The global travel retail market is rapidly rising, expected to reach 120.2 billion USD by 2031.
The global travel retail market is on a remarkable growth trajectory, with sales projected to surge to $120.2 billion by 2031. This impressive expansion reflects a compound annual growth rate (CAGR) of 9.6% during the forecast period from 2023 to 2031. The market's sales in 2022 were approximately $52.7 billion. Often synonymous with duty-free shopping, travel retail is evolving into a dynamic sector that encompasses various retail segments within the travel and tourism industry, extending beyond airports and borders. The global travel retail market is transforming from merely a shopping stopover into an integral part of the travel experience. Travel retailers are focusing on creating memorable journeys for travelers by offering a diverse range of innovative products, promotions, and services. For application methods, please check the [PDF download] button or apply directly through the related links.
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Overview of Segmentation The global travel retail market is classified based on product type, distribution channel, and region. By Product Type - Perfumes and cosmetics - Food, confectionery, and catering - Wine and spirits - Luxury goods - Tobacco - Electronics - Others By Distribution Channel - Airports - Cruise ships - Train stations - Border, downtown, and hotel shops Key Companies: - LVMH Group - Lagardere - Gebr Heinemann SE & Co. KG - King Power International - Lotte Corporation - Dufry AG - The Shilla Duty-Free - China Duty-Free Group Co., Ltd - Duty-Free Americas, Inc - Aer Rianta International
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