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.
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
Growth momentum & CAGR
Accelerate at a CAGR of 8.56%
Market growth 2022-2026
USD 6.04 billion
YoY growth (%)
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
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
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.
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Table of Contents
Value chain analysis
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 Segmentation by Product
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
Comparison by Distribution channel
Airports - Market size and forecast 2020-2025
Others - Market size and forecast 2020-2025
Market opportunity by Distribution channel
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 positioning of vendors
DFS Group Ltd.
Dubai Duty Free
Gebr. Heinemann SE and Co. KG
HOTEL SHILLA Co. Ltd.
James Richardson Group
King Power International Co. Ltd.
Lotte Shopping co. Ltd.
LVMH Moet Hennessy - Louis Vuitton
Scope of the report
Currency conversion rates for US$
List of abbreviations
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