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The latest research studyTravel Retail Market: Global Industry Trends, Share, Size, Growth, Opportunities and Forecast 2022-2027by IMARC Group, finds that the global travel retail market reached a value of US$52.50 billion in 2021. Looking ahead, IMARC Group expects the market to reach a worth US$82.57 billion by 2027, growing at a CAGR of 7.60% during 2022-2027.

Impact of Covid-19:

We regularly monitor the direct effect of COVID-19 on the market, as well as the indirect influence of associated industries. These observations will be incorporated into the report.

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Industry definition and application:

Travel retail refers to the sale of products to international travelers during transit. It is organized in travel environments such as airports, seaports, ferries and cruises, where the consumer must present proof of nationality and travel to access the commercial area. It serves as an efficient way for travelers to purchase specialty goods after clearing security checks. Some of the most commonly available products in travel retail include personal care products, luxury goods, perfumes and cosmetics, wine and tobacco, electronics, food and confectionery.

Global Travel Retail Market Trends and Drivers:

The market is mainly driven by the significant growth in the travel and tourism industry, as retail and duty-free stores are one of the major sources of revenue for airports. Additionally, several technological advancements, such as the development of touch screens and interactive retail kiosks that provide passengers with attractive and effortless ordering and payment solutions, represent another major growth driver. In addition, the implementation of favorable government policies to promote international tourism, inflation in consumer income levels and the growing inclination of international travelers towards premium wines and spirits are some of the other factors. which create positive market outlook across the globe.

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Travel retail market Report scope

Report cover

Details

Market size value in 2021

US$52.50 billion

Market forecast in 2027

US$82.57 billion

Rate of growth

CAGR of 7.60% from 2022 to 2027

Base year for the estimate

2021

Historical data

2016-2021

Forecast period

2022-2027

Report cover

Revenue Forecast, Business Ranking, Competitive Landscape, Growth Factors and Trends

Segments Covered

Product type, sector, distribution channel and region

Regional scope

North America, Europe, Asia-Pacific, Latin America, Middle East and Africa

Profiled Key Companies

Aer Rianta International, China Duty Free Group Co. Ltd., Dufry AG, Duty Free Americas Inc, Gebr. Heinemann SE & Co. KG, KING POWER International, Lagardère SA, Lotte Hotels & Resorts (Lotte Corporation), LVMH Moët Hennessy Louis Vuitton and The Shilla Duty Free (Hotel Shilla Co. Ltd.).

Market dynamics

Parent Market Analysis, Market Growth Drivers and Barriers, Fast and Slow Growing Segment Analysis, COVID 19 Impact and Future Consumer Dynamics, Market Condition Analysis for the Forecast Period,

Customization overview

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

Report segmentation:

The report has segmented the market into the following categories:

Breakdown by product type:

Perfumes and Cosmetics

Wine and spirits

Electronic

Luxury products

Food, Confectionery and Catering

the tobacco

Others

Breakdown by sector:

Duty free

Customs cleared

Breakdown by distribution channel:

Airports

cruise liner

Station

Border, downtown and boutique hotel

By geography:

North America

oh United States

oh Canada

Asia Pacific

oh China

oh Japan

oh India

oh South Korea

oh Australia

oh Indonesia

oh Others

Europe

oh Germany

oh France

oh UK

oh Italy

oh Spain

oh Russia

oh Others

Latin America

oh Brazil

oh Mexico

oh Others

Middle East and Africa

List of major key players:

The major market players are Aer Rianta International, China Duty Free Group Co. Ltd., Dufry AG, Duty Free Americas Inc, Gebr. Heinemann SE & Co. KG, KING POWER International, Lagardère SA, Lotte Hotels & Resorts (Lotte Corporation), LVMH Moët Hennessy Louis Vuitton and The Shilla Duty Free (Hotel Shilla Co. Ltd.).

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About Us:

The IMARC Group is a leading market research firm providing management strategies and market research worldwide. We partner with clients across all industries and geographies to identify their most important opportunities, address their most critical challenges and transform their businesses.

IMARC’s information products include major business, scientific, economic and technological developments for business leaders in pharmaceutical, industrial and high-tech organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverages, travel and tourism, nanotechnology and new processing methods are at the top of the list. company expertise.

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