Press release
With 7.8% CAGR, Duty-free and Travel Retail Market Growth to Surpass US$ 58.8 Billion till 2023-28
The global duty-free and travel retail market size reached US$ 37.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 58.8 Billion by 2028, exhibiting a growth rate (CAGR) of 7.8% during 2023-2028.
What is Duty-free and travel retail?
Duty-free and travel retail comprises a specialized shopping experience that allows passengers to purchase a wide range of products, such as luxury goods, cosmetics, electronics, and fashion items, without being subject to certain local import taxes and duties. It caters to the distinct shopping preferences of travelers and offers enhanced convenience to individuals. It is primarily situated in international airports, seaports, border crossings, and cruise terminals. It is a time-saving purchasing solution while waiting for flights, during layovers, or before reaching the destinations and ensures a seamless shopping experience. It is an ideal place to find thoughtful gifts for loved ones or business associates. It allows travelers to purchase products at lower prices as compared to other regular retail outlets. It offers digital catalogs and pre-order options that allow for personalized shopping experiences. It assists in providing a wide range of premium brands and products and providing an exclusive and convenient shopping experience prior to departure or upon arrival. As it aids in attracting a wide consumer base due to their tax exemptions and price range, the demand for duty-free and travel retail is increasing around the world.
Request a Free PDF Sample for more detailed market insights: https://www.imarcgroup.com/duty-free-travel-retail-market/requestsample
What are the growth prospects and trends in the Duty-free and Travel Retail Industry:
At present, the rising number of travelers for leisure purposes across the globe represents one of the key factors strengthening the growth of the market. In line with this, the growing demand for outlets that offer a wide range of essential and luxury items and save time for individuals is positively influencing the market. Additionally, the increasing utilization of duty-free and travel retail while traveling among people due to the fast-paced lifestyles of individuals around the world is propelling the growth of the market. Apart from this, the changing consumer shopping preferences are offering lucrative growth opportunities to industry investors. In addition, there is an increase in the demand for air travel among business owners to deal with international clients across the globe. This, coupled with the rising popularity of duty-free and travel retail, as it also showcases products that are representative of the local culture and heritage to attract a large consumer base, is impelling the growth of the market. Besides this, the growing demand for enhanced and exclusive shopping experience among the masses around the world is offering a positive market outlook. Moreover, the increasing adoption of duty-free and travel retail, as it allows travelers to enjoy competitive prices and unique offers, is bolstering the growth of the market. Furthermore, the rising demand for a diverse range of products under one roof is contributing to the growth of the market.
Ask An Analyst: https://www.imarcgroup.com/request?type=report&id=6317&flag=F
Who are the key players operating in the industry?
• Aer Rianta International
• China Duty Free Group Co. Ltd.
• Dubai Duty Free
• Dufry
• Duty Free Americas Inc.
• Gebr. Heinemann SE & Co. KG
• James Richardson Group
• King Power International
• Lagardère Travel Retail
• Lotte Duty Free
• Sinsegae Duty Free and The Shilla Duty Free
The report has segmented the market on the basis of product type and distribution channel.
Breakup by Product Type:
• Beauty and Personal Care
• Wines and Spirits
• Tobacco
• Eatables
• Fashion Accessories and Hard Luxury
• Others
Breakup by Distribution Channel:
• Airports
• Airlines
• Ferries
• Others
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
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.
Browse Latest Research Reports 2023-2028:
• https://www.benzinga.com/pressreleases/23/07/33362687/cloud-continuum-market-size-growth-analysis-global-report-2023-2028
• https://www.benzinga.com/pressreleases/23/07/33362692/high-density-interconnect-hdi-pcb-market-size-share-industry-trends-growth-2023-2028
• https://www.benzinga.com/pressreleases/23/07/33362681/australia-leisure-battery-market-size-share-top-manufacturers-analysis-2023-2028
• https://www.benzinga.com/pressreleases/23/07/33362686/business-information-market-size-share-industry-growth-forecast-2023-2028
• https://www.benzinga.com/pressreleases/23/07/33363173/general-aviation-market-size-industry-growth-trends-forecast-2023-2028
Contact US
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
USA: +1-631-791-1145 | Asia: +91-120-433-0800
Email: sales@imarcgroup.com
Follow us on Twitter: @imarcglobal
LinkedIn: https://www.linkedin.com/company/imarc-group/mycompany/
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.
This release was published on openPR.
Permanent link to this press release:
Copy
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 With 7.8% CAGR, Duty-free and Travel Retail Market Growth to Surpass US$ 58.8 Billion till 2023-28 here
News-ID: 3180193 • Views: …
More Releases from IMARC Group
RegTech Market Size to Hit USD 70.8 Billion in 2033 | Grow CAGR by 18.0%
Market Overview:
The RegTech market is experiencing rapid growth, driven by increased regulatory complexity and stringency, the economic imperative for cost reduction and efficiency, and rapid advancement and integration of core technologies. According to IMARC Group's latest research publication, "RegTech Market Size, Share, Trends, and Forecast by Component, Deployment Mode, Enterprise Size, Application, End User, and Region, 2025-2033", the global RegTech market size was valued at USD 15.8 Billion in 2024.…
Bicycle Market to Grow Worth USD 102.05 Billion by 2033 | Exhibiting CAGR of 4.4 …
Market Overview:
The bicycle market is experiencing rapid growth, driven by widespread government investment in cycling infrastructure, the surge in e-bike popularity and technology, and strong global focus on health, fitness, and environmental well-being. According to IMARC Group's latest research publication, "Bicycle Market Size, Share, Trends and Forecast by Type, Technology, Price, Distribution Channel, End User, and Region, 2025-2033", The global bicycle market size was valued at USD 67.42 Billion in…
Global Metal Casting Market Report 2025: Size Projected USD 325.69 Billion, CAGR …
According to the latest report by IMARC Group, titled "Metal Casting Market Size, Share, Trends and Forecast by Process, Material Type, End Use, Components, Vehicle Type, Electric and Hybrid Type, Application, and Region, 2025-2033", offers a comprehensive analysis of the industry, which comprises insights on the global metal casting market. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The global metal casting market size…
Global Siding Market Edition 2025: Industry Size to Reach USD 142.3 Billion by 2 …
Market Overview
The global Siding Market size was valued at USD 104.8 Billion in 2024 and is expected to reach USD 142.3 Billion by 2033. The market is forecasted to grow at a CAGR of 3.46% during the period from 2025 to 2033. This growth is driven by increased worldwide construction activities, technological advancements in siding materials, heightened energy efficiency requirements, aesthetic demands, and regulatory guidelines.
Study Assumption Years
• Base Year: 2024
• Historical Year/Period:…
More Releases for Duty
Travel Retail Market Hits New High | Major Giants China Duty Free Group, Shilla …
HTF MI just released the Global Travel Retail Market Study, a comprehensive analysis of the market that spans more than 143+ pages and describes the product and industry scope as well as the market prognosis and status for 2025-2032. The marketization process is being accelerated by the market study's segmentation by important regions. The market is currently expanding its reach.
Major Giants in Travel Retail Market are:
LVMH, DFS Group, Dufry, Lagardère…
Duty-free Retailing Market Forecast: Segments, Drivers, and Growth Factors to 20 …
DataM Intelligence has released a new research report on the Duty-free Retailing market. The report provides a detailed analysis of current and emerging trends, offering insights into the market dynamics. It utilizes Porter's Five Forces model to assess key factors such as supplier and customer relationships, risks from various agents, competitive intensity, and opportunities for new entrants. The study also includes research data from various companies, analyzing factors like benefits,…
Duty Free & Travel Retail Market Next Big Thing | Lotte Duty-Free, Duty-Free Ame …
Advance Market Analytics published a new research publication on "Duty Free & Travel Retail Market Insights, to 2030" with 232 pages and enriched with self-explained Tables and charts in presentable format. In the Study you will find new evolving Trends, Drivers, Restraints, Opportunities generated by targeting market associated stakeholders. The growth of the Duty Free & Travel Retail market was mainly driven by the increasing R&D spending across the world.
Get…
Duty-Free Retailing Market is Expected to Generate $94.2 Billion by 2031 | Dufry …
According to a new report published by Allied Market Research, titled, "Duty-Free Retailing Market by Product Type (Perfume & Cosmetics, Electronics, Wine & Spirits, Food, Confectionery & Catering, Tobacco, Luxury Goods, Others), by Sales Channel (Airports, Cruise Liners, Railway Stations, Border, Down-Town & Hotel Shop): Global Opportunity Analysis and Industry Forecast, 2021-2031". The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market…
Global Duty-Free Retailing Market 2020 Top Key Players: Lagardère Travel Retai …
Summary
A New Market Study, titled “Duty-Free Retailing Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.
This report provides in depth study of “Duty-Free Retailing Market” using SWOT analysis i.e. Strength, Weakness, Opportunities and Threat to the organization. The Duty-Free Retailing Market report also provides an in-depth survey of key players in the market which is based on the various objectives of an organization such as profiling, the product outline, the…
Duty Free Retailing Market Outlook to 2027 - Aer Rianta International (ARI), Chi …
The global duty free retailing market revenue from 2019 to 2027. The global duty free retailing market accounted for US$ 77.87 Bn in 2018 and is anticipated to grow at a CAGR of 8.44% to reach US$ 155.30 Bn by 2027.
The latest Duty Free Retailing market study offers an all-inclusive analysis of the major strategies, corporate models, and market shares of the most noticeable players in this market. The study…
