Nevertheless, Covid-19 will certainly accelerate transformation of travel retailers especially in contactless payments, loyalty programs, and digitization.
Travel Retail Market Overview 2021–2028
According to a new report published by Allied Market Research, titled, “Global Travel Retail Market by Product Type, and Channel: Global Opportunity Analysis and Industry Forecast, 2021–2028.” The global travel retail market size is expected to reach $145.0 billion by 2028, registering a CAGR of 14.9% during the forecast period.
The major players profiled in this report include :-
Aer rianta international
China duty free group co., ltd.
Duty free americas, inc
Gebr. Heinemann se & co.kg
King power international
Lagardère sca (lagardère travel retail)
Lvmh group (dfs group limited)
The shilla duty free
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Incredible Possibilities, Growth with Industry Study, Detailed Analysis and Forecast to 2028
Development of the travel & tourism industry, rapid urbanization, and changes in lifestyle, owing to increased disposable income of consumers drive the growth of the travel retail market. In addition, increase in travel & tourism or international tourist arrivals in the emerging economies, such as Asia-Pacific and LAMEA is anticipated to create lucrative opportunities for the global travel retail market. However, unorganized local markets and stringent regulations in airport retailing hamper the growth of the travel retail market.
The wines & spirits segment is the second largest revenue contributor in the global travel retail market. The consumption of wines, particularly luxury wines and spirits has witnessed considerable growth in the past few years. Wines & spirits, of the total, have 15.9% of the travel retail market share. In addition, it has been observed that luxury wines & spirits are highly preferred by the international passengers, which leads to the growth of the travel retail market demand. Passengers travelling over distances mostly prefer wines & spirits. Also, the growth in culture of owning luxurious goods and consumption of expensive wines & spirits drives the growth of the travel retail market trends.
• Detailed overview of parent market
• Changing market dynamics in the industry
• In-depth market segmentation
• Historical, current and projected market size in terms of volume and value
• Recent industry trends and developments
• Competitive landscape
• Strategies of key players and products offered
• Potential and niche segments, geographical regions exhibiting promising growth
• A neutral perspective on market performance
• Must-have information for market players to sustain and enhance their market footprint
Scope of the Report :-
Asia-Pacific is the largest travel retail market in the world, and is growing at the fastest rate owing to improvements in living standards, rise in disposable income, improvement in lifestyle, and development of the tourism industry.
Furthermore, Europe is one of the largest travel retail markets, owing to its stronger base of luxury products. It is anticipated to have the fastest travel retail market growth with a CAGR of 7.2% during the forecast period. The region possesses some of the biggest apparels and cosmetics brands, namely, LVMH from France and H&M from Sweden, which hold a significant share in the luxury apparels, perfumes, and cosmetics sector, thereby making it the second largest travel retail market. Wealthy tourists from the Middle East, China, the U.S., and Russia contribute significantly toward the growth of the Europe travel retail market. Being the historical home of most of the luxury houses, Europe market accounts for nearly $23 billion of the travel retail sector.
The Report covers exhaustive analysis on:
• Travel Retail Market Segments
• Travel Retail Market Dynamics
• Historical data of Travel Retail Market
• Travel Retail Market Size & Forecast 2016 to 2026
• Supply & Demand Value Chain
• Travel Retail Market Current Trends/Issues/Challenges
• Competition & Companies involved in Global Travel Retail Market
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FREQUENTLY ASKED QUESTIONS?
Q1. What travel retail market size from 2021 to 2028?
Q2. What is the CAGR of travel retail market?
Q3. How can I get sample report of travel retail market?
Q4. Which are the top companies in the travel retail market?
Q5. What are the segments of travel retail market?
TABLE OF CONTENT :-
CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key market benefits for stakeholders
1.3. Key market segments
1.4. Research methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.2. Cxo perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top impacting factors
3.2.2. Top investment pockets
3.2.3. Top winning strategies
3.3. Porter’s five force analysis
3.3.1. Bargaining power of suppliers
3.3.2. Bargaining power of buyers
3.3.3. Threat of substitution
3.3.4. Threat of new entrant
3.3.5. Competitive rivalry
3.4. Market share analysis,2017
3.5. Market dynamics
188.8.131.52. Development of the travel & tourism industry
184.108.40.206. Rapid growth in urbanization
220.127.116.11. Rise in disposable income
18.104.22.168. Unorganized local markets
22.214.171.124. Stringent government rules, particularly for airport retailing
126.96.36.199. Growth in Asia-Pacific and LAMEA Economies
• Value Chain
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