected to be driven by urbanization and changes in lifestyle.
- A rising standard of living among middle-income families and improving economic conditions are largely responsible for the growth of the market.
- Travel retail market opportunities will be hampered by a lack of local market organization and strict government regulations.
- Market growth is attributed to an increase in millennials in the population.
Covid-19 Impact on the Global Travel Retail Market
- This pandemic negatively affected the market due to lockdowns and the shutdowns of schools, colleges, and workplaces.
- Due to the Covid-19 pandemic, brick and mortar travel retail stores saw a reduction in sales resulting in consumers shifting to online sales channels for travel retail.
- Despite these changes in consumer behavior, innovation, ergonomics, and premium quality products will become more important.
Regional Analysis of the Global Travel Retail Market
In Asia-Pacific, the travel retail industry is heavily influenced by tourism since many foreign investors visit countries such as Hong Kong and Malaysia for their tax-free shopping. The Asian market presents opportunities for a variety of market players desirous of expanding their presence in the region.
Additionally, China is one of the top importers of apparel and cosmetics. Thus, the Asia-Pacific market is growing at a significant rate.
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Key Players in the Global Travel Retail Market
Various leading competitors profiled in the global travel retail market include:
- The Shilla Duty Free
- Gebr
- Dufry
- LS travel retail
- Aer Rianta International (ARI)
- Lotte Duty Free
- DFS Group
- King Power International Group
- Heinemann
- China Duty Free Group (CDFG)
- The Naunace Group
- Other Prominent Players
Aim of the Report: The Global Travel Retail Market
The global travel retail market is segmented by Channel, Product Type, and Region.
Segmentation based on Channel
- Airport
- Cruise Liner
- Railway Station
- Border, Downtown & Hotel Shop
Segmentation based on Product Type
- Perfume & Cosmetics
- Wine & Spirit
- Electronics
- Luxury Goods
- Food, Confectionery, & Catering
- Tobacco
- Others
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Segmentation based on Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
Table of Content
Chapter 1: Global Travel Retail Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Travel Retail market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Travel Retail Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Travel Retail market Size Forecast (2023-2030).
Continue….
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Travel Retail market revenues on a global, regional, and country level, projecting trends until 2031. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Travel Retail market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Travel Retail market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Travel Retail business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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