Travel Retail Market (Product - Wine & Spirit, Luxury Goods, Perfume & Cosmetics, Electronics, Confectionery & Catering, and Others; Distribution Channels - Waterways, Airways, Railway Stations, Downtown and Hotel Shops, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025

  • Published : November, 2019

  • Rep Id : CGP044

  • Category : Consumer Goods and Packaging

  • Status : Published

A recent report published by Infinium Global Research on travel retail market provides an in-depth analysis of segments and sub-segments in the global as well as regional travel retail market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional travel retail market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global travel retail market. According to the report, the global travel retail market is projected to grow at a CAGR of 10.15% over the forecast period of 2019-2025.

 

Market Insight

Travel retail term refers to the sales made in travel spaces such as airports, airlines, cruises, downtown locations, and border shops mostly in duty free environments. Growth in travel and tourism has increased over a short period of time. Increasing retail shops at travel terminals provide retailers with a shop and communication window catering to a large number of prospective customers. Travel retails stores are mostly dominated by premium and luxury brands selling goods ranging from watches, fragrances, cosmetics, apparel, electronic products, wines and spirits, food items and so on.

 

Growth in a number of international travelers is expected to be one of the major factors driving the travel retail market. Further, the change in the shopping habits of consumers is also supporting the growth of the travel retail market. Nowadays, travelers tend to shop at a travel retail store owing to a wide range of goods and better prices and prefer to buy a gift during their journey. In addition, retail stores extensively utilize technology to attract customers by connecting with them through different channels like mobile apps and social media to digitized displays and provide exclusive offers. Also, the growth of low-cost carriers (LLC) has attributed to the growth of the travel retail market. With the expansion of LLC to secondary travel, terminals have opened new avenues for this market. Development in emerging countries is expected to create a growth opportunity in the travel retail market during the upcoming years. This can be attributed to a substantial rise in people’s incomes, brought about by the growing economy of these countries. On the contrary, strict government rules relating to airport retailing are likely to hamper the growth of the travel retail market.

 

Among the geographies, the Europe region is dominating the growth of travel retail market followed by the Asia Pacific region. In the Europe region, wealthy tourists from the U.S., China, the Middle East, and Russia contribute significantly to the growth of the travel retail market.  Further, the Asia Pacific region is anticipated to be the fastest-growing region. In the Asia Pacific region, many foreign investors visit countries such as Hong Kong and Malaysia for tax-free shopping this factor drives the growth of the travel retail market in this region. Further, growing middle-class income in emerging Asian countries and enhanced living standards are projected to boost the market.

 

Segment Covered

The report on the global travel retail market covers segments such as product and distribution channels. On the basis of product, the sub-markets include wine & spirit, luxury goods, perfume & cosmetics, electronics, confectionery & catering, and others. On the basis of distribution channels, the sub-markets include waterways, airways, railway stations, downtown and hotel shops, and others.

 

Companies Profiled:

The report provides profiles of the companies in the market such as Dufry AG, Aer Rianta International, DFS Group Ltd., Dubai Duty Free, Duty Free Americas, Inc., Flemingo Internationa, KING POWER International Group, Lagardère, Lotte Corporation, Qatar Duty Free, and others.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of travel retail market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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