- Perfume and Cosmetics
- Wine and Spirit
- Electronics
- Luxury Goods
- Food
- Confectionery and Catering
- Tobacco
- Others
Travel Retail Market size is expected to be valued at USD 62.3 billion in 2022 which is expected to grow at a CAGR of 13.2% over 2022-2028. Travel retail, also known as duty-free sales includes the commercialization of products related to numerous goods categories. This sales channel comprises sales to customers who are travelers and sales of objects that do not have taxes or excise forced on their sale values. Travel retail is a retailing shop that sells goods to guests from other countries. It has numerous marketing prospects and is a significant cash source. The surge in tourism and travel which has increased the demand for cosmetics, apparel, electronic retail, and food items can lead to the growth of the travel retail market. Moreover, growth in urbanization and lifestyle changes are some primary factors that can boost the global travel retail market. Apart from these, an increase in disposable income amongst middle-income families and upgradation in economic conditions can also accelerate the market in the future. However, some factors such as high costs for international trips and lack of knowledge among the travelers about various product upgrades and launches can restrain the growth of the market. Chaotic local markets and stringent government regulations relating to airport retailing can hinder market growth. Companies should focus on the expansion and growth of the tourism and travel sector particularly in developing countries which can create an opportunity for the growth of the global travel retail market. Moreover, an increase in the millennial population can create a lucrative opportunity in the market.
Recent Market Developments: In February 2022, Altavia launched Altavia Travel Retail
Study Period
Base Year
CAGR
Largest Market
Fastest Growing Market
One of the major reasons for the growth of the global travel retail market is the growing number of international tourists. Millennials utilize more time on vacation as compared to other generations and they are not interested in performing the same kinds of adventures on all of their trips. They wish for diversity and travel experiences that are exclusively theirs. Millennial travelers want to reduce stress on one trip, see relatives on another, and then seek a romantic holiday on the next. Because they need to experience a diversity of holiday types, their fondness for diversity is expected to propel the growth of the market in the forecast period.
The primary factors that drive the market are the increasing number of international tourists, inexpensive travel selections, and the growing middle-class population in developing Asian countries.
North America is dominating the travel retail market.
Aer Rianta International, China Tourism Group Duty-Free Corporation Limited, DUFRY GROUP, Duty-Free Americas, Inc, Gebr. Heinemann SE & Co. KG, King Power International, Lotte hotel, Lagardère sca (lagardère travel retail), LVMH Group, and THE SHILLA DUTY-FREE are the key players in the market.
Airport placed under the sales channel type segment is the market’s fastest-growing segment.
1. Executive Summary |
2. Global Travel Retail Market Introduction |
2.1. Global Travel Retail Market – Taxonomy |
2.2. Global Travel Retail Market –Definitions |
2.2.1. Product Type |
2.2.2. Sale Channel |
2.2.3. Sector |
2.2.4. End User |
2.2.5. By Region |
3. Global Travel Retail Market Dynamics |
3.1. Drivers |
3.2. Restraints |
3.3. Opportunities/Unmet Needs of the Market |
3.4. Trends |
3.5. Global Travel Retail Market Dynamic Factors - Impact Analysis |
3.6. Global Travel Retail Market – Competition Landscape |
3.7. Epidemiology |
4. Global Travel Retail Market Analysis, 2017-2021 and Forecast, 2022-2028 |
4.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) |
4.3. Market Opportunity Analysis |
5. Global Travel Retail Market, By Product Type, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
5.1. Perfume and Cosmetics |
5.1.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.1.3. Market Opportunity Analysis |
5.2. Wine and Spirit |
5.2.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.2.3. Market Opportunity Analysis |
5.3. Electronics |
5.3.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
5.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.3.3. Market Opportunity Analysis |
5.4. Luxury Goods |
5.4.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
5.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.4.3. Market Opportunity Analysis |
5.5. Food |
5.5.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
5.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.5.3. Market Opportunity Analysis |
5.6. Confectionery and Catering |
5.6.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
5.6.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.6.3. Market Opportunity Analysis |
5.7. Tobacco |
5.7.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
5.7.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.7.3. Market Opportunity Analysis |
5.8. Others |
5.8.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
5.8.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.8.3. Market Opportunity Analysis |
6. Global Travel Retail Market, By Sale Channel, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
6.1. Airport |
6.1.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.1.3. Market Opportunity Analysis |
6.2. Cruise Liner |
6.2.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.2.3. Market Opportunity Analysis |
6.3. Railway Station |
6.3.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.3.3. Market Opportunity Analysis |
6.4. Border |
6.4.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
6.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.4.3. Market Opportunity Analysis |
6.5. Downtown |
6.5.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
6.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.5.3. Market Opportunity Analysis |
6.6. Hotel Shop |
6.6.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
6.6.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.6.3. Market Opportunity Analysis |
7. Global Travel Retail Market, By Sector, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
7.1. Duty-Free |
7.1.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.1.3. Market Opportunity Analysis |
7.2. Duty Paid |
7.2.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.2.3. Market Opportunity Analysis |
8. Global Travel Retail Market, By End User, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
8.1. Children (Less Than 18 Years Old) |
8.1.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
8.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.1.3. Market Opportunity Analysis |
8.2. Youth (18-30 Years Old) |
8.2.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
8.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.2.3. Market Opportunity Analysis |
8.3. Middle-Aged (18-59 Years Old) |
8.3.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
8.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.3.3. Market Opportunity Analysis |
8.4. The Elder (Greater Than 60 Years Old) |
8.4.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
8.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.4.3. Market Opportunity Analysis |
9. Global Travel Retail Market Forecast, By Region, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
9.1. North America |
9.1.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
9.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
9.1.3. Market Opportunity Analysis |
9.2. Europe |
9.2.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
9.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
9.2.3. Market Opportunity Analysis |
9.3. Asia-Pacific |
9.3.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
9.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
9.3.3. Market Opportunity Analysis |
9.4. Latin America |
9.4.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
9.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
9.4.3. Market Opportunity Analysis |
9.5. Middle East and Africa |
9.5.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
9.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
9.5.3. Market Opportunity Analysis |
9.6. Global Travel Retail Market - Opportunity Analysis Index, By Product Type, By Sale Channel, By Sector, By End User, and Region, 2022-2028 |
10. North America Travel Retail Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
10.1. Product Type Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
10.1.1. Perfume and Cosmetics |
10.1.2. Wine and Spirit |
10.1.3. Electronics |
10.1.4. Luxury Goods |
10.1.5. Food |
10.1.6. Confectionery and Catering |
10.1.7. Tobacco |
10.1.8. Others |
10.2. Sale Channel Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
10.2.1. Airport |
10.2.2. Cruise Liner |
10.2.3. Railway Station |
10.2.4. Border |
10.2.5. Downtown |
10.2.6. Hotel Shop |
10.3. Sector Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
10.3.1. Duty-Free |
10.3.2. Duty Paid |
10.4. End User Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
10.4.1. Children (Less Than 18 Years Old) |
10.4.2. Youth (18-30 Years Old) |
10.4.3. Middle-Aged (18-59 Years Old) |
10.4.4. The Elder (Greater Than 60 Years Old) |
10.5. Country Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
10.5.1. USA |
10.5.2. Canada |
10.6. North America Travel Retail Market - Opportunity Analysis Index, By Product Type, By Sale Channel, By Sector, By End User, and Country, 2022-2028 |
10.7. North America Travel Retail Market Dynamics – Trends |
11. Europe Travel Retail Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
11.1. Product Type Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
11.1.1. Perfume and Cosmetics |
11.1.2. Wine and Spirit |
11.1.3. Electronics |
11.1.4. Luxury Goods |
11.1.5. Food |
11.1.6. Confectionery and Catering |
11.1.7. Tobacco |
11.1.8. Others |
11.2. Sale Channel Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
11.2.1. Airport |
11.2.2. Cruise Liner |
11.2.3. Railway Station |
11.2.4. Border |
11.2.5. Downtown |
11.2.6. Hotel Shop |
11.3. Sector Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
11.3.1. Duty-Free |
11.3.2. Duty Paid |
11.4. End User Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
11.4.1. Children (Less Than 18 Years Old) |
11.4.2. Youth (18-30 Years Old) |
11.4.3. Middle-Aged (18-59 Years Old) |
11.4.4. The Elder (Greater Than 60 Years Old) |
11.5. Country Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
11.5.1. Germany |
11.5.2. UK |
11.5.3. France |
11.5.4. Spain |
11.5.5. Italy |
11.5.6. Rest of Europe |
11.6. Europe Travel Retail Market - Opportunity Analysis Index, By Product Type, By Sale Channel, By Sector, By End User, and Country, 2022-2028 |
11.7. Europe Travel Retail Market Dynamics – Trends |
12. Asia-Pacific Travel Retail Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
12.1. Product Type Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
12.1.1. Perfume and Cosmetics |
12.1.2. Wine and Spirit |
12.1.3. Electronics |
12.1.4. Luxury Goods |
12.1.5. Food |
12.1.6. Confectionery and Catering |
12.1.7. Tobacco |
12.1.8. Others |
12.2. Sale Channel Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
12.2.1. Airport |
12.2.2. Cruise Liner |
12.2.3. Railway Station |
12.2.4. Border |
12.2.5. Downtown |
12.2.6. Hotel Shop |
12.3. Sector Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
12.3.1. Duty-Free |
12.3.2. Duty Paid |
12.4. End User Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
12.4.1. Children (Less Than 18 Years Old) |
12.4.2. Youth (18-30 Years Old) |
12.4.3. Middle-Aged (18-59 Years Old) |
12.4.4. The Elder (Greater Than 60 Years Old) |
12.5. Country Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
12.5.1. China |
12.5.2. India |
12.5.3. Japan |
12.5.4. ASEAN |
12.5.5. Australia & New Zealand |
12.5.6. Rest of Asia-Pacific |
12.6. Asia-Pacific Travel Retail Market - Opportunity Analysis Index, By Product Type, By Sale Channel, By Sector, By End User, and Country, 2022-2028 |
12.7. Asia-Pacific Travel Retail Market Dynamics – Trends |
13. Latin America Travel Retail Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
13.1. Product Type Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
13.1.1. Perfume and Cosmetics |
13.1.2. Wine and Spirit |
13.1.3. Electronics |
13.1.4. Luxury Goods |
13.1.5. Food |
13.1.6. Confectionery and Catering |
13.1.7. Tobacco |
13.1.8. Others |
13.2. Sale Channel Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
13.2.1. Airport |
13.2.2. Cruise Liner |
13.2.3. Railway Station |
13.2.4. Border |
13.2.5. Downtown |
13.2.6. Hotel Shop |
13.3. Sector Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
13.3.1. Duty-Free |
13.3.2. Duty Paid |
13.4. End User Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
13.4.1. Children (Less Than 18 Years Old) |
13.4.2. Youth (18-30 Years Old) |
13.4.3. Middle-Aged (18-59 Years Old) |
13.4.4. The Elder (Greater Than 60 Years Old) |
13.5. Country Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
13.5.1. Brazil |
13.5.2. Mexico |
13.5.3. Rest of Latin America |
13.6. Latin America Travel Retail Market - Opportunity Analysis Index, By Product Type, By Sale Channel, By Sector, By End User, and Country, 2022-2028 |
13.7. Latin America Travel Retail Market Dynamics – Trends |
14. Middle East and Africa Travel Retail Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
14.1. Product Type Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
14.1.1. Perfume and Cosmetics |
14.1.2. Wine and Spirit |
14.1.3. Electronics |
14.1.4. Luxury Goods |
14.1.5. Food |
14.1.6. Confectionery and Catering |
14.1.7. Tobacco |
14.1.8. Others |
14.2. Sale Channel Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
14.2.1. Airport |
14.2.2. Cruise Liner |
14.2.3. Railway Station |
14.2.4. Border |
14.2.5. Downtown |
14.2.6. Hotel Shop |
14.3. Sector Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
14.3.1. Duty-Free |
14.3.2. Duty Paid |
14.4. End User Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
14.4.1. Children (Less Than 18 Years Old) |
14.4.2. Youth (18-30 Years Old) |
14.4.3. Middle-Aged (18-59 Years Old) |
14.4.4. The Elder (Greater Than 60 Years Old) |
14.5. Country Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
14.5.1. Gulf Cooperation Council (GCC) Countries |
14.5.2. South Africa |
14.5.3. Rest of MEA |
14.6. MEA Travel Retail Market- Opportunity Analysis Index, By Product Type, By Sale Channel, By Sector, By End User, and Country, 2022-2028 |
14.7. MEA Travel Retail Market Dynamics – Trends |
15. Competition Landscape |
15.1. Strategic Dashboard of Top Market Players |
15.2. Company Profiles (Introduction, Financial Analysis, Key Product Types, Key Developments, Strategies, and SWOT Analysis) |
15.2.1. Aer Rianta International |
15.2.2. China Tourism Group Duty-Free Corporation Limited |
15.2.3. DUFRY GROUP |
15.2.4. Duty-Free Americas, Inc |
15.2.5. Gebr. Heinemann SE & Co. KG |
15.2.6. King Power International. |
15.2.7. Lotte hotel |
15.2.8. Lagardère sca (lagardère travel retail) |
15.2.9. LVMH Group |
15.2.10. THE SHILLA DUTY-FREE |
16. Research Methodology |
17. Key Assumptions and Acronyms |