Global Travel Retail Market Report 2023: Rising Number of International Travellers is Expected to Propel Growth

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Apr 24, 2023, 18:45 ET

Dublin, April 24, 2023 /PRNewswire/ -- The "Travel Retail Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.

This report provides strategists, marketers and senior management with the critical information they need to assess the market.

The global travel retail market grew from $68.91 billion in 2022 to $79.05 billion in 2023 at a compound annual growth rate (CAGR) of 14.7%. The travel retail market is expected to grow to $126.48 billion in 2027 at a CAGR of 12.5%.

Major players in the travel retail market are Aer Rianta international, China duty free group co.ltd., Dufry AG, Duty free americas Inc., Gebr. Heinemann se & co.kg, King power international, Lotte Hotel, Lagardere sca, The shilla duty free, DFS Group, Flemingo International, The Naunace Group, Dufry, Dubai Duty Free, James Richardson Group, Lotte, and Qatar Duty Free.

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Travel retail refers to the business mainly revolving around airports, airplanes, cruise ships, and downtown duty-free stores. Travel retail products are sold during a travel environment where taxes and duties are payable, even during international travels. It is also referred to as the business of catering to shoppers while they are in transit.

The main types of products in travel retail market are perfume and cosmetics, wine and spirit, electronics, luxury goods, food, confectionery, & catering, tobacco, others. The wine travel retail refers to the alcoholic fermented juice of fresh grapes used as a beverage.

Wine spirit also called ethanol or ethyl alcohol a colorless flammable liquid, the active principle of intoxicating drinks, produced by the fermentation of sugars, ESP glucose, and used as a solvent and in the manufacture of organic chemicals. The different channels include airports, cruise lines, border, down town and hotel shops, railway stations and others and involve several end users such as children (less than 18 years old), youth (18-30 years old), middle-aged (18-59 years old), the elder (greater than 60 years old).

The travel retail market research report is one of a series of new reports that provides travel retail market statistics, including travel retail industry global market size, regional shares, competitors with a travel retail market share, detailed travel retail market segments, market trends and opportunities, and any further data you may need to thrive in the travel retail industry. This travel retail market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Technological Advancement is a key trend gaining popularity in the travel retail market. Technological advancement is a discovery of knowledge that advances technology. Travel retailers are using data insights such as advanced knowledge about the arrival and destination of the customer, and to cater to specific needs. Staff and retail displays are designed to accommodate incoming passenger language and cultural sensitivity so that the right products are plainly visible to the right customers.

Asia-Pacific was the largest region in the travel retail market in 2022. The regions covered in the travel retail market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the travel retail market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The growing number of international travellers is expected to propel the growth of the travel retail market going forward. Mass tourism and package holidays have opened markets to large numbers of individuals. Travel retail helps the international travellers to book their tickets at any place by using internet and it helps in making their journey easier, as a result increase in international travels will increase the demand for travel retail.

For instance, according to TSA (Transportation Security Administration, USA), In July 2021, there are 6.5 million more daily travelers than in June 2021. Therefore, the increase in international travelers is expected to drive the growth of the travel retail market.

The travel retail market includes revenues earned by entities by taking part in sales activities to meet the expectations of the customers while they are travelling. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Key Topics Covered:

1. Executive Summary

2. Travel Retail Market Characteristics

3. Travel Retail Market Trends And Strategies

4. Travel Retail Market - Macro Economic Scenario

4.1 COVID-19 Impact On Travel Retail Market

4.2 Ukraine-Russia War Impact On Travel Retail Market

4.3 Impact Of High Inflation On Travel Retail Market

5. Travel Retail Market Size And Growth

5.1. Global Travel Retail Historic Market, 2017-2022, $ Billion

5.1.1. Drivers Of The Market

5.1.2. Restraints On The Market

5.2. Global Travel Retail Forecast Market, 2022-2027F, 2032F, $ Billion

5.2.1. Drivers Of The Market

5.2.2. Restraints On the Market

6. Travel Retail Market Segmentation

6.1. Global Travel Retail Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

Perfume and Cosmetics
Wine and Spirit
Electronics
Luxury Goods
Food, Confectionery, and Catering
Tobacco
Other Products

6.2. Global Travel Retail Market, Segmentation By Channel, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

Airports
Cruise Lines
Border, Down Town and Hotel Shops
Railway Stations
Other Channels

6.3. Global Travel Retail Market, Segmentation By End Users, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

Children (less than 18 years old)
Youth (18-30 years old)
Middle-aged (18-59 years old)
The Elder (greater than 60 years old)

7. Travel Retail Market Regional And Country Analysis

7.1. Global Travel Retail Market, Split By Region, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

7.2. Global Travel Retail Market, Split By Country, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

For more information about this report visit https://www.researchandmarkets.com/r/hn0hzz

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