Travel Retailing Market Trends and Forecast
The future of the global travel retailing market looks promising with opportunities in the airport, airplane, cruise ship, and downtown markets. The global travel retailing market is expected to grow with a CAGR of 8.2% from 2024 to 2030. The major drivers for this market are increase in international travel and growth of the tourism industry.
• Lucintel forecasts that perfume & cosmetic is expected to witness the highest growth over the forecast period.
• Within this market, airport is expected to witness the highest growth.
• APAC is expected to witness highest growth over the forecast period.
United States: Walmart: Walmart announced plans to invest $350 billion in American manufacturing over the next 10 years, aiming to create new jobs and support domestic suppliers. The company also set targets to increase sourcing of US-made products for its stores.Amazon: Amazon unveiled initiatives to expand its grocery retail operations, including the launch of new physical stores and the expansion of its online grocery delivery services. The company aims to capture a larger share of the US grocery market.Government: The US government introduced measures to support small and medium-sized businesses in the commodity retail sector, including grants and loans to stimulate economic growth.
India: Reliance Retail: Reliance Retail announced plans to expand its footprint in the Indian commodity retail market by opening thousands of new stores across various formats. The company aims to strengthen its position as a leading retailer in India. Government: The Indian government set targets to double agricultural exports by 2022 through initiatives to improve infrastructure, increase productivity, and enhance market access for farmers.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Travel Retailing by Segment
The study includes a forecast for the global travel retailing by type, application, and region.
Travel Retailing Market by Type [Shipment Analysis by Value from 2018 to 2030]:
• Perfume & Cosmetic
• Food
• Wine & Spirit
• Luxury Goods
• Tobacco
• Electronics
• Others
Travel Retailing Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Airport
• Airplane
• Cruise Ship
• Downtown
• Others
Travel Retailing Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Travel 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 travel retailing companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the travel retailing companies profiled in this report include-
• Lotte Duty-Free
• The Shilla Duty-Free
• China Duty-Free
• Lagardère Travel Retail
• Gebr Heinemann
• DFS Group
• King Power International
Recent Development in the Travel Retailing Market
Dufry: Dufry is one of the worldÄX%$%Xs largest travel retailers, operating duty-free shops in airports, cruise lines, and other travel destinations. The company has been focusing on expanding its digital presence to enhance the customer experience. Recently, Dufry launched a mobile app that allows travelers to browse duty-free products, reserve items in advance, and collect them upon arrival at the airport. This initiative aims to streamline the shopping process for travelers and increase sales for Dufry.
Lagardère Travel Retail: Lagardère Travel Retail is a global leader in travel retail, operating stores in airports, train stations, and other travel hubs. The company has been investing in sustainability initiatives to reduce its environmental impact. One recent initiative by Lagardère Travel Retail is the introduction of eco-friendly packaging for duty-free products, such as reusable bags and biodegradable packaging materials. This initiative aligns with growing consumer demand for sustainable travel options and reflects Lagardère Travel RetailÄX%$%Xs commitment to corporate responsibility.
DFS Group: DFS Group is renowned for its luxury travel retail stores, offering a wide range of duty-free products to travelers worldwide. The company has been leveraging technology to personalize the shopping experience for its customers. Recently, DFS Group launched a virtual concierge service that uses artificial intelligence to provide personalized product recommendations based on travelersÄX%$%X preferences and purchase history. This initiative aims to enhance customer engagement and drive sales for DFS Group in an increasingly competitive market.
Gebr. Heinemann: Gebr. Heinemann is a family-owned travel retailer with a presence in airports, border shops, and downtown locations worldwide. The company has been focusing on diversifying its product offerings to cater to evolving consumer preferences. One recent initiative by Gebr. Heinemann is the introduction of experiential retail concepts in its stores, such as pop-up events, tastings, and workshops. These initiatives aim to create memorable shopping experiences for travelers and differentiate Gebr. HeinemannÄX%$%Xs stores from competitors in the travel retail market.
Features of the Global Travel Retailing Market
Market Size Estimates: Travel retailing market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Travel retailing market size by type, application, and region in terms of value ($B).
Regional Analysis: Travel 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 travel retailing market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the travel retailing market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for travel retailing market?
Answer: The global travel retailing market is expected to grow with a CAGR of 8.2% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the travel retailing market?
Answer: The major drivers for this market are increase in international travel and growth of the tourism industry.
Q3. What are the major segments for travel retailing market?
Answer: The future of the travel retailing market looks promising with opportunities in the airport, airplane, cruise ship, and downtown markets.
Q4. Who are the key travel retailing market companies?
Answer: Some of the key travel retailing companies are as follows:
• Lotte Duty-Free
• The Shilla Duty-Free
• China Duty-Free
• Lagardère Travel Retail
• Gebr Heinemann
• DFS Group
• King Power International
Q5. Which travel 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 travel 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 travel retailing market by type (perfume & cosmetic, food, wine & spirit, luxury goods, tobacco, electronics, and others), application (airport, airplane, cruise ship, downtown, 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?
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