Travel Retail Market by Product (Perfume & Cosmetics, Wine & Spirit, Electronics, Luxury Goods, Food, Confectionery & Catering, Tobacco, and Others) and Channel (Airport; Cruise Liner; Railway Station; and Border, Downtown, & Hotel Shop): Global Opportunity Analysis and Industry Forecast, 2018 - 2025
Travel Retail Market Overview:
The global Travel retail market size is expected to reach $153.7 billion by 2025, registering a CAGR of 9.6% during the forecast period.
Rise in disposable income improves consumers’ lifestyle and shifts their preference toward apparels, luxury goods, premium fragrances, cosmetics, and other products. Moreover, developments in emerging economies such as Asia-Pacific and LAMEA is projected to supplement the growth of the global travel retail market. However, unorganized local market and stringent government regulations in airport retailing hamper the market growth.
The global travel retail market is segmented based on product, channel, and region. The product segment includes perfumes & cosmetics, wine & spirits, tobacco, electronics, luxury goods, food & confectionery, and catering & others. In 2017, beauty products, namely, perfumes & cosmetics segment accounted for the maximum revenue with more than 31% market share. Based on channel, the global travel retail market is classified into airports; cruise liners; railway stations; and border, downtown, & hotel shops. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Based on product type, the luxury goods segment is anticipated to register the highest growth rate during the forecast period in the travel retail market. The purchase of these goods is totally dependent on the economic stability of any region, as the goods are majorly procured by the upper economic classes. Based on region, Asia-Pacific is expected to dominate the global market during the analysis period, due to the presence of a large number of retail companies in China, India, Thailand, and others. In addition, the market in Asia-Pacific is expected to grow at the fastest rate due to increase in the number of high net worth individuals and growth of the tourism industry.
Key Benefits for Travel Retail Market :
This report provides an in-depth analysis of the global travel retail market to identify the potential investment pockets.
It outlines the current trends and future scenarios to determine the potential of the travel retail market and enable stakeholders to gain a stronger market foothold.
Key drivers, restraints, and opportunities and their detailed impact analyses are elucidated.
Quantitative analysis of the travel retail industry from 2017 to 2025 is highlighted to recognize the financial competency of the market.
Porter’s Five Forces model illustrates the threat of new entrants, threat of substitutes, and strength of the buyers & suppliers.
Travel Retail Key Market Segments :
By Product Type
Perfumes & Cosmetics
Wine & Spirit
Food, Confectionery, & Catering
Border, Downtown, & Hotel Shop
Rest of Europe
Rest of Asia-Pacific
The Other Players in the Market Include the Following:
Regstaer Duty Free
Baltona Duty Free
Le Bridge Duty Free
Dubai Duty Free
James Richardson Corporation
Key Market Players Profiled in the Report Are:
LS Travel Retail
Lotte Duty Free
King Power International Group
The Shilla Duty Free
China Duty Free Group (CDFG)
Aer Rianta International (ARI)
The Naunace Group
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