Press release
Travel Retail Market Report 2023: Industry Overview Size, Share, Growth & Forecast till 2028
Travel Retail Market
The global travel retail market size reached US$ 56.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 88.6 Billion by 2028, exhibiting a growth rate (CAGR) of 7.5% during 2023-2028.
Travel retail encompasses the taxable sales made within travel environments, where individuals must provide proof of travel to access commercial areas. It offers an enticing platform for consumers to explore and encounter diverse brands while indulging in the acquisition of unique and exclusive products that are unavailable elsewhere. This dynamic channel represents significant growth potential and includes duty-free settings found in airports, airlines, cruises, downtown areas, and border shops. It plays a crucial role in generating essential revenue for national aviation, travel, and tourism sectors, thereby contributing to the improvement of their infrastructure and overall development. Additionally, travel retail tailors promotions and product offerings based on real-time transportation data.
Request a free sample report:- https://www.imarcgroup.com/travel-retail-market/requestsample
Global Travel Retail Market Trends and Drivers:
Currently, the market for travel retail is experiencing significant growth, primarily driven by the increasing popularity of travel among the general public. This trend is accompanied by a growing preference for purchasing souvenirs from duty-free sections of airports while traveling, which further contributes to the positive market outlook. Additionally, the ongoing construction of airports worldwide, aimed at improving connectivity and facilitating air travel, is fueling market growth. Moreover, the adoption of open-plan setups in airports, designed to encourage passengers to explore shops, browse through products, and make purchases, is also bolstering market expansion.
Global Travel Retail Market 2023-2028 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Aer Rianta International, China Duty Free Group Co. Ltd., Dufry AG, Duty Free Americas Inc, Gebr. Heinemann SE & Co. KG, KING POWER International, Lagardère S.A, Lotte Hotels & Resorts (Lotte Corporation), LVMH Moët Hennessy Louis Vuitton and The Shilla Duty Free (Hotel Shilla Co. Ltd.).
Browse complete report:- https://www.imarcgroup.com/travel-retail-market
The report has segmented the market on the basis of region, product type, sector and distribution channel.
Breakup by Product Type:
Perfume and Cosmetics
Wine and Spirit
Electronics
Luxury Goods
Food, Confectionery and Catering
Tobacco
Others
Breakup by Sector:
Duty-Free
Duty Paid
Breakup by Distribution Channel:
Airports
Cruise Liner
Railway Station
Border, Downtown and Hotel Shop
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Speak to Analyst:- https://www.imarcgroup.com/request?type=report&id=5653&flag=C
If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.
Key highlights of the report:
Market Performance (2017-2022)
Market Outlook (2023- 2028)
Porter's Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
Related Reports:-
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Automotive 3D Printing Market:- https://www.imarcgroup.com/automotive-3d-printing-market
Contact Us:
IMARC Services Private Limited.
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Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
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About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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