Travel Retail Market Future Prospects and Forecast To 2030
The global travel retail market size was valued at USD 62.3 billion in 2023 and is poised to grow at a significant CAGR of 15.2% during the forecast period 2024-30. It also includes market size and projection estimations for each of the five major regions from 2024to 2030. The research report includes historical data, trending features, and market growth estimates for the future. Furthermore, the study includes a global and regional estimation and further split by nations and categories within each region. The research also includes factors and barriers to the travel retail market growth, as well as their impact on the market's future growth. The report gives a comprehensive overview of both primary and secondary data.
The global travel retail market segmentation:
1. By Product Type (Perfume and Cosmetics, Wine and Spirit, Electronics, Luxury Goods, Food, Confectionery and Catering, Tobacco, and Others.
2. By Sales Channel (Airport, Cruise Liner, Railway Station, Border, Downtown, and Hotel Shop),
3. By Sector (Duty-Free and Duty Paid.
4. By End Users: Children (Less Than 18 Years Old), Youth (18-30 Years Old), Middle-Aged (18-59 Years Old), and The Elder (Greater Than 60 Years Old.
The travel retail market report helps to provide the best results for business enhancement and business growth. It further helps to obtain the reactions of consumers to a novel product or service. It becomes possible for business players to take action for changing perceptions. It uncovers and identifies potential issues of the customers. It becomes easy to obtain the reactions of the customers to a novel product or service. It also enlightens further advancement, so it suits its intended market.
The travel retail market research report gives a comprehensive outlook across the region with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America was the largest region in the travel retail market report, accounting for the highest share in 2023 It was followed by Asia Pacific, and then the other regions.
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The important profiles and strategies adopted by travel retail market key players are Aer Rianta International China Tourism Group Duty-Free Corporation Limited DUFRY GROUP Duty-Free Americas, Inc Heinemann SE & Co. KG King Power International. Lotte hotel Lagardère sca (lagardère travel retail) LVMH Group THE SHILLA DUTY-FREE, covered here to help them in strengthening their place in the market.
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