DUBLIN--(BUSINESS WIRE)--The "Duty Free Retailing Market to 2027 - Global Analysis and Forecasts by Product Type; Application" report has been added to ResearchAndMarkets.com's offering.
The global duty free retailing market revenue from 2019 to 2027. The global duty free retailing market accounted for US$ 77.87 billion in 2018 and is anticipated to grow at a CAGR of 8.44% to reach US$ 155.3 billion by 2027.
Duty-free retailing offers products to international travelers, thus is a substantial source of income and offers numerous marketing opportunities.
The growth of the travel & tourism industry is one of the key factors bolstering the growth of the duty-free retailing market. Duty-free retailing offers temporary spaces that provide extra time to travelers after security check-in and enable them to get indulgent with the ambiance as well as the experience of shopping for international duty-free products.
Presently, vendors in the duty-free retailing market are focusing on digitalizing the retail process and adoption of advanced technologies such as AR and VR for offering enhanced customer experience, which may boost sales. Moreover, the rising demand for duty-free luxury and premium brands of several products is providing opportunities to the duty-free retailing market.
In terms of geography, APAC held around half of the duty-free retailing market share in 2018, and it is anticipated to witness the highest CAGR during the forecast period. The growth in the APAC region is attributed to the growing number of new air routes coupled with the commencement of LCCs. Moreover, the rise in the purchasing power due to growth in the middle-class population across developing economies is expected to offer lucrative growth opportunities to the market players.
Europe is estimated to be the second-largest market in 2018. It is due to the region's rich heritage as well as its position as a significant tourist region. Also, the presence of retail chains offering luxury and premium brands is another critical factor influencing the market growth in European. Key players in European have adopted the expansion strategy to stay competitive in the market. For instance, Dufry opened a new duty-free store located at Norwich airport to enhance passenger communication in 2018. Also, in 2017, Dufry's subsidiary Hellenic Duty-Free Shops signed an agreement with Fraport Greece to operate for 30 years in order to offer retail services at 14 Greek airports. However, in 2019, KLM Royal Dutch announced to stop the sale of duty-free items on its European flights. It may hamper the on-board aircraft segment growth in the coming years.
Key Topics Covered
1. Introduction
1.1 Scope of the Study
1.2 Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Duty Free Retailing Market Landscape
4.1 Market Overview
4.2 Ecosystem Analysis
4.3 PEST Analysis
4.3.1 North America - PEST Analysis
4.3.2 Europe - PEST Analysis
4.3.3 Asia-Pacific - PEST Analysis
4.3.4 Middle East & Africa - PEST Analysis
4.3.5 South America - PEST Analysis
4.4 Premium Insights
4.4.1 Segmental Revenue by Operator
4.4.1.1 LVMH
4.4.1.2 Dufry AG
4.4.1.3 Dubai Duty Free
4.4.1.4 Gebr Heinemann
4.4.1.5 The Shilla Duty Free
4.4.2 Segmental Revenue by Operator
4.4.2.1 Insights on Impact of Natural or Biological Calamities on Duty Free Retailing Market and its Recovery
4.4.2.1.1 Coronavirus
4.4.2.1.2 Spread of the Zika virus beyond the Americas
5. Duty Free Retailing Market - Key Industry Dynamics
5.1 Key Market Drivers
5.1.1 Increasing Number of Air Travelers is Fuelling the Duty-Free Retailing Market
5.1.2 Growth in Travel & Tourism Industry is Boosting the Duty-Free Retailing Market
5.2 Restraints
5.2.1 Crisis and Disasters can Significantly Affect the Duty-Free Retailing Market
5.3 Opportunities
5.3.1 Enhancement in Customer Experience Offers Lucrative Opportunities to Vendors
5.4 Trends
5.4.1 Moving Trend from Desktop to Mobile, Voice, and Bots
5.5 Impact analysis of Drivers and restraints
6. Duty Free Retailing Market - Global Market Analysis
6.1 Global Duty Free Retailing Market, Revenue and Forecast to 2027 (US$ Bn)
6.2 Market Positioning - Top Five Players
7. Duty-Free Retailing Market - By Product Type
7.1 Overview
7.2 Duty-Free Retailing Market Breakdown, by Product Type (2018 and 2027)
7.3 Cosmetics and Personal Care
7.4 Alcohol, Wine, and Spirits
7.5 Tobacco and Cigarettes
7.6 Fashion and Accessories
7.7 Confectionery and Food Stuff
7.8 Others
8. Duty-Free Retailing Market - By Application
8.1 Overview
8.2 Duty-Free Retailing Market Breakdown, by Application (2018 and 2027)
8.3 Airports
8.4 On-board Aircraft
8.5 Seaports
8.6 Others
9. Duty Free Retail Market - Geographic Analysis
9.1 Overview
9.2 North America: Duty-free retail market
9.3 Europe Duty-free retail market, Revenue and Forecast to 2027
9.4 APAC: Duty-free retail market, Revenue and Forecast to 2027
9.5 MEA: Duty-free retail market, Revenue and Forecast to 2027
9.6 SAM: Duty-free retail market, Revenue and Forecast to 2027
10. Duty Free Retailing Market - Industry Landscape
10.1 Overview
10.2 Market Initiative
10.3 New Development
11. Duty Free Retailing Market - Company Profiles
11.1 Aer Rianta International (ARI)
11.2 China Duty Free Group Co. Ltd.
11.3 Dubai Duty Free
11.4 Duty Free Americas
11.5 Gebr. Heinemann
11.6 King Power International Group
11.7 Lotte Duty Free
11.8 Shinsegae Duty Free
11.9 The Shilla Duty Free
11.10 LVMH
11.11 Lagardere Travel Retail
11.12 Hyundai Duty Free
11.13 DUFRY AG
For more information about this report visit https://www.researchandmarkets.com/r/g8p9m2
