Dublin, July 05, 2024 (GLOBE NEWSWIRE) -- The "Duty-Free Retailing - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Duty-Free Retailing was valued at an estimated US$46.6 Billion in 2023 and is projected to reach US$89.1 Billion by 2030, growing at a CAGR of 9.7% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the duty-free retail market is driven by several factors including the globalization of travel, technological advancements in retail operations, and evolving consumer behaviors. Increasing air travel, especially in emerging markets, has broadened the customer base for duty-free retailing, supported by the expansion of airport infrastructures and increased flight connectivity worldwide.
Technological innovations have streamlined operations, improved stock management, and enhanced the customer experience through digital platforms that allow pre-ordering and personalized service. Additionally, changes in consumer behavior, with a growing appetite for luxury goods and exclusive products often found only in duty-free areas, have also played a critical role. These trends, coupled with strategic marketing and the allure of tax-free shopping, continue to propel the growth and transformation of the duty-free retail industry.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Cosmetics & Perfumes segment, which is expected to reach US$33.0 Billion by 2030 with a CAGR of a 10.9%. The Tobacco & Alcoholic Beverages segment is also set to grow at 9.8% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $12.7 Billion in 2023, and China, forecasted to grow at an impressive 13.5% CAGR to reach $19.0 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Duty-Free Retailing Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Duty-Free Retailing Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Duty-Free Retailing Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Aer Rianta International, China Tourism Group Duty Free Corporation Limited (CTG Duty Free), DFS Group Ltd., and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 289 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $46.6 Billion |
| Forecasted Market Value (USD) by 2030 | $89.1 Billion |
| Compound Annual Growth Rate | 9.7% |
| Regions Covered | Global |
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Global Economic Update
- Duty-Free Retailing - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Expansion of International Air Travel Drives Growth in Duty-Free Retailing
- Increased Luxury Consumption Expands Addressable Market for High-End Duty-Free Products
- Emerging Markets Propel Growth Opportunities in Duty-Free Retail Spaces
- Technological Advancements in Payment Systems Enhance Customer Experience in Duty-Free Shopping
- Growth in Cruise Line Industry Opens New Venues for Duty-Free Retail Expansion
- Consumer Behavior Shifts Toward Premiumization Boost Duty-Free Sales
- Enhanced Customer Data Analytics Drive Personalization in Duty-Free Offers
- Integration of AR and VR Technologies to Improve Shopping Experience in Duty-Free Stores
FOCUS ON SELECT PLAYERS(Total 43 Featured):
- Aer Rianta International
- China Tourism Group Duty Free Corporation Limited (CTG Duty Free)
- DFS Group Ltd.
- DubaiDutyFree
- Dufry AG (Red by Dufry)
- Duty Free Philippines Corporation
- Flemingo International
- Gebr. Heinemann SE & Co. KG
- Hotel Lotte Co., Ltd. (Lotte Duty Free)
- Hotel Shilla CO., LTD (Shilla Duty Free)
- James Richardson Grouop (JR Group)
- King Power International Co., Ltd.
- Lagardere Travel Retail SAS
- LVMH Moet Hennessy - Louis Vuitton SE
- Shinsegae Duty Free
For more information about this report visit https://www.researchandmarkets.com/r/hew69s
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