Travel Retail Market Overview:
Extensive Travel Retail Market analysis is carried out by attentively monitoring important product positioning and the market framework's top competitors. Key competitors are profiled and their tactics are extensively examined to grasp the competitive perspective of the global Travel Retail market.
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Market Scope:
This research on the Travel Retail industry is based on a thorough examination of the market, supported by secondary and primary sources. Market volume is determined by a country-by-country model mapping of Travel Retail utilizing internal and external private information, as well as relevant patent and regulatory sources.
Travel Retail Market Dynamics:
A strong, lightweight, and recyclable material is Travel Retail. Additionally, it is used to make materials for food packaging as well as consumer items like CD and DVD cases. It is a low-cost, high-strength plastic that may be recycled into materials for home building, used to insulate structures, and be made into sterile disposable cutlery. The market is anticipated to grow over the course of the projected period as a result of the expanding product application scope across various end-use sectors.
The market is being driven by the expanding end markets for Travel Retail, which include the electronics and construction sectors. The expansion of the Travel Retail market is being driven by the rising usage of expanded Travel Retail in building and insulation. The Travel Retail industry will benefit from the rising construction market.
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Travel Retail Market Segmentation:
The Travel Retail Market is divided into General Purpose Travel Retail, High Impact Travel Retail, and Expandable Travel Retail based on the type of resin used. With a sales share of about 34.2% in 2022, the High Impact Travel Retail sector has become the dominating resin type category. High Impact Travel Retail, which is exceptionally durable and resistant to cracking, is used in the molding process. Painting and gluing are simple and inexpensive. It is used to make housing and covers, weak structural elements, printed graphics, models and prototypes, fittings, and other things. Other grades include those with ignition resistance, high gloss, and environment stress crack resistance. The market expansion for Travel Retail in this niche is driven by these significant advantages.
by Product
Fashion and accessories
Perfume and cosmetics
Electronics
Food
Confectionery products
Bakery products
Catering
Luxury goods
Watches
Jewelry
Wine & spirits
Tobacco
Others
In terms of product segmentation, In 2020, the perfume and cosmetics section held the highest revenue share due to the increasing sales of various personal care products across several retail locations. Worldwide airports are seeing the construction of new boutiques by L'Oreal and other cosmetics brands. It is anticipated that this component would further propel segment growth. In 2020, wine and spirits ranked as the second-largest industry, and growth in the coming years is anticipated to be consistent. Since they are less expensive in duty-free stores, alcoholic spirits are among the items that are most frequently purchased there.
by Sector
Duty-Free
Duty Paid
by Sales Channel
Airport
Cruise Liner
Railway Station and Border
Downtown and Hotel Shop
According to the Sales Channel Segment, the airport industry dominated the market in 2022 and held the biggest market share. The expansion of this segment is expected to be aided by an increase in air travelers due to reduced expenses and better living standards. Additionally, the retail sector in this section has grown as a result of numerous airports' initiatives to boost profitability from non-aeronautical resources. Over the course of the projection period, the category with the fastest forecasted growth is expected to be border, downtown, and hotel retailers. These stores are a representation of the newest fashions. Compared to the airport area, retailers benefit from lower rents in border and downtown areas.
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Key Players:
A team of research professionals updates and amends our data regularly to reflect the most recent trends and facts. To fulfill the needs of both individual and corporate clients, we have substantial competence in research and consulting for a wide range of business disciplines. Our knowledgeable staff uses proprietary data sources as well as a range of additional approaches. The key players in the Travel Retail business are...
1. Dufry Group
2.Lotte Duty-Free
3. The Shilla Duty-Free
4. China Duty-Free Group
5. Lagardére Travel Retail
6. DFS Group
7. Gebr Heinemann
8. Shinsegae Duty-Free
9. King Power International Group (Thailand)
10. Ever Rich Duty-Free Shop
Regional Analysis:
The study presents regional competitive circumstances. These insights help market participants improve their approaches and provide new opportunities to achieve amazing results.
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COVID-19 Impact Analysis on Travel Retail Market:
The spread of the COVID-19 pandemic has had a wide-ranging influence on people's lives all around the world. Markets have been forced to adopt new norms, trends, and tactics as a result. Essentially, the study report tries to paint a picture of the market's initial and future projections.
Key Questions Answered in the Travel Retail Market Report are:
- What will be the CAGR of the Travel Retail market during the forecast period?
- Which segment emerged as the leading segment in the Travel Retail market?
- Which are the prominent players in the Travel Retail market?
- What will be the Travel Retail market size by 2027?
- Which company held the largest share in the Travel Retail market?
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