Duty Free Retailing Market SWOT analysis, Growth, Share, Size and Demand outlook by 2030 - CAGR Grow at 9.17%

The global Duty Free Retailing Market size was valued at USD 35.87 billion in 2022 and is expected to reach USD 72.23 billion by 2030, at a CAGR of 9.17% during the forecast period.

The Duty Free Retailing market Industry Report provides in-depth market data and sharp insights on the market's size, growth, forecasts, and other issues. Additionally, it provides recent Duty Free Retailing market statistics for the business as well as an industry viewpoint for projections through 2022. We provide resources for the benefit of executives, marketing, and sales. Product managers, consultants, analysts, and anyone looking for essential industry data in a single, easily accessible document may also obtain well-organised tables and graphs. The worldwide Duty Free Retailing market is further segmented in the research study by major rivals and brands, regions, product categories, and end users. This study also looks at the potential and difficulties, distribution routes, market shares, growth rates, and competitive environments of the international market.

Market Overview:

Duty-free retail is the purchase of products from stores located at airports, cruise ships and passenger ships, so that no tax is levied on the purchases. To avoid fees/taxes at the border, customers tend to buy at duty-free shops. A wide range of products can be purchased at this store, including perfumes, cosmetics, personal care products, food and beverages, electronics, fashion and accessories. The perfume and cosmetics segment is expected to witness significant growth in the global duty-free retail market over the forecast period (2019-2027). The Fragrance & Cosmetics segment includes duty-free fragrances, fragrances, and beauty and personal care products. Companies are focusing on launching multi-brand cosmetic stores to offer a wide range of products to tourists.

The Prominent Players in Duty Free Retailing market:
Dufry AG, LOTTE Duty Free Company, DFS Group Limited, Gebr. Heinemann SE & Co. KG, The Shilla Duty Free, The King Power International Group, James Richardson Corporation Pty Ltd., Duty Free Americas, Inc., Flemingo International Ltd., Dubai Duty Free, and China Duty Free Group Co., Lotte Duty Free (South Korea), The Shilla Duty Free (South Korea), Dufry AG (Switzerland), DFS Group (China), Gebr. Heinemann SE & Co. KG (Germany), Shinsegae Duty Free Inc. (South Korea)

Industry Insights:

April 2022: Thai travel retail company KING POWER International announces the opening of a revamped duty-free store at Suvarnabhumi Airport, Thailand. The strategic move underscores the company's intention to establish a strong position in the tax-exempt space.
November 2020 - France-based travel retail company Lagardère announces plans to open eight luxury stores in Shenzhen, China, and Hongqiao, Shanghai. This strategic move is expected to intensify competition among domestic retailers in China in the coming years.

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Duty Free Retailing by Segmentation:

By Type
• Perfumes
• Cosmetics
• Alcohol
• Cigarettes
• Others

By Sales Channel
• Airports
• Onboard Aircraft
• Seaports
• Train Stations
• Others

Reasons to Purchase This Report:
The updated research, available as an extract, also includes the option to acquire premium features that cover extensive historical, present, and future data. The report combines extensive quantitative analysis and exhaustive qualitative analysis, ranges from a macro overview of the total market size, industry chain, and market dynamics to micro details of segment markets by type, application and, region, and, as a result, provides a holistic view of, as well as a deep insight into the Duty Free Retailing market covering all its essential aspects.

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Regional Insights:

Asia Pacific accounted for the largest market share in the global duty-free retail market in 2018 and is expected to dominate during the forecast period due to the introduction of convenient stores and increase in passengers in the region. According to Airports Council International, in 2018, Beijing airport users exceeded 100 million, up 5.4% from 2017.

Duty Free Retailing Market Dynamics:

The proliferation and introduction of new international airports across countries is creating lucrative business opportunities for industry players. For example, in February 2021, the Airports Authority of India (AAI), an Indian government agency that operates 125 airports, announced a USD 135.07 million (INR 987 crore) construction project for the first phase of the international airport, named 'Dolera'. issued a permit. from Gujarat. According to the Global Aviation Summit 2019, the Civil Aviation Ministry's 'Indian Aviation's Vision 2040' claims that 190-200 airports will be operational in India by 2040. There are three international airports each in Delhi and Mumbai, and two airports serving India's top 31 cities. The 622 aircraft that crossed India in 2018 are expected to more than double to 2,359 by March 2040.

Following Chapter Covered in the Duty Free Retailing Market Research:

Chapter 1- Provides an overview of Duty Free Retailing market, containing global revenue and CAGR. The forecast and analysis of Duty Free Retailing market by type, application, and region are also presented in this chapter.
Chapter 2- Describes the market environment and major players. It provides basic information of these players along with competitive situation and market concentration status.
Chapter 3- Introduces the industrial chain of Duty Free Retailing. In this chapter, industrial chain analysis, raw materials (suppliers, price, supply and demand, market concentration rate), and downstream buyers are analysed.
Chapter 4- Concentrates on manufacturing analysis, including cost structure analysis and process analysis, constituting a comprehensive analysis of manufacturing cost.
Chapter 5- Provides clear insights on market dynamics, impact of COVID-19 on industries, and analysis of consumer behaviour.
Chapter 6- Provides a full-scale analysis of major players in Duty Free Retailing industry. Basic information is provided as well as profile, applications, and specifications of product market performance along with business overview.
Chapter 7- Pays attention to the sales, revenue, price, and gross margin of Duty Free Retailing in different geographical markets. This part covers the analysis of sales, revenue, price, and gross margin in the global market.
Chapter 8- Gives a worldwide view of the market Duty Free Retailing. It includes sales, revenue, price, market share, and growth rate by type.
Chapter 9- Focuses on the application of Duty Free Retailing, by analysing the consumption and growth rate of each application.
Chapter 10- Forecasts the entire Duty Free Retailing market, including global sales and revenue forecasts, as well as regional forecasts. It also foresees the Duty Free Retailing market by type and application.

• Historical Years: 2017-2021
• Base Year: 2022
• Estimated Year: 2022
• Forecast Period: 2023-2030

FAQs:
1) What Is the Industry's Current Market Situation?
2) What is the level of market competition in this sector, both regionally and nationally?
3) What is Market Analysis of the Market Considering Applications and Types?
4) What Will the Supply, Consumption, and Market Share Be?
5) What Does Upstream Raw Material and Downstream Industry Market Chain Analysis?

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