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Travel Retail Market

The global travel retail market size was valued at $52.7 billion in 2021, and is projected to reach $187.1 billion by 2031, growing at a CAGR of 9.6% from 2022 to 2031.

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Travel Retail Market

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  2. The travel retail industry refers to the sale of goods and services to travelers at locations such as airports, train stations, cruise terminals, and border shops. It is a unique segment of the retail industry that capitalizes on the spending power and leisure time of travelers. Travel retail encompasses a wide range of products including luxury items, fashion and accessories, cosmetics and skincare, electronics, confectionery, and alcohol. The travel retail industry is projected to be fueled by growth in travel around the globe. As the number of passengers passing through airports and other transportation hubs continues to increase, so does the demand for goods & services at these locations. Moreover, growth in global travel has led to more diverse customer base for travel retail. With people from different cultures & countries passing through the same routes, there is increase in demand for products that cater to a range of tastes & preferences. In addition, ss disposable income continues to rise globally, more people are able to afford premium & luxury products such as apparels, luxury goods, premium fragrances, cosmetics. Travel retail has responded to this trend by stocking high-end products such as designer clothing, cosmetics, and electronics. Travel Retail Market Download Report Sample

  3. Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/1606 Frontrunners in the industry- Dufry AG, LVMH Group, Lagardere, Lotte Corporation, China Duty Free Group Co., Ltd, Gebr. Heinemann SE & Co. KG, Duty Free Americas, Inc., Aer Rianta International, King Power International, The Shilla Duty Free Travel Retail Market Download Report Sample

  4. Travel Retail Market • The Travel Retail Market is segmented on the basis of type, Distribution Channel and region. • By type • By product type, the market is divided into perfumes & cosmetics; wine & spirits; tobacco, electronics; luxury goods; food, confectionery, & catering; and others. Sustainability among the perfume & cosmetic products is attracting a large customer base at present as the customer wants various information regarding the products being purchased, such as if they are environment-friendly. Customers are now emphasizing over products made from natural ingredients. In addition, this segment holds a strong customer base, therefore, leading companies, including L’Oréal and Estee Lauder are opening new outlets at several international airports with a wide range of perfumes & cosmetics, skin care products, and beauty products. • By Distribution Channel • By distribution channel, the market is classified into airports; cruise liners; railway stations; and border, downtown, & hotel shops. The airports segment accounted for a major travel retail market share in the travel retail market in 2021 and is expected to grow at a significant CAGR during the forecast period. General retail shop concept is followed by the airports as it carries a diversity of items and further includes full range of product categories, such as perfumes & cosmetics, tobacco goods, wines & spirits, electronics, and food & confectionery. These retail shops at airports are located in central areas with high passenger flow, which attracts the customers to visit the stores. New outlets have been opened by L’Oreal and Estee Lauder at airports globally considering the high footfalls of the passenger. Hence, these factors increase the sales at airport retail shops, which drives the growth of the segment. Download Report Sample

  5. By Region • By region, Asia-Pacific is expected to dominate the global market during the analysis period, due to presence of a large number of retail companies in China, India, and Thailand. In addition, the market in Asia-Pacific is expected to grow at the fastest rate due to increase in the number of high-net-worth individuals and growth of the tourism industry. • Purchase this Report (Price 4,871 USD for single user license): https://www.alliedmarketresearch.com/checkout-final/d6f44910bcc118ce9a67acfe00c60594 • Key findings of the study • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the travel retail market analysis from 2021 to 2031 to identify the prevailing travel retail market opportunities. • The market research is offered along with information related to key drivers, restraints, and opportunities. • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network. • In-depth analysis of the travel retail market segmentation assists to determine the prevailing market opportunities. Travel Retail Market Download Report Sample

  6. Key strategic moves and developments:- • In June 2021, LVMH formed a partnership with Canopy, a non-profit environmental organization to help in forest conservation. • In February 2021, Durfy along with Hainan Development Holdings open first shop opens first at Haikou's Mova Mall In Hainan, China. • In December 2020, Durfy completed its merger successfully with Hudson Ltd in order to expand its portfolio. • Do You Have Any Query Or Specific Requirement? Ask to Our Industry Expert : • https://www.alliedmarketresearch.com/connect-to-analyst/1606 Travel Retail Market Download Report Sample

  7. About Allied Market Research: Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting services to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry. Travel Retail Market Download Report Sample

  8. Contact Us: David Correa 5933 NE Win Sivers Drive #205, Portland, OR 97220 United States USA/Canada (Toll Free): 1-800-792-5285, 1-503-894-6022, 1-503-446-1141 UK: +44-845-528-1300 Hong Kong: +852-301-84916 India (Pune): +91-20-66346060 Fax: +1(855)550-5975 help@alliedmarketresearch.com Web: https://www.alliedmarketresearch.com Follow Us on LinkedIn: https://www.linkedin.com/company/allied-market-research Travel Retail Market Download Report Sample

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