Duty Paid Retailing Market Trends and Forecast
The future of the global duty paid retailing market looks promising with opportunities in the airport, seaport, and train station markets. The global duty paid retailing market is expected to grow with a CAGR of 10.2% from 2024 to 2030. The major drivers for this market are increasing international travel and tourism, growth of e-commerce and online shopping, and rising demand for personalized experiences in retail.
• Lucintel forecasts that cosmetics & personal care product is expected to witness the highest growth over the forecast period.
• Within this market, airport is expected to witness the highest growth.
• North America is expected to witness highest growth over the forecast period.
United States: Company Initiatives: DFS Group has expanded its duty-paid retail operations in major U.S. airports, introducing luxury boutiques and premium product offerings. The company focuses on enhancing the shopping experience for travelers with high-end brands and exclusive products.
Government Regulations: The U.S. government continues to support the growth of airport retailing through infrastructure investments and streamlined customs processes, aiming to boost tourism and travel retail revenues.
India: Company Initiatives: DLF Shopping Malls has expanded its duty-paid retail outlets in major airports across India, offering a diverse range of products from electronics to luxury goods. The company aims to capitalize on the growing number of domestic and international travelers.
Government Support: The Indian government has announced initiatives to improve airport infrastructure and enhance retail spaces, aiming to boost tourism and provide a world-class shopping experience for travelers.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Duty Paid Retailing by Segment
The study includes a forecast for the global duty paid retailing by type, application, and region.
Duty Paid Retailing Market by Type [Shipment Analysis by Value from 2018 to 2030]:
• Cosmetics & Personal Care Products
• Alcohol, Wine & Spirit
• Tobacco & Cigarette
• Fashion & Luxury Goods
• Confectionery & Food Stuffs
• Others
Duty Paid Retailing Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Airport
• Seaport
• Train Station
• Others
Duty Paid 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 Paid 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 paid retailing companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the duty paid retailing companies profiled in this report include-
• Dufry
• LVMH
• Aer Rianta International
• China Duty Free
• Gebr
• Heinemann
• King Power International
Recent Development in the Duty Paid Retailing Market
DFS Group: DFS Group has been expanding its duty-paid retail operations in major international airports, particularly focusing on luxury boutiques and high-end product offerings. The company has introduced exclusive products and partnerships with renowned luxury brands to enhance the shopping experience for international travelers. In recent years, DFS Group has also been investing in digital retail solutions to offer seamless shopping experiences and personalized services.
Dufry: Dufry has been aggressively expanding its global footprint in the duty-paid retail market by acquiring and partnering with local retailers in various regions. The company focuses on enhancing its product range, including cosmetics, fashion, electronics, and local specialties, to cater to the diverse preferences of travelers. DufryÄX%$%Xs strategy includes leveraging data analytics to optimize product offerings and improve customer engagement through targeted marketing campaigns.
Heinemann Duty Free: Initiative Description: Heinemann Duty Free has been enhancing its duty-paid retail operations in European airports, particularly in Germany. The company is known for its wide range of products, including cosmetics, spirits, confectionery, and local specialties. Heinemann has been focusing on creating immersive retail experiences with innovative store designs and interactive technologies. The company also emphasizes sustainability by offering eco-friendly products and reducing its carbon footprint through various green initiatives.
China Duty Free Group (CDFG):CDFG has been expanding its duty-paid retail presence in both airports and downtown shopping centers across China. The company focuses on high-end brands and exclusive products to attract affluent travelers. CDFG has also been investing in digital transformation, including e-commerce platforms and mobile apps, to provide a seamless and convenient shopping experience. Additionally, CDFG has been strengthening its partnerships with international luxury brands to offer unique and exclusive products.
Features of the Global Duty Paid Retailing Market
Market Size Estimates: Duty paid retailing market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Duty paid retailing market size by type, application, and region in terms of value ($B).
Regional Analysis: Duty paid 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 duty paid retailing market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the duty paid 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 paid retailing market?
Answer: The global duty paid retailing market is expected to grow with a CAGR of 10.2% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the duty paid retailing market?
Answer: The major drivers for this market are increasing international travel and tourism, growth of e-commerce and online shopping, and rising demand for personalized experiences in retail.
Q3. What are the major segments for duty paid retailing market?
Answer: The future of the duty paid retailing market looks promising with opportunities in the airport, seaport, and train station markets.
Q4. Who are the key duty paid retailing market companies?
Answer: Some of the key duty paid retailing companies are as follows:
• Dufry
• LVMH
• Aer Rianta International
• China Duty Free
• Gebr
• Heinemann
• King Power International
Q5. Which duty paid retailing market segment will be the largest in future?
Answer: Lucintel forecasts that cosmetics & personal care product is expected to witness the highest growth over the forecast period.
Q6. In duty paid retailing market, which region is expected to be the largest in next 5 years?
Answer: North America 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 duty paid retailing market by type (cosmetics & personal care products, alcohol, wine & spirit, tobacco & cigarette, fashion & luxury goods, confectionery & food stuffs, and others), application (airport, seaport, train station, and others), 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 Paid Retailing Market Market, Duty Paid Retailing Market Market Size, Duty Paid Retailing Market Market Growth, Duty Paid Retailing Market Market Analysis, Duty Paid Retailing Market Market Report, Duty Paid Retailing Market Market Share, Duty Paid Retailing Market Market Trends, Duty Paid Retailing Market Market Forecast, Duty Paid Retailing Market Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.