Travel Retail Market Overview

Maximize Market Research, a leading international business consultancy firm, has released its highly anticipated "Travel RetailMarket" Report, providing crucial insights into the market's potential in the Asia Pacific region. Despite economic challenges post the Covid lockdown period, the market has showcased resilience and an upward trend. The report positions the Asia Pacific region as a lucrative opportunity forTravel Retailmarket and its component manufacturers over the next decade.

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Travel Retail Market Dynamics

Product demand is fueled by the rising number of domestic and international passengers, which propels market expansion. Compared to previous generations, millennials take longer vacations and aren't content to partake in the same activities every time they go on vacation. They want travel experiences that are distinctively their own and diverse. Travelers in their millennial years prefer to unwind on one trip, see family on another, and then take a romantic vacation on the third. Their love of variety and desire to sample a range of holiday experiences is great news for destinations and travel companies.

Travel Retail Market Segmentation

by Product

Fashion and accessories
Perfume and cosmetics
Electronics
Food
Confectionery products
Bakery products
Catering
Luxury goods
Watches
Jewelry
Wine spirits
Tobacco
Others

In terms of product segmentation, The biggest revenue share in 2023 was held by the perfume and cosmetics section due to the increasing sales of various personal care products across several retail locations. Worldwide airports are seeing the construction of new boutiques by L'Oreal and other cosmetics brands. It is anticipated that this component would further propel segment growth. In 2023, wine and spirits ranked as the second-largest industry, and growth in these sales is anticipated to be steady going forward. Since they are less expensive in duty-free stores, alcoholic spirits are among the items that are most frequently purchased there.
by Sector

Duty-Free
Duty Paid
by Sales Channel

Airport
Cruise Liner
Railway Station and Border
Downtown and Hotel Shop

According to the Sales Channel Segment, the airport industry dominated the market in 2023 and held the biggest market share. The expansion of this segment is expected to be aided by an increase in air travelers due to reduced expenses and better living standards. Additionally, the retail sector in this section has grown as a result of numerous airports' initiatives to boost profitability from non-aeronautical resources. Over the course of the projection period, the category with the fastest forecasted growth is expected to be border, downtown, and hotel retailers. These stores are a representation of the newest fashions. Compared to the airport area, retailers benefit from lower rents in border and downtown areas.

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Travel RetailMarket Key Players

1. Dufry Group
2.Lotte Duty-Free
3. The Shilla Duty-Free
4. China Duty-Free Group
5. Lagardre Travel Retail
6. DFS Group
7. Gebr Heinemann
8. Shinsegae Duty-Free
9. King Power International Group (Thailand)
10. Ever Rich Duty-Free Shop
11. Dubai Duty-Free
12. Duty-Free Americas
13. Aer Rianta International
14. WHSmith
15. Japan Airport Terminal Co
16. Starboard Cruise Services
17. Flemingo International
18. 3Sixty Duty-Free
19. Hyundai Duty-Free
20. NAA Retailing
21. Qatar Duty-Free
22. Sky Connection
23. Tallink Group
24. King Power Group (Hong Kong)
25. JR/Duty-Free

Table of content for theTravel RetailMarketincludes:

Part 01: Executive Summary

Part 02: Scope of theTravel RetailMarket Report

Part 03:Travel RetailMarket Landscape

Part 04:Travel RetailMarket Sizing

Part 05:Travel RetailMarket Segmentation by Type

Part 06: Five Forces Analysis

Part 07: Customer Landscape

Part 08: Geographic Landscape

Part 09: Decision Framework

Part 10: Drivers and Challenges

Part 11: Market Trends

Part 12: Vendor Landscape

Part 13: Vendor Analysis

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Regional Analysis

TheTravel Retailmarket report comprises an extensive analysis of theTravel Retailindustry across five primary world regions are Europe, North America, Asia-Pacific, the Middle East and Africa, and Latin America. It delves into the market's key geographies and highlights notable segments and sub-segments within the industry.

Key Questions answered in theTravel RetailMarket Report are:

• What isTravel RetailMarket?
• What is the forecast period of theTravel RetailMarket?
• What is the competitive scenario of theTravel Retailmarket?
• Which region held the largest market share in theTravel RetailMarket?
• What are the opportunities for theTravel RetailMarket?
• What are the restraining factors in theTravel Retailmarket?
• Who are the key players of theTravel Retailmarket?

Key offerings:

• Market Dynamics- Growth drivers, Restraints, Investment Opportunities, and key trends
• Market Segmentation: A detailed analysis byTravel Retail
• Landscape- Leading key players and other prominent key players.

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