Global Duty-Free Retail Market Valued at USD 50.74 Billion in 2023, Expected to Grow at a 9.1% CAGR Through 2030

Anticipated Growth in Revenue:

The duty-Free Retail Market was valued at USD 50.74 billion in 2023. Global Duty-Free Retail Market size is estimated to grow at a CAGR of 9.1 % over the forecast period.

Duty-Free Retail Market Overview:

Duty-free retailing is the practice of making purchases at stores with no sales tax at airports, ferries, and cruise ports. To avoid paying taxes at foreign borders, visitors and tourists frequently shop at duty-free retail stores.



Further, the Duty-Free Retail market is segmented by Type, Sales Channel, and geography. Based on Type, the Duty-Free Retail market is segmented into Perfumes, Cosmetics, Alcohol, Cigarettes, and Others. Based on the Sales Channel, the Duty-Free Retail market is segmented under the channels of Airports, Onboard aircraft, seaports, train stations, and others. Based on the Distribution Channel, the Duty-Free Retail market is segmented under the channels Online and Offline. By geography, the market covers the following regions: North America, Europe, Asia-Pacific, South America, and Middle East & Africa. For each segment, the market sizing and forecasts have been done based on (USD Billion).

𝐔𝐧𝐥𝐨𝐜𝐤 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬: 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐚 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐨𝐟 𝐎𝐮𝐫 𝐋𝐚𝐭𝐞𝐬𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰:https://www.stellarmr.com/report/Duty-Free-Retail-Market/1151

What are Duty-Free Retail Market Dynamics?

New international airports are being built all over the world, opening up significant economic opportunities for those working in the sector. For instance, the Airport Authority of India (AAI), a governmental organization in India that manages 125 airports, issued construction permission in February 2021 for the first phase of an international airport called "Dholera" in Gujarat for USD 135.07 million (INR 987 crore). According to the International Aviation Summit 2019, India would have 190-200 operational airports by the year 2040, as stated in the Civil Aviation Ministry's "Indian Aviation's Vision 2040." Delhi and Mumbai will each have three international airports, compared to two operational airports for each of the top 31 Indian cities. By March 2040, there should be 2,359 aircraft instead of the 622 that traveled over India in 2018.

𝐍𝐞𝐞𝐝 𝐌𝐨𝐫𝐞 𝐈𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐀𝐛𝐨𝐮𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 + 𝐆𝐫𝐚𝐩𝐡𝐬 𝐇𝐞𝐫𝐞:https://www.stellarmr.com/report/req_sample/Duty-Free-Retail-Market/1151

What is Duty-Free Retail Market Regional Insight?

The Asia Pacific duty-free retail market is expected to expand significantly. Recent events in several Asian nations may present possibilities for current and future duty-free retailers to introduce a wide range of cutting-edge goods. To develop the Hainan Free Trade Port (Hainan FTP) on the nation's southern coast, for instance, the central government of China declared several initiatives in its master plan dated June 1, 2020. The government also disclosed its goal of elevating Hainan FTP to the status of a world-class free trade port by 2050. In the upcoming years, this strategic decision will likely benefit domestic retail chains that provide a broad range of Duty-Free Retail products.

What is Duty-Free Retail Market Segmentation?

By Type

Perfumes
Cosmetics
Alcohol
Cigarette
Others
By Sales Channel

Airport
Onboard aircraft
seaport
Train stations
Others

𝐅𝐑𝐄𝐄 𝐆𝐞𝐭 𝐚 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰!https://www.stellarmr.com/report/req_sample/Duty-Free-Retail-Market/1151

Some of the current players in the Duty-Free Retail Market are:
China Duty-Free Group (China)
Lotte Duty-Free (South Korea)
The Shilla Duty-Free (South Korea)
Dufry AG (Switzerland)
DFS Group (China)
Gebr. Heinemann SE & Co. KG (Germany)
Shinsegae Duty-Free Inc. (South Korea)
The King Power International Group (Thailand)
Lagardère Group (France)

Key Offerings:

Past Market Size and Competitive Landscape
Duty-Free Retail Market Size, Share, Size & Forecast by different segment
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Duty-Free Retail Market Segmentation - A detailed analysis by Product
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations

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Established in 2018, Stellar Market Research is an India-based consulting and advisory firm focused on helping clients reach their business transformation objectives with advisory services and strategic business. The company's vision is to be an integral part of the client's business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from all across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.

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