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Duty Free And Travel Retail Market Latest Insights, Growth Rate, Future Trends And Forecast To 2033
Duty Free And Travel Retail Market
As per the report, the duty free and travel retail market size has grown rapidly in recent years. It will grow from $42.02 billion in 2023 to $48.15 billion in 2024 at a compound annual growth rate (CAGR) of 14.6%. The duty free and travel retail market size is expected to see rapid growth in the next few years. It will grow to $83.50 billion in 2028 at a compound annual growth rate (CAGR) of 14.8%.
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What Is Driving The Growth Of The Global Duty Free And Travel Retail Market?
Rising International Travel To Drive Growth In Duty-Free And Travel Retail Markets
The growing international travel is expected to propel the growth of the duty-free and travel retail markets going forward. International travel is journeying between countries for purposes such as tourism, business, or other personal reasons. The surge in international travel is fueled by globalization, affordable airfares, business expansion, digital nomadism, and the allure of cultural exploration facilitated by improved transportation and technology. Duty-free and travel retail services allow travelers to purchase goods such as alcohol, tobacco, and luxury items at lower prices, often tax-free, enhancing the travel experience.
What Is The Key Trend In The Global Duty Free And Travel Retail Market?
Partnership Promises Enhanced Shopping Experience Via Digital Technology
Major companies operating in the duty-free and travel retail markets are adopting a strategic partnership approach to enhance their integration of augmented reality and virtual reality and their market reach. A strategic partnership typically refers to a collaborative relationship between two or more organizations combining their resources, expertise, and efforts to achieve common goals or objectives.
How Is The Global Duty Free And Travel Retail Market Segmented?
The duty free and travel retail market covered in this report is segmented -
1) By Product Type: Beauty And Personal Care, Tobacco, Eatables, Wines And Spirits, Fashion Accessories, Hard Luxury, Other Product Types
2) By Travel Type: Leisure, Business
3) By Distribution Channel: Airports, Airlines, Ferries, Other Distribution Channel
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How Is The Competitive Landscape Of The Global Duty Free And Travel Retail Market?
Major companies operating in the duty free and travel retail market are China Duty Free Group Co Ltd, Avolta AG, Lagardère Travel Retail, Dufry AG, Lotte Duty Free, Gebr Heinemann SE & Co. KG, DFS Group, Duty Free Americas Inc, Ever Rich Duty Free, Dubai Duty Free, James Richardson Group, WH Smith PLC, Shinsegae Duty Free, Aer Rianta International cpt , King Power International Group, Starboard Cruise Services, Qatar Duty Free, Tallink Duty Free AS, Gulf Air Duty Free, 3Sixty Duty Free & More, Flemingo International Ltd, Lotte Duty Free, The Shilla Duty Free, Sky Connection Ltd, Blue Water Bridge Duty Free Inc
Contents Of The Global Duty Free And Travel Retail Market
1. Executive Summary
2. Duty Free And Travel Retail Market Report Structure
3. Duty Free And Travel Retail Market Trends And Strategies
4. Duty Free And Travel Retail Market - Macro Economic Scenario
5. Duty Free And Travel Retail Market Size And Growth
…..
27. Duty Free And Travel Retail Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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