According to the latest report by IMARC Group, “Global Travel Retail Market Size, Share, Growth, Industry Trends, Opportunity and Forecast 2022-2027“, the global travel retail market reached a value of US$ 52.50 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 82.57 Billion by 2027, exhibiting a CAGR of 7.60% during 2022-2027.
Travel retail refers to selling products to international travelers during transit. It is organized in travel environments such as airports, seaports, ferries, and cruises, where the consumer must submit proof of nationality and travel to access the trade area. It serves as an effective medium for travelers to buy specialty products after passing security checks. Some of the most commonly available products through travel retail include personal care products, luxury goods, perfumes and cosmetics, wine and tobacco, electronics, and food and confectionery.
|Base Year: 2021|
|Forecast Year: 2022-2027|
Travel Retail Market Trends and Drivers:
The market is primarily driven by the significant growth in the travel and tourism industry as travel retail and duty-free stores are serving as one of the major revenue sources for airports. Additionally, several technological advancements, such as the development of touch screens and interactive retail booths that provide passengers with engaging and effortless ordering and payment solutions, represent another major growth-inducing factor.
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Besides this, the implementation of favorable government policies to promote international tourism, the inflating income levels of consumers, and the rising inclination toward premium wines and spirits among international travelers are some of the other factors creating a positive market outlook across the globe.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Travel Retail Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Aer Rianta International, China Duty Free Group Co. Ltd., Dufry AG, Duty Free Americas Inc, Gebr. Heinemann SE & Co. KG, KING POWER International, Lagardère S.A, Lotte Hotels & Resorts (Lotte Corporation), LVMH Moët Hennessy Louis Vuitton and The Shilla Duty Free (Hotel Shilla Co. Ltd.).
The report has segmented the market on the basis of region, product type, sector and distribution channel.
Breakup by Product Type:
- Perfume and Cosmetics
- Wine and Spirit
- Luxury Goods
- Food, Confectionery and Catering
Breakup by Sector:
- Duty Paid
Breakup by Distribution Channel:
- Cruise Liner
- Railway Station
- Border, Downtown and Hotel Shop
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
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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