Travel Retail Market Share, Trends and Leading Players By 2029: Dufry AG, Shilla Duty Free DFS Group, Heinemann etc.

Travel Retail Market Overview:

Travel retail refers to sales made in travel environments where customers require proof of travel to access the commercial area and are subject to taxes and duties. Duty-free and travel retail generates vital revenues for national aviation, travel, and tourism industries across the globe. The first duty-free and travel retail was launched in Shannon airport, Ireland, in 1947. Travel retail has been witnessing significant growth in the last few years due to the number of international travelers. 

The study gives a transparent view of the Global Travel Retail Market and includes a thorough competitive scenario and portfolio of the key players functioning in it. To get a clear idea of the competitive landscape in the market, the report conducts an analysis of Porter’s Five Forces Model. The report also provides a market attractiveness analysis, in which the segments and sub-segments are benchmarked on the basis of their market size, growth rate, and general attractiveness.

As per the Duty-Free World Council, duty-free and travel retail generated sales of USD 68.6 billion in 2017.  By the study of the various region including Americas, Europe, Asia Pacific, Middle East, and Africa. We have found that the Asia Pacific region is dominating the market. However, a western region such as Europe and North America is growing at a moderate pace. For instance, In Europe, travel retail has become a key component of aviation and maritime financing as well as an integral part of the traveling experience. In 2016, the revenue generated from travel retail was around USD 16 billion in Europe, of which over USD 10 billion (67%) was generated at airports, and USD 2 billion at maritime (11%).

The airport segment accounts for more than one-third of the market shares. This is because nowadays most of the people use to travel by airways rather than ships and roadways. The aviation industry is booming which in turn increases the sales of the travel retail market. In the Americas among major channels such as Aviation, maritime, and land, the major revenue generated was through the aviation channel. In North America, the revenue generated in the travel retail market through aviation was USD 1.9 billion, and through land USD 1.6 billion in 2017. Similarly, Latin America & the Caribbean have generated revenue of around USD 4.8 billion through aviation channel, most of this revenue was generated within airport terminals.

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The Major Players Covered in this Report: Dufry AG, Shilla Duty Free DFS Group, Heinemann, Lagardère Travel Retail, Lotte Duty Free, Retrail GmbH, & More...

By Product, Fashion and accessories, Perfume and cosmetics, Electronics, Food, Confectionery products, Bakery products, Catering, Luxury goods, Watches, Jewellery, Wine & spirits
By Channel, Airports, Cruise line, Border, down town, and hotel shops, Railway stations

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Growing Domestic Demand and Expanding Pharmaceutical Sector to Drive the Demand for Travel Retail in the APAC Region
Asia-Pacific region is anticipated to hold the largest market share in the global Travel Retail market during the forecast period 2021-2029. The growth in this region can be attributed to the presence of emerging economies like India, China, Japan, Vietnam, and Indonesia, which account for the largest share in this region. India is one of the largest producers of Travel Retail and a major exporter of the product to various countries across the globe. India accounts for around 80% of the world’s exports of Travel Retail. The favorable climatic conditions and growth of agricultural inputs and allied services like cold storage and warehousing in India are prompting higher production.

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Recent Developments:
In September 2018, Dufry AG signed a strategic agreement with Perth Airport Pty. Ltd to launch two duty-free stores at the entrance and exit of the International terminal in Australia

In 2016, Butlers launched a new chocolate café outlet in Dubai airport. The company plans to develop travel retail sales through new outlets and the introduction of new products

The report covers exhaustive analysis on:
Overview of the parent market
Global Travel Retail Market Segments, Dynamics, Market Size, Share, Price, Volume, and Cost
Historical, current and projected market size in terms of volume and value
Global Travel Retail Market Forecast 2021 to 2029
Supply & Demand Value Chain
Global Travel Retail Market dynamics, including the current trends/drivers/threats/restraints/challenges
Potential and niche segments/regions exhibiting promising growth
Market landscape, competition, and leading companies involved
Strategies of leading companies and product offerings
Technological advancements

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This release was published on openPR.