The Estimated Size of the Travel Retail Market is expected to increase to $145.0 billion by 2028, at a CAGR of 14.9%
Retailers at travel retail stores are yet to catch-up with the innovations happening outside of their world. Nevertheless, Covid-19 will certainly accelerate transformation of travel retailers especially in contactless payments, loyalty programs, and digitization . 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.
Procure Complete Report (237 Pages PDF with Insights, Charts, Tables, and Figures) @checkout link :- https://www.alliedmarketresearch.com/checkout-final/c0729967ab21dda19018fc9482d70c18
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.
Wines & spirits 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 market. Passengers travelling over distances mostly prefer wines & spirits. Also, the growth in culture of owning luxurious goods and consumption of expensive wines & spirits are driving the growth of the market.
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% in the forecasted period.
Request For Customization @ https://www.alliedmarketresearch.com/request-for-customization/1606
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 European travel retail market. Being the historical home of most of the luxury houses, Europes market accounts for nearly $23 billion of the travel retail sector.
Key Findings of the Travel Retail Market :-
By channel, the airports segment accounted for the maximum market revenue in 2017, and is projected to grow at a CAGR of 9.6% during the forecast period.
By channel, the border, downtown, & hotel shops segment is expected to grow at the highest CAGR of 10.1%.
By product type, the perfumes & cosmetics segment accounted for more than 31% of travel retail market share in 2017, and is expected to dominate the global market by 2025.
By product type, the luxury goods segment is expected to grow at the highest CAGR of 12% during the forecast period.
China was the major shareholder in the Asia-Pacific travel retail industry, and accounted for around 67.4% share in 2017
The major players profiled in this report include :-
Aer rianta international
China duty free group co., ltd.
Duty free americas, inc
Gebr. Heinemann se & co.kg
King power international
Lagardère sca (lagardère travel retail)
Lvmh group (dfs group limited)
The shilla duty free
Ask for sample copy of this report@: https://www.alliedmarketresearch.com/request-sample/1606
5933 NE Win Sivers Drive
#205, Portland, OR 97220
USA/Canada (Toll Free): 1-800-792-5285, 1-503-894-6022, 1-503-446-1141
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Follow Us on LinkedIn: https://www.linkedin.com/company/allied-market-research
Allied Market Research is market research, consulting, and advisory firm of Allied Analytics LLP. Founded in 2013, the firm has been instrumental in offering high-quality syndicated and customized market research reports, consulting services, and useful insights to leading market players, startups, investors, and stakeholders. Driven by the aim to eliminate sub-standard data and become a successful partner for organizations, Allied Market Research has been innovating continuously, expanding the product & service portfolio, and implementing the client-first approach since its inception. With the clientele spanning more than 7,000 organizations that also include a majority of Fortune 500 companies, AMR has a proven track record of helping and serving the global clientele and playing a major role in their success.
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release The Estimated Size of the Travel Retail Market is expected to increase to $145.0 billion by 2028, at a CAGR of 14.9% here
News-ID: 2979756 • Views: 177
More Releases from Allied market research
Italy Gift Cards Market is projected to reach $18.26 billion by 2028 | EUROSPAR, …
Italy Gift Cards Market by Functional Attribute (Open-Loop Card and Closed-Loop Card) Distribution Channel (Online and Offline), Product Type (Physical Gift Card and Digital Gift Card), End User (Retail and Corporates), Age Group (Generation X, Generation Z/Millennials, and Baby Boomers), Application (Consumer Goods, Health & Wellness, Restaurants & Bars, Travel & Tourism, Media & Entertainment, and Others): Opportunity Analysis and Industry Forecast, 2021-2028 Report Sample PDF https://www.alliedmarketresearch.com/request-sample/5095 A gift card is a stored
Lottery Market Size is Projected to Reach $430.4 Billion by 2031 | Online Lotter …
According to a new report published by Allied Market Research, titled, "Lottery Market" The lottery market was valued at $300.60 billion in 2021, and is estimated to reach $430.4 billion by 2031, growing at a CAGR of 3.8% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends. Access Full
Transcriptomics Market by Type, Technology, Application, Global Opportunity Anal …
Allied Market Research recently said Transcriptomics is the study of the transcriptome, which refers to the complete set of RNA molecules that are transcribed from the DNA of an organism. It is a field of molecular biology that focuses on the analysis of the expression, processing, and regulation of RNA molecules in cells, tissues, and organisms. The transcriptomics market size was valued at $5,790.51 million in 2020, and is estimated
Pet Boarding Market is Projected to Reach $35.8 Billion by 2031 | Key players - …
According to a new report published by Allied Market Research, titled, "Pet Boarding Market By Pet Type, By Services: Global Opportunity Analysis and Industry Forecast, 2021-2030″. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends. The pet boarding market was valued at $19.5 billion in 2021, and is estimated to reach $35.8
More Releases for Retail
India Retail Market Top Key Players – Reliance Retail, V Mart, D Mart, Pantalo …
Indian retail industry has emerged as one of the most dynamic and fast-paced industries due to the entry of several new players. With the arrival of several new players, Indian retail has become one of the most dynamic and fast industries. The sector is the largest source of employment after agriculture and has deep penetration into rural India generating more than 10 per cent of India’s GDP. With the advancement in
Retail IoT Software Market 2020-2026 | Coffee Cloud, Honeywell Connected Retail, …
The Research Insights has included a report, titled a global Retail IoT Software market to its extensive repository. This analytical report has been compiled by using primary and secondary research techniques. The global market research report offers in-depth analysis of global market trends, platforms, drivers, restraints and opportunities. It also presents a complete overview of the global market with respect to current statistics, historical records, and future predictions. Retail IoT software
Global Organized Retail Market 2019 - Pantaloons Retail, Reliance Retail, Shoppe …
Organized retailing is the process of selling goods or merchandise all under one roof in a fixed location such as a departmental store, hypermarket, supermarket or even a convenience store. Organized retail also includes internet retailing, which is the process of buying and selling products and services, such as COD, card on delivery, or trial services, through the internet. Get Free Sample Copy of Report Here: http://bit.ly/2DdvEVA Scope of the Report: This report
Retail Display Industry Segment Analysis by Product Type Touch-screen retail dis …
The displays that are used in retail applications like POS systems, kiosks, ATMs, and digital signage are referred to as retail displays. The touchscreen displays segment in the retail sector accounted for the maximum market share during 2017. In 2018, the global Retail Display market size was xx million US$ and is forecast to xx million US in 2025, growing at a CAGR of xx% from 2018. In this study,
Global Retail Management Software Market 2017 - Cegid, OpenXcell Technolabs, Vis …
Global Retail Management Software Market 2017 Survival Strategies explore Economic Impact in Global Industries Manufactures, Growth, Size, Share, Trends, Development Challenges and Opportunities till 2022 A Research study on " Global Retail Management Software Market 2017-2022 " represent the market share and size of Retail Management Software in international Industry. MRS Research Group added latest market research report by QY Research. Research Report provides an essential information and statistically evaluated data
To enhance the portfolio and offering to the UK retail trade. Bizerba (UK) Ltd have expanded their offering of products to the portfolio. To accompany the additional products an added service to the retail trade is on site viewings. The service includes the entire retail product range which includes software and Meat and food slicers. All you have to do is contact Bizerba and book an appointment with the local