#Travel Perfume Market forecast

[timesofinnovation]

LVMH Moët Hennessy Louis Vuitton, the powerhouse behind luxury brands like Louis Vuitton, Dior, and Loewe, reported a concerning decline in its fashion and leather goods division. The company announced a 5 percent drop in third-quarter sales, falling short of analysts’ expectations, which had forecasted modest growth between 0 and 2 percent. This downturn raises alarms not just for LVMH but for the luxury sector as a whole, suggesting a possible shift in consumer behavior and market dynamics. LVMH's financial report highlighted that its total sales across the group slid 3 percent on an organic basis, totaling €19.1 billion (approximately $21 billion) for the third quarter. Despite this decline, LVMH framed the results as indicative of “good resilience in the current context.” However, the reality is that the luxury sector has been facing significant challenges, particularly following a period of extraordinary demand post-pandemic. The decline in luxury spending can be attributed to several factors. Economic headwinds, such as rising inflation and high interest rates, have prompted consumers to recalibrate their spending priorities. Luxury items, once viewed as essential purchases, are now often perceived as discretionary expenditures. This change in mindset is evident as consumers increasingly favor spending on health, wellness, and travel, shifting away from high-end fashion. Moreover, LVMH's aggressive pricing strategies, initially designed to maintain margin growth, may have contributed to turning off a segment of less affluent buyers. As luxury prices rise, the barrier for entry to these brands becomes higher, potentially alienating a significant customer base. This can be particularly detrimental for high-end brands that rely heavily on aspirational purchases from a broader demographic. Interestingly, while LVMH’s fashion and leather goods segment struggled, other divisions within the group showed more stable growth. The retailing segment, which includes the popular beauty chain Sephora, experienced a 2 percent rise in sales. Likewise, the perfume and cosmetics division saw a modest increase of 3 percent. However, the wine and spirits division faced a tougher landscape. Specifically, it encountered difficulties reviving cognac sales in the critical Chinese market, indicating that the luxury slowdown is not equally distributed across all brands and sectors. This downturn raises questions about the future trajectory of luxury brands in a shifting market landscape. For example, smaller luxury players may find it increasingly challenging to compete against the marketing muscle and global infrastructure of giants like LVMH. They may be struggling for visibility and shelf space in an increasingly saturated market. This scenario urges them to re-evaluate their strategies and explore differentiation through unique storytelling and creative design. The luxury segment's business model has already begun to pivot in response to evolving consumer demands. A focus on sustainability and ethical production practices is increasingly becoming important for luxury buyers, particularly younger generations who are more socially conscious. As brands rethink their values and operations, there lies a unique opportunity to align with the new consumer ethos that values authenticity and sustainability. Looking forward, the upcoming quarterly results from LVMH will be closely watched for insights into the luxury sector's recovery and adaptation strategies. Executives will likely face questions about pricing, product innovation, and marketing focus moving toward a more discerning consumer base. It remains to be seen how brands will recalibrate their offerings and strategies to navigate these turbulent waters. In conclusion, LVMH's recent sales figures are indicative of broader challenges faced by the luxury industry. Understanding the nuances of consumer behavior and market dynamics is crucial for brands that wish to survive and thrive. Brands

must adapt to the evolving luxury landscape by embracing authenticity and responsiveness to consumer values, ensuring they remain relevant in a shifting world.

[downincmi]

Duty Free Retailing Market Trends: Insights and Analysis

The duty free retailing market is witnessing transformation led by experiences and convenient shopping features. Duty free retailing allows international travelers to purchase tax and duty-free goods such as alcohol, tobacco, perfumes, and fashion accessories during international travel. These products are subject to customs duty if purchased or consumed within the destination country. The global duty free retailing industry allows passengers to enjoy substantial savings while traveling. The introduction of innovative shopping experiences through advanced digital and technology driven solutions are boosting sales. The Global Duty Free Retailing Market is estimated to be valued at US$ 38.95 Bn in 2024 and is expected to exhibit a CAGR of 8.6% over the forecast period 2023 to 2030. Key players operating in the duty free retailing market are Dufry AG, LOTTE Duty Free Company, DFS Group Limited, Gebr. Heinemann SE & Co. KG, The Shilla Duty Free, The King Power International Group, James Richardson Corporation Pty Ltd., Duty Free Americas, Inc., Flemingo International Ltd., Dubai Duty Free, and China Duty Free Group Co., Ltd. Key Takeaways

Key players: Key players operating in the duty free retailing are focusing on expanding their global footprint by opening stores at new and existing airports. For instance, Dufry recently won the tender to operate the duty free shops at 12 Greek airports. Growing demand: The demand for duty free shopping is growing owing to increasing international travel and purchasing power of global consumers. Tourism growth in Asia Pacific and Middle East is fueling sales in these regions. Global expansion: Major duty free retailers are expanding their global presence through new contracts, mergers and acquisitions. For example, Lagardere Travel Retail acquired Air Miles in Poland to strengthen its position in Eastern Europe. Market Key Trends

The use of digital and technology is one of the major trends witnessed in the duty free retailing market. Players are focusing on enhancing the shopping experience through innovative technologies. The integration of virtual and augmented reality,mobile applications, beacons, and analytics is revolutionizing the shopping journey. Self-checkout options using automated payments and kiosks allow shoppers to navigate stores with ease. These advanced solutions are boosting impulse buying and average transaction volume in turn increasing revenues.

Porter’s Analysis

Threat of new entrants: The duty free retailing market requires large investments to build airport infrastructure and operate shops at various locations. These high entry barriers deter new players from easily entering this market. Bargaining power of buyers: Buyers have moderate bargaining power in this market. People travelling have limited brand choices within airports and seaports. However, several substitutes are available online. Bargaining power of suppliers: Leading brands dominate the supply landscape. They leverage their product exclusivity to negotiate better terms with large duty free retailers. Threat of new substitutes: Alternatives like airport lounges and in-flight shopping pose minimal threat currently. However, the growing e-commerce industry is becoming a strong substitute channel. Competitive rivalry: Top players compete on the basis of brand reputation, product variety, location of stores, and promotions. Mergers and acquisitions among industry majors further intensify competition. Geographical regions: North America holds the major share currently, supported by large international airport gateways in the US. Asia Pacific is expected to surpass North America during the forecast period due to rapid infrastructure development and rising air passenger traffic in countries like China and India. The fastest growing region is Asia Pacific, projected to expand at over 10% CAGR between 2023-2030. This can be attributed to strong tourism growth in Asian nations, increasing discretionary incomes, and initiatives by governments to promote duty free shopping. Countries like China, India, and Southeast Asian markets are poised to drive the next phase of growth in the region.

[coherentmarketinsights]

Insights into the Global Duty-Free Retailing Market: Trends, Opportunities, and Future Prospects

Duty Free Retailing Market is booming by Increased International Passenger Traffic The global duty free retailing market offers a wide variety of goods including perfumes, cosmetics, alcohol, tobacco and other luxurious goods to international travelers. Through duty free shopping, travelers can purchase branded goods at discounted prices without paying any duties or taxes. The growing international passenger air traffic and cruise travel has been fueling the sales in this market. The global duty free retailing market is estimated to be valued at US$ 38.95 Bn in 2024 and is expected to exhibit a CAGR of 8.6% over the forecast period 2023 to 2030. Key players operating in the duty free retailing market are Dufry AG, LOTTE Duty Free Company, DFS Group Limited, Gebr. Heinemann SE & Co. KG, The Shilla Duty Free, The King Power International Group, James Richardson Corporation Pty Ltd., Duty Free Americas, Inc., Flemingo International Ltd., Dubai Duty Free, and China Duty Free Group Co., Ltd. With rising income levels and globalization, international passenger traffic is surging across regions. According to the International Air Transport Association, the number of global air passengers is expected to double to 8.2 billion by 2037. The growing number of flyers is fueling higher consumer spending at duty free shops located at airports. Major airport operators are also expanding duty free retail space to meet the increasing demand. For instance, Dubai Airport plans to double its duty free space by 2025 to attract more travelers and boost sales. Owing to favorable government policies for duty free retailers, many global brands are keen on expanding into new international markets. Several European duty free operators are actively seeking opportunities in Asia Pacific and Middle Eastern airports through joint ventures, management contracts and acquisitions. The US market is also opening up for foreign duty free retailers after decades of restrictions. This global expansion drive by major players is expected to further propel the growth of the duty free retailing industry during the forecast period. The key trends in the duty free retailing market include growing popularity of travel retail e-commerce platforms. Many duty free airport retailers are launching online sites and mobile apps to pre-sell goods to passengers before their travel. This allows travelers to skip lengthy checkout queues at airports and conveniently collect their pre-booked products. Travel retail ecommerce is gaining traction and expected to complement physical store sales in the coming years.Porter’s Analysis Threat of new entrants: The duty free retailing market requires high capital investment to enter the market, restricting new players. Bargaining power of buyers: Buyers have low bargaining power in the duty free retailing market as there are limited options and brands available without taxes. Bargaining power of suppliers: A few prominent brands dominate the supply market, allowing them stronger negotiating power against duty free retailers. Threat of new substitutes: There are no close substitutes for tax-free shopping. Competitive rivalry: Players compete on expanding product portfolio, locations, and shop design. Geographical Regions North America accounts for the largest share of the global duty free retailing market, primarily driven by strong travel and tourism industry in the United States. The Asia Pacific region is expected to witness the fastest growth during the forecast period owing to rising incomes, expanding airport infrastructure, and increasing international passenger traffic in countries such as China and India.

[hopefularbitertree]

World of Designer Colognes Where to Find the Best Selections Online

Based on recent research, the worldwide market for Perfume & Cologne was valued at USD 51,473.18 million in 2022. It's projected to grow at a compound annual growth rate (CAGR) of 5.23% through the forecast period, ultimately reaching USD 69,886.67 million by 2028.

Ah, designer colognes! That's a fun topic to delve into. When it comes to finding the best selections online, there are a few places I can recommend based on my experiences.

First off, have you ever tried browsing through specialty fragrance websites? They often have a wide range of designer colognes, including niche and hard-to-find options. One of my favourite online stores for fragrances is FragranceX. They have a massive collection of designer colognes from brands like Dior, Chanel, Tom Ford, and many more. What I love about them is that they often offer discounts and have customer reviews to help you make informed decisions.

Another great place to look is on the official websites of the designer brands themselves. Many luxury brands like Gucci, Prada, and Armani have their own online stores where you can find their latest fragrances. Plus, shopping directly from the brand ensures authenticity and sometimes exclusive deals or samples.

Of course, we can't forget about the big players in online retail like Amazon and Sephora. They have a vast selection of designer colognes, and you can often find great deals, especially during sales events like Black Friday or Cyber Monday.

But here's a pro tip: before making a purchase, it's a good idea to sample the cologne first. You can either visit a local department store to test it out or order a sample size online. That way, you can ensure that the scent suits you before committing to a full-size bottle.

So, whether you're into classic scents from established designers or looking to explore niche fragrances, the world of designer colognes has something for everyone. Happy hunting!

What is the top 5 websites that sells designer perfumes?

Ssome of the top websites that sell designer perfumes include:

FragranceX: Known for its extensive collection of designer fragrances at discounted prices and customer reviews.

Sephora: A popular beauty retailer offering a wide range of designer perfumes both online and in-store.

ScentForMe: Popular South African Perfumeshop that sells designer perfumes. ScentForMe is based in South Africa but provide their services to the whole of Africa.

Ulta Beauty: Similar to Sephora, Ulta Beauty carries a variety of designer perfumes and often has promotions and deals.

FragranceNet: Specializes in discounted designer fragrances, skincare, and makeup products.

Nordstrom: Nordstrom is a a luxury department store that sells a curated selection of high-end designer perfumes online.

These websites often have a diverse range of designer perfumes from well-known brands like Chanel, Dior, Tom Ford, and more. Keep in mind that availability and specific offerings may vary, so it's always good to check multiple sources for the best deals and selections.

What to Look for When Buying Perfume Online?

Buying perfume online can be convenient and rewarding if you know what to look for. Here are some key factors to consider:

Fragrance Notes: Understand the fragrance notes you prefer, whether it's floral, woody, citrusy, or oriental. Look for detailed descriptions of the top, middle, and base notes in the perfume's description to ensure it aligns with your preferences.

Authenticity: Purchase from reputable websites or official brand stores to ensure you're getting authentic products. Check for customer reviews and ratings to gauge the authenticity and quality of the perfume.

Sample or Tester Sizes: If possible, opt for sample or tester sizes before committing to a full bottle. Many online retailers offer sample sets or travel-sized bottles, allowing you to test the scent and see how it evolves on your skin before making a larger purchase.

Return Policy: Review the website's return policy, especially when buying fragrances online. Ensure that you can return or exchange the perfume if it doesn't meet your expectations or if you experience any issues with the product.

Price and Discounts: Compare prices across different websites to ensure you're getting the best deal. Look out for promotions, discounts, and bundle offers that can help you save money on designer perfumes.

Packaging and Shipping: Consider the packaging and shipping methods used by the website. Fragile items like perfumes should be well-packaged to prevent damage during transit. Check the estimated delivery time to ensure it meets your needs, especially if you're purchasing the perfume for a specific occasion.

Customer Reviews: Read customer reviews and testimonials to get insights into the longevity, sillage (how far the scent projects), and overall quality of the perfume. Real-life experiences from other buyers can help you make an informed decision.

By paying attention to these factors, you can enhance your online perfume shopping experience and increase the likelihood of finding a fragrance that you'll love.

[chemicalresearchupdates]

Duty Free Retailing Market Growth Strategies: Leveraging Duty-Free Zones

Duty free retailing refers to the sale of goods to travelers that are free of certain local or national taxes and duties. Duty free retail outlets offer variety of goods like perfumes, cosmetics, wines, spirits, tobacco products, luxury items, and fashion accessories. Duty free retailing provides exotic and branded products to travelers at competitive prices. Rising demand for luxury and premium products from international travelers is driving growth of duty free retailing industry. The global duty free retailing Market is estimated to be valued at US$ 38.95 Bn in 2023 and is expected to exhibit a CAGR of 8.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Opportunity: The opportunity of tourism recovery presents lucrative growth prospects for duty free retailing market. The global tourism industry was significantly impacted due to the outbreak of COVID-19 pandemic as international travel restrictions were imposed. However, with accelerating vaccination drives worldwide, restrictions are being gradually lifted. This presents opportunities for recovery of international tourism. According to United Nations World Tourism Organization (UNWTO), international tourist arrivals are estimated to rebound to 55-70% of pre-pandemic levels in 2022. Recovery in tourism and increase in cross-border travels will boost sales of duty free retail outlets located at airports and seaports. As international travelers resume travels, duty free operators can leverage this opportunity to capture rising demand for travel retail products. Focus on tourism revival initiatives by governments worldwide offers promising growth avenues for duty free retailing market over the forecast period. Porter's Analysis

Threat of new entrants: The duty free retailing market requires high capital investments for infrastructure and inventory which poses barriers for new entrants. Regulatory norms further make entry difficult.

Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of alternatives both online and at regular retail stores. However, attractive discounts and access to global brands at duty free outlets tilt the balance in favor of existing players.

Bargaining power of suppliers: Major brands dominate supply and have considerable power over retailers. However, the availability of alternative distribution channels and supplier base keeps their influence in check.

Threat of new substitutes: Alternate tax free shopping options do not provide comparable discounts or experience which safeguards the market. Nevertheless, e-commerce continues to emerge as a disruptive substitute.

Competitive rivalry: The market comprises global established players and regional operators vying for airport contracts and prime retail space. Intense price and non-price competition exists to attract buyers.

SWOT Analysis

Strength: Global footprint and scale of operations provide bargaining power.Strong brand recognition and product variety attract customers.

Weakness: High fixed and operating costs constrain profits. Vulnerable to macroeconomic fluctuations and geopolitical risks in key regions.

Opportunity: Expanding middle class in developing nations presents new customer base. Partnerships with airports open additional revenue avenues.

Threats: Shift to online spending threatens physical stores. Currency fluctuations and global tensions impact travel markets.

Key Takeaways

The global duty free retailing market is expected to witness high growth led by robust expansion of airports and seaports globally.

The Asia Pacific region holds the largest share currently owing to high outbound travel from China, India, and other Asian economies. Regional airport authorities plan large infrastructure upgrades which will benefit duty free operators across major hubs in the region. North America and Europe remain other profitable regions propelled by developed travel and tourism industries along with high per capita spending power. Renovation of legacy airports like Dubai, London Heathrow and plans for new facilities in Canada, Mexico are likely to drive future spending at duty free stores in these regions. Key players operating in the duty free retailing market are Dufry AG, LOTTE Duty Free Company, DFS Group Limited, Gebr. Heinemann SE & Co. KG, The Shilla Duty Free, The King Power International Group, James Richardson Corporation Pty Ltd., Duty Free Americas, Inc., Flemingo International Ltd., Dubai Duty Free, and China Duty Free Group Co., Ltd. These players compete based on brand, product quality, operating efficiencies, and strategic airport concessions. Consolidation activities are common as operators pursue scale benefits through acquisitions and partnerships.

[pearlsmith25]

Duty Free Retailing Market Odyssey: Navigating the Seas of Tax-Free Retail Opportunities

Duty free retailing refers to the sale of goods without payment of certain local or national taxes and duties. Typically, these goods are sold in airports and on board commercial aircraft and ships. Duty free shops allow travelers to purchase alcohol, tobacco products, perfumes, and cosmetics among other items at a lower price by waiving off the applicable taxes and duties. Duty free retailing has become quite popular among air travelers as it provides an opportunity to avail international branded goods at discounted prices. The global duty free retailing market is estimated to be valued at US$ 38.95 billion in 2023 and is expected to exhibit a CAGR of 8.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Opportunity: The key market opportunity for duty free retailing market lies in the increasing international air passenger traffic. According to International Air Transport Association (IATA), the number of global air passengers is expected to witness robust growth in the coming years. IATA estimates that the annual passenger traffic is estimated to double and reach 8.2 billion by 2037. This consistent rise in air travel will fuel sales in airport duty free shops. As duty free shopping has become an integral part of air travel experience for passengers, the high traffic volume is likely to translate into greater sales potential. The growth in international tourism also bodes well for duty free retailers operating in airports and on international routes. Thus, the rapid expansion of global air travel presents a lucrative market opportunity for duty free retailers over the forecast period. Porter's Analysis Threat of new entrants: The duty free retailing market requires high capital investments to establish and maintain duty free shops at airports or seaports. Presence of established brands with strong brand equity also poses barrier for new entrants. Bargaining power of buyers: Buyers have moderate bargaining power due to availability of alternatives and brand options. However, time constraints at airports/seaports limit buyers' ability to compare offerings and negotiate. Bargaining power of suppliers: Suppliers have moderate bargaining power due to presence of multiple raw material/product suppliers. However, established duty free retailers can choose from a large number of premium/luxury brands. Threat of new substitutes: Limited threat as duty free shopping offers unique proposition of tax savings. However, online channels are emerging as alternatives. Competitive rivalry: Intense due to presence of global and regional retailers competing on service, product range, pricing and promotional strategies. SWOT Analysis

Strength: Wide product assortment, premium brands, favorable locations at airports/seaports, reputed brand image. Weakness: High operating costs, vulnerability to challenges in tourism/travel industry, regulatory restrictions. Opportunity: Emerging regional travel hubs, new seaports, expansion in Asia Pacific. Threats: Economic slowdowns curbing travel, stringent regulations, substitutes like online/domestic shopping. Key Takeaways The global duty free retailing market is expected to witness high growth over the forecast period supported by revival in global travel and tourism industry post pandemic. Asia Pacific region holds the major share currently led by travel hubs like Singapore, Thailand etc and is likely to remain the fastest growing region supported by infra developments, rising incomes and expanding regional travel. Regional analysis focuses on airports/seaports in major economies like China, Japan, South Korea which are witnessing heavy investments in airport expansions and upgradations. Domestic travel is a key driver in Asia Pacific region. Key players operating in the duty free retailing market are Dufry AG, LOTTE Duty Free Company, DFS Group Limited, Gebr. Heinemann SE & Co. KG, The Shilla Duty Free, The King Power International Group, James Richardson Corporation Pty Ltd., Duty Free Americas, Inc., Flemingo International Ltd., Dubai Duty Free, and China Duty Free Group Co., Ltd. These players are focusing on expanding their international footprint, strengthening e-commerce channels and enhancing offerings.

[alliedcreation]

Travel Retail Market Generating Revenue of $145.0 billion by 2028 | 14.9% Growth Rate 

 “Travel Retail Market by Product and Channel: Global Opportunity Analysis and Industry Forecast, 2018 – 2025″,the global travel retail market size was valued at $74.9 billion in 2017, and is projected to reach $153.7 billion by 2025, growing at a CAGR of 9.6% from 2018 to 2025. Perfumes & cosmetics segment has a strong customer base in the global travel retail market. Some of the leading companies, such as Estee Lauder, LOral, Rituals Cosmetics, Revlon, and others, are expanding their businesses by opening their outlets at every international airport with an exclusive and a wide range of fragrances and skin care products.

Retailers at travel retail stores are yet to catch-up with the innovations happening outside of their world. Nevertheless, Covid-19 will certainly accelerate transformation of travel retailers especially in contactless payments, loyalty programs, and digitization . This is because billions of people travel internationally every year and spend money and time at airports. The travelers get a lot of free time at the airport to browse and buy products. In addition, travel retail creates more visibility for their products, which draws the attention of new customers in different countries and increases brand loyalty of existing customers.

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Development of the travel & tourism industry, rapid urbanization, and changes in lifestyle, owing to increased disposable income of consumers drive the growth of the travel retail market. In addition, increase in travel & tourism or international tourist arrivals in the emerging economies, such as Asia-Pacific and LAMEA is anticipated to create lucrative opportunities for the global travel retail market. However, unorganized local markets and stringent regulations in airport retailing hamper the growth of the travel retail market.

Wines & spirits is the second largest revenue contributor in the global travel retail market. The consumption of wines, particularly luxury wines and spirits has witnessed considerable growth in the past few years. Wines & spirits, of the total, have 15.9% of the travel retail market share. In addition, it has been observed that luxury wines & spirits are highly preferred by the international passengers, which leads to the growth of the market. Passengers travelling over distances mostly prefer wines & spirits. Also, the growth in culture of owning luxurious goods and consumption of expensive wines & spirits are driving the growth of the market.

Asia-Pacific is the largest travel retail market in the world, and is growing at the fastest rate owing to improvements in living standards, rise in disposable income, improvement in lifestyle, and development of the tourism industry. Furthermore, Europe is one of the largest travel retail markets, owing to its stronger base of luxury products. It is anticipated to have the fastest travel retail market growth with a CAGR of 7.2% in the forecasted period.

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The region possesses some of the biggest apparels and cosmetics brands, namely, LVMH from France and H&M from Sweden, which hold a significant share in the luxury apparels, perfumes, and cosmetics sector, thereby making it the second largest travel retail market. Wealthy tourists from the Middle East, China, the U.S., and Russia contribute significantly toward the growth of the European travel retail market. Being the historical home of most of the luxury houses, Europes market accounts for nearly $23 billion of the travel retail sector.

Key Findings of the Travel Retail Market :- By channel, the airports segment accounted for the maximum market revenue in 2017, and is projected to grow at a CAGR of 9.6% during the forecast period. By channel, the border, downtown, & hotel shops segment is expected to grow at the highest CAGR of 10.1%. By product type, the perfumes & cosmetics segment accounted for more than 31% of travel retail market share in 2017, and is expected to dominate the global market by 2025. By product type, the luxury goods segment is expected to grow at the highest CAGR of 12% during the forecast period. China was the major shareholder in the Asia-Pacific travel retail industry, and accounted for around 67.4% share in 2017

The major players profiled in this report include :- Aer rianta international China duty free group co., ltd. Dufry ag Duty free americas, inc Gebr. Heinemann se & co.kg King power international Lotte hotel Lagardère sca (lagardère travel retail) Lvmh group (dfs group limited) The shilla duty free

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[yashallied]

Europe and Middle East and Africa Duty Paid Travel Retail Market Expected to Reach $ 16,884.0 Million by 2030 Allied Market Research.

According to a new report published by Allied Market Research, titled, “Europe and Middle East and Africa Duty Paid Travel Retail Market by Product Type, Sales Channel and Mode of Travel: Global Opportunity Analysis and Industry Forecast, 2022-2030,”

The Europe duty paid travel retail market was valued at $ 10,657.7 million in 2019, and is estimated to reach $16,884.0 million by 2030, registering a CAGR of 6.1% from 2022 to 2030.

The Middle East & Africa duty paid travel retail market was valued at $2,622.9 million in 2019, and is estimated to reach $4,596.9 million by 2030, registering a CAGR of 7.0% from 2022 to 2030.

In terms of future spending options, travel has been recognized as the top priority with greater focus on unique luxury experiences and adventure activities. Surge in interest of people to explore new places and to have unique travel experiences have encouraged market players to offer food & beverage products and regional liquor flavors that connect travelers to local culture of the destination and explore the unknown acquaintance of the place and its people. However, changes in socio-economic conditions threaten the growth of the market. On the contrary, market players are coming up with new specialized limited edition products for duty paid travel retail categories to cater to the needs of travelers, which is anticipated to offer remunerative opportunities for the expansion of the market during the forecast period.

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Owing to rapid drop in tourism caused by the COVID-19 pandemic, the growth rate of the duty paid travel retail market declined drastically in 2020. This is attributed to the fact that travel restrictions and precautions were implemented in January 2020 across the globe. Owing of the fear of infection, domestic and international visitors limited their trips, thus reducing the number of local and international clients for this retail channel. However, with ease in restrictions of COVID-19 in 2021, the travel retail market has witnessing growth, and it is expected to recover the normalized growth rate by 2023.

The duty paid travel retail market is segmented into product type, sales channel, mode of travel, and region. On the basis of product type, the market is categorized into perfume & cosmetics, electronics, food, confectionery & catering, tobacco, wine & spirits, luxury goods, fashion & accessories, travel accessories, and others. The luxury goods segment is further segregated into premium jewelry, luxury watches, luxury cosmetic & perfumes, luxury wines & spirits, and others.

The fashion & accessories segment is sub-segmented into glasses, wallets & handbags, footwear, jewelry, watches, and others. By sales channel, it is segregated into convenience stores, specialty retailers, direct retailers, and departmental stores. Depending on the mode of travel, it is fragmented into airports, cruise liners, railway stations, and land borders. Region wise, it is analyzed across Europe (France, Germany, Italy, Spain, the UK, Russia, and the rest of Europe) and Middle East & Europe (Turkey, Saudi Arabia, the UAE, Egypt, Israel, South Africa, Nigeria, and rest of Middle East & Africa).

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On the basis of product type, the fashion & accessories segment was valued at $323.9 million and $106.8 million in 2020 in Europe and the Middle East & Africa duty paid travel retail markets, respectively. This is attributed to the fact that African countries have their own tradition and clothing patterns, which attract large base of international and domestic consumers. Furthermore, Europe serves as the most popular travel destination for international tourists, and easy access to European people in the European Union countries is driving the growth of duty paid travel retail market. By sales channel, the direct retail segment is expected to grow at CAGR of 6.8% and 7.6% during the forecast period of Europe and the Middle East & Africa duty paid travel retail market, respectively. This is attributed to the fact that travelers seeking for specific brands generally visit direct retail stores or food lovers obsessed with their favorite food outlets look for company-operated food chains.

Frequent travelers prefer the same brands they prefer for years, which increase the popularity of direct brand retailers. Furthermore, fashion vendors and perfume vendors have their own brand outlets at airports, which are gaining high traction among consumers preferring international brands. In the food & beverages sector, local food vendors have their own food outlets, which attract food lovers, hence, sales of direct retailers are continuously increasing since last few years.

Depending on mode of travel, the railway stations segment was valued at $ 967.8 and $ 403.7 million in 2019 in Europe and the Middle East & Africa duty paid travel retail market, respectively. The increasing intercontinental connectivity through the railway among the European countries is expected to boost the duty paid travel retail demand through the railway stations. Besides, large domestic railway stations in Europe and the Middle East, and Africa are further driving the market growth.

Region wise, the Middle East & Africa duty paid travel retail market is expected to grow at significant CAGR of 7.0% during the forecast period, owing to increase in number of domestic airports in the Middle East & African countries such as Iran, Jordan, Oman, Saudi Arabia, the UAE, Kuwait, Qatar, and South Africa.

The players operating in the duty paid travel retail market have adopted portfolio and business expansion as their key developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report are Aer Rianta International, Dufry AG, Flemingo International, Gebr. Heinemann SE & Co. KG, Lagardère Travel Retail, LVMH Group, AL Tayer Group, Autogrill S.p.A., Dnata, L'oreal S.A., the Estée Lauder Companies, and WH Smith Plc.

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Key findings of the study

The Europe duty paid travel retail market was valued at $10,657.7 million in 2019, and is estimated to reach $16,884.0 million by 2030, registering a CAGR of 6.1% from 2022 to 2030.

By product type, the fashion & accessories segment of the Middle East & Africa duty paid travel retail market is estimated to witness the fastest growth, registering a CAGR of 8.2% during the forecast period.

In 2020, depending on sales channel, the specialty retail stores segment of the Europe duty paid travel retail market was valued at $ 3,754.5 million in 2019, accounting for 35.2% of the market share.

In 2020, the UK was the most prominent markets in Europe, and is projected to reach $3,511.9 million by 2030, growing at a CAGR of 5.7% during the forecast period.

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India Essential Oils Market Industry Trends, Analysis, Forecast 2022-2029

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects India essential oils market size to grow at a CAGR of 6.92% during the forecast period between 2023 and 2029. Major growth drivers for India essential oils market include the rising demand for natural and organic products, increasing awareness about the health benefits of essential oils, and the popularity of traditional medicine systems, such as Ayurveda and aromatherapy. Essential oils are highly concentrated plant extracts that are used in a wide range of personal care, cosmetic, and aromatherapy products. The market growth is being propelled by several factors, one of which is the introduction of innovative aromas and flavors, such as rose, hyssop, roman chamomile, myrrh, and grapefruit. Also, the India essential oils market is experiencing an increase in demand for organic products with longer shelf life and added health benefits, which is further boosting product adoption among consumers. Furthermore, the utilization of these products in medicines to treat dermatological, respiratory, and dental disorders is on the rise, and the Government of India (GoI) is implementing various initiatives to promote preventive healthcare. These trends are expected to contribute to the growth of India essential oils market.

India Essential Oils Market – Overview

Essential oils are highly concentrated hydrophobic fluids that contain active chemical phytoconstituents derived from different parts of plant species such as herbal plants, rinds, leaves, and barks. These oils are referred to as 'essential' as they contain the essence of plants' perfumes. Essential oils are extracted using various techniques including evaporation, cold pressing, resin pressing, solvent evaporation, expression, wax plugging, and absolute oil drilling. The primary principle behind the use of essential oils is their distinctive aromatic hydrocarbons that help to relax the body. Essential oils are widely used in pharmaceutical formulations due to their numerous health benefits, and they are derived from plants, making them safe with no adverse reactions. India essential oils are classified into various types including lemon, orange, peppermint, spearmint, lime, clove, eucalyptus, and citronella. Lemon oil provides empowering and purifying effects. Lavender oil provides comforting and soothing effects. Peppermint oil alleviates travel sickness and nausea. Bergamot oil relieves ache and aids digestion. Orange oil combats bad odors while empowering and purifying. Essential oils are utilized as a raw material in the production of different items, such as food, beverages, lavender oil products, beauty products, home healthcare products, and perfumes. Plant waste is also used as a raw material for the production of essential oils.

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Impact of COVID-19 on India Essential Oils Market

COVID-19 had detrimental impact on the essential oils market in India. The disruption in the supply chain caused by the pandemic and related lockdowns resulted in a shortage of essential oils, affecting their production and availability. Additionally, the closure of many businesses and industries reduced the demand for essential oils, including spas, salons, and other businesses that use essential oils in their services. Despite these challenges, the pandemic also created new opportunities for the essential oils market, as consumers became more health-conscious and are looking for natural remedies and products, including those that contain essential oils. Furthermore, the shift towards online shopping led to an increase in online sales for companies in the essential oils market.

India Essential Oils Market – By Product

By product, India essential oils market is segmented into Lavender Oil, Lemon Oil, Orange Oil, Frankincense, Chamomile Oil, Lime Oil, Rosemary, Tea Tree, Eucalyptus Oil, Clove Oil, and Peppermint Oil. The clove segment is expected to dominate due to its characteristics. Clove is the dried flower bud of an evergreen tree of medium size and is available in the Molucca islands of Indonesia. It is a good source of nutrients, including minerals, vitamin C and A, essential oils, non-volatile propyl extract (fat), and dietary fiber. India and the United States are the largest importers of cloves worldwide. Clover leaf oil is typically obtained through the process of evaporation.

Competitive Landscape

Major players operating in India essential oils market include GrainCorp, Malteurop, Rahr Corporation, Boortmalt, Indesso, Lipoid Kosmetic AG, The Herbarie at Stoney Hill Farm, Inc.,  International Flavors & Fragrances, Inc., Bell Flavors & Fragrances, and Rutland Biodynamics Ltd. Malteurop, Rahr Corporation, Boortmalt, Indesso, Lipoid Kosmetic AG, The Herbarie at Stoney Hill Farm, Inc.,  International Flavors & Fragrances, Inc., Bell Flavors & Fragrances, and Rutland Biodynamics Ltd. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

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[themarketinsights]

Travel Perfume Market May Set New Growth Story | Louis Vuitton, Bulgari, Sephora, Shiseido

Advance Market Analytics published a new research publication on “Global Travel Perfume Market Insights, to 2027” with 232 pages and enriched with self-explained Tables and charts in presentable format. In the study, you will find new evolving Trends, Drivers, Restraints, Opportunities generated by targeting market-associated stakeholders. The growth of the Travel Perfume market was mainly driven by the increasing R&D spending across the world.

Major players profiled in the study are:

Forest Essentials (India), Hermès (France), Louis Vuitton (France), Bulgari (Italy), Fernweh (United States), Sephora (France), Clinique Happy Perfume Spray (Switzerland), Chanel Coco Mademoiselle Eau De Parfum Intense (France), The Estee Lauder Companies Inc. (United States), Shiseido Company Limited (Japan)

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Scope of the Report of Travel Perfume

Perfume is described as a fluid instruction of herbal or artificial essences that is used for scenting. It has an extraordinarily great scent and is used through human beings to make them greater presentable. It is generally made from vital oils extracted from vegetation or spices and is used to supply a best odour to one’s body. Perfume market is a consumer-driven enterprise which is day-by-day turning from less-essential commodity to a staple everyday private grooming product. Perfume is a combination of aromatic integral oils or aroma compounds (fragrances), fixatives and solvents, generally in liquid form, used to supply the human body, animals, food, objects, and living-spaces an agreeable scent.

In 2019, Shiseido Company Limited launched a constrained “Shiseido Reiwa Commemorative Set Perfume and Face Powder” in Japan at the establishing of the new Reiwa era. The business enterprise had commenced the provider of merchandise thru Shiseido’s whole splendor carrier internet site “watashi+” on-line shop.

The Global Travel Perfume Market segments and Market Data Break Down are illuminated below:

by Nature (Natural, Synthetic), Form (Spray, Roll-on), Distribution Channel (Online Retail, Physical Retail), End-User (Male, Female, Unisex), Perfume (Extrait de parfum, Eau fraiche, Eau de toilette, Eau de cologne, Eau de perfume)

Market Opportunities:

Digitalization of the Retail Industry

Market Drivers:

Rising Consumer Spending On Premium and Luxury Fragrances Due To the High-Income Level, Along With Improving Living Standards

Increasing Inclination of Consumers towards Purchasing Products from Online and E-Commerce Channels

Market Trend:

Coupled with Increasing Demand for Luxury and Exotic Fragrances

What can be explored with the Travel Perfume Market Study?

Gain Market Understanding

Identify Growth Opportunities

Analyze and Measure the Global Travel Perfume Market by Identifying Investment across various Industry Verticals

Understand the Trends that will drive Future Changes in Travel Perfume

Understand the Competitive Scenarios

Track Right Markets

Identify the Right Verticals

Region Included are: North America, Europe, Asia Pacific, Oceania, South America, Middle East & Africa

Country Level Break-Up: United States, Canada, Mexico, Brazil, Argentina, Colombia, Chile, South Africa, Nigeria, Tunisia, Morocco, Germany, United Kingdom (UK), the Netherlands, Spain, Italy, Belgium, Austria, Turkey, Russia, France, Poland, Israel, United Arab Emirates, Qatar, Saudi Arabia, China, Japan, Taiwan, South Korea, Singapore, India, Australia and New Zealand etc.

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Strategic Points Covered in Table of Content of Global Travel Perfume Market:

Chapter 1: Introduction, market driving force product Objective of Study and Research Scope the Travel Perfume market

Chapter 2: Exclusive Summary – the basic information of the Travel Perfume Market.

Chapter 3: Displaying the Market Dynamics- Drivers, Trends and Challenges & Opportunities of the Travel Perfume

Chapter 4: Presenting the Travel Perfume Market Factor Analysis, Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis.

Chapter 5: Displaying the by Type, End User and Region/Country 2016-2021

Chapter 6: Evaluating the leading manufacturers of the Travel Perfume market which consists of its Competitive Landscape, Peer Group Analysis, BCG Matrix & Company Profile

Chapter 7: To evaluate the market by segments, by countries and by Manufacturers/Company with revenue share and sales by key countries in these various regions (2022-2027)

Chapter 8 & 9: Displaying the Appendix, Methodology and Data Source

Finally, Travel Perfume Market is a valuable source of guidance for individuals and companies.

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Thanks for reading this article; you can also get individual chapter wise section or region wise report version like North America, Middle East, Africa, Europe or LATAM, Southeast Asia.

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[sueheaven]

Duty Free Retailing Market Is Likely to Experience a Tremendous Growth in Near Future

Latest business intelligence report released on Global Duty Free Retailing Market, covers different industry elements and growth inclinations that helps in predicting market forecast. The report allows complete assessment of current and future scenario scaling top to bottom investigation about the market size, % share of key and emerging segment, major development, and technological advancements. Also, the statistical survey elaborates detailed commentary on changing market dynamics that includes market growth drivers, roadblocks and challenges, future opportunities, and influencing trends to better understand Duty Free Retailing market outlook. List of Key Players Profiled in the study includes market overview, business strategies, financials, Development activities, Market Share and SWOT analysis are:

Dufry AG (Switzerland)

Lagardere Travel Retail (Singapore)

Lotte Duty Free (South Korea)

LVMH (France)

Aer Rianta International (ARI) (Ireland)

China Duty Free Group (China)

Dubai Duty Free (United Arab Emirates)

Duty Free Americas (United States) Duty-free retailing refers to the selling of goods through retail outlets that exempt from the payment of certain local or national taxes or duties. The duty-free products are sold to the travelers who purchase them will transport these products out of the country. Further, the rise in the outbound tourists, a strong economy, the opening of new routes, and growing middle-class desire for air travel are some of the factors driving the development of the global market. Key Market Trends: High Penetration of Global Branded Products

Rapid Growth Rate of Duty-Free Retailing in Developing Regions Opportunities: Increasing Airport Traffic & Rising Consumer Spending on Duty Free Retail Products

Rising Number of Middle-Class Population and Rapid Urbanization Market Growth Drivers: Increasing International Tourism

Demand for Fashion Apparel and Accessories, Hard Luxury Goods, and Electronic Products among Consumers

High Demand for Duty Free Retail Shops Challenges: Minimum Focus of Consumers on Shopping at Point of Travel The Global Duty Free Retailing Market segments and Market Data Break Down by Type (Fashion Apparel and Accessories, Hard Luxury Goods, and Electronics, Cosmetics and Perfumes, Wines and Spirits, Tobacco, Confectionary and Fine Foods), Application (Airports, Onboard Aircraft, Seaports, Train Stations, Other)

Presented By

AMA Research & Media LLP

[tmr-research]

Airport Retailing Market Overview and Regional Outlook Study 2021 – 2031

The global airport retailing market is projected to register growth at a CAGR of 12.6% during the forecast period of 2021 to 2027. Hence, the market for airport retailing is estimated to gain a valuation of 40,592.8 Mn by 2027. The total valuation of the airport retailing market was $27,552.8 Mn in 2019.

Generally, a travel retail shop offers a wide range of items such as perfumes, cosmetics, wines, spirits, electronics, food & beverages, tobacco goods, and fashion & accessories. Moreover, airport retailing shops provide several products such as tobacco, liquors, fashion, electronics, and perfumes duty-free.

Airport travel retail holds a sizable market share in the travel retail industry. Generally, the airport retailing stores are situated at arrivals, airside, and departures sites of an airport. Over the period of past few years, there has been a notable increase in inclination among global population toward exotic and unique holiday experiences. This factor is bolstering the growth of the global airport retailing market.

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[alliedcreation]

Travel Retail Market Generating Revenue of $145.0 billion by 2028 | 14.9% Growth Rate | Allied Market research

“Travel Retail Market by Product and Channel: Global Opportunity Analysis and Industry Forecast, 2018 – 2025″,the global travel retail market size was valued at $74.9 billion in 2017, and is projected to reach $153.7 billion by 2025, growing at a CAGR of 9.6% from 2018 to 2025. Perfumes & cosmetics segment has a strong customer base in the global travel retail market. Some of the leading companies, such as Estee Lauder, LOral, Rituals Cosmetics, Revlon, and others, are expanding their businesses by opening their outlets at every international airport with an exclusive and a wide range of fragrances and skin care products.

Retailers at travel retail stores are yet to catch-up with the innovations happening outside of their world. Nevertheless, Covid-19 will certainly accelerate transformation of travel retailers especially in contactless payments, loyalty programs, and digitization . This is because billions of people travel internationally every year and spend money and time at airports. The travelers get a lot of free time at the airport to browse and buy products. In addition, travel retail creates more visibility for their products, which draws the attention of new customers in different countries and increases brand loyalty of existing customers.

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Development of the travel & tourism industry, rapid urbanization, and changes in lifestyle, owing to increased disposable income of consumers drive the growth of the travel retail market. In addition, increase in travel & tourism or international tourist arrivals in the emerging economies, such as Asia-Pacific and LAMEA is anticipated to create lucrative opportunities for the global travel retail market. However, unorganized local markets and stringent regulations in airport retailing hamper the growth of the travel retail market.

Wines & spirits is the second largest revenue contributor in the global travel retail market. The consumption of wines, particularly luxury wines and spirits has witnessed considerable growth in the past few years. Wines & spirits, of the total, have 15.9% of the travel retail market share. In addition, it has been observed that luxury wines & spirits are highly preferred by the international passengers, which leads to the growth of the market. Passengers travelling over distances mostly prefer wines & spirits. Also, the growth in culture of owning luxurious goods and consumption of expensive wines & spirits are driving the growth of the market.

Asia-Pacific is the largest travel retail market in the world, and is growing at the fastest rate owing to improvements in living standards, rise in disposable income, improvement in lifestyle, and development of the tourism industry. Furthermore, Europe is one of the largest travel retail markets, owing to its stronger base of luxury products. It is anticipated to have the fastest travel retail market growth with a CAGR of 7.2% in the forecasted period.

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The region possesses some of the biggest apparels and cosmetics brands, namely, LVMH from France and H&M from Sweden, which hold a significant share in the luxury apparels, perfumes, and cosmetics sector, thereby making it the second largest travel retail market. Wealthy tourists from the Middle East, China, the U.S., and Russia contribute significantly toward the growth of the European travel retail market. Being the historical home of most of the luxury houses, Europes market accounts for nearly $23 billion of the travel retail sector.

Key Findings of the Travel Retail Market :- By channel, the airports segment accounted for the maximum market revenue in 2017, and is projected to grow at a CAGR of 9.6% during the forecast period. By channel, the border, downtown, & hotel shops segment is expected to grow at the highest CAGR of 10.1%. By product type, the perfumes & cosmetics segment accounted for more than 31% of travel retail market share in 2017, and is expected to dominate the global market by 2025. By product type, the luxury goods segment is expected to grow at the highest CAGR of 12% during the forecast period. China was the major shareholder in the Asia-Pacific travel retail industry, and accounted for around 67.4% share in 2017

The major players profiled in this report include :- Aer rianta international China duty free group co., ltd. Dufry ag Duty free americas, inc Gebr. Heinemann se & co.kg King power international Lotte hotel Lagardère sca (lagardère travel retail) Lvmh group (dfs group limited) The shilla duty free

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[yashallied]

Travel Retail Market Expected to Reach $187 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Travel Retail Market," 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.

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.

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However, unorganized local markets and stringent regulations in airport retailing hamper the growth of the travel retail market. The government rigid rules & policies for the air traveler passengers are projected to hamper the growth of the travel retail market. Governments of different countries apply different rules to their air travelers such as the Indian Ministry of Commerce and Industry has proposed to reduce the number of bottles of alcoholic beverages that a passenger can buy through a duty-free outlet, when returning from overseas trip.

In addition, it has been observed that luxury wines & spirits are highly preferred by the international passengers, which leads to the growth of the market. Passengers traveling over distances mostly prefer wines & spirits as beverages. Moreover, growth in culture of owning luxurious goods and consumption of expensive wines & spirits drive travel retail market demand.

Furthermore, Europe is the second largest travel retail markets, owing to its stronger base of luxury products. It is anticipated to have the fastest growth with a CAGR of 7.2% during the forecast period. The region possesses some of the biggest apparels and cosmetics brands, namely, LVMH from France and H&M from Sweden, which hold a significant share in the luxury apparels, perfumes, and cosmetics sector, thereby making it the second largest travel retail market. Wealthy tourists from the Middle East, China, the U.S., and Russia contributes significantly toward the European travel retail market growth. Being the historical home of most of the luxury houses, Europe’s market accounts for nearly $23 billion of the travel retail sector.

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.

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As per the distribution channel, the airports segment held the major travel retail market share in 2021 and is expected to dominate the global market at a significant CAGR during the forecast period 2022-2031. Airports follow general retail shop concept as it carries a diversity of items and includes full range of product categories, such as perfumes & cosmetics, tobacco goods, wines & spirits, electronics, and food & confectionery. These retail shops at airports are located in central areas with high passenger flow, which attracts the customers to visit the stores. New outlets have been opened by L’Oreal and Estee Lauder at airports globally considering the high footfalls of the passenger.     

Depending on the region, Asia-Pacific held the major share in 2021 and is expected to dominate the global market at a significant CAGR during the forecast period 2022-2031. Growth of the travel & tourism segment along with rise in number of international routes is majorly driving the market for duty-free retailing in Asia-Pacific. Moreover, increase in levels of urbanization along with the advent of low-cost carrier airlines are driving the sales of duty-free travel retail products in the region. The market is further driven by growth and emergence of duty-free stores around the various international seaports and airports.

The key players in the travel retail market analysis have focused on expanding their business operations in the emerging countries by adopting various strategies, such as acquisition and contact/agreement. The major players profiled in this report include DFS Group, Dufry, LS travel retail, Lotte Duty Free, King Power International Group, The Shilla Duty Free, Gebr, Heinemann, China Duty Free Group (CDFG), Aer Rianta International (ARI), and The Naunace Group.

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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.

[delicatemagazinedreamer]

Duty Free Retailing Market Comprehensive Analysis and Future Estimations 2026

Duty-free retailers are those who sell goods to visitors from other countries while being exempt from some local and federal taxes and levies. However, taxes could be applied if the buyer reaches his or her destination nation or the price or number of goods exceeds specific thresholds. These merchants can be found in international airports, border towns, seaports, train stations, and even inside aircraft and ships. Along with smokes, chocolates, electronics, and accessories, there are also perfumes, cosmetics, and alcohol for sale.

The size of the worldwide Duty Free Retailing Market was notably large in 2020, and it is anticipated to post a consistent revenue CAGR during the forecast period. Rising disposable income, supporting government actions to help the travel and tourism industry, ongoing expansion in the travel and tourism industry, together with integration of several categories like infrastructure and hospitality, are key drivers of market revenue growth. Global middle-class population expansion is predicted to be supported by low-cost travel packages provided by different travel package providers.

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