Duty Free Retailing Market: Sales Channel Analysis and Forecast (2023-2029)

Duty Free Retailing Market was valued nearly US$ 91.20 Bn. in 2022. Duty Free Retailing Market size is estimated to grow at a CAGR of 6.8% & is expected to reach at US$ 144.55 Bn. by 2029.

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 MarketTo 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 2022, 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 2022, 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 2022, 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 2022, 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.

Duty Free Retailing Market Porter’s Analysis:

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: 2022 Forecast Period: 2023-2029
Historical Data: 2018 to 2022 Market Size in 2022: US $ 91.20 Bn.
Forecast Period 2023 to 2029 CAGR: 6.8% Market Size in 2029: US $ 144.55 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 (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina Rest of South America)

Duty Free Retailing Market Key Players

1. Dufry AG 2. LOTTE Duty Free Company 3. DFS Group Limited, Gebr. 4. Heinemann SE & Co. KG, 5. The Shilla Duty Free 6. The King Power International Group 7. James Richardson Corporation Pty Ltd 8. Duty Free Americas, Inc 9. Flemingo International Ltd 10.Dubai Duty Free 11.China Duty Free Group Co., Ltd 12.Others Frequently Asked Questions: 1. Which region has the largest share in Global Duty Free Retailing Market? Ans: Asia Pacific region held the highest share in 2022. 2. What is the growth rate of Global Duty Free Retailing Market? Ans: The Global Duty Free Retailing Market is growing at a CAGR of 6.8% during forecasting period 2023-2029. 3. What is scope of the Global Duty Free Retailing Market report? Ans: Global Duty Free Retailing Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period. 4. Who are the key players in Global Duty Free Retailing Market? Ans: The important key players in the Global Duty Free Retailing Market are – 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, and Others 5. What is the study period of this Market? Ans: The Global Duty Free Retailing Market is studied from 2022 to 2029.
1. Duty Free Retailing Market Introduction 1.1. Study Assumption and Market Definition 1.2. Scope of the Study 1.3. Executive Summary 2. Duty Free Retailing Market: Dynamics 2.1. Duty Free Retailing Market Trends by Region 2.1.1. North America Duty Free Retailing Market Trends 2.1.2. Europe Duty Free Retailing Market Trends 2.1.3. Asia Pacific Duty Free Retailing Market Trends 2.1.4. Middle East and Africa Duty Free Retailing Market Trends 2.1.5. South America Duty Free Retailing Market Trends 2.2. Duty Free Retailing Market Dynamics by Region 2.2.1. North America 2.2.1.1. North America Duty Free Retailing Market Drivers 2.2.1.2. North America Duty Free Retailing Market Restraints 2.2.1.3. North America Duty Free Retailing Market Opportunities 2.2.1.4. North America Duty Free Retailing Market Challenges 2.2.2. Europe 2.2.2.1. Europe Duty Free Retailing Market Drivers 2.2.2.2. Europe Duty Free Retailing Market Restraints 2.2.2.3. Europe Duty Free Retailing Market Opportunities 2.2.2.4. Europe Duty Free Retailing Market Challenges 2.2.3. Asia Pacific 2.2.3.1. Asia Pacific Duty Free Retailing Market Drivers 2.2.3.2. Asia Pacific Duty Free Retailing Market Restraints 2.2.3.3. Asia Pacific Duty Free Retailing Market Opportunities 2.2.3.4. Asia Pacific Duty Free Retailing Market Challenges 2.2.4. Middle East and Africa 2.2.4.1. Middle East and Africa Duty Free Retailing Market Drivers 2.2.4.2. Middle East and Africa Duty Free Retailing Market Restraints 2.2.4.3. Middle East and Africa Duty Free Retailing Market Opportunities 2.2.4.4. Middle East and Africa Duty Free Retailing Market Challenges 2.2.5. South America 2.2.5.1. South America Duty Free Retailing Market Drivers 2.2.5.2. South America Duty Free Retailing Market Restraints 2.2.5.3. South America Duty Free Retailing Market Opportunities 2.2.5.4. South America Duty Free Retailing Market Challenges 2.3. PORTER’s Five Forces Analysis 2.4. PESTLE Analysis 2.5. Technology Roadmap 2.6. Regulatory Landscape by Region 2.6.1. North America 2.6.2. Europe 2.6.3. Asia Pacific 2.6.4. Middle East and Africa 2.6.5. South America 2.7. Key Opinion Leader Analysis For Duty Free Retailing Industry 2.8. Analysis of Government Schemes and Initiatives For Duty Free Retailing Industry 2.9. Duty Free Retailing Market Trade Analysis 2.10. The Global Pandemic Impact on Duty Free Retailing Market 3. Duty Free Retailing Market: Global Market Size and Forecast by Segmentation by Demand and Supply Side (by Value in USD Million) 2022-2029 3.1. Duty Free Retailing Market Size and Forecast, by Product Type (2022-2029) 3.1.1. Fragrances & Cosmetics 3.1.2. Wines & Spirits 3.1.3. Fashion & Accessories 3.1.4. Tobacco 3.1.5. Watches & Jewelry 3.1.6. Confectionary & Fine Food 3.1.7. Electronics & Gifts 3.1.8. Others 3.2. Duty Free Retailing Market Size and Forecast, by Sales Channel (2022-2029) 3.2.1. Airport Shops 3.2.2. Airlines 3.2.3. Others 3.3. Duty Free Retailing Market Size and Forecast, by Region (2022-2029) 3.3.1. North America 3.3.2. Europe 3.3.3. Asia Pacific 3.3.4. Middle East and Africa 3.3.5. South America 4. North America Duty Free Retailing Market Size and Forecast by Segmentation (by Value in USD Million) 2022-2029 4.1. North America Duty Free Retailing Market Size and Forecast, by Product Type (2022-2029) 4.1.1. Fragrances & Cosmetics 4.1.2. Wines & Spirits 4.1.3. Fashion & Accessories 4.1.4. Tobacco 4.1.5. Watches & Jewelry 4.1.6. Confectionary & Fine Food 4.1.7. Electronics & Gifts 4.1.8. Others 4.2. North America Duty Free Retailing Market Size and Forecast, by Sales Channel (2022-2029) 4.2.1. Airport Shops 4.2.2. Airlines 4.2.3. Others 4.3. North America Duty Free Retailing Market Size and Forecast, by Country (2022-2029) 4.3.1. United States 4.3.1.1. United States Duty Free Retailing Market Size and Forecast, by Product Type (2022-2029) 4.3.1.1.1. Fragrances & Cosmetics 4.3.1.1.2. Wines & Spirits 4.3.1.1.3. Fashion & Accessories 4.3.1.1.4. Tobacco 4.3.1.1.5. Watches & Jewelry 4.3.1.1.6. Confectionary & Fine Food 4.3.1.1.7. Electronics & Gifts 4.3.1.1.8. Others 4.3.1.2. United States Duty Free Retailing Market Size and Forecast, by Sales Channel (2022-2029) 4.3.1.2.1. Airport Shops 4.3.1.2.2. Airlines 4.3.1.2.3. Others 4.3.2. Canada 4.3.2.1. Canada Duty Free Retailing Market Size and Forecast, by Product Type (2022-2029) 4.3.2.1.1. Fragrances & Cosmetics 4.3.2.1.2. Wines & Spirits 4.3.2.1.3. Fashion & Accessories 4.3.2.1.4. Tobacco 4.3.2.1.5. Watches & Jewelry 4.3.2.1.6. Confectionary & Fine Food 4.3.2.1.7. Electronics & Gifts 4.3.2.1.8. Others 4.3.2.2. Canada Duty Free Retailing Market Size and Forecast, by Sales Channel (2022-2029) 4.3.2.2.1. Airport Shops 4.3.2.2.2. Airlines 4.3.2.2.3. Others 4.3.3. Mexico 4.3.3.1. Mexico Duty Free Retailing Market Size and Forecast, by Product Type (2022-2029) 4.3.3.1.1. Fragrances & Cosmetics 4.3.3.1.2. Wines & Spirits 4.3.3.1.3. Fashion & Accessories 4.3.3.1.4. Tobacco 4.3.3.1.5. Watches & Jewelry 4.3.3.1.6. Confectionary & Fine Food 4.3.3.1.7. Electronics & Gifts 4.3.3.1.8. Others 4.3.3.2. Mexico Duty Free Retailing Market Size and Forecast, by Sales Channel (2022-2029) 4.3.3.2.1. Airport Shops 4.3.3.2.2. Airlines 4.3.3.2.3. Others 5. Europe Duty Free Retailing Market Size and Forecast by Segmentation (by Value in USD Million) 2022-2029 5.1. Europe Duty Free Retailing Market Size and Forecast, by Product Type (2022-2029) 5.2. Europe Duty Free Retailing Market Size and Forecast, by Sales Channel (2022-2029) 5.3. Europe Duty Free Retailing Market Size and Forecast, by Country (2022-2029) 5.3.1. United Kingdom 5.3.1.1. United Kingdom Duty Free Retailing Market Size and Forecast, by Product Type (2022-2029) 5.3.1.2. United Kingdom Duty Free Retailing Market Size and Forecast, by Sales Channel (2022-2029) 5.3.2. France 5.3.2.1. France Duty Free Retailing Market Size and Forecast, by Product Type (2022-2029) 5.3.2.2. France Duty Free Retailing Market Size and Forecast, by Sales Channel (2022-2029) 5.3.3. Germany 5.3.3.1. Germany Duty Free Retailing Market Size and Forecast, by Product Type (2022-2029) 5.3.3.2. Germany Duty Free Retailing Market Size and Forecast, by Sales Channel (2022-2029) 5.3.4. Italy 5.3.4.1. Italy Duty Free Retailing Market Size and Forecast, by Product Type (2022-2029) 5.3.4.2. Italy Duty Free Retailing Market Size and Forecast, by Sales Channel (2022-2029) 5.3.5. Spain 5.3.5.1. Spain Duty Free Retailing Market Size and Forecast, by Product Type (2022-2029) 5.3.5.2. Spain Duty Free Retailing Market Size and Forecast, by Sales Channel (2022-2029) 5.3.6. Sweden 5.3.6.1. Sweden Duty Free Retailing Market Size and Forecast, by Product Type (2022-2029) 5.3.6.2. Sweden Duty Free Retailing Market Size and Forecast, by Sales Channel (2022-2029) 5.3.7. Austria 5.3.7.1. Austria Duty Free Retailing Market Size and Forecast, by Product Type (2022-2029) 5.3.7.2. Austria Duty Free Retailing Market Size and Forecast, by Sales Channel (2022-2029) 5.3.8. Rest of Europe 5.3.8.1. Rest of Europe Duty Free Retailing Market Size and Forecast, by Product Type (2022-2029) 5.3.8.2. Rest of Europe Duty Free Retailing Market Size and Forecast, by Sales Channel (2022-2029) 6. Asia Pacific Duty Free Retailing Market Size and Forecast by Segmentation (by Value in USD Million) 2022-2029 6.1. Asia Pacific Duty Free Retailing Market Size and Forecast, by Product Type (2022-2029) 6.2. Asia Pacific Duty Free Retailing Market Size and Forecast, by Sales Channel (2022-2029) 6.3. Asia Pacific Duty Free Retailing Market Size and Forecast, by Country (2022-2029) 6.3.1. China 6.3.1.1. China Duty Free Retailing Market Size and Forecast, by Product Type (2022-2029) 6.3.1.2. China Duty Free Retailing Market Size and Forecast, by Sales Channel (2022-2029) 6.3.2. S Korea 6.3.2.1. S Korea Duty Free Retailing Market Size and Forecast, by Product Type (2022-2029) 6.3.2.2. S Korea Duty Free Retailing Market Size and Forecast, by Sales Channel (2022-2029) 6.3.3. Japan 6.3.3.1. Japan Duty Free Retailing Market Size and Forecast, by Product Type (2022-2029) 6.3.3.2. Japan Duty Free Retailing Market Size and Forecast, by Sales Channel (2022-2029) 6.3.4. India 6.3.4.1. India Duty Free Retailing Market Size and Forecast, by Product Type (2022-2029) 6.3.4.2. India Duty Free Retailing Market Size and Forecast, by Sales Channel (2022-2029) 6.3.5. Australia 6.3.5.1. Australia Duty Free Retailing Market Size and Forecast, by Product Type (2022-2029) 6.3.5.2. Australia Duty Free Retailing Market Size and Forecast, by Sales Channel (2022-2029) 6.3.6. Indonesia 6.3.6.1. Indonesia Duty Free Retailing Market Size and Forecast, by Product Type (2022-2029) 6.3.6.2. Indonesia Duty Free Retailing Market Size and Forecast, by Sales Channel (2022-2029) 6.3.7. Malaysia 6.3.7.1. Malaysia Duty Free Retailing Market Size and Forecast, by Product Type (2022-2029) 6.3.7.2. Malaysia Duty Free Retailing Market Size and Forecast, by Sales Channel (2022-2029) 6.3.8. Vietnam 6.3.8.1. Vietnam Duty Free Retailing Market Size and Forecast, by Product Type (2022-2029) 6.3.8.2. Vietnam Duty Free Retailing Market Size and Forecast, by Sales Channel (2022-2029) 6.3.9. Taiwan 6.3.9.1. Taiwan Duty Free Retailing Market Size and Forecast, by Product Type (2022-2029) 6.3.9.2. Taiwan Duty Free Retailing Market Size and Forecast, by Sales Channel (2022-2029) 6.3.10. Rest of Asia Pacific 6.3.10.1. Rest of Asia Pacific Duty Free Retailing Market Size and Forecast, by Product Type (2022-2029) 6.3.10.2. Rest of Asia Pacific Duty Free Retailing Market Size and Forecast, by Sales Channel (2022-2029) 7. Middle East and Africa Duty Free Retailing Market Size and Forecast by Segmentation (by Value in USD Million) 2022-2029 7.1. Middle East and Africa Duty Free Retailing Market Size and Forecast, by Product Type (2022-2029) 7.2. Middle East and Africa Duty Free Retailing Market Size and Forecast, by Sales Channel (2022-2029) 7.3. Middle East and Africa Duty Free Retailing Market Size and Forecast, by Country (2022-2029) 7.3.1. South Africa 7.3.1.1. South Africa Duty Free Retailing Market Size and Forecast, by Product Type (2022-2029) 7.3.1.2. South Africa Duty Free Retailing Market Size and Forecast, by Sales Channel (2022-2029) 7.3.2. GCC 7.3.2.1. GCC Duty Free Retailing Market Size and Forecast, by Product Type (2022-2029) 7.3.2.2. GCC Duty Free Retailing Market Size and Forecast, by Sales Channel (2022-2029) 7.3.3. Nigeria 7.3.3.1. Nigeria Duty Free Retailing Market Size and Forecast, by Product Type (2022-2029) 7.3.3.2. Nigeria Duty Free Retailing Market Size and Forecast, by Sales Channel (2022-2029) 7.3.4. Rest of ME&A 7.3.4.1. Rest of ME&A Duty Free Retailing Market Size and Forecast, by Product Type (2022-2029) 7.3.4.2. Rest of ME&A Duty Free Retailing Market Size and Forecast, by Sales Channel (2022-2029) 8. South America Duty Free Retailing Market Size and Forecast by Segmentation (by Value in USD Million) 2022-2029 8.1. South America Duty Free Retailing Market Size and Forecast, by Product Type (2022-2029) 8.2. South America Duty Free Retailing Market Size and Forecast, by Sales Channel (2022-2029) 8.3. South America Duty Free Retailing Market Size and Forecast, by Country (2022-2029) 8.3.1. Brazil 8.3.1.1. Brazil Duty Free Retailing Market Size and Forecast, by Product Type (2022-2029) 8.3.1.2. Brazil Duty Free Retailing Market Size and Forecast, by Sales Channel (2022-2029) 8.3.2. Argentina 8.3.2.1. Argentina Duty Free Retailing Market Size and Forecast, by Product Type (2022-2029) 8.3.2.2. Argentina Duty Free Retailing Market Size and Forecast, by Sales Channel (2022-2029) 8.3.3. Rest Of South America 8.3.3.1. Rest Of South America Duty Free Retailing Market Size and Forecast, by Product Type (2022-2029) 8.3.3.2. Rest Of South America Duty Free Retailing Market Size and Forecast, by Sales Channel (2022-2029) 9. Global Duty Free Retailing Market: Competitive Landscape 9.1. MMR Competition Matrix 9.2. Competitive Landscape 9.3. Key Players Benchmarking 9.3.1. Company Name 9.3.2. Business Segment 9.3.3. End-user Segment 9.3.4. Revenue (2022) 9.3.5. Company Locations 9.4. Leading Duty Free Retailing Market Companies, by market capitalization 9.5. Market Structure 9.5.1. Market Leaders 9.5.2. Market Followers 9.5.3. Emerging Players 9.6. Mergers and Acquisitions Details 10. Company Profile: Key Players 10.1. Dufry AG 10.1.1. Company Overview 10.1.2. Business Portfolio 10.1.3. Financial Overview 10.1.4. SWOT Analysis 10.1.5. Strategic Analysis 10.1.6. Scale of Operation (small, medium, and large) 10.1.7. Details on Partnership 10.1.8. Regulatory Accreditations and Certifications Received by Them 10.1.9. Awards Received by the Firm 10.1.10. 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 11. Key Findings 12. Industry Recommendations 13. Duty Free Retailing Market: Research Methodology 14. Terms and Glossary
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