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DUBLIN , April 24, 2023 /PRNewswire/ — The “Travel Retail Global Market Report 2023” report has been added here. ResearchAndMarkets.com’s Providing.
This report provides strategists, marketers and senior management with critical information they need to assess the market.
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Global travel retail market It will grow from $68.91 billion in 2022 to $79.05 billion in 2023 at a compound annual growth rate (CAGR) of 14.7 percent. The travel retail market is expected to grow to USD 126.48 billion by 2027 at a CAGR of 12.5%.
Major players in the travel retail market are Air Rianta International, China Duty Free Group Co., Ltd., Dufry AG, Duty free americas Inc., Gebr. Heinemann se & co.kg, King power international, Lotte Hotel, Lagardere sca, The shilla duty free, DFS Group, Flemingo International, The Naunace Group, Dufry, Dubai Duty Free, James Richardson Group, Lotte and Qatar Duty Free.
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Reasons to buy
- Get a truly global perspective on this market with the most comprehensive report covering 50+ geographies.
- Understand how the market has been affected by Covid-19 and how it is responding as the impact of the virus subsides.
- Assess the Russia – Ukraine conflict’s direct and indirect impact on agricultural, energy and mineral supply and markets.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies based on local data and analysis.
- Identify growth areas for investment.
- Outsmart competitors using forecasting data and drivers and trends shaping the market.
- Understand customers based on the latest market share.
- Benchmark performance against key competitors.
- Ideal to support your internal and external presentations with reliable high quality data and analysis
Travel retail mainly refers to business that revolves around airports, airplanes, cruise ships and downtown duty-free stores. Travel retail products are sold in the travel environment where taxes and duties are payable, even during international travel. It is also called the act of handling consumers while they are in transit.
Major product categories in the travel retail market are perfumes and cosmetics, wine and spirits, electronics, luxury goods, food, confectionery and caterers, tobacco and others. Wine travel retail refers to fresh grape juice that contains alcohol for drinking purposes.
Spirit of wine is called ethanol or ethyl alcohol, a colorless flammable liquid, the active principle of alcoholic beverages, it is used in the fermentation of sugar, ESP glucose, and as a solvent and in the production of organic chemicals. Different channels include airports, cruise lines, borders, city and hotel shops, railway stations and others and target groups such as children (under 18 years old), youth (18-30 years old), middle-aged (18-30 years old involve multiple users such as 18-59 years old), elderly (over 60 years old).
The Travel Retail Market Research Report is one of a series of reports that provide travel retail market statistics, travel retail industry global market size, regional shares, travel retail market share competitors, detailed travel retail market segments, market trends and opportunities, and what you need to thrive in the travel retail industry. Any additional information. This travel retail market research report provides an in-depth analysis of the current and future state of the industry and provides a comprehensive view of everything you need.
Technological advancement is a key trend gaining popularity in the travel retail market. Technological progress is the discovery of knowledge that advances technology. Travel retailers are using data insights to provide advanced knowledge and specific needs, such as the customer’s arrival and destination. Staff and retail displays are designed to accommodate passenger language and cultural sensibilities so that the right products are clearly visible to the right customers.
In the year Asia-Pacific was the largest region in the travel retail market by 2022. The regions covered in the travel retail market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Countries covered in Travel Retail Market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The growing travel retail market for international travelers is expected to propel the growth going forward. Mass tourism and package holidays have opened up a market for many individuals. Travel retail helps international travelers to book their tickets anywhere using the internet and helps to make their travel easier.
For example, according to TSA (Transportation Security Administration, USA), in July 2021, there are 6.5 million more day travelers than in June 2021. Therefore, the increase in international travelers is expected to boost the growth of the travel retail market.
The travel retail market includes revenues generated by organizations engaging in sales activities to meet their customers’ expectations while traveling. The market price includes the price of related goods sold by the service provider or included in the service. Only goods and services traded between firms or sold to end consumers are included.
Market value is the income that enterprises receive from the sale of goods and/or services in a specified market and geography through sales, grants, or gifts (unless denominated in US dollars).
Revenues for a given geography are the costs of consumption generated by firms in a given geography in a market, regardless of where they are produced. It does not include revenue from resale through the supply chain as part of the supply chain or as part of other products.
Key topics covered:
1. Executive summary
2. Characteristics of the travel retail market
3. Travel retail market trends and strategies
4. Travel Retail Market – Macroeconomics
4.1 The impact of COVID-19 on the travel retail market
4.2 The impact of the Ukraine-Russia war on the travel retail market
4.3 The impact of high inflation on the travel retail market
5. Size and growth of the travel retail market
5.1. Global travel retail historical market, 2017-2022, $ billion
5.1.1. Market drivers
5.1.2. Restrictions on the market
5.2. Global Travel Retail Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Market drivers
5.2.2. Restrictions on the market
6. Segmentation of the travel retail market
6.1. Global Travel Retail Market, Segment by Product Type, Historical and Forecast, 2017-2022, 2027F, 2032F, $ Billion
- Perfume and cosmetics
- Wine and spirits
- Electronics
- Luxury goods
- Food, sweets and cooking
- Tobacco
- Other products
6.2. Global Travel Retail Market, Segment by Channel, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
- Airports
- Shipping lines
- Border, downtown and hotel shops
- Railway stations
- Other channels
6.3. Global Travel Retail Market, Segment by End Users, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
- Children (under 18 years)
- Young (18-30 years)
- Middle (18-59 years)
- Elderly (over 60 years old)
7. Travel Retail Market Regional and Country Analysis
7.1. Global travel retail market, by region, historical and forecast, 2017-2022, 2027F, 2032F, $ billion
7.2. Global travel retail market, by country, historical and forecast, 2017-2022, 2027F, 2032F, $ billion
For more information about this report, visit https://www.researchandmarkets.com/r/hn0hzz
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