The travel retail market size was valued at $52.7 billion in 2021, and is estimated to reach $187 billion by 2031, growing at a CAGR of 9.6% from 2022 to 2031.

WILMINGTON, DELAWARE , UNITED STATES, August 22, 2024 /EINPresswire.com/ -- Some of the leading companies in travel retail industry, such as Estee Lauder, L’Oréal, Rituals Cosmetics, and Revlon, are expanding their businesses by opening their outlets at every international airport with an exclusive and wide range of fragrances & skin care products. This is due to the fact that billions of people travel internationally every year and spend sufficient time at airports. Thus, owing to this free time at the airport, travelers prefer to browse & buy products. In addition, enhanced visibility of products draws the attention of new customers in different countries and increases brand loyalty of existing customers.

Development of the travel & tourism industry, rapid urbanization, and changes in lifestyle owing to increase in disposable income of consumers, drive the growth of the travel retail market trends. In addition, international tourist arrivals in the emerging economies of Asia-Pacific and LAMEA is anticipated to create lucrative opportunities for the global travel retail market.

📚 𝐃𝐨𝐧'𝐭 𝐦𝐢𝐬𝐬 𝐨𝐮𝐭 𝐨𝐧 𝐲𝐨𝐮𝐫 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲: https://www.alliedmarketresearch.com/request-sample/1606

The travel retail market size was valued at $52.7 billion in 2021, and is estimated to reach $187 billion by 2031, growing at a CAGR of 9.6% from 2022 to 2031.

The travel retail market is segmented on the basis of product type, sales channel, and region. By product type, the market is divided into perfume & cosmetics; electronics; wine & spirits; food, confectionery, & catering; tobacco; luxury goods; and others. As per distribution channel, the market is divided into airports; cruise liners; railway stations; and border, downtown, & hotel shops. Depending on region, the market is divided into North America, Europe, Asia-Pacific, and LAMEA.

By product type, the perfumes & cosmetics segment held the major share in 2021 and is expected to dominate the market at a significant CAGR during the forecast period 2022-2031. Sustainability among perfume & cosmetic products is attracting a large customer base at present as the customer wants various information regarding the products being purchased, such as if they are environment-friendly. Customers are now emphasizing over products made from natural ingredients.

𝐊𝐞𝐲 𝐟𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐬𝐭𝐮𝐝𝐲
By product type, the perfumes & cosmetics segment was the highest revenue contributor to the market in 2021 and is expected to grow at a significant CAGR during the forecast period.

As per distribution channel, the airports segment was the highest revenue contributor to the market in 2021 and is expected to grow at a significant CAGR during the forecast period.

Region wise, Asia-Pacific was the highest revenue contributor to the market in 2021 and is expected to grow at a significant CAGR during the forecast period.

𝐊𝐞𝐲 𝐁𝐞𝐧𝐞𝐟𝐢𝐭𝐬 𝐅𝐨𝐫 𝐒𝐭𝐚𝐤𝐞𝐡𝐨𝐥𝐝𝐞𝐫𝐬
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the travel retail market analysis from 2021 to 2031 to identify the prevailing travel retail market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the travel retail market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes an analysis of the regional as well as global travel retail market trends, key players, market segments, application areas, and market growth strategies.

𝐃𝐨 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 https://www.alliedmarketresearch.com/purchase-enquiry/1606

𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬
Dufry
LS travel retail
DFS Group
Lotte Duty Free
The Shilla Duty Free
Gebr
Aer Rianta International (ARI)
Heinemann
King Power International Group
China Duty Free Group (CDFG)
The Nuance Group

𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐢𝐧 𝐂𝐨𝐧𝐬𝐮𝐦𝐞𝐫 𝐆𝐨𝐨𝐝𝐬 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲
𝐆𝐚𝐦𝐢𝐧𝐠 𝐄𝐚𝐫𝐛𝐮𝐝𝐬 𝐦𝐚𝐫𝐤𝐞𝐭 https://www.alliedmarketresearch.com/gaming-earbuds-market-A31827
𝐃𝐫𝐨𝐧𝐞 𝐋𝐢𝐠𝐡𝐭 𝐒𝐡𝐨𝐰𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 https://www.alliedmarketresearch.com/drone-light-shows-market-A31664

David Correa
Allied Market Research
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