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Travel Retail Market 2023 Analysis By Size, Share, Growth, Trends Up To 2032 | Aer Rianta international, China duty free group co.ltd., Dufry AG, Duty free americas Inc., Gebr. Heinemann se & co.kg
Travel Retail Global Market Report
The Business Research Company's Travel Retail Global Market Report 2023 identifies the growing number of international travellers is expected to propel the growth of the travel retail market going forward. Mass tourism and package holidays have opened markets to large numbers of individuals. Travel retail helps the international travellers to book their tickets at any place by using internet and it helps in making their journey easier, as a result increase in international travels will increase the demand for travel retail.
The global travel retail market size will grow from $68.91 billion in 2022 to $79.05 billion in 2023 at a compound annual growth rate (CAGR) of 14.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The size of travel retail market is expected to grow to $126.48 billion in 2027 at a CAGR of 12.5%.
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Major players in the travel retail market are 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, The shilla duty free, DFS Group, Flemingo International, The Naunace Group, Dufry, Dubai Duty Free, James Richardson Group, Lotte, and Qatar Duty Free.
A key trend in the Travel Retail market includes the Technological Advancement is a key trend gaining popularity in the travel retail market. Technological advancement is a discovery of knowledge that advances technology. Travel retailers are using data insights such as advanced knowledge about the arrival and destination of the customer, and to cater to specific needs. Staff and retail displays are designed to accommodate incoming passenger language and cultural sensitivity so that the right products are plainly visible to the right customers.
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The Travel Retail market is segmented -
1) By Product Type: Perfume and Cosmetics, Wine and Spirit, Electronics, Luxury Goods, Food, Confectionery, and Catering, Tobacco, Other Products
2) By Channel: Airports, Cruise Lines, Border, Down Town and Hotel Shops, Railway Stations, Other Channels
3) By End Users: Children (less than 18 years old), Youth (18-30 years old), Middle-aged (18-59 years old), The Elder (greater than 60 years old)
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Travel Retail market.
The Business Research Company's "Global Travel Retail Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Travel Retail Market Include:
1. Executive Summary
2. Travel Retail Market Characteristics
3. Travel Retail Market Trends And Strategies
4. Travel Retail Market - Macro Economic Scenario
5. Travel Retail Market Size And Growth
……
27. Travel Retail Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Travel Retail Market
29. Travel Retail Market Future Outlook and Potential Analysis
30. Appendix
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