Press release
Primary Catalyst Driving Duty-Free Retailing Market Evolution in 2025: Surge In International Travel Drives Growth In Duty-Free Retailing Market Driver
Duty-Free Retailing Market Share
The growth of the duty-free retailing market is expected to be propelled by the surge in international travel and tourism. This growth is attributed to factors like enhanced global connectivity, rising disposable incomes, and the increasing desire for unique travel experiences. Duty-free retailing capitalizes on this by offering tax-free goods in airports and border locations. In February 2024, the International Trade Administration projected that the number of international visitors to the United States would rise to 77.7 million in 2024. Therefore, the growth of the international travel and tourism industry is fueling the growth of the duty-free retailing market.
Get Your Duty-Free Retailing Market Report Here:
https://www.thebusinessresearchcompany.com/report/duty-free-retailing-global-market-report
What Is the projected market size and growth rate for the duty-free retailing market?
The duty-free retailing market has experienced strong growth, with projections indicating an increase from $40.32 billion in 2024 to $43.95 billion in 2025, at a CAGR of 9.0%. Factors driving this growth include a growing middle class, improved air travel connectivity, streamlined customs procedures, local culture integration into offerings, and robust security measures at airports.
The duty-free retailing market is projected to grow to $61.41 billion by 2029 at a CAGR of 8.7%. Growth drivers include increasing international travel, higher disposable incomes, favorable currency exchange rates, improved airport design, demographic changes, and demand for exclusive products. Trends include airport expansions, technology investments, customer service improvements, digital payment advancements, and omnichannel strategies.
Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=18341&type=smp
What new trends are reshaping the duty-free retailing market and its opportunities?
Companies in the duty-free retailing market are also leveraging strategic partnerships to expand their customer base and improve brand experience. For example, in May 2023, L'Occitane Group teamed up with Dufry to promote Sol de Janeiro through online and offline channels, enhancing brand visibility. The partnership utilizes the Red by Dufry VIP program and in-store experiences to increase customer engagement.
What major market segments define the scope and growth of the duty-free retailing market?
The duty-free retailing market covered in this report is segmented -
1) By Product Type: Perfume And Cosmetics, Electronics, Wine And Spirits, Food, Confectionery And Catering, Tobacco, Luxury Goods, Other Types
2) By Ownership: Corporate Chains, Independent Owners, Franchises
3) By Sales Channel: Airports, Cruise Liners, Railway Stations, Border, Down-Town And Hotel Shop
Subsegments:
1) By Perfume And Cosmetics: Fragrances (Men's, Women's, Unisex), Skin Care Products, Hair Care Products, Makeup And Beauty Products, Bath And Body Products, Personal Care (Shaving, Deodorants)
2) By Electronics: Mobile Phones And Accessories, Laptops And Tablets, Headphones And Earphones, Cameras And Photography Equipment, Wearables (Smartwatches, Fitness Trackers), Travel Adapters And Chargers
3) By Wine And Spirits: Whiskey, Vodka, Gin, Rum, Wine (Red, White, Sparkling), Champagne, Liqueurs, Beer
4) By Food: Gourmet Snacks, Specialty Cheeses, Dried Fruits And Nuts, Sauces And Spices, Canned And Jarred Goods, International Delicacies
5) By Confectionery And Catering: Chocolate And Sweets, Candy, Biscuits And Cookies, Pastries And Cakes, Ice Cream And Frozen Desserts, Gift Hampers
6) By Tobacco: Cigarettes, Cigars, Smokeless Tobacco (snuff*, Chewing Tobacco), Electronic Cigarettes (E-Cigarettes), Tobacco Accessories (Lighters, Ashtrays)
7) By Luxury Goods: Designer Bags And Handbags, Luxury Watches, Fine Jewelry, Sunglasses, High-End Fashion Apparel, Luxury Footwear
8) By Other Types: Travel Accessories (Luggage, Travel Bags), Health And Wellness Products, Sports Equipment And Apparel, Home Décor And Gifts, Art And Collectibles
Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=18341
Which region dominates the duty-free retailing market?
Asia-Pacific was the largest region in the duty-free retailing market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the duty-free retailing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Which key market leaders are driving the duty-free retailing industry growth?
Major companies operating in the duty-free retailing market are Qatar Airways, Lotte Corp., Lagardere SA, Avolta AG, SHINSEGAE INTERNATIONAL, China International Travel Service Co. LTD., Hyundai Department Store Group Co. Ltd., Gebr. Heinemann SE and Co. KG, Dubai Duty-Free, James Richardson Group, Duty-Free Americas Inc., DFS Group Ltd., Japan Airport Terminal Co. Ltd., Changi Airport Group Singapore Pte. Ltd., Duty Free Philippines Corp., 3Sixty Duty Free, Ever Rich Duty Free Shop, Flemingo International, King Power Group, Delhi Duty-Free Services Pvt. Ltd., Mumbai Duty-Free, The Shilla Duty free
Customize Your Report - Get Tailored Market Insights!
https://www.thebusinessresearchcompany.com/customise?id=18341&type=smp
What Is Covered In The Duty-Free Retailing Global Market Report?
•Market Size Forecast: Examine the duty-free retailing market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the duty-free retailing market for a structured understanding.
•Key Players Overview: Analyze major players in the duty-free retailing market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the duty-free retailing market.
•Segment Contributions: Evaluate how different segments drive overall growth in the duty-free retailing market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the duty-free retailing market.
•Industry Challenges: Identify potential risks and obstacles affecting the duty-free retailing market.
•Competitive Landscape: Review strategic developments in the duty-free retailing market, including expansions, agreements, and new product launches.
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Primary Catalyst Driving Duty-Free Retailing Market Evolution in 2025: Surge In International Travel Drives Growth In Duty-Free Retailing Market Driver here
News-ID: 3924562 • Views: …
More Releases from The Business Research Company
Consistent Growth Projected for Social-To-Earn Network Market, Reaching $7.34 Bi …
What Is the Projected Size of the Social-To-Earn Network Market by 2025?
The social-to-earn network sector has witnessed substantial, rapid expansion lately, with projections showing a rise from a valuation of $2.30 billion in 2024 to $2.91 billion the following year, reflecting a consistent compound annual growth rate (CAGR) of 26.4% across the forecast timeframe. This historical upward trajectory is fundamentally driven by several interconnected factors: enhanced global access to mobile…
Accelerated Digital Transformation Fuels Expansion in the Smart Ferry Electrific …
How Much Is the Smart Ferry Electrification Market Expected to Expand by 2025?
The sphere of smart ferry electrification has witnessed swift expansion lately, projected to advance from a valuation of $1.24 billion in 2024 to $1.42 billion in 2025, demonstrating a compound annual growth rate (CAGR) calculated at 14.9%. This expansion across the historical timeframe is linked to several key factors, including the increasing availability of governmental support and financial…
2025-2034 Single Port DC Wallbox Charger Market Evolution: Emerging Opportunitie …
What Is the Projected Size of the Single Port DC Wallbox Charger Market by 2025?
The market scope for single-port DC wallbox chargers has seen substantial recent expansion; specifically, its valuation is projected to increase from $1.03 billion in 2024 to reach $1.22 billion by 2025, reflecting a compound annual growth rate of 17.9%. This historical upswing is primarily driven by surging electric vehicle sales across the globe, the increasing deployment…
Shelf Image Recognition Artificial Intelligence Market Poised for Robust Growth, …
How Much Is the Shelf Image Recognition Artificial Intelligence Market Expected to Expand by 2025?
The artificial intelligence market focused on recognizing items on shelves has experienced a remarkable surge lately; this segment is projected to expand from generating $1.43 billion in 2024 to reaching $1.82 billion in 2025, reflecting an impressive compound annual growth rate of 26.8%. This substantial expansion observed during the past period stems from several key factors,…
More Releases for Duty
Travel Retail Market Hits New High | Major Giants China Duty Free Group, Shilla …
HTF MI just released the Global Travel Retail Market Study, a comprehensive analysis of the market that spans more than 143+ pages and describes the product and industry scope as well as the market prognosis and status for 2025-2032. The marketization process is being accelerated by the market study's segmentation by important regions. The market is currently expanding its reach.
Major Giants in Travel Retail Market are:
LVMH, DFS Group, Dufry, Lagardère…
Duty-free Retailing Market Forecast: Segments, Drivers, and Growth Factors to 20 …
DataM Intelligence has released a new research report on the Duty-free Retailing market. The report provides a detailed analysis of current and emerging trends, offering insights into the market dynamics. It utilizes Porter's Five Forces model to assess key factors such as supplier and customer relationships, risks from various agents, competitive intensity, and opportunities for new entrants. The study also includes research data from various companies, analyzing factors like benefits,…
Duty Free & Travel Retail Market Next Big Thing | Lotte Duty-Free, Duty-Free Ame …
Advance Market Analytics published a new research publication on "Duty Free & Travel Retail Market Insights, to 2030" with 232 pages and enriched with self-explained Tables and charts in presentable format. In the Study you will find new evolving Trends, Drivers, Restraints, Opportunities generated by targeting market associated stakeholders. The growth of the Duty Free & Travel Retail market was mainly driven by the increasing R&D spending across the world.
Get…
Duty-Free Retailing Market is Expected to Generate $94.2 Billion by 2031 | Dufry …
According to a new report published by Allied Market Research, titled, "Duty-Free Retailing Market by Product Type (Perfume & Cosmetics, Electronics, Wine & Spirits, Food, Confectionery & Catering, Tobacco, Luxury Goods, Others), by Sales Channel (Airports, Cruise Liners, Railway Stations, Border, Down-Town & Hotel Shop): Global Opportunity Analysis and Industry Forecast, 2021-2031". The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market…
Global Duty-Free Retailing Market 2020 Top Key Players: Lagardère Travel Retai …
Summary
A New Market Study, titled “Duty-Free Retailing Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.
This report provides in depth study of “Duty-Free Retailing Market” using SWOT analysis i.e. Strength, Weakness, Opportunities and Threat to the organization. The Duty-Free Retailing Market report also provides an in-depth survey of key players in the market which is based on the various objectives of an organization such as profiling, the product outline, the…
Duty Free Retailing Market Outlook to 2027 - Aer Rianta International (ARI), Chi …
The global duty free retailing market revenue from 2019 to 2027. The global duty free retailing market accounted for US$ 77.87 Bn in 2018 and is anticipated to grow at a CAGR of 8.44% to reach US$ 155.30 Bn by 2027.
The latest Duty Free Retailing market study offers an all-inclusive analysis of the major strategies, corporate models, and market shares of the most noticeable players in this market. The study…
