Travel Retail Market report provides a detailed analysis of global market size, regional and country-level market size, segmentation market growth, market share, competitive Landscape, sales analysis, impact of domestic and global market players, value chain optimization, trade regulations, recent developments, opportunities analysis, strategic market growth analysis, product launches, area marketplace expanding, and technological innovations.
Global travel retail market is expected to rise to an estimated value of USD 146.53 billion by 2026, registering a substantial CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to the growing availability of these retail shops in the different applications such as hotels, greater exposure in airports and waterways.
Travel retail also known as duty free is a sales process consisting of commercialization of goods pertaining to the different product categories. This sales channel consists of goods that have not had the taxation, excise applied on their sale price and for sales to customers that are travellers. The taxation depends on product variation and also on the variety of regions that it is being sold in. The goods available are also limited to a certain quantity per individual.
Under the COVID-19 outbreak analysis, the Travel Retail Market study investigates the value chain, provincial government strategy, fare control, import, and future impact on the business. It further elucidates about venture rivalry with an example, market status, potential hindrances of the market, points of interest and industry improvement patterns, macroeconomic approaches, territorial attributes, and production details. Travel Retail Market analysis includes top to bottom investigation on how the COVID-19 will affect this industry with potential changes.
Market Drivers and Restraints:
Increasing levels of disposable income of individuals resulting in greater population base travelling cross-country and engaged in availing these particular services; this factor is expected to drive the growth of the market
Surge in adoption of travel & tourism services is expected to drive the growth of the market
Significant rush in the levels of urbanization of the world is expected to augment growth in the market
Better facilitation for travelling which is a result of digitalization in airports inducing a rise in the population travelling across different regions is also expected to foster growth of the market
Concerns regarding the presence of regulations for sales of particular goods only in the airport sales channel is expected to hinder the growth of the market
Large costs associated with the operations of these retail shops reducing the profit margins/ratio of sales; this factor is expected to restrain the growth of the market
Key Players: Global Travel Retail Market
Aer Rianta International; DFS Group Ltd.; KING POWER International; DubaiDutyFree.com; China Duty Free Group Co.,Ltd.; Gebr. Heinemann SE & Co. KG; Dufry; Duty Free Americas, Inc.; Lotte Duty Free; Lagardère Travel Retail; THE SHILLA DUTY FREE; Flemingo; JR/Group; Qatar Duty Free; 3Sixty Duty Free, among others
MAJOR TOC OF THE REPORT
Chapter One: Travel Retail Market Overview
Chapter Two: Manufacturers Profiles
Chapter Three: Global Travel Retail Market Competition, by Players
Chapter Four: Global Travel Retail Market Size by Regions
Chapter Five: Global Travel Retail Market Revenue by Countries
Chapter Six: Global Travel Retail Market Revenue by Type
Chapter Seven: Global Travel Retail Market Revenue by Sales Channel
Chapter Eight: Global Travel Retail Market Revenue by Geography
Key Developments in the Market:
In December 2018, Lotte Duty Free announced that they had completed the acquisition of JR/Group’s duty free business for the Oceania region, specifically for the Australia & New Zealand region. The acquisition is a complement to their strategy of establishing themselves as the leader in travel retail for the region in the coming years. The acquisition includes four stores in the Australia region and one store in New Zealand.
In November 2018, Lagardère Travel Retail announced that they had completed the acquisition of Hojeij Branded Foods. This acquisition will reportedly expand their capabilities associated with travel retail for the North American region, specifically for the travel foodservice operations. The acquisition was valued at approximately USD 330 million in cash
Key Questions Answered in Report:
What is the key to the Travel Retail Market?
What will the Travel Retail Market Demand and what will be Growth?
What are the latest opportunities for Travel Retail Market in the future?
What are the strengths of the key players?
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