Travel Retail Global Market Report 2024

Description

“Travel Retail Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on travel retail market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
Create regional and country strategies on the basis of local data and analysis.
Identify growth segments for investment.
Outperform competitors using forecast data and the drivers and trends shaping the market.
Understand customers based on the latest market shares.
Benchmark performance against key competitors.
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Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for travel retail? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The travel retail market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Product Type: Perfume and Cosmetics; Wine and Spirit; Electronics; Luxury Goods; Food, Confectionery, and Catering; Tobacco; Other Products
2) By Channel: Airports; Cruise Lines; Border, Down Town and Hotel Shops; Railway Stations; Other Channels
3) By End Users: Children (less than 18 years old); Youth (18-30 years old); Middle-aged (18-59 years old); The Elder (greater than 60 years old)
Companies Mentioned: Aer Rianta International; China Duty Free Group Co Ltd.; Dufry AG; Duty Free Americas Inc.; Gebr Heinemann SE & Co KG
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Travel retail, often centered around airports, airplanes, cruise ships, and downtown duty-free stores, involves the sale of products in environments where taxes and duties are applicable, even during international travel. It is essentially the business of serving shoppers while they are in transit.

The primary product categories in the travel retail market include perfume and cosmetics, wine and spirits, electronics, luxury goods, food, confectionery, catering, tobacco, and others. In this context, wine in travel retail denotes the alcoholic beverage produced from the fermented juice of fresh grapes. Wine spirit, also known as ethanol or ethyl alcohol, is a colorless flammable liquid and the active component in intoxicating drinks, generated through the fermentation of sugars, especially glucose, and utilized as a solvent and in the production of organic chemicals. Various channels are employed in travel retail, including airports, cruise lines, border points, downtown and hotel shops, railway stations, and others. Additionally, the end users of travel retail products span different age groups, including children (less than 18 years old), youth (18-30 years old), middle-aged individuals (18-59 years old), and the elderly (greater than 60 years old).

The travel retail market research report is one of a series of new reports from The Business Research Company that provides travel retail market statistics, including travel retail industry global market size, regional shares, competitors with a travel retail market share, detailed travel retail market segments, market trends and opportunities, and any further data you may need to thrive in the travel retail industry. This travel retail market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The travel retail market size has grown rapidly in recent years. It will grow from $79. 24 billion in 2023 to $90. 41 billion in 2024 at a compound annual growth rate (CAGR) of 14. 1%. The growth observed in the historical period can be attributed to factors such as increased disposable income, a rise in global urbanization, the expansion of the leisure and tourism industry, the development of airports and other travel hubs, and a growing demand for luxury goods.

The travel retail market size is expected to see rapid growth in the next few years. It will grow to $150. 38 billion in 2028 at a compound annual growth rate (CAGR) of 13. 6%. The anticipated growth in the forecast period can be attributed to factors such as increasing globalization, a rising demand for personalized shopping experiences, the growing utilization of technology to enhance customer interactions, an increased demand for sustainable and eco-friendly products, and a growing preference for online travel retail. Noteworthy trends expected in this period encompass the integration of advanced technology, collaborative efforts between travel retailers and travel service providers, the incorporation of augmented reality (AR) and virtual reality (VR), the introduction of contactless and frictionless payment methods, and the application of data analytics for personalized marketing and enhanced customer engagement.

The anticipated increase in the number of international travelers is set to drive the growth of the travel retail market. The advent of mass tourism and package holidays has exposed markets to a larger influx of individuals. Travel retail facilitates the booking of tickets for international travelers from any location using the internet, streamlining their journey and contributing to the growing demand for travel retail. For instance, the Transportation Security Administration (TSA) in the USA reported a 6. 5 million increase in daily travelers from June to July 2021. Therefore, the surge in international travelers is expected to be a catalyst for the growth of the travel retail market.

The expected rise in demand for transportation is poised to propel the expansion of the travel retail market. Transportation, involving the movement of individuals and cargo across various modes, is experiencing increased demand as people seek efficient travel experiences. Travel retail establishments, encompassing airports, train stations, and highways, are anticipated to enhance their offerings of duty-free shopping, dining, and entertainment options. In 2021, the United States saw a 9. 2% increase in transportation demand, as reported by the Bureau of Transportation. This marked the most significant year-over-year surge. Therefore, the growing demand for transport is foreseen to drive the growth of the travel retail market.

Technological advancement is a prominent trend gaining momentum in the travel retail market. It involves the discovery of knowledge that advances technology. Travel retailers are leveraging data insights, including customer arrival and destination information, to cater to specific needs. Accommodating language and cultural sensitivity, staff and retail displays are designed to ensure that the right products are prominently visible to the correct customers. For example, Hudson Group, a US-based retail company, launched a Just Walk Out Technology-enabled Amazon One in December 2021, allowing shoppers to pay using their unique palm print.

Major companies in the travel retail market are responding to the growing demand by introducing new travel retail stores. These stores offer a diverse range of products, including luxury goods, electronics, fashion, and local merchandise, targeting both domestic and international travelers. Bentley Leathers Inc., a Canada-based retail company, unveiled the 'Tracker' retail store concept in November 2021, specifically targeting airports and other travel hubs. The store provides a wide array of travel items, such as travel bags, luggage, and accessories.

In July 2022, Dufry AG, a Switzerland-based travel company, acquired Autogrill SpA for an undisclosed amount. This merger created a new entity employing around 60,000 people, serving 2. 3 billion travelers in over 5,500 outlets across 1,200 airport and other locations in more than 75 countries. The acquisition of Autogrill has enabled Dufry to expand its service portfolio, enhance bargaining power, generate cost synergies, and achieve positive financial results and an improved credit rating.

Major companies operating in the in the travel retail market report are Aer Rianta International, China Duty Free Group Co Ltd., Dufry AG, Duty Free Americas Inc., Gebr Heinemann SE & Co KG, King Power International Group, Lotte Hotel & Resorts, Lagardere SCA, The Shilla Duty Free, DFS Group, Flemingo International, The Naunace Group, Dubai Duty Free, James Richardson Group, Lotte Duty Free, Qatar Duty Free, Heinemann, LS Travel Retail, Incheon International Airport Corporation, Singapore Changi Airport Terminal Services, Kappe Schiphol, China Duty Free Group, James Richardson Corporation, RegStaer Group, ARI (Aer Rianta International), Baltona Duty Free, World Duty Free Group, Nuance Group AG, SSP Group Limited, Wenzhou Department Store Group Co Ltd., King Power (Cambodia) Co Ltd.

Asia-Pacific was the largest region in the travel retail market in 2023. The regions covered in the travel retail market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the travel retail market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The travel retail market includes revenues earned by entities by taking part in sales activities to meet the expectations of the customers while they are travelling. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r10632

1. Executive Summary

2. Travel Retail Market Characteristics

3. Travel Retail Market Trends And Strategies

4. Travel Retail Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Travel Retail Market Size and Growth

5.1. Global Travel Retail Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Travel Retail Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Travel Retail Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Travel Retail Market Segmentation

6.1. Global Travel Retail Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Perfume and Cosmetics
Wine and Spirit
Electronics
Luxury Goods
Food, Confectionery, and Catering
Tobacco
Other Products
6.2. Global Travel Retail Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Airports
Cruise Lines
Border, Down Town and Hotel Shops
Railway Stations
Other Channels
6.3. Global Travel Retail Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Children (less than 18 years old)
Youth (18-30 years old)
Middle-aged (18-59 years old)
The Elder (greater than 60 years old)

7. Travel Retail Market Regional And Country Analysis

7.1. Global Travel Retail Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Travel Retail Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Travel Retail Market

8.1. Asia-Pacific Travel Retail Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Travel Retail Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Travel Retail Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8. 4. Asia-Pacific Travel Retail Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Travel Retail Market

9.1. China Travel Retail Market Overview
9.2. China Travel Retail Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Travel Retail Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9. 4. China Travel Retail Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Travel Retail Market

10.1. India Travel Retail Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Travel Retail Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Travel Retail Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Travel Retail Market

11.1. Japan Travel Retail Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.2. Japan Travel Retail Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Travel Retail Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Travel Retail Market

12.1. Australia Travel Retail Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Travel Retail Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Travel Retail Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Travel Retail Market

13.1. Indonesia Travel Retail Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Travel Retail Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Travel Retail Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Travel Retail Market

14.1. South Korea Travel Retail Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.2. South Korea Travel Retail Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Travel Retail Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Travel Retail Market

15.1. Western Europe Travel Retail Market Overview
15.2. Western Europe Travel Retail Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Travel Retail Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15. 4. Western Europe Travel Retail Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Travel Retail Market

16.1. UK Travel Retail Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Travel Retail Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Travel Retail Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Travel Retail Market

17.1. Germany Travel Retail Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Travel Retail Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Travel Retail Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Travel Retail Market

18. 5. France Travel Retail Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18. 6. France Travel Retail Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18. 7. France Travel Retail Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Travel Retail Market

19. 9. Italy Travel Retail Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.10. Italy Travel Retail Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.11. Italy Travel Retail Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Travel Retail Market

20.13. Spain Travel Retail Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.14. Spain Travel Retail Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.15. Spain Travel Retail Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Travel Retail Market

21.1. Eastern Europe Travel Retail Market Overview
21.2. Eastern Europe Travel Retail Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Travel Retail Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21. 4. Eastern Europe Travel Retail Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Travel Retail Market

22.1. Russia Travel Retail Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Travel Retail Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Travel Retail Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Travel Retail Market

23.1. North America Travel Retail Market Overview
23.2. North America Travel Retail Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Travel Retail Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23. 4. North America Travel Retail Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Travel Retail Market

24.1. USA Travel Retail Market Overview
24.2. USA Travel Retail Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Travel Retail Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24. 4. USA Travel Retail Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Travel Retail Market

25.1. Canada Travel Retail Market Overview
25.2. Canada Travel Retail Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Travel Retail Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25. 4. Canada Travel Retail Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Travel Retail Market

26.1. South America Travel Retail Market Overview
26.2. South America Travel Retail Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Travel Retail Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26. 4. South America Travel Retail Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Travel Retail Market

27.1. Brazil Travel Retail Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Travel Retail Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Travel Retail Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Travel Retail Market

28.1. Middle East Travel Retail Market Overview
28.2. Middle East Travel Retail Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Travel Retail Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28. 4. Middle East Travel Retail Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Travel Retail Market

29.1. Africa Travel Retail Market Overview
29.2. Africa Travel Retail Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Travel Retail Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29. 4. Africa Travel Retail Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Travel Retail Market Competitive Landscape And Company Profiles

30.1. Travel Retail Market Competitive Landscape
30.2. Travel Retail Market Company Profiles
- 30.2.1. Aer Rianta International
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1. 4. Financial Performance
- 30.2.2. China Duty Free Group Co Ltd.
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2. 4. Financial Performance
- 30.2.3. Dufry AG
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3. 4. Financial Performance
- 30.2. 4. Duty Free Americas Inc.
  - 30.2. 4.1. Overview
  - 30.2. 4.2. Products and Services
  - 30.2. 4.3. Strategy
  - 30.2. 4. 4. Financial Performance
- 30.2. 5. Gebr Heinemann SE & Co KG
  - 30.2. 5.1. Overview
  - 30.2. 5.2. Products and Services
  - 30.2. 5.3. Strategy
  - 30.2. 5. 4. Financial Performance

31. Global Travel Retail Market Competitive Benchmarking

32. Global Travel Retail Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Travel Retail Market

34. Travel Retail Market Future Outlook and Potential Analysis

34.1 Travel Retail Market In 2028 - Countries Offering Most New Opportunities
34.2 Travel Retail Market In 2028 - Segments Offering Most New Opportunities
34. 3 Travel Retail Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35. 4. Research Inquiries
35. 5. The Business Research Company
35. 6. Copyright And Disclaimer