The Infinium Global Research analyzes the “Travel Retail Market (Product - Wine & Spirit, Luxury Goods, Perfume & Cosmetics, Electronics, Confectionery & Catering, and Others; Distribution Channels - Waterways, Airways, Railway Stations, Downtown and Hotel Shops, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025”. The global travel retail market is projected to grow at a CAGR of 10.15%% over the forecast period of 2019-2025.
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Travel Retail Market: Industry Insight
Travel retail term refers to the sales made in travel spaces such as airports and airlines. The customer requires proof of travel to approach the commercial area. Travel retail market has increased the demand for cosmetics, electronic products, food items and clothes. As travelling has become more affordable the customers are getting fascinated towards the retail channel. Further, modifications experienced by travel retail spaces have empowered travel retail brands to offer unique shopping experiences for their consumers.
Travel Retail Market: Drivers and Restraints
Growth in a number of international travellers is predicted to be one of the major factors driving the travel retail market. As per the World Tourism Organization, international tourist arrivals have grown 7 percent in 2017. Further, the growing income of individuals, changing the standard of living, upsurge in urbanization and improvement in economic conditions are also some of the factors responsible for the growth of the travel retail market. Addition to this, increasing demand for retail chains which offers premium and luxury brands of several products is boosting the growth for the market. Passengers travelling internationally for their vacations, after having passed check-ins and all security controls, are left with a lot of spare time which, they utilize by browsing and shopping at the airport. Moreover, travel retails generate more visibility for their products, that draws the attention of new customers and increases brand loyalty of their existing consumers. All these factors are responsible for the growth of the travel retail market. But on the other side, the high price of the products as compared to the home country and strict government rules relating to airport retailing is likely to hamper the growth of the travel retail market. However, development in emerging countries is expected to create a growth opportunity in the travel retail market during the upcoming years.
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Travel Retail Market: Segmentation
The report on the global Travel Retail market is bifurcated into products and distribution channels. Based on the products market is divided into Wine & Spirit, Luxury Goods, Perfume & Cosmetics, Electronics, Confectionery & Catering, and others. Among these luxury goods is anticipated to dominate the market owing to growth in income and adoption of premium lifestyle. Further, based on distribution channels the market is classified into Waterways, Airways, Railway Stations, Downtown & Hotel Shops and others.
Travel Retail Market: Regional Insight
As per the geographies, Europe region is dominating the growth of travel retail market followed by Asia Pacific region. In Europe region owing to its stronger base of luxury cosmetic products and brands such as H&M from Sweden and LVMH from France, that holds the noteworthy share in the luxury perfumes and cosmetic sector makes it the second-largest travel retail market. Asia Pacific region is expected to be the fastest-growing region owing to the development of the tourism industry, increase in disposable income, improvement in lifestyle and standard of living drives the growth for travel retail market in the Asia Pacific region. In Europe region owing to its stronger base of luxury cosmetic products and brands such as H&M from Sweden and LVMH from France, that holds the noteworthy share in the luxury perfumes and cosmetic sector makes it the second-largest travel retail market.
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Travel Retail Market: Competitive Analysis
Some of the key players in travel retail market are Dufry AG, Aer Rianta International, DFS Group Ltd., Dubai Duty Free, Duty Free Americas, Inc., Flemingo Internationa, KING POWER International Group, Lagardère, Lotte Corporation, and Qatar Duty Free among others.
Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the travel retail.
- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
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