Portland, OR, Nov. 12, 2020 (GLOBE NEWSWIRE) -- According to the research published by Allied Market Research, the Europe travel retail market accounted for $23.03 billion in 2017 and is projected to garner $39.60 billion by 2025, registering a CAGR of 7.2% from 2018 to 2025.
Growth in travel and tourism industry, increase in disposable income, and rapid growth in urbanization drive the growth of the Europe travel retail market. On the other hand, increase in terrorism & crime rate and stringent government rules, especially for airport retailing impede the growth. Nevertheless, surge in initiatives to develop the travel & tourism industry of the region is anticipated to usher a number of opportunities in the near future.
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Covid-19 Scenario-
- The travel and tourism industry has suffered immensely during the covid-19 outbreak owing to travel and tourism ban, in order to curb the spread of the novel coronavirus.
- The investments for future travel and tourism plans have been cancelled or delayed. Nevertheless, the government bodies in various regions have eased off the regulations. This may assist the industry to coup up soon.
Based on type, the perfumes & cosmetics segment held the largest market share in 2017, with nearly one-third of the total market. On the other hand, the luxury goods segment is expected to manifest the fastest CAGR of 9.5% during the forecast period.Other segments in the report include wine & spirits, electronics, food & confectionery, tobacco, and others.
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Based on type, the airports segment dominated the market in 2017, with nearly three-fifths of the total market share. However, the border, downtown & hotel shops segment is expected to portray the fastest CAGR of 7.6% during the forecast period. The report also analysis other segments including cruise liners and railway stations.
The Europe travel retail market across the U.K. accounted for the largest share in 2017, contributing to more than one-fourth of the market. Conversely, the market across Germany is expected to portray the fastest CAGR of 10.8% during the forecast period. The report analyses the market across regions including France, Italy, Spain, and rest of Europe.
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The major market players in the report inlcude Dufry AG, Lagardère SCA, Gebr. Heinemann SE & Co. KG, RegStaer, LVMH Group, daa Plc., Autogrill S.p.A., TRE³, WH Smith PLC, and Flemingo International Ltd.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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