Travel Retail Market cover

Travel Retail Market by Channels (Railway Stations & Others, Cruise Lines, Airports, and Border, Down Town & Hotel Shops), Products (Electronics, Fashion & Accessories, Wine & Spirit, Perfume & Cosmetics, Confectionery & Fine Food, Tobacco, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: CG-2907
  • Author: Growth Market Reports
  • Rating: 4.9
  • Total Reviews: 3
  • No. Of Pages: 194
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The global travel retail market size was valued at USD 82.3 billion in 2020 and is anticipated to register a considerable CAGR during the forecast period, 2021-2028. The growth of the market is attributed to rise in number of international travelers.

Travel Retail Market summary

Travel retail is a worldwide industry that sells products to foreign travelers. For sales at travel retail shops, specific local or national taxes and excise duties must be paid. It is usually mandated for the items to be sold exclusively to tourists who intend to transport them out of the nation. The products that travel retail can sell vary by jurisdiction and are governed by distinct rules that are based on import allowance restrictions, excise duty computations, and other factors. Border stores, onboard aircraft during international flights, some international railway stations, cruise & ferry shops on boats in international waters, and for the provisioning of ships travelling in international waters are all places where one can buy from travel retail.

The COVID-19 has brought negative impact on the market owing to lockdown and travel ban by governments across the globe, which disrupted the sales and demand & supply chain. The market is expected to resume gradually by the end of year 2021.

Market Trends, Drivers, Restraints, and Opportunities

  • Focus on providing enhanced customer experience is projected to drive the market expansion during the forecast period.
  • Development of the travel and tourism industry globally is one of the key factors driving the market growth.
  • Unorganized local markets and their irregular transactions related to demand for products acts as a major challenge that can restrict the market growth in the coming years.
  • Stringent government rules & regulations related to supply and stores is likely to hinder the market growth during the forecast period.
  • Growing number of millennial travelers is expected to create a significant growth opportunity for the market in the near future.

Scope of the Report

The report on the global travel retail market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Travel Retail Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Channels (Railway Stations & Others, Cruise Lines, Airports, and Border, Down Town & Hotel Shops) and Products (Electronics, Fashion & Accessories, Wine & Spirit, Perfume & Cosmetics, Confectionery & Fine Food, Tobacco, and Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

DFS Group; Shilla Duty Free; Dufry Group; Lotte Duty Free; Lagardère Travel Retail; and Heinemann Duty Free

Market Segment Insights

Airport segment is expected to grow at a rapid pace

Based on channels, the global travel retail market is segmented into railway stations & others, cruise lines, airports, and border, down town & hotel shops. The airport segment is expected to grow at a rapid pace during the forecast period attributed to low airfares and enhanced living standards of travelers. However, the border, downtown & hotel shops segment is anticipated to hold a key share of the market in the coming years due to lower rents for those shops in downtown and border areas as compared to the airport area shops.

Perfume & cosmetics segment is projected to expand at a considerable CAGR

On the basis of products, the market is segregated into electronics, fashion & accessories, wine & spirit, perfume & cosmetics, confectionery & fine food, tobacco, and others. The perfume & cosmetics segment is projected to expand at a considerable CAGR during the forecast period attribute to increased sales for various personal care products at different retail channels. On the other hand, the wine & spirit segment is anticipated to account for a major market share during the forecast period due to the reason being most commonly purchased items through the duty-free stores as they are available at inexpensive prices compared to their normal prices.

Travel Retail Market product

Asia Pacific is anticipated to constitute a key market share

In terms of regions, the global travel retail market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to constitute a key share of the market during the projected period owing to rising middle-class travelers and increasing travel & tourism sector in the region. Moreover, change in living standards as a result of increase in consumer disposable income is further expected to drive the market growth in the region.

Travel Retail Market region

Segments

The global travel retail market has been segmented on the basis of

Channels

  • Railway Stations & Others
  • Cruise Lines
  • Airports
  • Border, Down Town & Hotel Shops

Products

  • Electronics
  • Fashion & Accessories
  • Wine & Spirit
  • Perfume & Cosmetics
  • Confectionery & Fine Food
  • Tobacco
  • Others

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • DFS Group
  • Shilla Duty Free
  • Dufry Group
  • Lotte Duty Free
  • Lagardère Travel Retail
  • Heinemann Duty Free

Competitive Landscape

Key players competing in the global travel retail market are DFS Group; Shilla Duty Free; Dufry Group; Lotte Duty Free; Lagardère Travel Retail; and Heinemann Duty Free. Some of these players are actively engaged in various market development strategies, such as capacity expansion, new product launches, acquisition, partnership, collaboration, and mergers to increase their market share.
For instance, in September 2018, Dufry Group made a deal with Perth Airport Pty. Ltd. (PAPL) to open two duty-free stores at departure and arrival areas at the international terminal in the airport. This deal helped the company to expand its footprint in Australia.

Travel Retail Market keyplayers

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Travel Retail Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Travel Retail Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Travel Retail Market - Supply Chain
  4.5. Global Travel Retail Market Forecast
     4.5.1. Travel Retail Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Travel Retail Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Travel Retail Market Absolute $ Opportunity
5. Global Travel Retail Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Travel Retail Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Travel Retail Demand Share Forecast, 2019-2026
6. North America Travel Retail Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Travel Retail Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Travel Retail Demand Share Forecast, 2019-2026
7. Latin America Travel Retail Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Travel Retail Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Travel Retail Demand Share Forecast, 2019-2026
8. Europe Travel Retail Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Travel Retail Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Travel Retail Demand Share Forecast, 2019-2026
9. Asia Pacific Travel Retail Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Travel Retail Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Travel Retail Demand Share Forecast, 2019-2026
10. Middle East & Africa Travel Retail Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Travel Retail Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Travel Retail Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Travel Retail Market: Market Share Analysis
  11.2. Travel Retail Distributors and Customers
  11.3. Travel Retail Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. DFS Group
     11.4.2. Shilla Duty Free
     11.4.3. Dufry Group
     11.4.4. Lotte Duty Free
     11.4.5. Lagardère Travel Retail
     11.4.6. Heinemann Duty Free

The global travel retail market has been segmented on the basis of

Channels

  • Railway Stations & Others
  • Cruise Lines
  • Airports
  • Border, Down Town & Hotel Shops

Products

  • Electronics
  • Fashion & Accessories
  • Wine & Spirit
  • Perfume & Cosmetics
  • Confectionery & Fine Food
  • Tobacco
  • Others

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • DFS Group
  • Shilla Duty Free
  • Dufry Group
  • Lotte Duty Free
  • Lagardère Travel Retail
  • Heinemann Duty Free

Key players competing in the global travel retail market are DFS Group; Shilla Duty Free; Dufry Group; Lotte Duty Free; Lagardère Travel Retail; and Heinemann Duty Free. Some of these players are actively engaged in various market development strategies, such as capacity expansion, new product launches, acquisition, partnership, collaboration, and mergers to increase their market share.
For instance, in September 2018, Dufry Group made a deal with Perth Airport Pty. Ltd. (PAPL) to open two duty-free stores at departure and arrival areas at the international terminal in the airport. This deal helped the company to expand its footprint in Australia.

Travel Retail Market keyplayers

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