Duty-free Retailing Market to Record a CAGR of 8.56%, Growing International Tourism to Drive Growth - Technavio

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NEW YORK, Aug. 18, 2022 /PRNewswire/ -- The growth of the duty-free retailing market will be driven by factors such as growing international tourism. The number of inbound and outbound tourists has grown significantly, which has increased visitors to airports across the world. The rise in the number of foreign and domestic trips for business, leisure, and sports is fueling this growth. The US, Mexico, Canada, China, Thailand, and Malaysia are some of the highest revenue-generating countries in the tourism sector. Therefore, the rising number of international tourist arrivals across the world is expected to contribute to the increase in footfalls at duty-free stores in airports. This, in turn, will drive sales in the global duty-free retailing market.

Attractive Opportunities in Duty-free Retailing Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026
Attractive Opportunities in Duty-free Retailing Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026

The duty-free retailing market size is expected to grow by USD 6.04 bn from 2021 to 2026. In addition, the growth momentum of the market will accelerate at a CAGR of 8.56% during the forecast period.

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Duty-free Retailing Market: Vendor Analysis

Aer Rianta International, Changi Airport Group Singapore Pte. Ltd., China Duty Free Group Co. Ltd., Delhi Duty Free Services Pvt. Ltd., DFS Group Ltd., Dubai Duty Free, Dufry AG, Duty Free Americas Inc., Flemingo International, Gebr. Heinemann SE and Co. KG, Hyundai Department Store Group Co. Ltd., Japan Airport Terminal Co. Ltd., King Power Group, Lagardere SA, Lotte Corp., Mumbai Duty Free, Samsung Electronics Co. Ltd., and SHINSEGAE INTERNATIONAL, among others, are the main players in the market. The key offerings of some of these vendors are listed below:

  • Aer Rianta International - The company offers solutions for duty-free retailing in the travel sector by managing duty-free and duty-paid retail outlets in Europe, The Middle East, Asia Pacific, and the Americas.

  • China Duty Free Group Co. Ltd. - The company offers solutions for duty-free retailing by opening an outdoor pop-up store in Sanya International Duty Free Shopping Complex with its Capsule collection of products that include jackets, shoes, and bags.

  • DFS Group Ltd. - The company offers solutions for duty-free retailing with its 54 duty-free stores located in 13 major global airports and 23 downtown that includes products such as bags, shoes, and clothing collection.

  • Dubai Duty Free - The company offers solutions for duty-free retailing in Dubai International Airport and at Al Maktoum International Airport, where travelers can enjoy Glenmorangie Signet's mocha tastes and explore the new eau de parfum Gentleman Givenchy Re´serve Prive´e, a fragrance inspired by the world of whisky.

  • Dufry AG - The company offers solutions for duty-free retailing, offering products from a wide selection of original, local, and brand name items that includes perfumes and cosmetics, confectionery, liquor, fashion, and local products.

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Duty-free Retailing Market: Segmentation Analysis

This market research report segments the duty-free retailing market by product (fashion apparel and accessories, cosmetics and perfumes, tobacco and alcoholic beverages, and confectionery and fine foods), distribution channel (airports and others), and geography (APAC, Europe, North America, the Middle East and Africa, and South America).

APAC leads the duty-free retailing market and will account for 44% of the market's growth during the forecast period. The growth of this region is attributed to factors such as the growing travel and tourism sector and the increasing number of new international connections. Moreover, market growth in this region will be faster than the growth of the market in other regions. China and Japan are the key countries for the duty-free retailing market in APAC.

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Duty-free Retailing Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 8.56%

Market growth 2022-2026

USD 6.04 billion

Market structure

Fragmented

YoY growth (%)

8.29

Regional analysis

APAC, Europe, North America, Middle East and Africa, and South America

Performing market contribution

APAC at 44%

Key consumer countries

US, China, Japan, France, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Aer Rianta International, Changi Airport Group Singapore Pte. Ltd., China Duty Free Group Co. Ltd., Delhi Duty Free Services Pvt. Ltd., DFS Group Ltd., Dubai Duty Free, Dufry AG, Duty Free Americas Inc., Flemingo International, Gebr. Heinemann SE and Co. KG, Hyundai Department Store Group Co. Ltd., Japan Airport Terminal Co. Ltd., King Power Group, Lagardere SA, Lotte Corp., Mumbai Duty Free, Samsung Electronics Co. Ltd., and SHINSEGAE INTERNATIONAL

Market dynamics

Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Browse Consumer Discretionary Market Reports

Table of Contents

Executive Summary

Market Landscape

  • Market ecosystem

  • Value chain analysis

Market Sizing

  • Market definition

  • Market segment analysis

  • Market size 2020

  • Market outlook: Forecast for 2020 - 2025

Five Forces Analysis

  • Bargaining power of buyers

  • Bargaining power of suppliers

  • Threat of new entrants

  • Threat of substitutes

  • Threat of rivalry

  • Market condition

Market Segmentation by Product

  • Market segments

  • Comparison by Product

  • Fashion apparel and accessories - Market size and forecast 2020-2025

  • Cosmetics and perfumes - Market size and forecast 2020-2025

  • Tobacco and alcoholic beverages - Market size and forecast 2020-2025

  • Confectionery and fine foods - Market size and forecast 2020-2025

  • Market opportunity by Product

Market Segmentation by Distribution channel

  • Market segments

  • Comparison by Distribution channel

  • Airports - Market size and forecast 2020-2025

  • Others - Market size and forecast 2020-2025

  • Market opportunity by Distribution channel

Customer landscape

  • Customer landscape

Geographic Landscape

  • Geographic segmentation

  • Geographic comparison

  • APAC - Market size and forecast 2020-2025

  • Europe - Market size and forecast 2020-2025

  • North America - Market size and forecast 2020-2025

  • MEA - Market size and forecast 2020-2025

  • South America - Market size and forecast 2020-2025

  • Key leading countries

  • Market opportunity by geography

  • Market drivers

  • Market challenges

  • Market trends

Vendor Landscape

  • Overview

  • Landscape disruption

Vendor Analysis

  • Vendors covered

  • Market positioning of vendors

  • DFS Group Ltd.

  • Dubai Duty Free

  • Dufry AG

  • Gebr. Heinemann SE and Co. KG

  • HOTEL SHILLA Co. Ltd.

  • James Richardson Group

  • King Power International Co. Ltd.

  • Lagardere SCA

  • Lotte Shopping co. Ltd.

  • LVMH Moet Hennessy - Louis Vuitton

Appendix

  • Scope of the report

  • Currency conversion rates for US$

  • Research methodology

  • List of abbreviations

About Technavio

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