Portland, OR -- (SBWIRE) -- 05/17/2018 -- The global Travel retail market size is expected to reach $125.1 billion by 2023, registering a CAGR of 8.9% during the forecast period.
Rise in disposable income has elevated the consumers' lifestyle and shifted their preference towards apparels, luxury goods, premium fragrances, cosmetics, and other products. Moreover, the development in emerging nations such as Asia-Pacific and LAMEA is projected to supplement the global travel retail market growth. However, unorganized local market and stringent government regulations in airport retailing hamper the global travel retail market growth.
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The global travel retail market is segmented on the basis of product, channel, and geography. The product segment includes perfumes & cosmetics, wine & spirits, tobacco, electronics, luxury goods, food & confectionery, and catering & others. In 2016, beauty products, namely, perfumes & cosmetics accounted for the maximum revenue with more than 30% market share. Based on channel, the global travel retail market is classified into airports; cruise liners; railway stations; and border, downtown, & hotel shops. Regionally, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
On the basis of product type, the luxury goods segment is anticipated to register the highest growth rate during the forecast period in the travel retail market. The purchase of these goods is extremely dependent on the economic stability of any region, as the goods are majorly procured by the upper economic classes. Regionally, Asia-Pacific is expected to dominate the global market during the analysis period, due to the presence of large number of retail companies in China, India, Thailand, and others. In addition, the market in Asia-Pacific is expected to grow at the fastest rate due to increase in number of high net worth individuals and a growing tourism industry.
KEY MARKET PLAYERS PROFILED IN THE REPORT ARE:
- DFS Group
- LS Travel Retail
- Lotte Duty Free
- King Power International Group
- The Shilla Duty Free
- Gebr. Heinemann
- China Duty Free Group (CDFG)
- Aer Rianta International (ARI)
- The Naunace Group
KEY BENEFITS FOR STAKEHOLDERS
- This report provides an in-depth analysis of the global travel retail market to identify the potential investment pockets.
- It outlines the current trends and future scenarios to determine the travel retail market potential and gain stronger market foothold.
- Key drivers, restraints, and opportunities and their detailed impact analysis are elucidated.
- Quantitative analysis of the travel retail industry from 2016 to 2023 is highlighted to recognize the financial competency of the market.
- Porter's Five Forces model illustrates the threat of new entrants, threat of substitutes, and strength of the buyers & suppliers.
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KEY MARKET SEGMENTS
By Product Type
- Perfumes & Cosmetics
- Wine & Spirits
- Luxury Goods
- Food, Confectionery, & Catering
- Cruise Liners
- Railway Stations
- Border, Downtown, & Hotel Shops
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East
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THE OTHER PLAYERS IN THE MARKET INCLUDE THE FOLLOWING:
- Regstaer Duty Free
- Baltona Duty Free
- Le Bridge Duty Free
- Dubai Duty Free
- James Richardson Corporation
Table Of Content
- CHAPTER 1 INTRODUCTION
- CHAPTER 2 EXECUTIVE SUMMARY
- CHAPTER 3 MARKET OVERVIEW
- CHAPTER 4 TRAVEL RETAIL MARKET, BY PRODUCT
- CHAPTER 5 TRAVEL RETAIL MARKET, BY CHANNEL
- CHAPTER 6 TRAVEL RETAIL MARKET, BY GEOGRAPHY
- CHAPTER 7 COMPANY PROFILES
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