The global Travel Retail market is expected to develop US$ 108.82 Bn. by 2029, at a compound annual increase in price (CAGR) of 9.2% throughout the forecast period.
Growing travel & tourism sector across the globe has driven the demand for apparels, cosmetics, electronic retail, and food items, which contributing the global travel retail market growth. Moreover, increase in disposable income amongst the improvement in economy and middle-income groups are major factors drive the growth of the travel retail market. Similarly, other factors such as innovations in technologies further increase the market growth as it rises convenience of accessing transportation or booking hotels by online portals. This report covers in-depth study of the global travel retail market analysis, industry trends, key segments, major players, drivers, and opportunities.
Geographically, Asia-Pacific is one of the widest travel retail market across the globe, and it is rising rapidly due to improvements in standard of living, increasing disposable income, growing lifestyle, and improvements in tourism industry. Likewise, the Europe is also one of the largest travel retail markets, due to its high quality luxury products. It is expected to have the wildest travel retail market growth through a CAGR of x.x% over the forecasted period. The region holds some of the major attires and cosmetics brands, such as, H&M (Sweden) and LVMH (France), which grasp a substantial share in the perfumes, cosmetics, and apparels sector, thus it is second leading travel retail market share. Rich tourists from the China, Middle East, China, Russia, and U.S. contribute ominously to the European travel retail market share.
The global travel retail market is basically segmented on the basis of channel, product type, and region. Based on product segment, the market divided into wine and spirits, perfumes & cosmetics, tobacco, luxury goods, electronics, catering, food and confectionery, and others. Among these, the luxury goods segment holds high growth rate in the developing markets, and is expected to witness stable growth in the developed countries, due to modern lifestyle, urbanization, growth in disposable income, and increasing investments on luxury goods are some key factors that drive the global travel retail market growth. By distribution channel, this market is categorized into cruise liners, airports, border, railway stations, hotel and shops. On the basis of region, the market segmented into North America, Asia-Pacific, Europe, and LAMEA.
Global travel retail market key players:
- DFS Group
- LS travel retail
- Lotte Duty Free
- The Shilla Duty Free
- King Power International Group
- China Duty Free Group
- Naunace Group
- Aer Rianta International
Travel Retail Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2029||US$ 108.82 Bn.|
|Growth Rate||CAGR of 9.2% during 2021-2029|
|Segment Covered||Sector, End Users, Youth, Middle-Aged, The Elder, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||KING POWER International. (Hong Kong), Aer Rianta International (Ireland), DFS Group Ltd. (Hong Kong), Dubai Duty Free. (UAE), 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. (Indiia), J.R. GROUP (India), Qatar Duty Free (Qatar), 3Sixty Duty Free (U.S.), Dufry (Switzerland), Lagardere Group (France)|
Global travel retail market segmented into:
By Product Type
- Wine and Spirit
- Perfume and Cosmetics
- Food, catering, and confectionary
- Luxury goods
- Cruise Liner
- Downtown and hotel shop
- North America
- Rest of Europe
- Rest of ASPAC
- Middle East
- Latin America