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Global Duty-Free Retailing Market growing at a CAGR of 10.5% from 2023 to 2030

Category : Consumer Goods | Published Date : Jun 2023

Key Market Overview

The Global Duty-Free Retailing Market was valued at USD 35,750.38 million in 2022 and is expected to register a compound annual growth rate of 10.5% to reach USD 78,379.08 million in 2030.

The report highlights the increasing demand for premium and luxury brand products among customers. Consegic Business Intelligence provides an inclusive research report on the duty-free retailing market that evaluates multiple factors, such as market size, value, supply chain, regulatory environment, and trends.

Global Duty-Free Retailing Market By Overview

Global Duty-Free Retailing Market

The report analyses significant segments including product type, sales channel, and region, to identify emerging trends and potential opportunities. The product type segment is expected to grow due to the increasing adoption of exclusive fragrances, skincare products, and cosmetics among consumers. Moreover, the increasing demand for confectionery & food items such as unique sweets, chocolates, snacks, and gourmet items among consumers is propelling the growth of the market.

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Market Dynamics

Driver:

 

  • The rapid expansion of international travel and tourism industry is driving the growth of duty-free retailing market.
  • The increasing adoption of advanced technologies including data analytics and artificial intelligence in retail stores is accelerating the growth of the market.
  • The rising number of sports events worldwide is facilitating air travel among players, resulting in the growth of duty-free retailing market.

 

Restraints:

  • Fluctuations in currency exchange rates is hindering the growth of duty-free retailing market.
  • The extremely high prices of premium brands and products in duty-free retail stores is hindering the growth of the market.

Market Segmentation:

Report Attributes Report Details
By Product Type Perfumes & Cosmetics, Wine & Spirits, Electronics, Tobacco, Confectionary & Food, Luxury Goods, and Others
By Sales Channel Airports, Railway Stations, Sea-Ports, Down-Town and Hotel Shops
By Region North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Competitive Landscape :

The global duty-free retailing market is highly competitive due to the presence of major players such as Dufry AG, LOTTE Duty-Free Company, DFS Group Limited, Heinemann SE & Co. KG, The Shilla Duty-Free, James Richardson Corporation Pty Ltd., Duty-Free Americas, Inc. operating in the global market. The market players are adopting new ways through product innovations, mergers and acquisitions, and business strategies to remain hold strong market position. Thus, evolving research and developments in duty-free retailing market are expected to help market players adopt innovative ways of product creation to cater to the growing needs of various industries.

  • Dufry AG
  • LOTTE Duty-Free Company
  • DFS Group Limited
  • Heinemann SE & Co. KG
  • The Shilla Duty-Free
  • James Richardson Corporation
  • Duty-Free Americas, Inc.
  • Flemingo International Ltd.
  • Dubai Duty-Free