Duty-Free and Travel Retail Market 2023 Outlook in New Research Report

ReportsnReports.com adds "Duty-Free and Travel Retail Market - Global Outlook and Forecast 2018-2023" report to its research store.

The global duty-free and travel retail market size is expected to generate revenues of around $112 billion by 2023, growing at a CAGR of approximately 8% 2018-2023.

This market research report on global duty free and travel retail market offers analysis on market size & forecast, market share, industry trends, growth drivers, and vendor analysis. The market study also includes insights on segmentation by products (fragrance and cosmetics, liquor, fashion and accessories, tobacco goods, electronics, watches, and confectionery) and by geography (APAC, Europe, Americas, Middle East, and Africa).

Get Request Sample Copy of This Report at https://www.reportsnreports.com/contacts/requestsample.aspx?name=1730960.

Market Segmentation by Products: Fragrance and Cosmetics, Liquor, Fashion and Accessories, Tobacco Goods, Electronics, Watches & Confectionery

The global duty-free and travel retail market is driven by the increasing focus on digitalization of travel retail industry. The rise in the outbound tourists, a strong economy, the opening of new routes, and growing middle-class desire for air travel are some of the factors driving the development of the global market. The market research report provides in-depth market analysis and segmental analysis of the global duty-free and travel retail market by product and geography.

Duty-Free and Travel Retail Market - Overview

The growing demand for retail chains that offer luxury and premium brands of various products is augmenting the growth of the global duty-free and travel retail market. These distribution channels provide passengers value, enhance their experience while traveling, generate value addition to economic activity, and creates employment that contributes to overall GDP across the global market.

Get Discount at https://www.reportsnreports.com/contacts/discount.aspx?name=1730960.

The rising popularity of the travel and tourism industry is one of the primary factors in the global market. These services enhance the experience and value for money which enables consumers to shop premium and luxury brands at discounted price in the global market. The idea of temporary spaces that offer end-users extra time after security check-in and allows them to get entertained, excited, and indulgent with the ambiance and experience of shopping for international products.

The increasing focus on digitalizing the retailing process so that they could maximize their profit and convert more customers will boost sales in the global market. Various leading vendors are providing easy home delivery options and innovative customer services that improve their satisfaction levels and contributes to the growing revenues in the global duty-free and travel retail market. The benefit of attractive prices, service, convenience, recognition, and high-end product merchandising are some of the factors that will promote the evolution of the retail industry.

Duty-Free and Travel Retail Market- By Products: Demand for premium perfumes to boost sales in the global duty-free and travel retail market during the forecast period.

The global duty-free and travel retail market by product is segmented into fragrance and cosmetics, liquor, fashion and accessories, tobacco goods, electronics, watches, and confectionery. The fragrance and cosmetics dominated the majority of the market share in 2017, growing at a CAGR of approximately 10% during the forecast period. The growing demand for premium perfumes and growing popularity of make-up amongst the women of all age is propelling the growth of this segment in the global market.

The increasing number of professional working woman and rise in the travel frequency are some of the other factors augmenting the demand in the global market. The emergence of several dedicated outlets with modern and customer interactive designs will help vendors attract a large number of consumers in the market.

The players are providing pop-up stores that provide a range of personalized treatments, demonstrations, services, and giftwith purchase to boost revenues in the global duty-free and travel retail market. Additionally, rapid urbanization and boost in economic development across several emerging countries are driving the growth of this segment in the global market.

Complete report available with Table of Contents at https://www.reportsnreports.com/reports/1730960-duty-free-and-travel-retail-market-global-outlook-and-forecast-2018-2023.html.

Key Vendor Analysis

The global market is highly fragmented, and top players dominated the majority market share. The boom of the travel and tourism industry is encouraging the consumers to open new outlets and chains in the global duty-free and travel retail market. The increasing focus on offering a diverse and wide range of product collection will enable vendors to attract a large number of consumers and gain a larger market share. The adoption of innovative promotional campaigns and attractive price offerings will help the players sustain the competition in the global duty-free and travel retail market. The procurement of super-premium and luxury products will help companies gain a competitive advantage over other vendors in the market during the forecast period.

The major vendors in the global market are:
• Dufry AG
• Gebr. Heinemann
• Lotte
• Lagardère Travel Retail Group

Other prominent vendors include DFS, Shilla, China Duty Free Group Co.Ltd., King Power International, Duty Free Americas, Inc., AER Rianta International, Dubai Duty Free, James Richardson Group, Qatar Duty Free, and Flemingo International.

Key market insights include
1. The analysis of global duty-free and travel retail market provides market size and growth rate for the forecast period 2018-2023.
2. It offers comprehensive insights into current industry trends, trend forecast, and growth drivers about the global duty-free and travel retail market.
3. The report provides the latest analysis of market share, growth drivers, challenges, and investment opportunities.
4. It offers a complete overview of market segments and the regional outlook of global market.
5. The report offers a detailed overview of the vendor landscape, competitive analysis, and key market strategies to gain competitive advantage.

Browse all latest consumer goods market research reports at https://www.reportsnreports.com/market-research/consumer-goods/.

About Us:
ReportsnReports.com is your single source for all market research needs. Our database includes 500,000+ market research reports from over 95 leading global publishers & in-depth market research studies of over 5000 micro markets. With comprehensive information about the publishers and the industries for which they publish market research reports, we help you in your purchase decision by mapping your information needs with our huge collection of reports.

Contact Us:
Hrishikesh Patwardhan
Tel: + 1 888 391 5441
E-mail: sales@reportsandreports.com

This release was published on openPR.