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Europe Travel Retail Market Estimated to Reach $39.60 Billion by 2025, Growing at a 7.2% CAGR From 2018-2025
Europe Travel Retail Market
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The perfumes & cosmetics segment has a strong customer base in the Europe travel retail market. Some of the leading companies, such as Estee Lauder, L'Orรฉal, Rituals Cosmetics, Revlon, and others, are expanding their businesses by opening their outlets at every international airport with exclusive and wide range of fragrances and skin care products. Billions of people travel internationally every year, and thus, spend money and time at the 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.
The wines & spirits segment is the second largest revenue contributor in the Europe travel retail market. The consumption of wines, particularly luxury wines and spirits has witnessed considerable growth in the past few years. The wines & spirits segment, accounted for 16.3% share of the Europe travel retail market.
In addition, it has been observed that luxury wines & spirits are highly preferred by the international passengers, which leads to the growth of the Europe travel retail industry. Passengers travelling over distances mostly prefer wines & spirits. Also, growth in culture of owning luxurious goods and consumption of expensive wines & spirits drive the growth of the market.
Improvement in economic condition and growth in disposable income are the two key factors that propel the growth of the travel retail market. After the 2009 economic crisis in Europe, the world economy witnessed a standstill. However, strong recovery from the crisis resulted in notable economic growth, and has led to an increase in disposable income among the middle-income groups.
Duty-Free Shopping: Travelers often take advantage of duty-free shopping, where they can buy products at lower prices compared to regular retail due to exemptions from local taxes and duties.
International Airports and Ports: Major international airports and ports across Europe serve as significant hubs for travel retail. Cities like London, Paris, Frankfurt, and Amsterdam have some of the busiest airports, and these locations attract a large number of international travelers.
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Luxury Brands: Travel retail in Europe, especially in major airports, tends to feature a significant presence of luxury brands. High-end fashion, watches, jewelry, and cosmetics are popular categories for duty-free shopping.
Regulations and Restrictions: The travel retail industry is subject to various regulations and restrictions, including limits on the quantities of certain products that travelers can purchase duty-free. These regulations can vary from country to country.
Technology Integration: Some airports in Europe have embraced technology to enhance the travel retail experience. This includes digital signage, interactive displays, and mobile apps that provide information about promotions and allow for easy navigation within the retail spaces.
Sustainability: There is a growing focus on sustainability within the travel retail industry. Airports and retailers are increasingly implementing eco-friendly practices and promoting sustainable products.
๐๐๐ง๐ญ ๐ ๐ฎ๐ฅ๐ฅ ๐๐๐ฉ๐จ๐ซ๐ญ? ๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐๐๐ซ๐: https://www.alliedmarketresearch.com/purchase-enquiry/5262
The report offers a comprehensive analysis of the key players such as Autogrill S.p.A., daa Plc., Dufry AG, Flemingo International Ltd., Gebr. Heinemann SE & Co. KG, Lagardรจre SCA, LVMH Group, RegStaer, TREยณ, and WH Smith PLC.
๐๐๐ฒ ๐ ๐ข๐ง๐๐ข๐ง๐ ๐ฌ ๐จ๐ ๐ญ๐ก๐ ๐๐ฎ๐ซ๐จ๐ฉ๐ ๐๐ซ๐๐ฏ๐๐ฅ ๐๐๐ญ๐๐ข๐ฅ ๐๐๐ซ๐ค๐๐ญ:
โ Based on country, the UK was the highest contributor to the Europe travel retail market in 2017, growing at a CAGR of 7.6% from 2018 to 2025.
โ Based on product, the perfumes & cosmetics segment accounted for nearly one-third share of the market in the Europe travel retail market in 2017, and is estimated to grow at a CAGR of 6.9% from 2018 to 2025.
โ The luxury goods segment is expected to experience growth at a CAGR of 9.5% during the forecast period.
โ Based on channel, the airports segment accounted for more than half share of the market in 2017, and is estimated to grow at CAGR of 7.2%.
โ Based on country, Germany accounted for a prominent market share in 2017, and is anticipated to grow at the highest CAGR of 10.8%.
๐๐๐๐ ๐๐จ๐ซ๐ ๐๐ซ๐๐ง๐๐ข๐ง๐ "๐๐๐ ๐๐ฑ๐๐ฅ๐ฎ๐ฌ๐ข๐ฏ๐ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ:
โ Luxury Cosmetics Market is expected to garner $81,247.6 million by 2026
https://www.alliedmarketresearch.com/luxury-cosmetics-market
โ Luxury Apparels Market is projected to reach $278,181.5 million by 2031
https://www.alliedmarketresearch.com/luxury-apparels-market
โ Luxury Jewelry Market is projected to reach $40.19 billion by 2031
https://www.alliedmarketresearch.com/luxury-jewelry-market-A16918
โ Luxury Footwear Market is projected to reach $39,987.4 million by 2030
https://www.alliedmarketresearch.com/luxury-footwear-market
โ Electronic Cigarette Market is projected to reach $94,316.6 million by 2031
https://www.alliedmarketresearch.com/electronic-cigarette-market
โ Sunglasses Market is estimated to reach $18,164 million by 2027
https://www.alliedmarketresearch.com/sunglasses-market-A10356
โ Musical Instruments Market is projected to reach $11,589.8 million by 2030
https://www.alliedmarketresearch.com/musical-instrument-market-A07924
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