Airport Duty-Free Liquor Market to Reach $10.4 Billion by 2027, Reports Allied Market Research
According to a new report published by Allied Market Research, titled, "Airport Duty-free Liquor Market by Type: Opportunity Analysis and Industry Forecast, 2021-2027," the airport duty-free liquor market size was valued at $8.9 billion in 2019, and is projected to reach $10.4 billion in 2027, registering a CAGR of 22.22% from 2021 to 2027. The airport duty-free liquor at airport shops have become a favorite destination for travelers who like to shop before starting their journey. This is due to the elimination of local import tax or the duties implemented by the government bodies.๐๐๐ฏ๐๐ข๐ฅ๐๐๐ฅ๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ฉ๐จ๐ซ๐ญ ๐ฐ๐ข๐ญ๐ก ๐๐ซ๐๐ฉ๐ก๐ฌ ๐๐ง๐ ๐ ๐ข๐ ๐ฎ๐ซ๐๐ฌ @ https://www.alliedmarketresearch.com/request-sample/10457
๐๐ฑ๐๐ข๐ญ๐ข๐ง๐ ๐๐๐๐๐ซ ๐๐ฅ๐๐ซ๐ญ! ๐ ๐๐๐ญ ๐ ๐๐๐ฌ๐ฌ๐ข๐ฏ๐ ๐๐ข๐ฌ๐๐จ๐ฎ๐ง๐ญ ๐จ๐ง ๐๐จ๐ฎ๐ซ ๐๐๐ฑ๐ญ ๐๐ฎ๐ซ๐๐ก๐๐ฌ๐! ๐๐ฎ๐ฒ ๐ง๐จ๐ฐ ๐๐ง๐ ๐ญ๐๐ค๐ ๐๐๐ฏ๐๐ง๐ญ๐๐ ๐ ๐จ๐ ๐ญ๐ก๐ข๐ฌ ๐ฅ๐ข๐ฆ๐ข๐ญ๐๐-๐ญ๐ข๐ฆ๐ ๐จ๐๐๐๐ซ. ๐๏ธ
Airport duty-free liquor stores are a popular stop for international travelers looking to purchase high-quality spirits at reduced prices. These stores, located within international terminals, offer a wide range of alcoholic beverages, from premium whiskeys and vodkas to local specialties and limited editions. The appeal of duty-free shopping lies in the exemption from local taxes and duties, which can significantly lower the cost of these products. This makes it an attractive option for travelers wanting to bring home a taste of their journey or find a unique gift.
One of the primary attractions of airport duty-free liquor stores is the variety and exclusivity of products available. Many brands produce travel-exclusive editions or special packaging that can only be found in duty-free outlets. This exclusivity enhances the shopping experience, offering travelers something unique that they cannot purchase in regular retail stores. Moreover, duty-free stores often carry a curated selection of premium and luxury spirits, catering to discerning customers looking for top-tier brands and rare finds.
The convenience of shopping for liquor at the airport also adds to its popularity. With stores strategically located in departure and arrival areas, travelers can easily browse and purchase their favorite spirits without having to leave the terminal. This is particularly advantageous for last-minute shopping or for travelers with limited time. Additionally, the packaging and handling of purchases are designed to comply with airline regulations, ensuring that travelers can carry their purchases onboard without hassle.
The market for duty-free liquor continues to thrive, driven by the steady growth in international travel and the increasing demand for premium alcoholic beverages. Retailers constantly innovate to enhance the shopping experience, offering personalized services, tastings, and promotions to attract customers. As global travel resumes post-pandemic, the duty-free liquor market is poised for further expansion, with travelers eager to explore new destinations and indulge in high-quality spirits. The duty-free sector remains a vital component of the travel retail industry, providing a unique and valued service to globetrotters worldwide.
๐ก๐๐๐ญ๐จ๐ซ๐ฌ ๐๐ซ๐ข๐ฏ๐ข๐ง๐ ๐๐ซ๐จ๐ฐ๐ญ๐ก:
Tourism Boom: Rise in tourism promotion and an increase in frequent fliers contribute to the growth of duty-free liquor sales at airports.
Economic Conditions: Improving economic conditions in Asia-Pacific and Oceania, coupled with a growth in disposable income, present substantial growth prospects.
Consumer Preferences: The demand for premium and exotic liquor, especially in the "others" category (beer, vodka, wine, and cognac), is on the rise, driven by changing tastes and preferences.
Market Trends: The whiskey segment holds a significant market share, while cognac gains popularity due to a surge in demand for premium spirits.
๐ก๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐๐ง๐๐ฌ ๐๐ง๐ ๐๐ฒ๐ง๐๐ฆ๐ข๐๐ฌ:
Others Segment Dominates: In 2019, the "others" segment led by beer, vodka, wine, and cognac accounted for the highest market share.
Wine Segment Growth: Strong demand for wine, particularly from millennials, creates revenue opportunities, driven by preferences for premium and exotic flavors.
Whiskey Segment Significance: Whiskey holds the second-highest market share, reflecting a global increase in demand.
๐ก๐๐๐ ๐ข๐จ๐ง๐๐ฅ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ:
Europe Leads: Europe dominated the market in 2019, with contributions from tourists from the Middle East, China, the U.S., and Russia. German travelers' growing interest in duty-free liquor significantly contributes to market growth.
Asia-Pacific Prospects: The Asia-Pacific market is poised for substantial growth, fueled by rising living standards and increasing disposable income among consumers.
๐๐๐๐ ๐๐๐ @ https://www.alliedmarketresearch.com/checkout-final/c4260acc29fdf80559ddc072222515e7
๐ก๐๐๐ฒ ๐ ๐ข๐ง๐๐ข๐ง๐ ๐ฌ:
Regional Leadership: Europe led the market in 2019.
Whiskey Dominance: The whiskey category held the maximum market share in 2019.
๐ก๐๐๐ฒ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ:
Key players in the global airport duty-free liquor industry, including Brown-Forman, Diageo, Erdington, Bacardi, Heineken, Glen Moray, Accolade Wines, Constellation Brands, Inc., REMY COINTREAU, Pernod, and Ricard, employ strategic measures to overcome competition and enhance their global market share.
๐ก๐๐ฎ๐ญ๐ฅ๐จ๐จ๐ค:
Despite the temporary setback caused by the pandemic, the airport duty-free liquor market is poised for significant growth, driven by the resurgence of travel and tourism, changing consumer preferences, and expanding opportunities in the Asia-Pacific region.
The airport duty-free shops have become a favorite destination for travelers who like to shop before starting their journey. This is due to the elimination of local import tax or the duties implemented by the government bodies. This results in lesser pricing of liquor or any other products such as cosmetics, perfumes, souvenir, and others, which are available at duty-free shops.
๐๐๐๐ญ ๐๐จ๐ฎ๐ซ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ @ https://www.alliedmarketresearch.com/request-for-customization/10457
๐๐๐จ๐ง๐ญ๐๐๐ญ
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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