Travel Retail Market Overview
Envisaged during the envisaged period, Maximize Market Research envisions a noteworthy upsurge in the market. The scrutiny of the Travel Retail Market evaluated by Maximize Market Research, entails a comprehensive exploration of regional intricacies and the competitive landscape.
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Travel Retail Market Scope and Methodology
The report adopts a foundation-up methodology to estimate the Travel Retail Market’s dimensions. Information is sourced from primary and secondary databases, encompassing both qualitative and quantitative analysis. Primary data is acquired via surveys, questionnaires, and interviews with key figures and entrepreneurs in the Travel Retail market. The report leverages analytical tools such as SWOT, PESTLE, and Porter’s Five Forces Analysis to conduct comprehensive market scrutiny. SWOT analysis facilitates a holistic comprehension of factors influencing business decisions within the market, while PESTLE analysis furnishes insights into growth prospects and risks that influence market efficiency. Overall, the report functions as a valuable resource for investors, stakeholders, and market observers, aiding them in making well-informed judgments within the Travel Retail Market arena.
Travel Retail Market Regional Insights
The assessment of regional dynamics is conducted to gauge the state of the Travel Retail market across nations falling within North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. This market, denoted as Travel Retail, is broadly categorized into these delineated regions, facilitating an in-depth comprehension of the market’s topography and the ever-evolving forces within each specific geographical domain.
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Travel Retail Market Segmentation
by Product
Fashion and accessories
Perfume and cosmetics
Electronics
Food
Confectionery products
Bakery products
Catering
Luxury goods
Watches
Jewelry
Wine & spirits
Tobacco
Others
In terms of product segmentation, In 2020, the perfume and cosmetics section held the highest revenue share due to the increasing sales of various personal care products across several retail locations. Worldwide airports are seeing the construction of new boutiques by L’Oreal and other cosmetics brands. It is anticipated that this component would further propel segment growth. In 2020, wine and spirits ranked as the second-largest industry, and growth in the coming years is anticipated to be consistent. Since they are less expensive in duty-free stores, alcoholic spirits are among the items that are most frequently purchased there.
by Sector
Duty-Free
Duty Paid
by Sales Channel
Airport
Cruise Liner
Railway Station and Border
Downtown and Hotel Shop
According to the Sales Channel Segment, the airport industry dominated the market in 2022 and held the biggest market share. The expansion of this segment is expected to be aided by an increase in air travellers due to reduced expenses and better living standards. Additionally, the retail sector in this section has grown as a result of numerous airports’ initiatives to boost profitability from non-aeronautical resources. Over the course of the projection period, the category with the fastest forecasted growth is expected to be border, downtown, and hotel retailers. These stores are a representation of the newest fashions. Compared to the airport area, retailers benefit from lower rents in border and downtown areas.
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Travel Retail Market Key Players
1. Dufry Group
2.Lotte Duty-Free
3. The Shilla Duty-Free
4. China Duty-Free Group
5. Lagardére Travel Retail
6. DFS Group
7. Gebr Heinemann
8. Shinsegae Duty-Free
9. King Power International Group (Thailand)
10. Ever Rich Duty-Free Shop
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Key questions answered in the Travel Retail Market are:
- What is Travel Retail?
- What was the Travel Retail market size in 2022?
- What are the different segments of the Travel Retail Market?
- What growth strategies are the players considering to increase their presence in Travel Retail?
- What are the upcoming industry applications and trends for the Travel Retail Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Travel Retail Market?
- What major challenges could the Travel Retail Market face in the future?
- What segments are covered in the Travel Retail Market?
- Who are the leading companies and what are their portfolios in Travel Retail Market?
- What segments are covered in the Travel Retail Market?
- Who are the key players in the Travel Retail market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by different segment | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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