Press release
Travel Retail Market by Product (Perfume & Cosmetics, Wine & Spirit, Electronics, Luxury Goods, Food, Confectionery & Catering, Tobacco, and Others) and Channel (Airport; Cruise Liner; Railway Station; and Border, Downtown, & Hotel Shop)
Travel Retail Market
The global travel retail market is expected to reach $153.7 billion by 2025, registering a CAGR of 9.6% during the forecast period. Substantial development of the travel & tourism sector, including medical tourism, fosters the demand for travel retail services.
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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.
The travel retail market in Asia-Pacific majorly is driven by the tourism industry, as many foreign investors visit countries such as Hong Kong and Malaysia for tax-free shopping. Various market players are keen to expand their market presence by establishing themselves in the Asian markets. For instance, in 2015, Mitsui Outlet Park KLIA, a premium outlet mall was inaugurated in Kuala Lumpur, near the international airport. Bally, Guess, and Boss by Hugo Boss are some of the luxury brand stores in Mitsui Outlet Park KLIA. In addition, Dior Homme, Jimmy Choo, Tiffany & Co, Roger Vivier, MCM, Roos, and Alexander Wang have established their retail stores in Thailand. Moreover, China is one of the largest importers of cosmetics and apparel. This fuels the growth of the market in the Asia-Pacific region.
There is an increase in the standards of living of the people, owing to higher disposable incomes, improvement in lifestyle, and increase in corporate culture. Rise in proliferation of corporate entities in the developing nations has popularized the “carrying expensive & luxurious products” culture among consumers. This culture of owning a luxurious product has become a status symbol among consumers. Thus, the luxury goods segment in the travel retail industry is expected to grow at the fastest rate by 2025.
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Railway stations have witnessed a considerable growth over the years. For instance, the London's King's Cross station established an airy-bar restaurant with wooden floors and vintage leather sofas, with an aim to provide comfort to travelers. The station also has various branded stores with different product categories such as clothing and accessories for both men and women, sportswear, music stores with products including audio equipment, CD and vinyl, accessories, and others. These factors boost the growth of the travel retail market at railway stations.
LIST OF TABLES
TABLE 1. TRAVEL RETAIL MARKET, BY PRODUCT, 2017-2025 ($BILLION)
TABLE 2. TRAVEL RETAIL MARKET REVENUE FROM PERFUMES & COSMETICS, BY REGION, 2017-2025 ($BILLION)
TABLE 3. NORTH AMERICA PERFUMES AND COSMETICS TRAVEL RETAIL MARKET BY COUNTRY, 2017-2025 ($BILLION)
TABLE 4. EUROPE PERFUMES AND COSMETICS TRAVEL RETAIL MARKET BY COUNTRY, 2017-2025 ($BILLION)
TABLE 5. ASIA-PACIFIC PERFUMES AND COSMETICS TRAVEL RETAIL MARKET BY COUNTRY, 2017-2025 ($BILLION)
TABLE 6. LAMEA PERFUMES AND COSMETICS TRAVEL RETAIL MARKET BY COUNTRY, 2017-2025 ($BILLION)
TABLE 7. TRAVEL RETAIL MARKET REVENUE FROM FOOD, CONFECTIONERY & CATERING, BY REGION, 2017-2025 ($BILLION)
TABLE 8. NORTH AMERICA FOOD, CONFECTIONERY & CATERING TRAVEL RETAIL MARKET BY COUNTRY, 2017-2025 ($BILLION)
TABLE 9. EUROPE FOOD, CONFECTIONERY & CATERING TRAVEL RETAIL MARKET BY COUNTRY, 2017-2025 ($BILLION)
TABLE 10. ASIA-PACIFIC FOOD, CONFECTIONERY & CATERING TRAVEL RETAIL MARKET BY COUNTRY, 2017-2025 ($BILLION)
TABLE 11. LAMEA FOOD, CONFECTIONERY & CATERING TRAVEL RETAIL MARKET BY COUNTRY, 2017-2025 ($BILLION)
TABLE 12. TRAVEL RETAIL MARKET REVENUE FROM ELECTRONICS TRAVEL RETAIL, BY REGION, 2017-2025 ($BILLION)
TABLE 13. NORTH AMERICA ELECTRONICS TRAVEL RETAIL MARKET BY COUNTRY, 2017-2025 ($BILLION)
TABLE 14. EUROPE ELECTRONICS TRAVEL RETAIL MARKET BY COUNTRY, 2017-2025 ($BILLION)
TABLE 15. ASIA-PACIFIC ELECTRONICS TRAVEL RETAIL MARKET BY COUNTRY, 2017-2025 ($BILLION)
TABLE 16. LAMEA ELECTRONICS TRAVEL RETAIL MARKET BY COUNTRY, 2017-2025 ($BILLION)
TABLE 17. TRAVEL RETAIL MARKET REVENUE FROM WINES & SPIRITS TRAVEL RETAIL, BY REGION, 2017-2025 ($BILLION)
TABLE 18. NORTH AMERICA WINES & SPIRITS MARKET BY COUNTRY, 2017-2025 ($BILLION)
TABLE 19. EUROPE WINES & SPIRITS TRAVEL RETAIL MARKET BY COUNTRY, 2017-2025 ($BILLION)
TABLE 20. ASIA-PACIFIC WINES & SPIRITS TRAVEL RETAIL MARKET BY COUNTRY, 2017-2025 ($BILLION)
TABLE 21. LAMEA WINES & SPIRITS TRAVEL RETAIL MARKET BY COUNTRY, 2017-2025 ($BILLION)
TABLE 22. TRAVEL RETAIL MARKET REVENUE FROM LUXURY GOODS, BY REGION, 2017-2025 ($BILLION)
TABLE 23. NORTH AMERICA LUXURY GOODS TRAVEL RETAIL MARKET BY COUNTRY, 2017-2025 ($BILLION)
TABLE 24. EUROPE LUXURY GOODS TRAVEL RETAIL MARKET BY COUNTRY, 2017-2025 ($BILLION)
TABLE 25. ASIA-PACIFIC LUXURY GOODS TRAVEL RETAIL MARKET BY COUNTRY, 2017-2025 ($BILLION)
TABLE 26. LAMEA LUXURY GOODS TRAVEL RETAIL MARKET BY COUNTRY, 2017-2025 ($BILLION)
TABLE 27. TRAVEL RETAIL MARKET REVENUE FROM TOBACCO, BY REGION, 2017-2025 ($BILLION)
TABLE 28. NORTH AMERICA TOBACCO TRAVEL RETAIL MARKET BY COUNTRY, 2017-2025 ($BILLION)
TABLE 29. EUROPE TOBACCO TRAVEL RETAIL MARKET BY COUNTRY, 2017-2025 ($BILLION)
TABLE 30. ASIA-PACIFIC TOBACCO TRAVEL RETAIL MARKET BY COUNTRY, 2017-2025 ($BILLION)
TABLE 31. LAMEA TOBACCO TRAVEL RETAIL MARKET BY COUNTRY, 2017-2025 ($BILLION)
TABLE 32. TRAVEL RETAIL MARKET REVENUE FROM WINES & SPIRITS, BY REGION, 2017-2025 ($BILLION)
TABLE 33. NORTH AMERICA OTHERS TRAVEL RETAIL MARKET BY COUNTRY, 2017-2025 ($BILLION)
TABLE 34. EUROPE OTHERS TRAVEL RETAIL MARKET BY COUNTRY, 2017-2025 ($BILLION)
TABLE 35. ASIA-PACIFIC OTHERS TRAVEL RETAIL MARKET BY COUNTRY, 2017-2025 ($BILLION)
TABLE 36. LAMEA OTHERS TRAVEL RETAIL MARKET BY COUNTRY, 2017-2025 ($BILLION)
TABLE 37. TRAVEL RETAIL MARKET, BY CHANNEL, 2017-2025 ($BILLION)
TABLE 38. AIRPORT TRAVEL RETAIL MARKET REVENUE, BY REGION, 2017-2025 ($BILLION)
TABLE 39. NORTH AMERICA AIRPORTS TRAVEL RETAIL MARKET BY COUNTRY, 2017-2025 ($BILLION)
TABLE 40. EUROPE AIRPORTS TRAVEL RETAIL MARKET BY COUNTRY, 2017-2025 ($BILLION)
TABLE 41. ASIA-PACIFIC AIRPORTS TRAVEL RETAIL MARKET BY COUNTRY, 2017-2025 ($BILLION)
TABLE 42. LAMEA AIRPORTS TRAVEL RETAIL MARKET BY COUNTRY, 2017-2025 ($BILLION)
TABLE 43. CRUISE LINERS TRAVEL RETAIL MARKET REVENUE, BY REGION, 2017-2025 ($BILLION)
TABLE 44. NORTH AMERICA CRUISE LINERS TRAVEL RETAIL MARKET BY COUNTRY, 2017-2025 ($BILLION)
TABLE 45. EUROPE CRUISE LINERS TRAVEL RETAIL MARKET BY COUNTRY, 2017-2025 ($BILLION)
TABLE 46. ASIA-PACIFIC CRUISE LINERS TRAVEL RETAIL MARKET BY COUNTRY, 2017-2025 ($BILLION)
TABLE 47. LAMEA CRUISE LINERS TRAVEL RETAIL MARKET BY COUNTRY, 2017-2025 ($BILLION)
TABLE 48. RAILWAY STATIONS TRAVEL RETAIL MARKET REVENUE, BY REGION, 2017-2025 ($BILLION)
TABLE 49. NORTH AMERICA RAILWAY STATIONS TRAVEL RETAIL MARKET BY COUNTRY, 2017-2025 ($BILLION)
TABLE 50. EUROPE RAILWAY STATIONS TRAVEL RETAIL MARKET BY COUNTRY, 2017-2025 ($BILLION)
TABLE 51. ASIA-PACIFIC RAILWAY STATIONS TRAVEL RETAIL MARKET BY COUNTRY, 2017-2025 ($BILLION)
TABLE 52. LAMEA RAILWAY STATIONS TRAVEL RETAIL MARKET BY COUNTRY, 2017-2025 ($BILLION)
TABLE 53. BORDER, DOWNTOWN, & HOTEL SHOPS TRAVEL RETAIL MARKET REVENUE, BY REGION, 2017-2025 ($BILLION)
TABLE 54. NORTH AMERICA BORDER, DOWNTOWN, & HOTEL SHOPS TRAVEL RETAIL MARKET BY COUNTRY, 2017-2025 ($BILLION)
TABLE 55. EUROPE BORDER, DOWNTOWN, & HOTEL SHOPS TRAVEL RETAIL MARKET BY COUNTRY, 2017-2025 ($BILLION)
TABLE 56. ASIA-PACIFIC BORDER, DOWNTOWN, & HOTEL SHOPS TRAVEL RETAIL MARKET BY COUNTRY, 2017-2025 ($BILLION)
TABLE 57. LAMEA BORDER, DOWNTOWN, & HOTEL SHOPS TRAVEL RETAIL MARKET BY COUNTRY, 2017-2025 ($BILLION)
TABLE 58. GLOBAL TRAVEL RETAIL MARKET, BY REGION, 2017-2025 ($BILLION)
TABLE 59. NORTH AMERICAN TRAVEL RETAIL MARKET REVENUE, BY PRODUCT, 2017-2025 ($BILLION)
TABLE 60. NORTH AMERICAN TRAVEL RETAIL MARKET REVENUE, BY CHANNEL, 2017-2025 ($BILLION)
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