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Sector Analysis
Asia-Pacific Duty-Free Retail Market by Sector Analysis, Tourism Landscape, Opportunities, Innovations, Key Players and Forecast to 2026
Asia-Pacific (APAC) Duty-Free Retailing Market Overview The APAC duty-free retailing market size was valued at $32.7 billion in 2022. The market is projected to grow at a CAGR of more than 13% during the period 2023-2026, making it the fastest-growing region, ahead of Europe. To cater to the rising demand in the region, many airports in the Asia-Pacific region are expanding and modernizing, giving duty-free stores greater space enabling them to attract more customers. Moreover, the demand for premium and...
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Sector Analysis
Middle East and Africa Duty-Free Retail Market by Sector Analysis, Tourism Landscape, Innovations, Key Players and Forecast to 2026
Middle East and Africa (MEA) Duty-Free Retailing Market Overview The MEA duty-free retailing market size was valued at $3.2 billion in 2022. The market witnessed a significant growth in 2022 mainly driven by the relaxation of COVID-19 restrictions and an increase in consumer confidence to travel. The duty-free market will recover further in the next few years, helped by the expansion of airports, the inauguration of new airport terminals, and significant new retail space. MEA Duty-Free Retailing Market Overview (2022-2026)...
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Sector Analysis
Europe Duty-Free Retail Market by Sector Analysis, Tourism Landscape, Opportunities, Innovations, Key Players and Forecast to 2026
Europe Duty-Free Retailing Market Overview The Europe duty-free retailing market size was valued at $9.5 billion in 2022. The market is projected to grow at a CAGR of more than 21% during the period 2020-2026. Europe experienced a strong revival in air and cruise traffic during 2022. European airports experienced a surge in tourism. This was triggered by the declining Euro making the region more affordable for foreign travelers and by the relaxation of travel restrictions post pandemic. Europe Duty-Free...
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Sector Analysis
Duty Free Retailing in Europe, 2015–2020; Market Dynamics, Retail Trends, and Competitive Landscape
European duty free market declined during 2010-2015 affected by the Eurozone crisis but is expected grow at a faster pace during the next five years. The market has recorded consistent growth in terms of local currency driven by surge in international arrivals and duty free spending from emerging markets travelers, mainly Chinese, who splurge on duty free luxury goods shopping to take advantage of favorable exchange rates. These factors together with expansion of airport retail space, launch of innovative concepts,...
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Sector Analysis
Duty Free Retailing in Asia-Pacific, 2015–2020; Market Dynamics, Retail Trends, and Competitive Landscape
Asia-Pacific duty free retail market recorded CAGR of 9.4% during 2010–2015 driven by increase in Chinese duty free spending and expansion of duty free retail space. Growing tourism, expansion of off-airport duty free locations, rising online duty free sales are key factors that will positively influence the regional duty free sales. However, devaluation of Chinese Yuan will reduce purchasing power of high spending Chinese duty free shoppers. To entice this cohort, majority of the Asian countries are easing their visa...
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Analyst Opinions
Global Duty Free Retailing, 2015–2020; Market Dynamics, Retail Trends, and Competitive Landscape
Duty free channel has produced notable growth over the last five years; however, it was far below its potential as the market was largely impacted by recession and the European crisis. Over the next five years, the market is expected to expand at a faster rate mainly driven by increasing number of international travelers, supported by growth of low cost airlines and new air routes across the world, modernization of airports, and new duty free retail space. In addition, organic...
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Sector Analysis
Duty Free Retailing in Middle East and Africa, 2018-2023
The Middle East & Africa (MEA) registered duty free sales of US$4.1 billion in 2019 and sales are forecast to grow at a CAGR of 4.0% over 2019-2023 to reach US$4.8 billion. UAE is the largest market in the MEA region, with sales of US$2.5 billion in 2019. The market is estimated to grow at a CAGR of 4.3% to US$2.9 billion by 2023, ensuring it retains its position as the largest duty free market in the region. Middle East...
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Sector Analysis
Duty Free Retailing in Asia-Pacific, 2018-2023
Asia-Pacific Duty-Free Retailing, 2018-2023 provides an overview of the duty free retailing in the region which includes key trends, key retail innovations, regional, country and sector analysis along with major duty free retailers in the region and competative land scape APAC is the largest and fastest-growing duty-free market, with sales of US$38.3 billion in 2019, accounting for more than half of the global duty-free channel sales (58.1%).