Global Travel Retail Market Overview 2023-2028

IMARC Group, a leading market research company, has recently releases report titled “Travel retail Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global Travel retail market growth, share, size, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

The global travel retail market size reached US$ 56.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 88.6 Billion by 2028, exhibiting a growth rate (CAGR) of 7.5% during 2023-2028.

Travel retail, often referred to as duty-free shopping, represents a unique sector within the retail industry centered around international transportation hubs like airports, cruise terminals, and border crossings. Its focus is on meeting the varied requirements of travelers by providing a wide array of merchandise, including cosmetics, alcohol, tobacco, clothing, electronics, and high-end products. The objective is to facilitate a convenient shopping experience for individuals embarking on or arriving at these transit locations. By striving to improve the travel journey through thoughtfully chosen merchandise and excellent customer service, travel retail is witnessing a global surge in demand.

Global Travel Retail Market Trends and Drivers:

Currently, the market is experiencing a notable upswing primarily due to the surging interest in international travel. Furthermore, the positive market trajectory is being influenced by the widespread integration of digital technologies within travel retail outlets, enabling convenient pre-ordering and easy perusal of product catalogs. This trend is augmented by a growing preference for high-end and luxury items driven by the escalating income levels among consumers. Moreover, the market is being propelled by the expanding usage of travel retail venues, credited to their innovative store layouts, interactive exhibits, and personalized customer service, presenting attractive opportunities for industry investors. Additionally, the market is benefitting from increased expenditures on duty-free products.

Global Travel Retail Market 2023-2028 Analysis and Segmentation:

Top Key Players covered in this report are: Aer Rianta International, China Duty Free Group Co. Ltd., Dufry AG, Duty Free Americas Inc, Gebr. Heinemann SE Co. KG, KING POWER International, Lagardère S.A, Lotte Hotels Resorts (Lotte Corporation), LVMH Moët Hennessy Louis Vuitton and The Shilla Duty Free (Hotel Shilla Co. Ltd.).

The report segmented the market on the basis of region, product type, sector and distribution channel.

Breakup by Product Type:

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

Breakup by Sector:

• Duty-Free
• Duty Paid

Breakup by Distribution Channel:

• Airports
• Cruise Liner
• Railway Station
• Border, Downtown and Hotel Shop

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa

Key highlights of the report:

• Market Performance (2017-2022)
• Market Outlook (2023- 2028)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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