SAN FRANCISCO, January 17, 2019 /PRNewswire/ --
The global travel retail market size is expected to reach USD 128.80 billion by 2025, according to a new report by Grand View Research, Inc. The market is projected to expand at a strong CAGR of 8.7% over the forecast years. Rapidly expanding retail and travel and tourism industry along with increasing per capita income levels is expected to drive the market growth. Different retail channels help in improving the retail experience of the passengers while contributing to economic growth.
The airport retail segment is expected to gain traction over the forecast period and is expected to reach over USD 91.75 billion by 2025. On the basis of products, perfume & cosmetics segment held a significant share of the market in 2017. Driven by the rising demand for branded cosmetics, such as makeup and skin care products, which are available discounted rates at the duty-free stores, the segment is projected to expand further.
The travel retail industry is focusing on enhancing customer experience and use data to provide customers an integrated experience. For example, Kuala Lumpur International Airport has integrated big data platform deployed for its KLIA2 terminal. This platform will extract passenger's real-time location throughout the airport for real-time status check, travel plans, and so on.
Browse full research report with TOC on "Travel Retail Market Size, Share & Trends Analysis Report By Channel (Down Town & Hotel Shops, Airports), By Product (Wine & Spirit, Fashion & Accessories, Perfume & Cosmetics), And Segment Forecasts, 2018 - 2025" at: https://www.grandviewresearch.com/industry-analysis/travel-retail-market
Further Key Findings From the Report Suggest:
- The global market accounted for USD 67.3 billion in 2017 and is expected to register a CAGR of 8.7% from 2018 to 2025
- Increasing number of international travelers across the globe is expected to boost the market growth
- The perfume & cosmetics segment is anticipated to witness the highest CAGR of 9.9% followed by the fashion & accessories segment over the forecast period
- Asia Pacific is anticipated to be the fastest-growing regional market due to increasing disposal income levels and expanding travel industry in the region
- Key companies in the global travel retail market include Shilla DFS, Lagardre Group, Lotte Corp., Heinemann, and Dufry AG
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Grand View Research has segmented the global travel retail market on the basis product, channel, and region:
- Travel Retail Product Outlook (Revenue, USD Million, 2015 - 2025)
- Perfume & Cosmetics
- Confectionery & Fine Food
- Wine & Spirit
- Fashion & Accessories
- Travel Retail Channel Outlook (Revenue, USD Million, 2015 - 2025)
- Cruise Lines
- Border, Down Town & Hotel Shops
- Railway Stations & Others
- Travel Retail Regional Outlook (Revenue, USD Million, 2015 - 2025)
- North America
- Asia Pacific
- Latin America
- North America
Explore the BI enabled intuitive market research database, Grand View Compass, by Grand View Research, Inc.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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SOURCE Grand View Research, Inc.