Travel Retail Market: Global Industry Size, Share, Growth, Trends, Analysis and Forecast 2018 to 2026

According to the latest report published by Credence Research, Inc. “Global Travel Retail Market – Growth, Future Prospects, and Competitive Analysis, 2018-2026,” The global Travel Retail market amounted to US$ 63.59 billion in 2017, increasing to CAGR by 8.1 per cent from 2018 to 2026.

Market Insights

The global travel retail market increased by US$ 63.59 billion in 2017 with a CAGR of 8.1 per cent during the forecast period from 2018 to 2026. According to the United Nations World Tourism Organization, there has been a huge increase in international tourist arrivals, from only 277 million in 1980 to over 1 billion in 2017. Significant developments in the travel and tourism sector, along with medical tourism, have increased demand for retail travel services. Particularly in the Asia-Pacific region, the introduction of democratic airlines for travel and budget airlines has contributed to an increasing number of travelers. According to statistics from the International Airports Council, travelers experienced a significant increase in the region in 2017 compared to 2016; the growth rate of travelers was significantly higher than the world average.

Browse Full Report Originally Published by Credence Research at https://www.credenceresearch.com/report/travel-retail-market

The emerging middle class in the new markets is one of the main driving factor for increasing demand for travel retail. The emerging middle class in many of the countries in the region is a major factor resulting the increasing number of travelers in the developing countries is. As travel becoming more accessible, consumers have shown a great desire for it, and filling the seats of airlines. More prominently due to increasing number of middle class population, China is the largest source of outbound tourists. In 2016, China followed by Russia represented approximately 29% of total tax-free spending worldwide. Retail benefits, a good selection of shopping malls, famous international brand stores and desire to buy products at a better price are some of the major factors considered by the middle class customers during travel retail shopping.

In 2017, Asia Pacific dominated the travel retail market in terms of value. China, India and Japan are the prime markets for travel retail in Asia Pacific accounting for significant share of total regional revenue. Asia-Pacific is growing at the fastest rate owing to improving standard of living, rise in disposable income, and development of the tourism industry. Furthermore, owing to stronger base of luxury brands, Europe is one of the prominent travel retail markets across the globe. The region holds headquarters of some of the biggest apparels and cosmetics brands, namely, H&M from Sweden and LVMH from France, which hold a substantial share in the luxury a perfumes, apparels and cosmetics sector, thus making Europe the second largest travel retail market. Europe’s market accounts for major share of the travel retail sector as region has headquarters of most of the luxury brands. Wealthy tourists from the Middle East, China, and the U.S. contribute considerably towards the growth of the European travel retail market.

Aer Rianta International (ARI), China Duty Free Group (CDFG), DFASS Group, DFS Group, Dufry AG, Gebr. Heinemann SE & Co. KG, King Power International Group, Lotte Group, Lagardère Group, The Naunace Group and The Shilla Duty Free among others are some of the prominent players in global travel retail market.

Access Free Sample Copy of Research Report: https://www.credenceresearch.com/sample-request/59288

 [Note: Our Free Complimentary Sample Report Accommodate a Brief Introduction To The Synopsis, TOC, List of Tables and Figures, Competitive Landscape and Geographic Segmentation, Innovation and Future Developments Based on Research Methodology are also Included]

Report Scope by Segments

By Product Category Segment

  • Perfumes and Cosmetics
  • Wines and Spirits
  • Fashion and Accessories
  • Tobacco Products
  • Watches and Jewellery
  • Electronics and Gifts
  • Confectionery and Fine Foods

By Sales Channel Segment

  • Airport
  • Airlines
  • Ferries and Cruises
  • Other Shops and Sales

By Geography Segment

  • North America (the U.S., Rest of North America)
  • Europe (U.K., Germany, France, Rest of Europe)
  • Asia Pacific (China, Japan, India, Rest of Asia Pacific)
  • Rest of World (Middle East & Africa (MEA), Latin America)

Key questions answered in this report

  • What are the current market trends in the travel retail market and valuable opportunities for the players?
  • How the regulations affect global as well as the regional markets?
  • Which are the prominent and recent innovations in the market?
  • Which is the most lucrative region for investment?
  • What is the market size and trends in emerging markets?
  • Which are the major sales channels of travel retail and their market sizes?
  • Which are the leading players and their market position?

Access Free Sample Copy of Research Report: https://www.credenceresearch.com/sample-request/59288

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