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Classified in: Tourism and vacations, Covid-19 virus
Subject: MRR

Duty-free Retailing Market to Record a CAGR of 8.56%, Growing International Tourism to Drive Growth - Technavio


NEW YORK, Aug. 18, 2022 /PRNewswire/ -- The growth of the duty-free retailing market will be driven by factors such as growing international tourism. The number of inbound and outbound tourists has grown significantly, which has increased visitors to airports across the world. The rise in the number of foreign and domestic trips for business, leisure, and sports is fueling this growth. The US, Mexico, Canada, China, Thailand, and Malaysia are some of the highest revenue-generating countries in the tourism sector. Therefore, the rising number of international tourist arrivals across the world is expected to contribute to the increase in footfalls at duty-free stores in airports. This, in turn, will drive sales in the global duty-free retailing market.

The duty-free retailing market size is expected to grow by USD 6.04 bn from 2021 to 2026. In addition, the growth momentum of the market will accelerate at a CAGR of 8.56% during the forecast period.

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Duty-free Retailing Market: Vendor Analysis

Aer Rianta International, Changi Airport Group Singapore Pte. Ltd., China Duty Free Group Co. Ltd., Delhi Duty Free Services Pvt. Ltd., DFS Group Ltd., Dubai Duty Free, Dufry AG, Duty Free Americas Inc., Flemingo International, Gebr. Heinemann SE and Co. KG, Hyundai Department Store Group Co. Ltd., Japan Airport Terminal Co. Ltd., King Power Group, Lagardere SA, Lotte Corp., Mumbai Duty Free, Samsung Electronics Co. Ltd., and SHINSEGAE INTERNATIONAL, among others, are the main players in the market. The key offerings of some of these vendors are listed below:

This report provides a full list of key vendors, their strategies, and the latest developments. Buy Now to gain access to exclusive information about vendors

Duty-free Retailing Market: Segmentation Analysis

This market research report segments the duty-free retailing market by product (fashion apparel and accessories, cosmetics and perfumes, tobacco and alcoholic beverages, and confectionery and fine foods), distribution channel (airports and others), and geography (APAC, Europe, North America, the Middle East and Africa, and South America).

APAC leads the duty-free retailing market and will account for 44% of the market's growth during the forecast period. The growth of this region is attributed to factors such as the growing travel and tourism sector and the increasing number of new international connections. Moreover, market growth in this region will be faster than the growth of the market in other regions. China and Japan are the key countries for the duty-free retailing market in APAC.

Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. Download FREE PDF sample report

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Duty-free Retailing Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 8.56%

Market growth 2022-2026

USD 6.04 billion

Market structure

Fragmented

YoY growth (%)

8.29

Regional analysis

APAC, Europe, North America, Middle East and Africa, and South America

Performing market contribution

APAC at 44%

Key consumer countries

US, China, Japan, France, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Aer Rianta International, Changi Airport Group Singapore Pte. Ltd., China Duty Free Group Co. Ltd., Delhi Duty Free Services Pvt. Ltd., DFS Group Ltd., Dubai Duty Free, Dufry AG, Duty Free Americas Inc., Flemingo International, Gebr. Heinemann SE and Co. KG, Hyundai Department Store Group Co. Ltd., Japan Airport Terminal Co. Ltd., King Power Group, Lagardere SA, Lotte Corp., Mumbai Duty Free, Samsung Electronics Co. Ltd., and SHINSEGAE INTERNATIONAL

Market dynamics

Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Browse Consumer Discretionary Market Reports

Table of Contents

Executive Summary

Market Landscape

Market Sizing

Five Forces Analysis

Market Segmentation by Product

Market Segmentation by Distribution channel

Customer landscape

Geographic Landscape

Vendor Landscape

Vendor Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio


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