City Duty Free Retailing Market Trends and Forecast
The future of the global city duty free retailing market looks promising with opportunities in the cosmetics & personal care product, alcohol, wine and spirit, tobacco & cigarette, fashion & luxury good, and confectionery & food stuff markets. The global city duty free retailing market is expected to grow with a CAGR of 6.5% from 2024 to 2030. The major drivers for this market are growth of international tourism and travel, expansion of airport infrastructure and duty-free retail spaces in urban hubs to cater to increasing passenger traffic, and rising disposable incomes and consumer preferences for luxury goods.
• Lucintel forecasts that offline order is expected to witness the higher growth over the forecast period.
• Within this market, cosmetics & personal care product is expected to witness the highest growth.
• APAC is expected to witness highest growth over the forecast period.
United States – DFS Group announces plans to open city-based duty-free stores in key urban centers, targeting affluent travelers. The government aims to attract more international visitors through visa facilitation and promotional campaigns. LÄX%$%XOréal launches exclusive city-duty free cosmetic collections, enhancing shopping experiences for tourists.
China – China Duty Free Group expands its city-duty free retail presence, leveraging partnerships with luxury brands. The government offers incentives for duty-free retail development in urban areas, aiming to stimulate tourism and consumption. Hainan province increases duty-free shopping allowances for travelers visiting cities.
United Kingdom – London Heathrow Airport opens city-duty free boutiques in partnership with luxury brands, targeting transit passengers. The government invests in infrastructure to support city-duty free retail expansion, aiming to boost tourism revenue. Diageo introduces limited-edition spirits exclusively available in city-duty free stores.
France – Paris Charles de Gaulle Airport launches city-duty free shopping events in collaboration with high-end fashion brands, targeting tourists and locals. The government introduces tax incentives for duty-free retailers operating in urban areas, promoting economic growth and tourism development. Luxury cosmetics brands expand their presence in city-duty free boutiques.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
City Duty Free Retailing by Segment
The study includes a forecast for the global city duty free retailing by type, application, and region.
City Duty Free Retailing Market by Type [Shipment Analysis by Value from 2018 to 2030]:
• Cosmetics & Personal Care Products
• Alcohol, Wine & Spirits
• Tobacco & Cigarettes
• Fashion & Luxury Goods
• Confectionery & Food Stuff
• Others
City Duty Free Retailing Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Offline Orders
• Online Orders
City Duty Free Retailing Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of City Duty Free Retailing Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies city duty free retailing companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the city duty free retailing companies profiled in this report include-
• Lagardère Travel Retail
• Lotte Duty Free
• Lvmh
• Aer Rianta
• China Duty Free
• Dubai Duty Free
• Duty Free Americas
Recent Development in the City Duty Free Retailing Market
DFS Group: Launches urban duty-free stores in major cities, offering luxury products and exclusive collections to cater to affluent travelers and locals.
China Duty Free Group: Expands its city-duty free retail footprint, partnering with high-end brands to offer exclusive shopping experiences in urban centers.
LÄX%$%XOréal: Introduces exclusive city-duty free cosmetic collections, attracting tourists and city dwellers seeking premium beauty products.
London Heathrow Airport: Opens city-duty free boutiques in partnership with luxury brands, enhancing the shopping experience for transit passengers and locals alike.
Features of the Global City Duty Free Retailing Market
Market Size Estimates: City duty free retailing market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: City duty free retailing market size by type, application, and region in terms of value ($B).
Regional Analysis: City duty free retailing market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the city duty free retailing market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the city duty free retailing market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for city duty free retailing market?
Answer: The global city duty free retailing market is expected to grow with a CAGR of 6.5% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the city duty free retailing market?
Answer: The major drivers for this market are growth of international tourism and travel, expansion of airport infrastructure and duty-free retail spaces in urban hubs to cater to increasing passenger traffic and rising disposable incomes and consumer preferences for luxury goods.
Q3. What are the major segments for city duty free retailing market?
Answer: The future of the city duty free retailing market looks promising with opportunities in the cosmetics & personal care product, alcohol, wine and spirit, tobacco & cigarette, fashion & luxury good, and confectionery & food stuff markets.
Q4. Who are the key city duty free retailing market companies?
Answer: Some of the key city duty free retailing companies are as follows:
• Lagardère Travel Retail
• Lotte Duty Free
• Lvmh
• Aer Rianta
• China Duty Free
• Dubai Duty Free
• Duty Free Americas
Q5. Which city duty free retailing market segment will be the largest in future?
Answer: Lucintel forecasts that offline order is expected to witness the higher growth over the forecast period.
Q6. In city duty free retailing market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness highest growth over the forecast period.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the city duty free retailing market by type (cosmetics & personal care products, alcohol, wine & spirits, tobacco & cigarettes, fashion & luxury goods, confectionery & food stuff, and others), application (offline orders and online orders), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to City Duty Free Retailing Market Market, City Duty Free Retailing Market Market Size, City Duty Free Retailing Market Market Growth, City Duty Free Retailing Market Market Analysis, City Duty Free Retailing Market Market Report, City Duty Free Retailing Market Market Share, City Duty Free Retailing Market Market Trends, City Duty Free Retailing Market Market Forecast, City Duty Free Retailing Market Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.