At a Booming 14.9% Growth Rate: Travel Retail Market Generating Revenue of $145.0 billion by 2026 - AMR

Travel Retail Market Opportunity Analysis and Industry Forecast, 2021-2028

According to a new report published by Allied Market Research, titled, "Global Travel Retail Market by Product Type, and Channel: Global Opportunity Analysis and Industry Forecast, 2021-2028." The global travel retail market size is expected to reach $145.0 billion by 2028, registering a CAGR of 14.9% during the forecast period.

The 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.

Ask for sample copy of this report@: https://www.alliedmarketresearch.com/request-sample/1606

Travel Retail Market Recent Developments

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.

Growth, Trends

The wines & spirits segment 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 travel retail market demand. Passengers travelling over distances mostly prefer wines & spirits. Also, the growth in culture of owning luxurious goods and consumption of expensive wines & spirits drives the growth of the travel retail market trends.

Scope of the Report

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% during the forecast 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 Europe travel retail market. Being the historical home of most of the luxury houses, Europe market accounts for nearly $23 billion of the travel retail sector.

Get detailed COVID-19 impact analysis@ Request For Customization @ https://www.alliedmarketresearch.com/request-for-customization/1606?reqfor=covid

Key findings of the study

By channel, the airports segment accounted for the maximum market revenue in 2020, and is projected to grow at a CAGR of 14.9% during the forecast period.
By channel, the border, downtown, & hotel shops segment is expected to grow at the highest CAGR of 14.7%.
By product, the perfumes & cosmetics segment accounted for more than 31.5% of travel retail market in 2020, and is expected to dominate the global market by 2028.
By product, the luxury goods segment is expected to grow at the highest CAGR of 19.4% during the forecast period.
By region, China was the major shareholder in the Asia-Pacific travel retail industry, and accounted for around 41.1% share in 20207.

Competitive Landscape
Aer rianta international
China duty free group co., ltd.
Dufry ag
Duty free americas, inc
Gebr. Heinemann se & co.kg
King power international
Lotte hotel
Lagardère sca (lagardère travel retail)
Lvmh group (dfs group limited)
The shilla duty free

Buy Now ;- https://www.alliedmarketresearch.com/checkout-final/1d2fae54c70c89665b8cc749e7a88ab9

FREQUENTLY ASKED QUESTIONS?
Q1. What travel retail market size from 2021 to 2028?
Q2. What is the CAGR of travel retail market?
Q3. How can I get sample report of travel retail market?
Q4. Which are the top companies in the travel retail market?
Q5. What are the segments of travel retail market?

TABLE OF CONTENT :-
CHAPTER 1: INTRODUCTION

1.1. Report description
1.2. Key market benefits for stakeholders
1.3. Key market segments
1.4. Research methodology

1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models

CHAPTER 2: EXECUTIVE SUMMARY

2.1. Snapshot
2.2. Cxo perspective

CHAPTER 3: MARKET OVERVIEW

3.1. Market definition and scope
3.2. Key findings

3.2.1. Top impacting factors
3.2.2. Top investment pockets
3.2.3. Top winning strategies

3.3. Porter's five force analysis

3.3.1. Bargaining power of suppliers
3.3.2. Bargaining power of buyers
3.3.3. Threat of substitution
3.3.4. Threat of new entrant
3.3.5. Competitive rivalry

3.4. Market share analysis,2017
3.5. Market dynamics

3.5.1. Drivers

3.5.1.1. Development of the travel & tourism industry
3.5.1.2. Rapid growth in urbanization
3.5.1.3. Rise in disposable income

3.5.2. Restraints

3.5.2.1. Unorganized local markets
3.5.2.2. Stringent government rules, particularly for airport retailing

3.5.3. Opportunities

3.5.3.1. Growth in Asia-Pacific and LAMEA Economies

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): 1-800-792-5285, 1-503-894-6022, 1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on LinkedIn: https://www.linkedin.com/company/allied-market-research

Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small- & medium-scale enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

Allied Market Research provides one-stop solution right from data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients understand the significance and impact of market dynamics. The company applies client's insight on the factors such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligence support to help clients transform into a prominent business firm.

This release was published on openPR.