Duty-free and Travel Retail Market Is Expected to Reach USD 75.8 Billion by 2032, Grow at a CAGR Of 7.1%

𝐆𝐥𝐨𝐛𝐚𝐥 𝐃𝐮𝐭𝐲-𝐅𝐫𝐞𝐞 𝐚𝐧𝐝 𝐓𝐫𝐚𝐯𝐞𝐥 𝐑𝐞𝐭𝐚𝐢𝐥 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲: 𝐊𝐞𝐲 𝐒𝐭𝐚𝐭𝐢𝐬𝐭𝐢𝐜𝐬 𝐚𝐧𝐝 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐢𝐧 𝟐𝟎𝟐𝟒-𝟐𝟎𝟑𝟐

𝐒𝐮𝐦𝐦𝐚𝐫𝐲:

● The global duty-free and travel retail market size reached USD 40.4 Billion in 2023.
● The market is expected to reach USD 75.8 Billion by 2032, exhibiting a growth rate (CAGR) of 7.1% during 2024-2032.
● Asia Pacific leads the market, accounting for the largest duty-free and travel retail market share.
● Beauty and personal care accounts for the majority of the market share in the product type segment due to the increasing focus on maintaining outer beauty among individuals. 
● Airports hold the largest share in the duty-free and travel retail industry.
● The expansion of airport infrastructure is a primary driver of the duty-free and travel retail market.
● The rising international tourism and strategic partnerships with airlines and airports are reshaping the duty-free and travel retail market.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐚 𝐬𝐚𝐦𝐩𝐥𝐞 𝐜𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭: https://www.imarcgroup.com/duty-free-travel-retail-market/requestsample

𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐓𝐫𝐞𝐧𝐝𝐬 𝐚𝐧𝐝 𝐃𝐫𝐢𝐯𝐞𝐫𝐬:  

● 𝐄𝐱𝐩𝐚𝐧𝐬𝐢𝐨𝐧 𝐨𝐟 𝐚𝐢𝐫𝐩𝐨𝐫𝐭 𝐈𝐧𝐟𝐫𝐚𝐬𝐭𝐫𝐮𝐜𝐭𝐮𝐫𝐞:

The expansion and modernization of airports across the globe is impelling the market growth. As airports develop into larger and more sophisticated hubs, they allocate more space for retail activities, turning terminals into shopping destinations. Many airports now feature vast retail areas with high-end stores offering exclusive products to travelers. Modern airports are designed with retail in mind, providing a seamless shopping experience between flights. Additionally, airports in developing regions are investing in upgrading facilities, aiming to accommodate the growing number of international passengers. This expansion also supports enhanced brand visibility, allowing companies to reach a captive audience of travelers. Airports serve as strategic locations for brands to showcase their products to a global audience.     

● 𝐑𝐢𝐬𝐢𝐧𝐠 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐓𝐨𝐮𝐫𝐢𝐬𝐦:

The growing demand for duty-free and travel retail due to the rising international tourism is offering a favorable market outlook. With an increasing number of global travelers, particularly in emerging regions like Asia-Pacific, the demand for duty-free goods is rising. Airports, cruise terminals, and border shops are becoming retail hotspots, offering tax-free products that appeal to tourists looking for exclusive items. This growth in tourism is supported by factors, such as improved air travel infrastructure and relaxed visa regulations. As more people travel for leisure or business, they seek out luxury goods, alcohol, cosmetics, and other products, which are often more affordable in duty-free zones.    

● 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐏𝐚𝐫𝐭𝐧𝐞𝐫𝐬𝐡𝐢𝐩𝐬 𝐰𝐢𝐭𝐡 𝐀𝐢𝐫𝐥𝐢𝐧𝐞𝐬 𝐚𝐧𝐝 𝐀𝐢𝐫𝐩𝐨𝐫𝐭𝐬: 

Collaborations between duty-free retailers, airlines, and airports are enhancing the shopping experience for travelers. These partnerships enable retailers to access passenger data, allowing for personalized marketing and promotions. Airlines are also offering in-flight duty-free shopping with the option to pick up purchases at the destination airport, which encourages additional spending. Airports are increasingly prioritizing retail spaces in their design and development plans, recognizing the importance of shopping to their revenue streams. These collaborations help optimize the entire travel journey, ensuring that users have multiple touchpoints to engage with duty-free offers. This integrated approach strengthens the market's position by creating a seamless shopping experience across various stages of travel.

𝐀𝐬𝐤 𝐀𝐧𝐚𝐥𝐲𝐬𝐭 𝐟𝐨𝐫 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.imarcgroup.com/request?type=report&id=6317&flag=C

𝐃𝐮𝐭𝐲-𝐅𝐫𝐞𝐞 𝐚𝐧𝐝 𝐓𝐫𝐚𝐯𝐞𝐥 𝐑𝐞𝐭𝐚𝐢𝐥 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧:

𝐁𝐫𝐞𝐚𝐤𝐮𝐩 𝐁𝐲 𝐏𝐫𝐨𝐝𝐮𝐜𝐭 𝐓𝐲𝐩𝐞:

● Beauty and Personal Care
● Wines and Spirits
● Tobacco
● Eatables
● Fashion Accessories and Hard Luxury
● Others

Beauty and personal care account for the majority of shares due to the increasing focus on maintaining outer beauty among individuals.       

𝐁𝐫𝐞𝐚𝐤𝐮𝐩 𝐁𝐲 𝐃𝐢𝐬𝐭𝐫𝐢𝐛𝐮𝐭𝐢𝐨𝐧 𝐂𝐡𝐚𝐧𝐧𝐞𝐥:

● Airports
● Airlines
● Ferries
● Others

Airports dominate the market as they provide enhanced traveling experience to travelers.

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

Asia Pacific enjoys the leading position owing to a large market for duty-free and travel retail driven by the increasing need for premium and luxury goods.      

𝐓𝐨𝐩 𝐃𝐮𝐭𝐲-𝐅𝐫𝐞𝐞 𝐚𝐧𝐝 𝐓𝐫𝐚𝐯𝐞𝐥 𝐑𝐞𝐭𝐚𝐢𝐥 𝐌𝐚𝐫𝐤𝐞𝐭 𝐋𝐞𝐚𝐝𝐞𝐫𝐬:

The duty-free and travel retail market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies. Some of the key players in the market are:

● Aer Rianta International
● China Duty Free Group Co. Ltd.
● Dubai Duty Free
● Dufry
● Duty Free Americas Inc.
● Gebr. Heinemann SE & Co. KG
● James Richardson Group
● King Power International
● Lagardère Travel Retail
● Lotte Duty Free
● Sinsegae Duty Free
● The Shilla Duty Free

𝐍𝐨𝐭𝐞: 𝐈𝐟 𝐲𝐨𝐮 𝐫𝐞𝐪𝐮𝐢𝐫𝐞 𝐚𝐧𝐲 𝐬𝐩𝐞𝐜𝐢𝐟𝐢𝐜 𝐢𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 𝐭𝐡𝐚𝐭 𝐢𝐬 𝐧𝐨𝐭 𝐜𝐨𝐯𝐞𝐫𝐞𝐝 𝐜𝐮𝐫𝐫𝐞𝐧𝐭𝐥𝐲 𝐰𝐢𝐭𝐡𝐢𝐧 𝐭𝐡𝐞 𝐬𝐜𝐨𝐩𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐫𝐞𝐩𝐨𝐫𝐭, 𝐰𝐞 𝐰𝐢𝐥𝐥 𝐩𝐫𝐨𝐯𝐢𝐝𝐞 𝐭𝐡𝐞 𝐬𝐚𝐦𝐞 𝐚𝐬 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐭𝐡𝐞 𝐜𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧.

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬:

IMARC Group

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Email: sales@imarcgroup.com

Tel No:(D) +91 120 433 0800

United States: +1-631-791-1145

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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