Travel Retail Market Report 2024 (Global Edition)

Global Travel Retail Market Report 2024 Market Size Split by Product Type (Perfume and Cosmetics, Food, confectionery and catering, Wine and spirits, Luxury goods, Tobacco, Electronics, Others), by Di...

Travel Retail Market Report Description

We have various report editions of Travel Retail Market, hence please contact our sales team and author directly to obtain/purchase a desired Edition eg, Global Edition, Regional Edition, Country Specific Report Edition, Company Profiles, Forecast Edition, etc. Request for your Free Sample PDF/Online Access.

Competitive Landscape of the Travel Retail Market

The competitive landscape of the Travel Retail market is characterized by a diverse range of players competing to gain market share through product innovation, strategic partnerships, and aggressive marketing efforts. Key players in the market include established electronics manufacturers, specialized Travel Retail companies, and emerging start-ups aiming to disrupt the market with innovative solutions.

Ocotober 2023: DFS Group, the travel retail business of the famed French company LVMH, is strategically creating a large entertainment and shopping complex on China's duty-free island of Hainan. This strategic move is intended to capitalize on the booming tourism business, which has shown extraordinary endurance even during economic downturns. (Source: https://jingdaily.com/posts/dfs-group-sanya-yalong-bay-lvmh)

Top Companies Market Share in Travel Retail Industry: (In no particular order of Rank)

• Aer Rianta International
• China Duty Free Group
• Dufry AG
• DFS Group (LVMH Group)
• Dubai Duty Free
• Duty Free Americas
• Inc.
• Ever Rich Duty Free
• Flemingo
• Gebr Heinemann
• Heinemann SE & Co. KG
• J.R. GROUP
• King Power International Group
• Lotte Duty Free
• Lagardere Travel Retail
• Qatar Duty Free
• Sinsegae Duty Free
• The Shilla Duty Free
• 3Sixty Duty Free
• Confidential Data
• Access The Paid Version
• Data Hidden

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Travel Retail Market

Which Region Dominates the Travel Retail Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024. It accounted for around 40% of the global revenue. North America is witnessing a developing travel retail market, fueled by growing passenger traffic and growing consumer spending inside transportation hubs, inclusive of airports and border crossings. This growth is driven by means of elements along with the vicinity's robust economy, rising tourism, and a growing call for duty-unfastened buying reviews, contributing to the general boom of the travel retail region.

Which Region is Expanding at the Fastest CAGR?

Europe stands out as the fastest-growing region in the Travel Retail market due to several compelling reasons. ?Europe is experiencing a surge in its tour retail marketplace, buoyed by expanding global tourism and growing consumer calls for responsibility-free shopping. Major transportation hubs like airports and railway stations are witnessing accelerated footfall, contributing to better sales of luxury items, cosmetics, and different products. This increase is supported through elements such as improving financial situations and the region's recognition as a traveler vacation spot.

The current report Scope analyzes Travel Retail Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Travel Retail

According to Cognitive Market Research, the global Travel Retail market size was estimated at USD 25142.6 Million, out of which North America held the major market of more than 40% of the global revenue with a market size of USD 10057.04 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.2% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Travel Retail market with a market size of USD 7935.00 million in 2024 and is projected to grow at a CAGR of 3.0% during the forecast period. The demand is amplified by the rising tourism.
• The Canada Travel Retail market had a market share of USD 1206.84 million in 2024 and is projected to grow at a CAGR of 4.0% during the forecast period. Canada's airport expansions.
• The Mexico Travel Retail market is projected to witness growth at a CAGR of 3.7% during the forecast period, with a market size of USD 915.19 million in 2024.

Europe Travel Retail

According to Cognitive Market Research, the global Travel Retail market size was estimated at USD 25142.6 Million out of which Europe held the market of more than 30% of the global revenue with a market size of USD 7542.78 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.5% from 2024 to 2031.

• The United Kingdom Travel Retail market had a market share of USD 1267.19 million in 2024 and is projected to grow at a CAGR of 4.3% during the forecast period. In the UK, Travel Retail sales witness an upswing due to the disposable income growth.
• The France Travel Retail market is projected to witness growth at a CAGR of 2.7% during the forecast period, with a market size of USD 693.94 million in 2024.
• According to Cognitive Market Research, the Germany Travel Retail market size was valued at USD 1493.47 million in 2024 and is projected to grow at a CAGR of 3.7% during the forecast period. In Germany, Travel Retail sales surged due to the luxury goods demand.
• The Italy Travel Retail market is projected to witness growth at a CAGR of 2.9% during the forecast period, with a market size of USD 648.68 million in 2024.
• The Russia Travel Retail market is projected to witness growth at a CAGR of 2.5% during the forecast period, with a market size of USD 1169.13 million in 2024.
• The Spain Travel Retail market is projected to witness growth at a CAGR of 2.6% during the forecast period with a market size of USD 618.51 million in 2024
• The Luxembourg Travel Retail market is projected to witness growth at a CAGR of 3.6% during the forecast period, with a market size of USD 233.83 million in 2024.
• The Portugal Travel Retail market is projected to witness growth at a CAGR of 3.3% during the forecast period, with a market size of USD 158.40 million in 2024.
• The Greece Travel Retail market is projected to witness growth at a CAGR of 3.8% during the forecast period, with a market size of USD 90.51 million in 2024.
• Rest of Europe's Travel Retail market is projected to witness growth at a CAGR of 2.2% during the forecast period, with a market size of USD 1169.13 million in 2024.

Asia Pacific Travel Retail

According to Cognitive Market Research, the global Travel Retail market size was estimated at USD 25142.6 Million, out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 5782.80 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.00% from 2024 to 2031.

• According to Cognitive Market Research, the China Travel Retail market size was valued at USD 2602.26 million in 2024 and is projected to grow at a CAGR of 6.5% during the forecast period. Travel Retail sales surge in China due to the globalization.
• The Japan Travel Retail market is projected to witness growth at a CAGR of 5.5% during the forecast period, with a market size of USD 798.03 million in 2024.
• The India Travel Retail market had a market share of USD 693.94 million in 2024 and is projected to grow at a CAGR of 8.8% during the forecast period. India's duty-free incentives.
• The South Korea Travel Retail market is projected to witness growth at a CAGR of 6.1% during the forecast period, with a market size of USD 578.28 million in 2024.
• The Australia Travel Retail market is projected to witness growth at a CAGR of 6.7% during the forecast period, with a market size of USD 300.71 million in 2024.
• The South East Asia Travel Retail market is projected to witness growth at a CAGR of 8.0% during the forecast period, with a market size of USD 399.01 million in 2024.
• The Rest of Asia Pacific Travel Retail market is projected to witness growth at a CAGR of 6.8% during the forecast period, with a market size of USD 410.58 million in 2024.

South America Travel Retail

According to Cognitive Market Research, the global Travel Retail market size was estimated at USD 25142.6 Million out of which Latin America market of more than 5% of the global revenue with a market size of USD 1257.13 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.4% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil Travel Retail market size was valued at USD 538.05 million in 2024 and is projected to grow at a CAGR of 5.0% during the forecast period. Travel Retail sales flourish in Brazil due to the brand presence.
• Argentina Travel Retail market had a market share of USD 211.20 million in 2024 and is projected to grow at a CAGR of 5.3% during the forecast period. Argentina's travel frequency.
• Colombia Travel Retail market is projected to witness growth at a CAGR of 4.2% during the forecast period with a market size of USD 111.88 million in 2024.
• Peru Travel Retail market is projected to witness growth at a CAGR of 4.6% during the forecast period with a market size of USD 103.08 million in 2024.
• Chile Travel Retail market is projected to witness growth at a CAGR of 4.7% during the forecast period with a market size of USD 90.51 million in 2024.
• The Rest of Latin America Travel Retail market is projected to witness growth at a CAGR of 3.5% during the forecast period, with a market size of USD 202.40 million in 2024.

Middle East and Africa Travel Retail

According to Cognitive Market Research, the global Travel Retail market size was estimated at USD 25142.6 Million, out of which the Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 502.85 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.7% from 2024 to 2031.

• The GCC Countries Travel Retail market is projected to witness growth at a CAGR of 5.5% during the forecast period with a market size of USD 215.22 million in 2024. Travel Retail sales flourish due to the growing consumer spending habits.
• The Egypt Travel Retail market is projected to witness growth at a CAGR of 5.0% during the forecast period, with a market size of USD 52.80 million in 2024.
• The South Africa Travel Retail market is projected to witness growth at a CAGR of 5.7% during the forecast period, with a market size of USD 79.45 million in 2024. Travel Retail sales flourish in South Africa due to the e-commerce integration.
• The Turkey Travel Retail market is projected to witness growth at a CAGR of 4.2% during the forecast period, with a market size of USD 43.25 million in 2024.
• The Nigeria Travel Retail market is projected to witness growth at a CAGR of 3.8% during the forecast period, with a market size of USD 52.80 million in 2024.
• The Rest of MEA Travel Retail market is projected to witness growth at a CAGR of 3.7% during the forecast period, with a market size of USD 59.34 million in 2024.

Travel Retail Market Analysis

Travel Retail Market Product Type Segment Analysis

According to Cognitive Market Research, Perfume and Cosmetics stands out as the dominating category. The perfume and cosmetics phase is a thriving zone in the growing travel retail market. With more and more travelers looking for luxurious and premium splendor products, obligation-free shops at airports and different tour hubs are witnessing an upward thrust in sales. This boom is pushed by factors including the desire for unique products and the ease of purchasing high-cease cosmetics while traveling.

Food, confectionery and catering emerges as the fastest-growing category in the Travel Retail market. The meals, confectionery, and catering phase is a burgeoning area in the increasing journey retail market. Travelers' call for convenient, great food alternatives at the same time as at the circulate has brought about the boom of dining establishments, snack bars, and distinctiveness food shops in airports, train stations, and different transportation hubs. This trend is fueled by the growing emphasis on presenting various culinary reviews for vacationers worldwide..

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Travel Retail Industry. Request a Free Sample PDF!

Travel Retail Market Distribution Channel Segment Analysis

According to Cognitive Market Research, the dominating category is Airports. Airports are a focal point for the burgeoning journey retail marketplace, experiencing sizeable growth because of growing passenger numbers and expanding infrastructure. With a captive audience of tourists, airports offer a wide array of retail alternatives, including luxurious boutiques, obligation-free stores, dining retailers, and comfort shops. This growth is fueled by growing worldwide tour traits and the evolving choices of modern-day tourists.

The fastest-growing category in the Travel Retail market is Cruise Liners. Cruise liners are emerging as a substantial contributor to the developing tour retail marketplace, presenting passengers a unique buying revel in onboard. These floating lodges provide various retail opportunities, such as responsibility-free shops, luxury boutiques, and area-of-expertise stores, catering to the wishes and choices of travelers in the course of their voyage. With the growing popularity of cruises as excursion alternatives, the cruise retail quarter continues to make bigger unexpectedly.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Author's Detail

Kalyani Raje

Senior Research Analyst at Cognitive Market Research

LinkedIn

Profile

An optimistic Senior Research Analyst with years of experience in competitive assessment and business consulting. A seasoned professional and subject-matter expert (SME) in the Automobile & Transportation vertical.

Author's Conclusion