Duty-Free Retailing Trends and Forecast
The future of the global duty-free retailing market looks promising with opportunities in the airport, cruise liner, railway station, border, and down-town & hotel shop markets. The global duty-free retailing market is expected to grow with a CAGR of 10.3% from 2024 to 2030. The major drivers for this market are global growth in disposable earnings combined with rising consumer expenditure, growing global travel and tourism sector, and rising investments in airport infrastructure and facilities, including duty-free retail spaces.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Duty-Free Retailing by Segment
The study includes a forecast for the global duty-free retailing by product type, sale channel, and region.
Duty-Free Retailing Market by Product Type [Shipment Analysis by Value from 2018 to 2030]:
• Perfume & Cosmetics
• Electronics
• Wine & Spirits
• Food
• Confectionery & Catering
• Tobacco
• Luxury Goods
• Others
Duty-Free Retailing Market by Sale Channel [Shipment Analysis by Value from 2018 to 2030]:
• Airports
• Cruise Liners
• Railway Stations
• Border
• Down-Town & Hotel Shop
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 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 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 duty-free retailing companies profiled in this report include-
• Lotte Duty Free
• China Duty Free Group
• Heinemann
• The Shilla Duty Free
• KING POWER International
• Duty Free Americas
• DFS Group
Duty-Free Retailing Market Insights
Lucintel forecasts that perfume & cosmetic is expected to witness the highest growth over the forecast period.
Within this market, airport will remain the largest segment due to rising number of duty-free retail stores at various airports around the world.
APAC is expected to witness highest growth over the forecast period due to expanding travel and tourism sector, as well as the rising quantity of new international routes in the region.
Features of the Global Duty-Free Retailing Market
Market Size Estimates: Duty-free retailing market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Duty-free retailing market size by product type, sale channel, and region in terms of value ($B).
Regional Analysis: Duty-free retailing market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different product types, sale channels, and regions for the duty-free retailing market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the 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 duty-free retailing market?
Answer: The global duty-free retailing market is expected to grow with a CAGR of 10.3% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the duty-free retailing market?
Answer: The major drivers for this market are global growth in disposable earnings combined with rising consumer expenditure, growing global travel and tourism sector, and rising investments in airport infrastructure and facilities, including duty-free retail spaces.
Q3. What are the major segments for duty-free retailing market?
Answer: The future of the global duty-free retailing market looks promising with opportunities in the airport, cruise liner, railway station, border, and down-town & hotel shop markets.
Q4. Who are the key duty-free retailing market companies?
Answer: Some of the key duty-free retailing companies are as follows:
• Lotte Duty Free
• China Duty Free Group
• Heinemann
• The Shilla Duty Free
• KING POWER International
• Duty Free Americas
• DFS Group
Q5. Which duty-free retailing market segment will be the largest in future?
Answer: Lucintel forecasts that perfume & cosmetic is expected to witness the highest growth over the forecast period.
Q6. In 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 due to expanding travel and tourism sector, as well as the rising quantity of new international routes in the region.
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 duty-free retailing market by product type (perfume & cosmetics, electronics, wine & spirits, food, confectionery & catering, tobacco, luxury goods, and others), sale channel (airports, cruise liners, railway stations, border, and down-town & hotel shop), 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 Duty-Free Retailing Market, Duty-Free Retailing Market Size, Duty-Free Retailing Market Growth, Duty-Free Retailing Market Analysis, Duty-Free Retailing Market Report, Duty-Free Retailing Market Share, Duty-Free Retailing Market Trends, Duty-Free Retailing Market Forecast, Duty-Free Retailing Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.