Travel Retail Market size was valued at USD 58.77 Bn. in 2022 and the total Global Travel Retail revenue is expected to grow by 9.2% from 2023 to 2029, reaching nearly USD 108.82 Bn.
Travel Retail Market Overview:
The “Travel Retail Market ” is a comprehensive look at the Travel Retail Market, with a focus on global market trends and analysis. The goal of this study is to provide an overview of the Travel Retail Market industry as well as a detailed market segmentation by segment and geography. The Travel Retail Market is expected to grow significantly throughout the forecast period. The analysis contains critical information on the market positions of the top Travel Retail Market firms, as well as crucial industry trends and opportunities.
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Market Scope:
To validate the market size and estimate market size by segment, top-down and bottom-up methodologies are utilized. The research’s market estimates are based on the sale price (excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders). To create percentage splits, market shares, and segment breakdowns, weights based on usage rate and average sale price are applied to each location. The percentage acceptance or usage of the given market Size in the relevant area or nation determines the country-wise segmentation of the main market and its sub-segments.
Segmentation:
By Sales Channel Segment, the airport industry dominated the market in 2022, with the lion's share. As a result of decreased prices and improved living conditions, it is projected that an increasing number of air travellers would contribute to segment growth. Additionally, efforts by numerous airports to boost non-aeronautical resource profitability have fueled the expansion of this segment's retail market. The category of border, downtown, and hotel retailers is anticipated to experience the fastest growth over the forecasting period. These kinds of shops showcase the newest fashion trends. Contrary to the airport area, rentals are lower for retailers in border and downtown areas.
For each Product Segment, Due to rising sales of various personal care products through various retail locations, the perfume and cosmetics industry had the greatest revenue share in 2020. In airports all throughout the world, L'Oreal and other cosmetics brands are constructing new boutiques. This component is anticipated to accelerate segment expansion even more. The second-largest industry in 2020 was wine and spirits, and growth is anticipated to be steady going forward. Since they are more affordable there, alcoholic beverages are among the items that people most frequently purchase from duty-free shops.
Key Players:
Primary and secondary research are used to discover industry titans, and primary and secondary research are utilised to estimate market revenue. As part of the core study, in-depth interviews with thought leaders and industry professionals, including experienced front-line personnel, CEOs, and marketing specialists, were undertaken. A secondary investigation was conducted, which included an examination of annual and financial reports from well-known enterprises. Secondary data is utilised to generate percentage splits, market shares, growth rates, and global market breakdowns that are then compared to the original data. The companies mentioned below work in the Travel Retail Market industry
1. Dufry Group
2.Lotte Duty-Free
3. The Shilla Duty-Free
4. China Duty-Free Group
5. Lagardére Travel Retail
6. DFS Group
7. Gebr Heinemann
8. Shinsegae Duty-Free
9. King Power International Group (Thailand)
10. Ever Rich Duty-Free Shop
11. Dubai Duty-Free
12. Duty-Free Americas
13. Aer Rianta International
14. WHSmith
15. Japan Airport Terminal Co
16. Starboard Cruise Services
17. Flemingo International
18. 3Sixty Duty-Free
19. Hyundai Duty-Free
20. NAA Retailing
21. Qatar Duty-Free
22. Sky Connection
23. Tallink Group
24. King Power Group (Hong Kong)
25. JR/Duty-Free
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Regional Analysis:
The study focuses on geographic analysis, which is further broken down into sub-regions and nations. Profit predictions and market share numbers for each country are included in this section of the research. This component of the study examines each region’s and country’s share and growth rate throughout the forecasted time period.
The report includes a full PESTEL analysis for all five regions, including North America, Europe, Asia Pacific, the Middle East, Africa, and South America, after examining political, economic, social, and technical variables impacting the Travel Retail Market in various sectors.
COVID-19 Impact Analysis on Travel Retail Market:
The COVID-19 virus has affected customer behavior across the board. Businesses, on the other hand, must modify their strategy to account for changing market supply. This report provides an overview of COVID-19’s influence on the Travel Retail Market and will assist you in developing your business in accordance with the new industry standards.
Under the COVID-19 Impact section, the Travel Retail Market Report offers extensive research ranging from the agile supply chain and trade limits to regional government laws and the firm’s future effect. Primary market research , instances of venture competition, the benefits and drawbacks of large business channels, and industry growth trends (2021-2027) are all provided.
Key Questions Answered in the Travel Retail Market Report are:
- What is the size of the Travel Retail Market?
- Which regional market will take the lead in the next years?
- Which application category is likely to grow the most quickly?
- What growth prospects could exist in the Travel Retail Market business in the next years?
- What would be the most significant future obstacles for the Travel Retail Market?
- Who are the market leaders in the category Travel Retail Market?
- What are the key trends impacting market growth?
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