Supplements and Infant Milk Formula for Travel Retail Market Size is Expected to Reach $8,448.7 million by 2032

The Supplements and Infant Milk Formula for Travel Retail Market Size was $2,564.0 million in 2022 and is expected to reach 8,448.7 million by 2032, registering a CAGR of 9.5% from 2023 to 2032.

The Supplements and Infant Milk Formula for Travel Retail Market is mostly driven by health and nutrition education. Health and nutrition education plays a pivotal role in driving the market growth of the Supplements and Infant Milk Formula for Travel Retail Market. There is an increase in the demand for dietary supplements and infant nutrition solutions with rise in health-consciousness among consumers. Comprehensive health and nutrition education programs raise awareness among travelers about the benefits of these products and how they can support well-being, leading to increased sales. According to a study by the World Travel Retail Council, travelers who receive health and nutrition education at travel retail outlets are 30% more likely to make a purchase. This statistic underscores the impact of education on consumer behavior within the travel retail environment. Brands and retailers that invest in informative displays, brochures, and in-store experts offering advice on supplements and infant formula can significantly influence travelers' purchase decisions.

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In addition, in the wake of global health crises such as the COVID-19 pandemic, travelers are placing greater emphasis on the significance of a strong immune system and balanced nutrition. As a result, they increasingly seek products like immune-boosting supplements and premium infant milk formula for their travels. Health and nutrition education not only serves to inform consumers but also builds trust in the products available within the travel retail market. Evidently, educated travelers are more likely to make informed, impulse purchases, recognizing the value of these products for their health and well-being.

The busy, on-the-go lifestyle of travelers makes on-the-spot purchases appealing. Retailers have the chance to tap into this market by strategically placing their outlets in high-traffic areas within transportation hubs, and by offering a wide range of products tailored to different traveler needs. However, expiry and shelf-life constraints pose significant restraints on the Supplements and Infant Milk Formula for Travel Retail Market Growth . These products often have relatively short shelf lives, making it challenging for retailers and manufacturers to manage inventory effectively in the travel retail environment.

Moreover, this educational approach enhances the overall shopping experience for travelers who appreciate the availability of expert guidance when selecting products to meet their specific requirements. Collaborations with health organizations, nutrition experts, or influential health figures can provide authoritative and reliable information to travelers. Investing in health and nutrition education within the travel retail environment not only drives sales but also contributes to the overall satisfaction and well-being of customers. This approach aligns seamlessly with the changing preferences of health-conscious travelers and their desire to make informed choices while on the go.

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Moreover, competitive pricing has been a significant driver of opportunities for key players in the Supplements and Infant Milk Formula for Travel Retail Market. The pricing advantage serves as a powerful incentive for travelers to make purchases. Within this segment, health, and wellness products, including supplements and infant formula, have gained prominence. For key players in this market, offering competitive pricing allows them to tap into this growing trend. It not only attracts travelers but also encourages them to explore a wider range of products, creating opportunities for upselling and cross-selling within this niche market. In addition, brands that effectively leverage competitive pricing can enhance brand loyalty and boost their market presence.

The Supplements and Infant Milk Formula for Travel Retail Market segmention on the basis of category and region. By category, the market is classified into supplement and infant milk formula. Furthermore, the supplement segment is divided into child and adult.

The child segment is divided into vitamin supplements, protein supplements, probiotic supplements, and others. The adult segment is divided into vitamin supplements, protein supplements, biotin supplements, and others.

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By region, the market is analyzed across China, Europe (Germany, France, UK, Italy, Spain, and Rest of Europe), Asia-Pacific (Japan, India, South Korea, Australia, and Rest of Asia-Pacific), and US. Europe region accounted for a major share in the Supplements and Infant Milk Formula for Travel Retail Market Share in 2022 and is expected to grow at a significant CAGR of 8.9% during the forecast period.

The key companied analyzed in the report are Adani One, Dufry Ag, King Power International Co., Ltd, Lotte Corporation, Lvmh, Nestle S.A., The Shilla Duty Free, Wh Smith, Shinsegae Duty Free, And Walgreens Boots Alliance, Inc.

Key findings of the study

On the basis of category, the infant milk formula segment is projected to witness the highest CAGR of 10.8%, in revenue terms, during the forecast period.
On the basis of sub-category, adult segment is expected to dominate the market from 2022 to 2032.
On the basis of region/country, China is projected to witness the highest CAGR of 10.5%, in revenue terms, during the forecast period.

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