Travel Retail Market Share, Trends and Leading Players By 2029: Dufry AG, Shilla Duty Free DFS Group, Heinemann

Travel Retail Market:

Travel retail refers to sales made in travel environments where customers require proof of travel to access the commercial area and are subject to taxes and duties. Duty-free and travel retail generates vital revenues for national aviation, travel, and tourism industries across the globe. The first duty-free and travel retail was launched in Shannon airport, Ireland, in 1947. Travel retail has been witnessing significant growth in the last few years due to the number of international travelers. As per the Duty-Free World Council, duty-free and travel retail generated sales of USD 68.6 billion in 2017.  
By the study of the various region including Americas, Europe, Asia Pacific, Middle East, and Africa. We have found that the Asia Pacific region is dominating the market. However, a western region such as Europe and North America is growing at a moderate pace. For instance, In Europe, travel retail has become a key component of aviation and maritime financing as well as an integral part of the traveling experience. In 2016, the revenue generated from travel retail was around USD 16 billion in Europe, of which over USD 10 billion (67%) was generated at airports, and USD 2 billion at maritime (11%).

The aviation industry is severely hit by the coronavirus due to the lockdown imposed across the globe, which has decelerated the sales of the aviation Industry. As of now, only 10 million seats are in service to facilitate essential travel, compared with 44.2 million in April 2019.   The airport and the aviation industry have witnessed a collapse of around 77% in the first week of April 2020. Currently, only essential services are provided by the aviation industry, further hampering the market growth.

The airport segment accounts for more than one-third of the market shares. This is because nowadays most of the people use to travel by airways rather than ships and roadways. The aviation industry is booming which in turn increases the sales of the travel retail market. In the Americas among major channels such as Aviation, maritime, and land, the major revenue generated was through the aviation channel. In North America, the revenue generated in the travel retail market through aviation was USD 1.9 billion, and through land USD 1.6 billion in 2017. Similarly, Latin America & the Caribbean have generated revenue of around USD 4.8 billion through aviation channel, most of this revenue was generated within airport terminals.

Asia-Pacific’s travel retail market is projected to grow with a CAGR of 8.7% during the forecast period. In 2017, the region's travel retail sales accounted for around USD 36.2 billion. Airports and airlines accounted for nearly USD 21.2 billion in travel retail sales, of which around three-fourth occurred in the sub-region of East Asia. Land and maritime duty free and travel retail sales amounted to approximately USD 15 billion. 79% of all duty-free and travel retail sales in the region occurred in East Asian countries such as South Korea, China, and Japan.  In addition, duty free and travel retail spending in the Asia Pacific region accounted for an estimated 140,900 direct jobs and USD 7.6 billion in direct GDP.

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The Major Prominent Players Covered in this Report:
Dufry AG
Shilla Duty Free DFS Group
Heinemann
Lagardère Travel Retail
Lotte Duty Free
Retrail GmbH

By Product, Fashion and accessories, Perfume and cosmetics, Electronics, Food, Confectionery products, Bakery products, Catering, Luxury goods, Watches, Jewellery, Wine & spirits
By Channel, Airports, Cruise line, Border, down town, and hotel shops, Railway stations

NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post the COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.

Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth rate of Steerable Medical Devices in these regions, from 2019 to 2029, covering:
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

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Key Travel Retail Market Trends:
- The report identifies, determines, and forecasts the Global Travel Retail Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the Travel Retail Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is Expected to Drive the Growth
- Rising Adoption of Market Segments in this Growth
- North American, Europe is Expected to Witness Higher Growth Rate over the Forecast Period
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Travel Retail Market.

Key Questions Answered in The Report:
What will the Travel Retail market growth rate?
What are the key factors driving the global Travel Retail market?
Who are the key manufacturers in the Travel Retail market space?
What are the market opportunities, market risk, and market overview of the Travel Retail market?
What are sales, revenue, and price analysis of top manufacturers of the Travel Retail market?
Who are the distributors, traders, and dealers of the Travel Retail market?
What are the market opportunities and threats faced by the vendors in the global Steerable Medical Devices Industry?
What are sales, revenue, and price analysis by types and applications of the Travel Retail Industry?
What are sales, revenue, and price analysis by regions of Travel Retail industry?
What are the driving factors contributing to market growth during the short, medium, and long term?

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