Duty Free Retailing Market: Sales Channel Analysis and Forecast (2021-2027) Trends, Statistics, Dynamics, Segmentation by Product Type, Sales Channel and Region

Duty Free Retailing Market was valued nearly US$ 85.40 Bn. in 2021. Duty Free Retailing Market size is estimated to grow at a CAGR of 6.8 % & is expected to reach at US$ 135.35 Bn. by 2027

Duty Free Retailing Market Overview:

Duty-free shopping takes place mostly in international airports & ship terminals, and it is a heavily regulated industry. Free retail shops provide duty-free goods which are subject to various jurisdictions & rules based on the calculation, allowable restrictions, & a variety of other variables. The global travel and tourism business, as well as the aviation industry, rely on duty-free commerce for revenue. The duty-free retailing business is one of the most important sources of non-aeronautical revenue. These stores are not accessible to the general public; entry to the commercial area requires travel documentation. The key driving force for the market is rising tourism & the availability of lower costs. The increase in people's desire to travel to other parts of the world is expected to be the primary driver of market expansion. The market is expected to rise significantly in the forecast period due to an increase in the number of travelers. Furthermore, the industry contains a huge number of businesses who provide products to customers at very low prices when compared to other retail outlets. Because of different taxes which have been waived, the costs of these products are extremely low. A large number of passengers prefer to purchase expensive & luxurious items that are available to them at significantly reduced prices due to tax exemptions; this factor is expected to drive the market over the estimate period. Duty Free Retailing Market To know about the Research Methodology :- Request Free Sample Report Government regulation is expected to stifle the expansion of the duty-free retail market. The government of various countries has established varied laws & restrictions for duty-free shopping in retail stores. Strict laws & regulations governing the addition of new products, particularly for local manufacturers & small and medium businesses (SMEs), present a barrier for the market because these businesses cannot afford to rent a space in various duty-free retail establishments. Furthermore, the language barrier is seen as a key impediment to the duty-free retail business. The buyer & seller will be unable to communicate effectively, creating a chasm between them that will stifle market growth during the forecast period. The duty-free retail business is expected to benefit greatly from improved consumer experience. Over the forecast period, increasing customer experiences & delivering various services to customers may provide a major opportunity in the market. Traveling provides a significant boost to economic operations, while the distribution channel provides a better buying experience. Over the forecast period, the cosmetic & personal care product type is expected to have the largest share. In the year 2021, the cosmetic & personal care product care type segment had a market value of $ xx Mn, & it is expected to increase at a CAGR of 7.6% during the forecast period. Passengers prefer expensive items which are available at a significantly lower price due to excise duty exemptions in various areas, so the segment is expected to grow. Customers who prefer cosmetic & personal care goods for personal use or as gifts are expected to fuel the segment's growth during the projected period. The airport distribution channel is expected to grow dramatically. In the year 2021, the airport distribution channel segment had a market value of $xx Mn, & it is expected to increase at an annual rate of 8.5 % over the forecast period. The airport has become one of the most important venues for businesses to demonstrate their products & raise brand awareness among their clients. Because of the price flexibility afforded by the airport distribution channel, retail shops have a lot of opportunities to contact customers. The duty-free retailing market's airport distribution channel segment is expected to grow throughout the forecast period for the reasons stated above.

Duty Free Retailing Market Regional Overview:

The APAC region is expected to have the largest market share in the global duty-free retailing market. In the year 2021, the APAC market was worth $xx Mn, and it is expected to rise at a CAGR of 7.9 percent during the forecast period. The market in the APAC region is expected to expand as disposable income rises with the growing middle-class population. Furthermore, throughout the projected period, the presence of a significant number of global companies in the retail sector is expected to enhance the market in the area. The duty-free shopping sector in Europe is expected to increase dramatically during the forecast period. The market in Europe was $ xx Mn in the year 2021, and it is expected to increase at an annual rate of 8.8 percent over the forecast period. Due to an increase in the number of international tourists & the availability of low-cost flights in the region, the market for the region is expected to grow. Porter’s Analysis: Duty Free Retailing Market The objective of the report is to present a comprehensive analysis of the Duty Free Retailing Market to the stakeholders in the Sales Channel. The past and current status of the Sales Channel with the forecasted Market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the Sales Channel with a dedicated study of key players which include Market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the Market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the Sales Channel to the decision-makers. The report also helps in understanding the Duty Free Retailing Market dynamics, structure by analyzing the Market segments and project the Duty Free Retailing Market size. Clear representation of competitive analysis of key players by Product Type, price, financial position, Product Type portfolio, growth strategies, and regional presence in the Duty Free Retailing Market make the report investor’s guide.

Duty Free Retailing Market Scope: Inquiry Before Buying

Duty Free Retailing Market
Report Coverage Details
Base Year: 2021 Forecast Period: 2022-2027
Historical Data: 2017 to 2021 Market Size in 2021: US $ 85.40 Bn.
Forecast Period 2022 to 2027 CAGR: 6.8% Market Size in 2027: US $ 135.35 Bn.
Segments Covered: by Product Type • Fragrances & Cosmetics • Wines & Spirits • Fashion & Accessories • Tobacco • Watches & Jewelry • Confectionary & Fine Food • Electronics & Gifts • Others
by Sales Channel • Airport Shops • Airlines • Others

Duty Free Retailing Market, by Region

• North America • Europe • Asia-Pacific • MEA &Africa • Latin America

Duty Free Retailing Market Major Players:

Dufry AG • LOTTE Duty Free Company • DFS Group Limited, Gebr. • Heinemann SE & Co. KG, • The Shilla Duty Free • The King Power International Group • James Richardson Corporation Pty Ltd • Duty Free Americas, Inc • Flemingo International Ltd • Dubai Duty Free • China Duty Free Group Co., Ltd • Others FAQ’S: 1) What is the share of the Global Duty Free Retailing Market in 2021? Answer: The Global Duty Free Retailing Market was accounted for 85.40 Bn in the year 2021. 2) Which Sales Channel segment is dominating the Global Duty Free Retailing Market? Answer: Air Purification segment is the dominating Sales Channel segment in the market. 3) What are the key players in the Global Duty Free Retailing Market? Answer: Dufry AG, LOTTE Duty Free Company, DFS Group Limited, Gebr. Heinemann SE & Co. KG, The Shilla Duty Free, The King Power International Group, James Richardson Corporation Pty Ltd, Duty Free Americas, Inc, Flemingo International Ltd, Dubai Duty Free, China Duty Free Group Co., Ltd, Others. 4) Which region has the largest share in Global Duty Free Retailing Market?? Answer: Europe region holds the highest share in 2021.
1. Global Duty Free Retailing Market: Research Methodology 2. Global Duty Free Retailing Market: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Duty Free Retailing Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Duty Free Retailing Market: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12. COVID-19 Impact 4. Global Duty Free Retailing Market Segmentation 4.1. Global Duty Free Retailing Market, by Product Type (2021-2027) • Fragrances & Cosmetics • Wines & Spirits • Fashion & Accessories • Tobacco • Watches & Jewelry • Confectionary & Fine Food • Electronics & Gifts • Others 4.2. Global Duty Free Retailing Market, by Sales Channel (2021-2027) • Airport Shops • Airlines • Others 5. North America Duty Free Retailing Market(2021-2027) 5.1. North America Duty Free Retailing Market, by Product Type (2021-2027) • Fragrances & Cosmetics • Wines & Spirits • Fashion & Accessories • Tobacco • Watches & Jewelry • Confectionary & Fine Food • Electronics & Gifts • Others 5.2. North America Duty Free Retailing Market, by Sales Channel (2021-2027) • Airport Shops • Airlines • Others 5.3. North America Duty Free Retailing Market, by Country (2021-2027) • United States • Canada • Mexico 6. European Duty Free Retailing Market (2021-2027) 6.1. European Duty Free Retailing Market, by Product Type (2021-2027) 6.2. European Duty Free Retailing Market, by Sales Channel (2021-2027) 6.3. European Duty Free Retailing Market, by Country (2021-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Duty Free Retailing Market (2021-2027) 7.1. Asia Pacific Duty Free Retailing Market, by Product Type (2021-2027) 7.2. Asia-Pacific Duty Free Retailing Market, by Sales Channel (2021-2027) 7.3. Asia Pacific Duty Free Retailing Market, by Country (2021-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Duty Free Retailing Market (2021-2027) 8.1. Middle East and Africa Duty Free Retailing Market, by Product Type (2021-2027) 8.2. Middle East and Africa Duty Free Retailing Market, by Sales Channel (2021-2027) 8.3. Middle East and Africa Duty Free Retailing Market, by Country (2021-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. Latin America Duty Free Retailing Market (2021-2027) 9.1. Latin America Duty Free Retailing Market, by Product Type (2021-2027) 9.2. Latin America Duty Free Retailing Market, by Sales Channel (2021-2027) 9.3. Latin America Duty Free Retailing Market, by Country (2021-2027) • Brazil • Argentina • Rest Of Latin America 10. Company Profile: Key players 10.1. Dufry AG. 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. LOTTE Duty Free Company 10.3. DFS Group Limited, Gebr. 10.4. Heinemann SE & Co. KG, 10.5. The Shilla Duty Free 10.6. The King Power International Group 10.7. James Richardson Corporation Pty Ltd 10.8. Duty Free Americas, Inc 10.9. Flemingo International Ltd 10.10. Dubai Duty Free 10.11. China Duty Free Group Co., Ltd 10.12. Others.

About This Report

Report ID 145803
Category Consumer Goods & Services
Published Date May 2022
Updated Date
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