The Global Travel Retail market research report additionally researches the market regarding volume and income. The report also wraps the promoters in charge of the development of this market. It likewise includes the restrainers that can hamper the development of this market. Further, report talks about on the worthwhile opportunities that can demonstrate development in the market during the estimated time frame i.e. 2019-2026. The report gives the belief system about various components and tendencies influencing the advancement course of the overall Travel Retail Market. An audit of the effect of the authoritative guidelines and approaches on the Travel Retail Market activities is likewise incorporated into this report.
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Market Analysis: Global Travel Retail Market
Global travel retail market is expected to rise to an estimated value of USD 146.53 billion by 2026, registering a substantial CAGR in the forecast period of 2019-2026.
This rise in market value can be attributed to the growing availability of these retail shops in the different applications such as hotels, greater exposure in airports and waterways.
Key Market Competitors:
Few of the major competitors currently working in the global travel retail market are Aer Rianta International; DFS Group Ltd.; KING POWER International; DubaiDutyFree.com; China Duty Free Group Co.,Ltd.; Gebr. Heinemann SE & Co. KG; Dufry; Duty Free Americas, Inc.; Lotte Duty Free; Lagardère Travel Retail; THE SHILLA DUTY FREE; Flemingo; JR/Group; Qatar Duty Free; 3Sixty Duty Free, among others.
- Increasing levels of disposable income of individuals resulting in greater population base travelling cross-country and engaged in availing these particular services; this factor is expected to drive the growth of the market
- Surge in adoption of travel & tourism services is expected to drive the growth of the market
- Significant rush in the levels of urbanization of the world is expected to augment growth in the market
- Better facilitation for travelling which is a result of digitalization in airports inducing a rise in the population travelling across different regions is also expected to foster growth of the market
- Concerns regarding the presence of regulations for sales of particular goods only in the airport sales channel is expected to hinder the growth of the market
- Large costs associated with the operations of these retail shops reducing the profit margins/ratio of sales; this factor is expected to restrain the growth of the market
- Currency fluctuations, growing corruption and grey market also hampers the market growth
Table of Contents
- Market Segmentation
- Market Overview
- Executive Summary
- Premium Insights
- Global, By Component
- Product Type
- Industry Type
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Global Travel Retail Market Segmentation:
By Product Type
- Perfume & Cosmetics
- Wine & Spirits
- Fashion & Accessories
- Luxury Goods
- Food, Confectionaries & Catering
By Sales Channel
- Cruise Liner
- Railway Station
- Hotel Shops
- North America
- South America
- Middle East and Africa
Key Insights in the report:
- Competitive analysis of key competitors involved in the market
- Complete analysis of market segmentation and which segments are set to flourish in the forecast period of 2019 to 2026
- Market drivers and restraints analysis along with the analysis of the market structure
Key Developments in the Market:
- In December 2018, Lotte Duty Free announced that they had completed the acquisition of JR/Group’s duty free business for the Oceania region, specifically for the Australia & New Zealand region. The acquisition is a complement to their strategy of establishing themselves as the leader in travel retail for the region in the coming years. The acquisition includes four stores in the Australia region and one store in New Zealand.
- In November 2018, Lagardère Travel Retail announced that they had completed the acquisition of Hojeij Branded Foods. This acquisition will reportedly expand their capabilities associated with travel retail for the North American region, specifically for the travel foodservice operations. The acquisition was valued at approximately USD 330 million in cash.
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