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Travel Retail Market Trends, Size, Share, Growth and Emerging Technologies 2029

Submitted by manasi05 on Fri, 03/24/2023 - 23:08

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.

Travel Retail Market Overview:

The report focuses on aspects such as gross margin, cost, market share, capacity utilization, and supply that affect Travel Retail Market. It also helps in understanding Travel Retail Market's future potential in the succeeding years. The report provides a market overview by standard topics which are highlighted with customized data according to the necessity. This overview helps in decisions on how to approach the market and understand the context of the industry. The research analyst has said that the APAC region is a lucrative opportunity for the Travel Retail market and components manufacturers for the next ten years.

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Travel Retail Market Scope:

MMR's research is a thorough examination of the Travel Retail market; it also identifies all of the top companies in the global market based on variables such as volume, share, strategies, and growth. In theTravel Retail market, the research looks at each producers manufacturing sites, capacity, production, ex-factory price, market price, sales revenue, and market share. Import/export consumption, supply and demand, cost, price, share, sales volume, revenue, and gross margins are all covered in this Travel Retail market research. For the competitive analysis, the report includes the profile of the key market players in the Travel Retail market including company overview, financial performance, product portfolio, and strategies.

Segmentation Analysis:

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. Moreover, 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.

For each Product Segment, Due to rising sales of various personal care products through various retail locations, the perfume and cosmetics industry had the greatest revenue share in 2020. At airports all throughout the world, L'Oreal and other cosmetics brands are constructing new boutiques. This component is anticipated to accelerate segment expansion even more. The second-largest industry in 2020 was wine and spirits, and growth is anticipated to be steady going forward. Since they are more affordable there, alcoholic beverages are among the items that people most frequently purchase from duty-free shops.

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Key Competitors:

• 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

The report looks at the most recent notable breakthroughs in the Travel Retail market, as well as the major producers and inventors. To implement future business growth and expansion in a predictable time period, vendors should employ sequential merger and acquisition plans, geographic development strategies, research and development (R & D) strategies, and new product launch strategies, or explain the most advantageous fit.

Regional Analysis:

The market's key geographies, as well as notable segments and sub-segments, are examined in the Travel Retail Industry Research. This Travel Retail market report includes figures, geographies, and revenue, as well as an in-depth examination at the business chain structure, opportunities, and industry news. The reports help in planning the market strategies which are suitable and appropriately applicable according to specific countries and regions in the market.

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Key Questions answered in the Travel Retail Market Report is:

Which product segment grabbed the largest share in the Travel Retail market?
How is the competitive scenario of the Travel Retail market?
Which are the key factors aiding the Travel Retail market growth?
Which region holds the maximum share in the Travel Retail market?
What will be the CAGR of the Travel Retail market during the forecast period?
Which application segment emerged as the leading segment in the Travel Retail market?
Which are the prominent players in the Travel Retail market?
What key trends are likely to emerge in the Travel Retail market in the coming years?
What is the expected global Travel Retail market size by 2029?
Which company held the largest share in the Travel Retail market?
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