Travel Retail Market Overview:
The Travel Retail market study gives a complete view of the competition, including the market share and company profiles of the worldwide industry's leading competitors. The scope of the research includes a full assessment of the Travel Retail Market, as well as the reasons for variations in the industry's growth across a number of sectors.
Anticipated Revenue Growth:
Travel Retail Market size was valued at US$ 53.82 Bn. in 2021 and the total Global Travel Retail revenue is expected to grow by 9.2% from 2022 to 2029, reaching nearly US$ 108.82 Bn.
Market Scope:
To validate the market size and estimate the market size by different segments, top-down and bottom-up methodologies are utilized. The research's market estimates are based on the sale price (excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders). Weights applied to each section based on usage rate and average sale price are used to determine percentage splits, market shares, and segment breakdowns. The percentage adoption or usage of the provided market Size in the relevant area or nation is used to determine the country-wise splits of the overall market and its sub-segments.
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Travel Retail Market Segmentation:
By Sales Channel Segment, the airport industry dominated the market in 2021, with the biggest market share. As a result of decreased prices and improved living conditions, it is projected that an increasing number of air travellers would contribute to segment growth. Additionally, efforts by numerous airports to boost non-aeronautical resource profitability have fueled the expansion of this segment's retail market. The category of border, downtown, and hotel retailers is anticipated to experience the fastest growth over the forecasting period. These kinds of shops showcase the newest fashion trends. Contrary to the airport area, rentals are lower for retailers in border and downtown areas.
Key Competitors:
Primary and secondary research is used to identify market leaders, while primary and secondary research is utilized to determine market revenue. Primary research included in-depth interviews with key opinion leaders and industry specialists such as experienced front-line personnel, CEOs, and marketing executives. Secondary research included a review of the leading manufacturers' annual and financial reports, whereas primary research included in-depth interviews with key opinion leaders and industry specialists such as experienced front-line personnel, CEOs, and marketing executives. Secondary sources are utilized to compute percentage splits, market shares, growth rates, and global market breakdowns, which are then checked using primary data.
The biggest players in the Travel Retail market are as follows:
• Dufry Group
• Lotte Duty-Free
• The Shilla Duty-Free
• China Duty-Free Group
• Lagardére Travel Retail
• DFS Group
• Gebr Heinemann
• Shinsegae Duty-Free
• King Power International Group (Thailand)
• Ever Rich Duty-Free Shop
• Dubai Duty-Free
• Duty-Free Americas
• Aer Rianta International
• WHSmith
• Japan Airport Terminal Co
• Starboard Cruise Services
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Regional Analysis:
Individual market influencing components and changes in market regulations affecting the present and future market trends are also included in the regional overview of the Travel Retail market analysis. Current and future trends are researched in order to assess the entire market potential and identify profitable patterns in order to get a stronger foothold. The geographical market assessment is based on the present environment and expected developments.
COVID-19 Impact Analysis on Travel Retail Market:
End-user industries where Travel Retail are utilized saw a decline in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, and the United States, as well as Spain, France, and India, due to a pause in operations. This resulted in a significant drop in the revenues of enterprises in these industries, as well as in demand for Travel Retail manufacturers, affecting the Travel Retail market's growth in 2020. End-user business demand for Travel Retail has plummeted as a result of lockdowns and an increase in COVID-19 events throughout the world.
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Key Questions Answered in the Travel Retail Market Report are:
In 2021, which segment accounted for the most share of the Travel Retail market?
What is the competitive landscape of the Travel Retail market?
What are the key factors influencing Travel Retail market growth?
In the Travel Retail market, which region has the most market share?
What will be the CAGR of the Travel Retail market during the forecast period (2022-2029)?
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