Travel Retail Market to 2025 (9.4% CAGR Expected) Top Player Profiles – DFS Group, Dufry, LS travel retail, Lotte Duty Free, King Power International Group, The Shilla Duty Free, Gebr, Heinemann and More

According to a new report published by Big Market Research, titled,"Travel Retail Market by Product and Channel: Global Opportunity Analysis and Industry Forecast, 2018 - 2025",the global travel retail market size was valued at $74.9 billion in 2017, and is projected to reach $153.7 billion by 2025, growing at a CAGR of 9.6% from 2018 to 2025. Perfumes & cosmetics segment has a strong customer base in the global travel retail market. Some of the leading companies, such as Estee Lauder, LOral, Rituals Cosmetics, Revlon, and others, are expanding their businesses by opening their outlets at every international airport with an exclusive and a wide range of fragrances and skin care products. This is because billions of people travel internationally every year and spend money and time at airports. The travelers get a lot of free time at the airport to browse and buy products. In addition, travel retail creates more visibility for their products, which draws the attention of new customers in different countries and increases brand loyalty of existing customers.

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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.

Wines & spirits 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 market. Passengers travelling over distances mostly prefer wines & spirits. Also, the growth in culture of owning luxurious goods and consumption of expensive wines & spirits are driving the growth of the market.

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% in the forecasted 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 European travel retail market. Being the historical home of most of the luxury houses, Europes market accounts for nearly $23 billion of the travel retail sector.

The report offer a comprehensive analysis of the key players such as DFS Group, Dufry, LS travel retail, Lotte Duty Free, King Power International Group, The Shilla Duty Free, Gebr, Heinemann, China Duty Free Group (CDFG), Aer Rianta International (ARI), and The Naunace Group.

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Key Benefits for Travel Retail Market :
• This report provides an in-depth analysis of the global travel retail market to identify the potential investment pockets.
• It outlines the current trends and future scenarios to determine the overall market potential and gain a stronger market foothold.
• It discusses the key drivers, restraints, and opportunities and their detailed impact analysis.
• Quantitative analysis of the market from 2017 to 2025 is highlighted to recognize the financial competency of the market.
• Porter’s Five Forces model illustrates the threat of new entrants, threat of substitutes, and strength of the buyers & suppliers.

Travel Retail Key Market Segments :
By Product Type
• Perfume & Cosmetics
• Wine & Spirit
• Electronics
• Luxury Goods
• Food, Confectionery, & Catering
• Tobacco
• Others

By Channel
• Airport
• Cruise Liner
• Railway Station
• Border, Downtown & Hotel Shop

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This release was published on openPR.