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Travel Retail Market Global analysis and Forecast by 2023 including leading players like DFS Group, Dufry, LS Travel Retail, Lotte Duty Free, King Power International Group, The Shilla Duty Free, Gebr. Heinemann, China Duty Free Group (CDFG)

05-23-2019 06:41 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Premium Market Insights

Travel Retail Market Global analysis and Forecast by 2023

The global Travel retail market size is expected to reach $125.1 billion by 2023, registering a CAGR of 8.9% during the forecast period.Rise in disposable income has elevated the consumers' lifestyle and shifted their preference towards apparels, luxury goods, premium fragrances, cosmetics, and other products. Moreover, the development in emerging nations such as Asia-Pacific and LAMEA is projected to supplement the global travel retail market growth. However, unorganized local market and stringent government regulations in airport retailing hamper the global travel retail market growth.

Some of the major players operating in the market are 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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The global travel retail market is segmented on the basis of product, channel, and geography. The product segment includes perfumes & cosmetics, wine & spirits, tobacco, electronics, luxury goods, food & confectionery, and catering & others. In 2016, beauty products, namely, perfumes & cosmetics accounted for the maximum revenue with more than 30% market share. Based on channel, the global travel retail market is classified into airports; cruise liners; railway stations; and border, downtown, & hotel shops. Regionally, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

On the basis of product type, the luxury goods segment is anticipated to register the highest growth rate during the forecast period in the travel retail market. The purchase of these goods is extremely dependent on the economic stability of any region, as the goods are majorly procured by the upper economic classes. Regionally, Asia-Pacific is expected to dominate the global market during the analysis period, due to the presence of large number of retail companies in China, India, Thailand, and others. In addition, the market in Asia-Pacific is expected to grow at the fastest rate due to increase in number of high net worth individuals and a growing tourism industry.

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Table of Contents

Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Global Travel Retail Market By Product
Chapter 5 Global Travel Retail Market By Channel
Chapter 5: World Travel Retail Market, by Geography
Chapter 7: Company Profile

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