The duty free retailing market accounted for US$ 77.87 Bn in 2018 and is anticipated to grow at a CAGR of 8.44% to reach US$ 155.30 Bn by 2027.
Constant development in the travel & tourism industry, coupled with the integration of several segments including hospitality & infrastructure with government initiatives, enhance the travel & tourism industry, resulting in the growth of the duty-free retailing market. According to the World Travel and Tourism Council (WTTC), the global travel & tourism sector is witnessing a significant growth with a surpassing global GDP in 2018 for the eighth year consecutively. The industry grew at 3.9% YoY and accounted for US$ 8.8 Trillion in 2018.
The high growth in the travel & tourism industry is attributed to the rising middle-class population worldwide coupled with low-budget travel packages offered by several travel package providers.
The growth in the travel & tourism industry is also resulting in the construction of new airports and ports worldwide. For instance, in 2020, GMR Airports Ltd signed a contract to build duty-free shops at Kannur international airport in Kerala, India. Also, several airport expansion projects are underway in North America and the European region. Moreover, several developing nations are investing in building new airports to handle the increasing passenger traffic. The capacity within terminals enables specific brand outlets to create their individual retail space, and for larger duty-free shops to build branded spaces within a larger store, supporting higher-value sales. Furthermore, several cruise lines are also opening duty-free stores. For instance, in 2018, Carnival Cruise Line, an international cruise line, and Heinemann introduced a duty-free shopping experience for its customers’ onboard Carnival Liberty. Also, Heinemann’s APAC arm also announced the opening of its duty-free store onboard vessel Carnival Spirit based in Sydney. According to Cruise Lines International Association (CLIA), the number of cruise tourists increased globally from 17.8 Mn passengers in 2009 to an anticipated 30 Mn in 2019. The association also expects that the cruise industry will witness further growth owing to the expansion of new destinations. The growth in the construction of new airports, as well as the cruise industry, is anticipated to drive the overall growth of the travel & tourism industry, thus boosting the duty-free retailing market
Lucrative Regions for Duty Free Retailing Market
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Market Insights
Moving Trend from Desktop to Mobile, Voice, and Bots
The notable trend is being witnessed among customers moving from a traditional desktop system to mobile, voice, and Chabot’s. The retail sector is witnessing a rise in mobile e-commerce, due to which there is rapid adoption of simple and enhanced processes which makes product selection, booking, and payment instantaneous.
With the advancement in technology, voice assistants are getting better at understanding the human voice. Besides voice, digital travel assistance such as Chabot’s are significantly enhancing customer’s experience. Introduction of AI in technologies are anticipating traveler’s needs in real-time. With the implementation of advanced technologies and application based shopping, the duty-free retailing is expected to witness significant demand during the forecast period.
Product Type Market Insights
Based on product type, the duty-free retailing market is segmented into cosmetics and personal care; alcohol, wine and spirits; tobacco and cigarettes; fashion and accessories; confectionery and food stuff; and others. The others segment consists of electronics, health supplements, toys, watches, books, and fine writings. The opportunity to purchase the products at a much lesser cost is catalyzing the trend, which is impacting positively on the growth of the duty-free retailing market. Additionally, airlines always lookout for impressive services to enhance passenger flying experience, and onboard shopping and pre-boarding shopping is one of the new services rolled out by airlines, which is, in turn, driving the growth of the duty free retailing market.
Duty Free Retailing Market, by Product – 2018 and 2027
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Application Market Insight
Based on Application, the duty-free retailing market is segmented into Airports, Onboard Aircraft, Seaports, and Others. Airports segment holds the largest market share, followed by others, seaport, and on-board segment. The airport duty-free retailing facility offers a pre-booking of duty-free products, which allows the customers to choose the product delivery at the airport or on-board. This facility allows passengers to carry less luggage, which further reduces the risk of incurring excess baggage fees.
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Duty Free Retailing Market: Strategic Insights
Market Size Value in US$ 77.87 Billion in 2018 Market Size Value by US$ 155.30 Billion by 2027 Growth rate CAGR of 8.44% from 2019-2027 Forecast Period 2019-2027 Base Year 2019
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Duty Free Retailing Market: Strategic Insights
| Market Size Value in | US$ 77.87 Billion in 2018 |
| Market Size Value by | US$ 155.30 Billion by 2027 |
| Growth rate | CAGR of 8.44% from 2019-2027 |
| Forecast Period | 2019-2027 |
| Base Year | 2019 |
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The players operating in the enterprise content management market focus on strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:
- In July 2020, Dubai Duty Free opened a new Arrivals Shop in Terminal 3 of Dubai International Airport. The new Dubai Duty Free Arrivals Shop structures a total retail space of 1,100sqm, which is an important increase over its previous retail area of 660sqm. The additional area is mainly in front of the demise line of the old shop, and the new shop is designed to expressively improve the visibility of the shop to arriving passengers within the large baggage hall.
- In November 2019, Bacardi Global Travel Retail joined with Dubai Duty Free during the launch of Aberfeldy 19YO Exceptional Cas. Available from 1 November 2019 at 13 Dubai Duty Free stores across Dubai International Airport, ABERFELDY 19YO Exceptional Cask Small Batch is presented in special edition packaging, consisting bottle numbering that celebrates its newly at Dubai International and offers an thrilling proposition for single malt connoisseurs and collectors as well as tempting new generations of adult whisky drinkers..
Global Duty Free Retailing Market Segments:
Duty Free Retailing Market – By Product Type
- Cosmetics and Personal Care Products
- Alcohol, Wine and Spirits
- Tobacco and Cigarettes
- Fashion
- Confectionery and Food Stuff
- Others
Global Duty Free Retailing Market – By Application
- Airports
- On-board Aircraft
- Seaports
- Others
Duty Free Retailing Market – By Geography
North America
- U.S.
- Canada
- Mexico
Europe
- France
- Germany
- Italy
- Spain
- UK
- Rest of Europe
Asia Pacific (APAC)
- Australia
- China
- India
- Japan
- Rest of APAC
Middle East & Africa (MEA)
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
South America (SAM)
- Brazil
- Rest of SAM
Companies
- Aer Rianta International (ARI)
- China Duty Free Group Co.,Ltd.
- Dubai Duty Free
- Duty Free Americas
- Gebr. Heinemann
- King Power International Group
- Lotte Duty Free
- Shinsegae Duty Free
- The Shilla Duty Free
- LVMH
- LAGARDèRE TRAVEL RETAIL
- Hyundai Duty Free
- DUFRY AG
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product Type ; Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Australia, Brazil, Canada, China, Egypt, France, Germany, India, Indonesia, Israel, Italy, Japan, Malaysia, Mexico, Philippines, Russian Federation, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Thailand, Turkey, United Arab Emirates, United Kingdom, United States, Vietnam
Frequently Asked Questions
In the APAC region, presence of a considerable number of duty-free retail stores across the region, and high inbound and outbound travelers purchasing these products from hotels, airports, and borders. Additionally, increasing disposable income and growing middle-class population are also fueling the sales of duty-free products in APAC.
Other factors contributing to the market growth include growing number of new air routes, introduction of LCC carriers, and rise in the consumption and purchasing power in China and India. Further, the introduction of cheap destination travel packages by companies such as Cleartrip, MakeMyTrip, and GoIbibo is anticipated to drive the growth of the global duty-free and travel retail market.
The cosmetics and personal care products segment of the duty-free retailing market has substantially gained prominence in recent years. The primary driver for the beauty product segment is increasing leisure travel.
Intending to allow passengers to purchase cosmetics and personal care products from international brands at a discounted price, the airlines are increasingly offering passengers to surf and buy these products during ticket booking. Also, passengers can purchase a variety of cosmetics and personal care products on-board, which is another ancillary revenue generation stream.
The notable trend is being witnessed among customers moving from a traditional desktop system to mobile, voice, and Chabot’s. The retail sector is witnessing a rise in mobile e-commerce, due to which there is rapid adoption of simple and enhanced processes which makes product selection, booking, and payment instantaneous.
With the advancement in technology, voice assistants are getting better at understanding the human voice. Besides voice, digital travel assistance such as Chabot’s are significantly enhancing customer’s experience. Introduction of AI in technologies are anticipating traveler’s needs in real-time. With the implementation of advanced technologies and application based shopping, the duty-free retailing is expected to witness significant demand during the forecast period.
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Duty Free Retailing Market Landscape
4.1 Market Overview
4.2 Ecosystem Analysis
4.3 PEST Analysis
4.3.1 North America – PEST Analysis
4.3.2 Europe – PEST Analysis
4.3.3 Asia-Pacific – PEST Analysis
4.3.4 Middle East & Africa – PEST Analysis
4.3.5 South America – PEST Analysis
4.4 Premium Insights
4.4.1 Segmental Revenue by Operator
4.4.1.1 LVMH
4.4.1.2 Dufry AG
4.4.1.3 Dubai Duty Free
4.4.1.4 Gebr Heinemann
4.4.1.5 The Shilla Duty Free
4.4.2 Segmental Revenue by Operator
4.4.2.1 Insights on Impact of Natural or Biological Calamities on Duty Free Retailing Market and its Recovery
4.4.2.1.1 Coronavirus
4.4.2.1.2 Spread of the Zika virus beyond the Americas
5. Duty Free Retailing Market – Key Industry Dynamics
5.1 Key Market Drivers
5.1.1 Increasing Number of Air Travelers is Fuelling the Duty-Free Retailing Market
5.1.2 Growth in Travel & Tourism Industry is Boosting the Duty-Free Retailing Market
5.2 Restraints
5.2.1 Crisis and Disasters can Significantly Affect the Duty-Free Retailing Market
5.3 Opportunities
5.3.1 Enhancement in Customer Experience Offers Lucrative Opportunities to Vendors
5.4 Trends
5.4.1 Moving Trend from Desktop to Mobile, Voice, and Bots
5.5 Impact analysis of Drivers and restraints
6. Duty Free Retailing Market – Global Market Analysis
6.1 Global Duty Free Retailing Market, Revenue and Forecast to 2027 (US$ Bn)
6.2 Market Positioning- Top Five Players
7. Duty-Free Retailing Market – By Product Type
7.1 Overview
7.2 Duty-Free Retailing Market Breakdown, by Product Type (2018 and 2027)
7.3 Cosmetics and Personal Care
7.3.1 Overview
7.3.2 Cosmetics and Personal Care: Duty-Free Retailing Market – Revenue and Forecast to 2027 (US$ Billion)
7.4 Alcohol, Wine, and Spirits
7.4.1 Overview
7.4.2 Alcohol, Wine and Spirits: Duty-Free Retailing Market – Revenue and Forecast to 2027 (US$ Billion)
7.5 Tobacco and Cigarettes
7.5.1 Overview
7.5.2 Tobacco and Cigarettes: Duty-Free Retailing Market – Revenue and Forecast to 2027 (US$ Billion)
7.6 Fashion and Accessories
7.6.1 Overview
7.6.2 Fashion and Accessories: Duty-Free Retailing Market, Revenue and Forecast to 2027 (US$ Billion)
7.7 Confectionery and Food Stuff
7.7.1 Overview
7.7.2 Confectionery and Food Stuff: Duty-Free Retailing Market, Revenue and Forecast to 2027 (US$ Billion)
7.8 Others
7.8.1 Overview
7.8.2 Others: Duty-Free Retailing Market, Revenue and Forecast to 2027 (US$ Billion)
8. Duty-Free Retailing Market – By Application
8.1 Overview
8.2 Duty-Free Retailing Market Breakdown, by Application (2018 and 2027)
8.3 Airports
8.3.1 Overview
8.3.2 Airports: Duty-Free Retailing Market – Revenue and Forecast to 2027 (US$ Billion)
8.4 On-board Aircraft
8.4.1 Overview
8.4.2 On-board Aircraft: Duty-Free Retailing Market – Revenue and Forecast to 2027 (US$ Billion)
8.5 Seaports
8.5.1 Overview
8.5.2 Seaports: Duty-Free Retailing Market – Revenue and Forecast to 2027 (US$ Billion)
8.6 Others
8.6.1 Overview
8.6.2 Train Stations: Duty-Free Retailing Market – Revenue and Forecast to 2027 (US$ Billion)
9. Duty Free Retail Market – Geographic Analysis
9.1 Overview
9.2 North America: Duty-free retail market
9.2.1 Overview
9.2.2 North America: Duty Free Retail Market – Revenue and Forecast to 2027 (US$ Billion)
9.2.3 North America: Duty-free retail market Revenue Share, by Product Type
9.2.4 North America: Duty-free retail market Revenue Share, by Application
9.2.5 North America: Duty-free retail market Revenue Share, by Country
The US led the North America market in 2018 with a share of 72.65% and is expected to capture 68.91% of the market by 2027.
9.2.5.1 US: Duty-free retail market
9.2.5.2 Canada: Duty-free retail market
9.2.5.3 Mexico: Duty-free retail market
9.3 Europe Duty-free retail market, Revenue and Forecast to 2027
9.3.1 Overview
9.3.2 Europe Duty-free retail market, Revenue and Forecast to 2027 (US$ Bn)
9.3.3 Europe Duty-free retail market Breakdown, by Product Type
9.3.4 Europe Duty-free retail market Breakdown, by Application
9.3.5 Europe Duty-free retail market Breakdown, by Country
9.3.5.1 UK Duty-free retail market, Revenue and Forecast to 2027
9.3.5.2 Germany Duty-free retail market, Revenue and Forecast to 2027
9.3.5.3 Russia Duty-free retail market, Revenue and Forecast to 2027
9.3.5.4 France Duty-free retail market, Revenue and Forecast to 2027
9.3.5.5 Italy Duty-free retail market, Revenue and Forecast to 2027
9.3.5.6 Spain Duty-free retail market, Revenue and Forecast to 2027
9.4 APAC: Duty-free retail market, Revenue and Forecast to 2027
9.4.1 Overview
9.4.2 APAC: Duty-free retail market, Revenue and Forecast to 2027 (US$ Bn)
9.4.3 APAC: Duty-free retail market Breakdown, by Product Type
9.4.4 APAC: Duty-free retail market Breakdown, by Application
9.4.5 APAC: Duty-free retail market Breakdown, by Country
9.4.5.1 China: Duty-free retail market, Revenue and Forecast to 2027 (US$ Bn)
9.4.5.2 Japan: Duty-free retail market, Revenue and Forecast to 2027 (US$ Bn)
9.4.5.3 South Korea: Duty-free retail market, Revenue and Forecast to 2027 (US$ Bn)
9.4.5.4 Australia: Duty-free retail market, Revenue and Forecast to 2027 (US$ Bn)
9.4.5.5 India: Duty-free retail market, Revenue and Forecast to 2027 (US$ Bn)
9.4.5.6 Indonesia: Duty-free retail market, Revenue and Forecast to 2027 (US$ Bn)
9.4.5.7 Singapore: Duty-free retail market, Revenue and Forecast to 2027 (US$ Bn)
9.4.5.8 Malaysia: Duty-free retail market, Revenue and Forecast to 2027 (US$ Bn)
9.4.5.9 Thailand: Duty-free retail market, Revenue and Forecast to 2027 (US$ Bn)
9.4.5.10 Vietnam: Duty-free retail market, Revenue and Forecast to 2027 (US$ Bn)
9.4.5.11 Philippines: Duty-free retail market, Revenue and Forecast to 2027 (US$ Bn)
9.4.5.12 Rest of APAC: Duty-free retail market, Revenue and Forecast to 2027 (US$ Bn)
9.5 MEA: Duty-free retail market, Revenue and Forecast to 2027
9.5.1 Overview
9.5.2 MEA: Duty-free retail market, Revenue and Forecast to 2027 (US$ Bn)
9.5.3 MEA: Duty-free retail market Breakdown, by Product Type
9.5.4 MEA: Duty-free retail market Breakdown, by Application
9.5.5 MEA: Duty-free retail market Breakdown, By Country, 2018 & 2027 (%)
9.5.5.1 South Africa: Duty-free retail market, Revenue and Forecast to 2027 (US$ Bn)
9.5.5.2 Saudi Arabia: Duty-free retail market, Revenue and Forecast to 2027 (US$ Bn)
9.5.5.3 UAE: Duty-free retail market, Revenue and Forecast to 2027 (US$ Bn)
9.5.5.4 Turkey: Duty-free retail market, Revenue and Forecast to 2027 (US$ Bn)
9.5.5.5 Israel: Duty-free retail market, Revenue and Forecast to 2027 (US$ Bn)
9.5.5.6 Egypt: Duty-free retail market, Revenue and Forecast to 2027 (US$ Bn)
9.5.5.7 Rest of MEA: Duty-free retail market, Revenue and Forecast to 2027 (US$ Bn)
9.6 SAM: Duty-free retail market, Revenue and Forecast to 2027
9.6.1 Overview
9.6.2 SAM: Duty-free retail market, Revenue and Forecast to 2027 (US$ Bn)
9.6.3 SAM: Duty-free retail market Breakdown, by Product Type
9.6.4 SAM: Duty-free retail market Breakdown, by Application
9.6.5 SAM: Duty-free retail market Breakdown, by Country
9.6.5.1 Brazil Duty-free retail market, Revenue and Forecast to 2027
9.6.5.2 Rest of SAM: Duty-free retail market, Revenue and Forecast to 2027
10. Duty Free Retailing Market - Industry Landscape
10.1 Overview
10.2 Market Initiative
10.3 New Development
11. Duty Free Retailing Market- Company Profiles
11.1 Aer Rianta International (ARI)
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 China Duty Free Group Co.,Ltd.
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Dubai Duty Free
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Duty Free Americas
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Gebr. Heinemann
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 King Power International Group
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 Lotte Duty Free
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 Shinsegae Duty Free
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 The Shilla Duty Free
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
11.10 LVMH
11.10.1 Key Facts
11.10.2 Business Description
11.10.3 Products and Services
11.10.4 Financial Overview
11.10.5 SWOT Analysis
11.10.6 Key Developments
11.11 LAGARDèRE TRAVEL RETAIL
11.11.1 Key Facts
11.11.2 Business Description
11.11.3 Products and Services
11.11.4 Financial Overview
11.11.5 SWOT Analysis
11.11.6 Key Developments
11.12 Hyundai Duty Free
11.12.1 Key Facts
11.12.2 Business Description
11.12.3 Products and Services
11.12.4 Financial Overview
11.12.5 SWOT Analysis
11.12.6 Key Developments
11.13 DUFRY AG
11.13.1 Key Facts
11.13.2 Business Description
11.13.3 Products and Services
11.13.4 Financial Overview
11.13.5 SWOT Analysis
11.13.6 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 Glossary of Terms
LIST OF TABLES
Table 1. Global Duty Free Retailing Market, Revenue and Forecast to 2027 (US$ Bn)
Table 2. Duty Free Retail Market, by Region – Revenue and Forecast to 2027 (USD Billion)
Table 3. Duty Free Retail Market, by Product Type – Revenue and Forecast to 2027 (USD Billion)
Table 4. Duty Free Retail Market, by Application – Revenue and Forecast to 2027 (USD Billion)
Table 5. North America: Duty Free Retail Market, by Product Type – Revenue and Forecast to 2027 (USD Billion)
Table 6. North America: Duty Free Retail Market, by Application – Revenue and Forecast to 2027 (USD Billion)
Table 7. North America: Duty Free Retail Market, by Country – Revenue and Forecast to 2027 (USD Billion)
Table 8. US: Duty Free Retail Market, by Product Type – Revenue and Forecast to 2027 (USD Billion)
Table 9. US: Duty Free Retail Market, by Application – Revenue and Forecast to 2027 (USD Billion)
Table 10. Canada: Duty Free Retail Market, by Product Type – Revenue and Forecast to 2027 (USD Billion)
Table 11. Canada: Duty Free Retail Market, by Application – Revenue and Forecast to 2027 (USD Billion)
Table 12. Mexico: Duty Free Retail Market, by Product Type – Revenue and Forecast to 2027 (USD Billion)
Table 13. Mexico: Duty Free Retail Market, by Application – Revenue and Forecast to 2027 (USD Billion)
Table 14. Europe: Duty Free Retail Market, by Product Type, 2018–2027 (US$ Bn)
Table 15. Europe: Duty Free Retail Market, by Application, 2018–2027 (US$ Bn)
Table 16. Europe: Duty Free Retail Market, by Country, 2018–2027 (US$ Bn)
Table 17. UK: Duty Free Retail Market, by Product Type, 2018–2027 (US$ Bn)
Table 18. UK: Duty Free Retail Market, by Application, 2018–2027 (US$ Bn)
Table 19. Germany: Duty Free Retail Market, by Product Type, 2018–2027 (US$ Bn)
Table 20. Germany: Duty Free Retail Market, by Application, 2018–2027 (US$ Bn)
Table 21. Russia: Duty Free Retail Market, by Product Type, 2018–2027 (US$ Bn)
Table 22. Russia: Duty Free Retail Market, by Application, 2018–2027 (US$ Bn)
Table 23. France: Duty Free Retail Market, by Product Type, 2018–2027 (US$ Bn)
Table 24. France: Duty Free Retail Market, by Application, 2018–2027 (US$ Bn)
Table 25. Italy: Duty Free Retail Market, by Product Type, 2018–2027 (US$ Bn)
Table 26. Italy: Duty Free Retail Market, by Application, 2018–2027 (US$ Bn)
Table 27. Spain: Duty Free Retail Market, by Product Type, 2018–2027 (US$ Bn)
Table 28. Spain: Duty Free Retail Market, by Application, 2018–2027 (US$ Bn)
Table 29. Rest of Europe Duty-free retail market, Revenue and Forecast to 2027
Table 30. Rest of Europe: Duty Free Retail Market, by Product Type, 2018–2027 (US$ Bn)
Table 31. Rest of Europe: Duty Free Retail Market, by Application, 2018–2027 (US$ Bn)
Table 32. APAC: Duty Free Retail Market, by Product Type, 2018–2027 (USD Billion)
Table 33. APAC: Duty Free Retail Market, by Application, 2018–2027 (USD Billion)
Table 34. APAC: Duty Free Retail Market, by Country, 2018–2027 (USD Billion)
Table 35. China: Duty Free Retail Market, by Product Type, 2018–2027 (USD Billion)
Table 36. China: Duty Free Retail Market, by Application, 2018–2027 (USD Billion)
Table 37. Japan: Duty Free Retail Market, by Product Type, 2018–2027 (USD Billion)
Table 38. Japan: Duty Free Retail Market, by Application, 2018–2027 (USD Billion)
Table 39. South Korea: Duty Free Retail Market, by Product Type, 2018–2027 (USD Billion)
Table 40. South Korea: Duty Free Retail Market, by Application, 2018–2027 (USD Billion)
Table 41. Australia: Duty Free Retail Market, by Product Type, 2018–2027 (USD Billion)
Table 42. Australia: Duty Free Retail Market, by Application, 2018–2027 (USD Billion)
Table 43. India: Duty Free Retail Market, by Product Type, 2018–2027 (USD Billion)
Table 44. India: Duty Free Retail Market, by Application, 2018–2027 (USD Billion)
Table 45. Indonesia: Duty Free Retail Market, by Product Type, 2018–2027 (USD Billion)
Table 46. Indonesia: Duty Free Retail Market, by Application, 2018–2027 (USD Billion)
Table 47. Singapore: Duty Free Retail Market, by Product Type, 2018–2027 (USD Billion)
Table 48. Singapore: Duty Free Retail Market, by Application, 2018–2027 (USD Billion)
Table 49. Malaysia: Duty Free Retail Market, by Product Type, 2018–2027 (USD Billion)
Table 50. Malaysia: Duty Free Retail Market, by Application, 2018–2027 (USD Billion)
Table 51. Thailand: Duty Free Retail Market, by Product Type, 2018–2027 (USD Billion)
Table 52. Thailand: Duty Free Retail Market, by Application, 2018–2027 (USD Billion)
Table 53. Vietnam: Duty Free Retail Market, by Product Type, 2018–2027 (USD Billion)
Table 54. Vietnam: Duty Free Retail Market, by Application, 2018–2027 (USD Billion)
Table 55. Philippines: Duty Free Retail Market, by Product Type, 2018–2027 (USD Billion)
Table 56. Philippines: Duty Free Retail Market, by Application, 2018–2027 (USD Billion)
Table 57. Rest of APAC: Duty Free Retail Market, by Product Type, 2018–2027 (USD Billion)
Table 58. Rest of APAC: Duty Free Retail Market, by Application, 2018–2027 (USD Billion)
Table 59. MEA: Duty Free Retail Market, by Product Type, 2018–2027 (USD Billion)
Table 60. MEA: Duty Free Retail Market, by Application, 2018–2027 (USD Billion)
Table 61. MEA: Duty Free Retail Market, by Country, 2018–2027 (USD Billion)
Table 62. South Africa: Duty Free Retail Market, by Product Type, 2018–2027 (USD Billion)
Table 63. South Africa: Duty Free Retail Market, by Application, 2018–2027 (USD Billion)
Table 64. Saudi Arabia: Duty Free Retail Market, by Product Type, 2018–2027 (USD Billion)
Table 65. Saudi Arabia: Duty Free Retail Market, by Application, 2018–2027 (USD Billion)
Table 66. UAE: duty-free retail market, by Product Type, 2018–2027 (USD Billion)
Table 67. UAE: Duty Free Retail Market, by Application, 2018–2027 (USD Billion)
Table 68. Turkey: Duty Free Retail Market, by Product Type, 2018–2027 (USD Billion)
Table 69. Turkey: Duty Free Retail Market, by Application, 2018–2027 (USD Billion)
Table 70. Israel: Duty Free Retail Market, by Product Type, 2018–2027 (USD Billion)
Table 71. Israel: Duty Free Retail Market, by Application, 2018–2027 (USD Billion)
Table 72. Egypt: Duty Free Retail Market, by Product Type, 2018–2027 (USD Billion)
Table 73. Egypt: Duty Free Retail Market, by Application, 2018–2027 (USD Billion)
Table 74. Rest of MEA: Duty Free Retail Market, by Product Type, 2018–2027 (USD Billion)
Table 75. Rest of MEA: Duty Free Retail Market, by Application, 2018–2027 (USD Billion)
Table 76. SAM: Duty Free Retail Market, by Product Type, 2018–2027 (USD Billion)
Table 77. South America: Duty Free Retail Market, by Application, 2018–2027 (USD Billion)
Table 78. South America: Duty Free Retail Market, by Country, 2018–2027 (USD Billion)
Table 79. Brazil: Duty Free Retail Market, by Product Type, 2018–2027 (USD Billion)
Table 80. Brazil: Duty Free Retail Market, by Application, 2018–2027 (USD Billion)
Table 81. Rest of SAM: Duty Free Retail Market, by Product Type, 2018–2027 (USD Billion)
Table 82. Rest of SAM: Duty Free Retail Market, by Application, 2018–2027 (USD Billion)
Table 83. Glossary of Term: Duty Free Retailing Market
LIST OF FIGURES
Figure 1. Duty Free Retailing Market Segmentation
Figure 2. Duty Free Retailing Market Segmentation – By Geography
Figure 3. Cosmetic & personal care segment to dominate the market by product type throughout the forecast period
Figure 4. Airport segment is expected to witness high growth
Figure 5. Asia-Pacific segment is expected to witness high growth
Figure 6. Duty Free Retailing Market Overview
Figure 7. Asia-Pacific to witness fastest CAGR
Figure 8. Duty Free Retailing Market Ecosystem Analysis
Figure 9. North America – PEST Analysis
Figure 10. Europe – PEST Analysis
Figure 11. Asia-Pacific – PEST Analysis
Figure 12. Middle East & Africa – PEST Analysis
Figure 13. South America – PEST Analysis
Figure 14. Global Air Passenger Traffic (Bn Units)
Figure 15. Duty Free Retailing Market Impact Analysis of Driver and Restraints
Figure 16. Global Duty Free Retailing Market
Figure 17. Global Duty Free Retailing Market, Revenue and Forecast to 2027 (US$ Bn)
Figure 18. Duty-Free Retailing Market Revenue Share, by Product Type (2018 and 2027)
Figure 19. Cosmetics and Personal Care: Duty-Free Retailing Market – Revenue and Forecast to 2027 (US$ Billion)
Figure 20. Alcohol, Wine and Spirits: Duty-Free Retailing Market – Revenue and Forecast to 2027 (US$ Billion)
Figure 21. Tobacco and Cigarettes: Duty-Free Retailing Market – Revenue and Forecast to 2027 (US$ Billion)
Figure 22. Fashion and Accessories: Duty-Free Retailing Market, Revenue and Forecast to 2027 (US$ Billion)
Figure 23. Confectionery and Food Stuff: Duty-Free Retailing Market, Revenue and Forecast to 2027 (US$ Billion)
Figure 24. Others: Duty-Free Retailing Market, Revenue and Forecast to 2027 (US$ Billion)
Figure 25. Duty-Free Retailing Market Revenue Share, by Application (2018 and 2027)
Figure 26. Airports: Duty-Free Retailing Market – Revenue and Forecast to 2027 (US$ Billion)
Figure 27. On-board Aircraft: Duty-Free Retailing Market – Revenue and Forecast to 2027 (US$ Billion)
Figure 28. Seaports: Duty-Free Retailing Market – Revenue and Forecast to 2027 (US$ Billion)
Figure 29. Train Stations: Duty-Free Retailing Market – Revenue and Forecast to 2027 (US$ Billion)
Figure 30. Duty-free retail market Revenue Share, by Region, 2018 and 2027
Figure 31. North America: Duty Free Retail Market – Revenue and Forecast to 2027 (US$ Billion)
Figure 32. North America: Duty-free retail market Revenue Share, by Product Type (2018 and 2027)
Figure 33. North America: Duty-free retail market Revenue Share, by Application (2018 and 2027)
Figure 34. North America: Duty-free retail market Revenue Share, by Country (2018 and 2027)
Figure 35. US: Duty Free Retail Market – Revenue and Forecast to 2027 (US$ Billion)
Figure 36. Canada: Duty Free Retail Market – Revenue and Forecast, 2018–2027 (US$ Billion)
Figure 37. Mexico: Duty Free Retail Market – Revenue and Forecast 2027 (US$ Billion)
Figure 38. Europe Duty-free retail market, Revenue and Forecast to 2027 (US$ Bn)
Figure 39. Europe Duty-free retail market Breakdown, by Product Type, 2018 and 2027 (%)
Figure 40. Europe Duty-free retail market Breakdown, by Application, 2018 and 2027 (%)
Figure 41. Europe Duty-free retail market Breakdown, by Country, 2018 and 2027(%)
Figure 42. UK Duty-free retail market, Revenue and Forecast, 2018–2027 (US$ Bn)
Figure 43. Germany Duty-free retail market, Revenue and Forecast, 2018–2027 (US$ Bn)
Figure 44. Russia Duty-free retail market, Revenue and Forecast, 2018–2027 (US$ Bn)
Figure 45. France Duty-free retail market, Revenue and Forecast, 2018–2027 (US$ Bn)
Figure 46. Italy Duty-free retail market, Revenue and Forecast, 2018–2027 (US$ Bn)
Figure 47. Spain Duty-free retail market, Revenue and Forecast, 2018–2027 (US$ Bn)
Figure 48. Rest of Europe Duty-free retail market, Revenue and Forecast, 2018–2027 (US$ Bn)
Figure 49. APAC: Duty-free retail market, Revenue and Forecast to 2027 (US$ Bn)
Figure 50. APAC: Duty-free retail market Breakdown, by Product Type, 2018 and 2027 (%)
Figure 51. APAC: Duty-free retail market Breakdown, by Application, 2018 and 2027 (%)
Figure 52. APAC: Duty-free retail market Breakdown, by Country, 2018 and 2027 (%)
Figure 53. China: Duty-free retail market, Revenue and Forecast to 2027 (US$ Bn)
Figure 54. Japan: Duty-free retail market, Revenue and Forecast to 2027 (US$ Bn)
Figure 55. South Korea: Duty-free retail market, Revenue and Forecast to 2027 (US$ Bn)
Figure 56. Australia: Duty-free retail market, Revenue and Forecast to 2027 (US$ Bn)
Figure 57. India: Duty-free retail market, Revenue and Forecast to 2027 (US$ Bn)
Figure 58. Indonesia: Duty-free retail market, Revenue and Forecast to 2027 (US$ Bn)
Figure 59. Singapore: Duty-free retail market, Revenue and Forecast to 2027 (US$ Bn)
Figure 60. Malaysia: Duty-free retail market, Revenue and Forecast to 2027 (US$ Bn)
Figure 61. Thailand: Duty-free retail market, Revenue and Forecast to 2027 (US$ Bn)
Figure 62. Vietnam: Duty-free retail market, Revenue and Forecast to 2027 (US$ Bn)
Figure 63. Philippines: Duty-free retail market, Revenue and Forecast to 2027 (US$ Bn)
Figure 64. Rest of APAC: Duty-free retail market, Revenue and Forecast to 2027 (US$ Bn)
Figure 65. MEA: Duty-free retail market, Revenue and Forecast to 2027 (US$ Bn)
Figure 66. MEA: Duty-free retail market Breakdown, by Product Type, 2018 & 2027 (%)
Figure 67. MEA: Duty-free retail market Breakdown, by Application, 2018 & 2027 (%)
Figure 68. South Africa: Duty-free retail market, Revenue and Forecast to 2027 (US$ Bn)
Figure 69. Saudi Arabia: Duty-free retail market, Revenue and Forecast to 2027 (US$ Bn)
Figure 70. UAE: Duty-free retail market, Revenue and Forecast to 2027 (US$ Bn)
Figure 71. Turkey: Duty-free retail market, Revenue and Forecast to 2027 (US$ Bn)
Figure 72. Israel: Duty-free retail market, Revenue and Forecast to 2027 (US$ Bn)
Figure 73. Egypt: Duty-free retail market, Revenue and Forecast to 2027 (US$ Bn)
Figure 74. Rest of MEA: Duty-free retail market, Revenue and Forecast to 2027 (US$ Bn)
Figure 75. SAM: Duty-free retail market, Revenue and Forecast to 2027 (US$ Bn)
Figure 76. SAM: Duty-free retail market Breakdown, by Product Type, 2018 & 2027 (%)
Figure 77. SAM: Duty-free retail market Breakdown, by Application, 2018 & 2027 (%)
Figure 78. SAM: Duty-free retail market Breakdown, by Country, 2018 & 2027 (%)
Figure 79. Brazil Duty-free retail market, Revenue and Forecast, 2018–2027 (US$ Bn)
Figure 80. Rest of SAM: Duty-free retail market, Revenue and Forecast, 2018–2027 (US$ Bn)
The List of Companies - Global Duty Free Retailing Market
- Aer Rianta International (ARI)
- China Duty Free Group Co.,Ltd.
- Dubai Duty Free
- Duty Free Americas
- Gebr. Heinemann
- King Power International Group
- Lotte Duty Free
- Shinsegae Duty Free
- The Shilla Duty Free
- LVMH
- LAGARDèRE TRAVEL RETAIL
- Hyundai Duty Free
- DUFRY AG
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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