Duty Free Retailing Market to Witness Growth Acceleration During 2019-2027
Category: #reports  By Ashwin Naphade  Date: 2020-03-16
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Duty Free Retailing Market to Witness Growth Acceleration During 2019-2027

Market Study Report adds Global Duty-Free Retailing market report that gives meticulous investigation of current scenario of the market size, share, demand, growth, trends, companies active in the industry and forecasts for the coming years.

The global duty free retailing market revenue from 2019 to 2027. The global duty free retailing market accounted for US$ 77.87 Bn in 2018 and is anticipated to grow at a CAGR of 8.44% to reach US$ 155.30 Bn by 2027. Duty-free retailing offers products to international travelers. Thus, is a substantial source of income and Duty-free retailing offers products to international travelers. Thus, is a substantial source of income and offers numerous marketing opportunities. The growth of the travel & tourism industry is one of the key factors bolstering the growth of the duty-free retailing market. Duty-free retailing offers temporary spaces that provide extra time to travelers after security check-in and enable them to get indulgent with the ambiance as well as the experience of shopping for international duty-free products.

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The overall global duty free retailing market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the global duty free retailing market. It also provides an overview and forecast for the duty free retailing market based on all the segmentation provided for the global region. Also, primary interviews were conducted with industry participants and commentators to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the duty free retailing industry.

The global duty free retailing market has also been analyzed on basis of five major regions such as North America, Europe, APAC, MEA, and SAM. The major players profiled in the duty free retailing market are Aer Rianta International (ARI), China Duty Free Group Co., Ltd., Dubai Duty Free, Duty Free Americas, Gebr. Heinemann, King Power International Group, Lotte Duty Free, Shinsegae Duty Free, The Shilla Duty Free, LVMH, LAGARDèRE TRAVEL RETAIL, Hyundai Duty Free, DUFRY AG.

The global duty free retailing market has been segmented on the basis of product type, application. Based on product type, the duty free retailing market has been segmented into cosmetics and personal care products, alcohol, wine and spirits, tobacco and cigarettes, fashion, confectionery and food stuff, and other. Based on application, duty free retailing market has been segmented into airports, on-board aircraft, seaports, others.

Europe is estimated to be the second-largest market in 2018. It is due to the region’s rich heritage as well as its position as a significant tourist region. Also, the presence of retail chains offering luxury and premium brands is another critical factor influencing the market growth in European. Key players in European have adopted the expansion strategy to stay competitive in the market. For instance, Dufry opened a new duty-free store located at Norwich airport to enhance passenger communication in 2018. Also, in 2017, Dufry’s subsidiary “Hellenic Duty-Free Shops” signed an agreement with Fraport Greece to operate for 30 years in order to offer retail services at 14 Greek airports. However, in 2019, KLM Royal Dutch announced to stop the sale of duty-free items on its European flights. It may hamper the on-board aircraft segment growth in the coming years.

In terms of geography, APAC held around half of the duty-free retailing market share in 2018, and it is anticipated to witness the highest CAGR during the forecast period. The growth in the APAC region is attributed to the growing number of new air routes coupled with the commencement of LCCs. Moreover, the rise in the purchasing power due to growth in the middle-class population across developing economies is expected to offer lucrative growth opportunities to the market players.

Presently, vendors in the duty-free retailing market are focusing on digitalizing the retail process and adoption of advanced technologies such as AR and VR for offering enhanced customer experience, which may boost sales. Moreover, the rising demand for duty-free luxury and premium brands of several products is providing opportunities to the duty-free retailing market.

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Table of Content:

1. Introduction

1.1 Scope of the Study

1.2 The Insight Partners Research Report Guidance

1.3 Market Segmentation

2. Key Takeaways

3. Research Methodology

3.1 Coverage

3.2 Secondary Research

3.3 Primary Research

4. Duty Free Retailing Market Landscape

4.1 Market Overview

4.2 Ecosystem Analysis

4.3 PEST Analysis

4.3.1 North America – PEST Analysis

4.3.2 Europe – PEST Analysis

4.3.3 Asia-Pacific – PEST Analysis

4.3.4 Middle East & Africa – PEST Analysis

4.3.5 South America – PEST Analysis

4.4 Premium Insights

4.4.1 Segmental Revenue by Operator

4.4.1.1 LVMH

4.4.1.2 Dufry AG

4.4.1.3 Dubai Duty Free

4.4.1.4 Gebr Heinemann

4.4.1.5 The Shilla Duty Free

4.4.2 Segmental Revenue by Operator

4.4.2.1 Insights on Impact of Natural or Biological Calamities on Duty Free Retailing Market and its Recovery

4.4.2.1.1 Coronavirus

4.4.2.1.2 Spread of the Zika virus beyond the Americas

5. Duty Free Retailing Market – Key Industry Dynamics

5.1 Key Market Drivers

 

For More Details on this Report:

https://www.marketstudyreport.com/reports/duty-free-retailing-market-to-2027-global-analysis?utm_source=itrsrch&utm_medium=Vipin

 

Related Report:

Global Duty Free Retailing Market Growth (Status and Outlook) 2019-2024

According to this study, over the next five years the Duty Free Retailing market will register a 14.0% CAGR in terms of revenue, the global market size will reach US$ 78910 million by 2024, from US$ 46710 million in 2019. In particular, this report presents the global revenue market share of key companies in Duty Free Retailing business, shared in Chapter 3.

https://www.marketstudyreport.com/reports/global-duty-free-retailing-market-growth-status-and-outlook-2019-2024?utm_source=itrsrch&utm_medium=Vipin   

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About Author

Ashwin Naphade

Email: [email protected]   

Ashwin Naphade

Ashwin is into digital marketing since the last 2 years and has worked on multiple projects across various industries. He likes posting information and knowledge on multiple topics with an objective to create online visibility as well as share his inputs. His interest...

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