Duty-Free Retailing Market worth $96.92 billion by 2030, growing at a CAGR of 7.04% - Exclusive Report by 360iResearch

The "Duty-Free Retailing Market by Product (Electronics, Fashion & Accessories, Food & Confectionery), Type (Department Store, Direct Retailer, Specialty Retailer), Location - Global Forecast 2024-2030" report has been added to 360iResearch.com's offering.

The Global Duty-Free Retailing Market to grow from USD 60.16 billion in 2023 to USD 96.92 billion by 2030, at a CAGR of 7.04%.

Request a Free Sample Report @ https://www.360iresearch.com/library/intelligence/duty-free-retailing?utm_source=openpr&utm_medium=referral&utm_campaign=sample

Duty-free retailing refers to a specific type of retail environment where goods are sold to customers traveling internationally without imposing several local or national taxes and duties. This exemption from taxes and duties make duty-free shops an attractive option for travelers looking to purchase goods more economically. The rising number of airline passengers, the popularity of international tourism, and growing traction for retail chains offering luxury and premium brands drive the market growth. Increasing sales promotion at duty-free ones creates an awareness about duty-free retailing and fuels the market growth. Strict government regulations, political unrest, security considerations, and competition from downtown retailers limit market growth. Personalized brand experiences utilizing mobile social communications platforms further attract customers to spend more at duty-free outlets. Advanced cross-border mobile payment systems and the rise of concept stores are expected to offer lucrative opportunities in the market.

The duty-free retailing sector in the Americas is characterized by a robust growth trend, driven largely by increasing international tourist numbers, particularly in international airports. The United States has a significant position in the market owing to its powerful economy and the considerable number of international travelers. High disposable income in the region is expected to result in an expanded outlet network, consequently boosting growth. The duty-free retailing demand in EMEA has steadily grown in recent years. In Europe, duty-free retailing is seeing a resurgence with the inflow of travelers from Asia, specifically China. Meanwhile, in the Middle East, the UAE, particularly Dubai, continues to be a hub for duty-free retailing due to the strong presence of affluent consumers and tourists and international airport expansions. The African region also contributes to substantial growth as tourism begins to pick up, offering new commercial opportunities. In the Asia-Pacific (APAC), the duty-free retailing market has been the fastest growing, significantly driven by tourist arrivals, particularly in countries with strong tourism sectors, such as Japan, China, South Korea, and Thailand. Duty-free shops set up at airports, seaports, and the border have registered a sharp uptick in sales.

Market Segmentation & Coverage:

This research report categorizes the Duty-Free Retailing Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Product, market is studied across Electronics, Fashion & Accessories, Food & Confectionery, Hard Luxury Goods, Liquor & Tobacco, and Perfumes & Cosmetics. The Perfumes & Cosmetics commanded largest market share of 20.18% in 2023, followed by Liquor & Tobacco.

Based on Type, market is studied across Department Store, Direct Retailer, Specialty Retailer, and Supermarkets. The Specialty Retailer commanded largest market share of 33.35% in 2023, followed by Supermarkets.

Based on Location, market is studied across Cross-border Shops, International Airports, Passenger Ships, Sea Ports, and Train Stations. The International Airports commanded largest market share of 51.74% in 2023, followed by Sea Ports.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Asia-Pacific commanded largest market share of 40.07% in 2023, followed by Europe, Middle East & Africa.

Inquire Before Buying @ https://www.360iresearch.com/library/intelligence/duty-free-retailing?utm_source=openpr&utm_medium=referral&utm_campaign=inquire

FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Duty-Free Retailing Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in the Duty-Free Retailing Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

Key Company Profiles:

The report delves into recent significant developments in the Duty-Free Retailing Market, highlighting leading vendors and their innovative profiles. These include 3Sixty Duty Free, Adani Digital Labs Private Limited, Aer Rianta International cpt, AirAsia Group, ALFA Brands Inc., Avolta AG, China Duty Free Group Co., Ltd., Dubai Duty Free, Duty Free Americas, Inc., Duty Free International Limited, Ferrero International, Flemingo International Ltd., Gebr. Heinemann SE & Co. KG, Hanwha Corporation, Hyundai Department Store Group Co., Ltd., Inflyter SAS, JDC duty free, King Power Group, Lagardère Travel Retail SAS, Le Bridge Corporation Limited, Lotte Corporation, LVMH Moët Hennessy Louis Vuitton, NAA Retailing Corporation, Przedsiębiorstwo Handlu Zagranicznego Baltona S.A., Qatar Duty Free Company W.L.L., Shilla Travel Retail Pte Ltd., Shinsegae DF by Shinsegae Co., Ltd., The James Richardson Group, Tobacco Plains Duty Free Shop, Unifree, and WH Smith PLC.

Key Topics Covered:

1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Duty-Free Retailing Market, by Product
7. Duty-Free Retailing Market, by Type
8. Duty-Free Retailing Market, by Location
9. Americas Duty-Free Retailing Market
10. Asia-Pacific Duty-Free Retailing Market
11. Europe, Middle East & Africa Duty-Free Retailing Market
12. Competitive Landscape
13. Competitive Portfolio

The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:
1. What is the market size and forecast of the Duty-Free Retailing Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Duty-Free Retailing Market?
3. What is the competitive strategic window for opportunities in the Duty-Free Retailing Market?
4. What are the technology trends and regulatory frameworks in the Duty-Free Retailing Market?
5. What is the market share of the leading vendors in the Duty-Free Retailing Market?
6. What modes and strategic moves are considered suitable for entering the Duty-Free Retailing Market?

Read More @ https://www.360iresearch.com/library/intelligence/duty-free-retailing?utm_source=openpr&utm_medium=referral&utm_campaign=analyst

Contact 360iResearch

Mr. Ketan Rohom
Sales & Marketing,
Office No. 519, Nyati Empress,
Opposite Phoenix Market City,
Vimannagar, Pune, Maharashtra,
India - 411014.
sales@360iresearch.com
+1-530-264-8485
+91-922-607-7550

About 360iResearch

360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.

We are a dynamic, nimble company that believes in carving ambitious, purposeful goals and achieving them with the backing of our greatest asset - our people.

Quick on our feet, we have our ear to the ground when it comes to market intelligence and volatility. Our market intelligence is diligent, real-time and tailored to your needs, and arms you with all the insight that empowers strategic decision-making.

Our clientele encompasses about 80% of the Fortune Global 500, and leading consulting and research companies and academic institutions that rely on our expertise in compiling data in niche markets. Our meta-insights are intelligent, impactful and infinite, and translate into actionable data that support your quest for enhanced profitability, tapping into niche markets, and exploring new revenue opportunities.

This release was published on openPR.