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Travel Retail Market by Channel (Airport, Cruise Liner, Railway Station, Border, Downtown & Hotel Shop); by Product Type (Perfume & Cosmetics, Wine & Spirit, Electronics, Luxury Goods, Food Confectionery & Catering, Tobacco, Others); by Region (North America, Europe, Asia Pacific, Middle East & Africa (MEA), South America) : Global opportunity analysis and industry forecast 2021-2027

Travel Retail Market by Channel (Airport, Cruise Liner, Railway Station,...

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Travel Retail Market by Channel (Airport, Cruise Liner, Railway Station, Border, Downtown & Hotel Shop); by Product Type (Perfume & Cosmetics, Wine & Spirit, Electronics, Luxury Goods, Food Confectionery & Catering, Tobacco, Others); by Region (North America, Europe, Asia Pacific, Middle East & Africa (MEA), South America) : Global opportunity analysis and industry forecast 2021-2027
Travel Retail Market by Channel...
Report Code
RO14/128/1382

Publish Date
18/Sep/2021

Pages
206
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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. 

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.

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

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

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