Duty-Free Retailing Market Likely to Emerge Over a Period of 2020

Duty-Free Retailing Market Likely to Emerge Over a Period of 2020 – 2027

Global duty-free retailing market is going to witness a massive growth during the forecast period. The cosmetic and personal care segment will be the most lucrative. Airport segment will generate the highest revenue.

Research Dive has recently published a report with the title “Duty-Free Retailing Market, by Product Type (Alcohol & Spirit, Tobacco & Cigarette, Fashion & Accessories, Personal Care & Cosmetic, Watches & Jewelry, and Others), Distribution Channel (Airport, Seaport, Onboard and Others); Regional Outlook (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2019–2026”

The global duty-free retailing market is expected to garner a revenue of $139.4 billion by 2026 at a CAGR of 8.2% during the forecast period.

Regional Analysis

Asia-Pacific region is predicted to generate the highest market share during the forecast period. The market accounted for $32,362.2 million in 2018 and is further predicted to grow with a CAGR of 7.9 % in upcoming years. The main reason behind this growth is the rise in the disposable income with the increasing middle-class population.

Key Segments of the Market

The report has bifurcated the market into different segments based on product type, distribution channel, and regional analysis.

In product type segment, the cosmetic and personal care products sub-segment is expected to generate the highest revenue during the forecast period. The main reason behind this growth is the popularity of expensive products among the urban population.
In distribution channel segment, the airport sub-segment is expected to be the most profitable during the forecast period. The airport distribution channel offers immense scope for retail outlets to reach customers. Airports also offer the flexibility in the prices of the products which contribute to the industry growth.

Dynamics of the Market

The rise in international tourism is predicted to be the major driving factor for the growth of the market. The market players offer products to customers at an amazingly affordable price compared to general retail stores. The prices of these product are considerably low due to various exempted taxes. Passengers prefer to buy expensive and luxurious items which are available to them at a much lower prices. This factor is predicted to boost the market during the forecast period.

In different countries, there are various rules and regulations for shopping in the duty-free retail shops. Strict rules and regulation in adding new products particularly for the local manufacturers and small & medium enterprises (SMEs) create a hurdle for the market as these organizations cannot afford to lend a store in various duty-free retail shops area.

Increasing customer experiences and providing amazing customer services is expected to create a huge opportunity in the market in upcoming years.

Key Player of the Market

According to the report, the leading players of the duty-free retailing market include –

Duty Free Americas
SHINSEGAE DUTY FREE
Aer Rianta International
Dubai Duty Free
China Duty Free Group Co.,Ltd.
LOTTE HOTEL.
DUFRY AG
HYUNDAI DEPARTMENT STORE DUTY FREE
Lagardère group
LVMH

Further, the report outlines and presents several aspects of these key players such as financial performance, SWOT analysis, recent strategic moves & developments, and product portfolio.

Mr. Abhishek Paliwal
Research Dive
30 Wall St. 8th Floor, New York
NY 10005 (P)
+ 91 (788) 802-9103 (India)
+1 (917) 444-1262 (US) Toll
Free : +1 -888-961-4454
Email: support@researchdive.com
LinkedIn: https://www.linkedin.com/company/research-dive
Twitter: https://twitter.com/ResearchDive
Facebook: https://www.facebook.com/Research-Dive
Blog: https://www.researchdive.com/blog
Follow us on: https://covid-19-market-insights.blogspot.com

COVID-19 Impact: Which Are the Key Players Evolving In the Growth of Assisted Reproductive Technology Market?

The worldwide spread of COVID-19 has positively impacted the global assisted reproductive technology market . This is mainly due to supportive government policies and the strategic steps taken by major market players in the pandemic crisis. For instance, in June 2020, SART launched its fertility expert’s podcast series. Furthermore, the global market is expected to observe substantial growth even after the pandemic owing to the growing adoption of R&D and growing awareness amongst people regarding assisted reproductive technology. The global assisted reproductive technology market is likely to experience an increase in the growth rate during the COVID-19 pandemic. As per a new report added by Research Dive, the global assisted reproductive technology market is anticipated to reach up to $56.3 billion during the forecast period from 2019 to 2026. Comprehensive analysis on drivers, challenges, growth opportunities, major segments, and key strategies executed by maj...

Why Dynamics of Organ Care System Market for Liver Is Changing Drastically? What If History Is Any Guide?

The COVID-19 outbreak has helped the global organ care system market to grow at a positive rate. The manufactures of the industry are investing more in R&D activities to grow exponentially during the forecast period. The COVID-19 pandemic has positively impacted the global Organ care system (OCS) for liver market and a slight increase in the growth rate is observed from the previous predictions. As per new Research Dive published report, the global OCS for liver market is anticipated to grow at a CAGR of 9.3% by 2026, generating a revenue of $42.7 million in the period of forecast from 2019 to 2026. To better understand the pandemic effect on the global market, the report includes comprehensive analysis on growth opportunities, restraints, drivers, vital segments, and strategies adopted by major market players. For More Detail Insights, Download FREE Sample at: https://www.researchdive.com/download-sample/253 Highlights of the Report As per our analysts, the risi...

COVID-19 Impact: What Challenges Medical Tourism Market May See In Next 5 Years?

The COVID-19 crisis has affected the global medical tourism market in a negative way. The governments are taking initiatives to help patients seek healthcare treatment and the market is likely to recover by Q1/Q2 of 2022. The COVID-19 pandemic has hugely impacted the global medical tourism market and a slight downfall is witnessed in the growth rate as compared to the former predictions. As per new Research Dive published report, the global medical tourism market is anticipated to rise at a CAGR of 11.7% by 2026, generating a revenue of $142.2 billion in the period of forecast from 2019 to 2026. While there is a decrease in the growth rate due to the COVID-19 outbreak, the market is likely to recover by Q1/Q2 of 2022. For More Detail Insights, Download FREE Sample at : https://www.researchdive.com/download-sample/248 Highlights of the Report As per our analysts, the increasing interests amongst people coupled with technological advancements in healthcare treatment is...

MyTrade-Insights

Search This Blog