Duty-Free Retail Market Trends and Analysis by Region, Sector, Tourism Landscape, Retail Innovations, Key Players and Forecast to 2028
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This report provides an overview of the global duty-free retailing which includes Market & Category Expenditure and Forecasts, Trends, and Competitive Landscape
Continuing expansion of the global duty-free market hinges on further passenger number growth and infrastructure investment
APAC duty-free market is expected to grow fastest, fueled by rising income levels and international travelers
Avolta has the greatest share of the duty-free market in 2023
Duty-Free Retailing Market Drivers
Luxury goods, digital advances, and personalization are a few of the key drivers of the duty-free retail market. Digital innovation in bricks & mortar stores and omnichannel capabilities in airports are being introduced to enhance customers’ shopping experiences, reduce crowding, and strengthen communication with customers.
Additionally, tapping into the growth for luxury goods will be a key sales driver for duty-free retailers over the forecast period. A major part of this expansion will come from duty-free retail as shoppers respond positively to the growing presence of luxury brands in international airports.
Duty-Free Retailing Market Trends
A few of the duty-free retailing market trends are:
- Changing consumer tastes and preferences are influencing duty-free retailers to change their offerings.
- Low- and no-alcohol categories will gain momentum in duty-free liquor sales, especially after the pandemic, as consumers around the world are more health-conscious.
- Players in the travel industry, such as hotels, restaurants, and tour operators, are embracing this trend by offering more alcohol-free beverages.
- In line with this trend, low- and no-alcohol categories will make up a higher proportion of offerings in duty-free liquor stores in the coming years.
- Furthermore, duty-free retail brands are focusing on bringing more sustainability into their ecosystems.
Duty-Free Retailing Market Segmentation by Sectors
Cosmetics and toiletries had the highest share in the duty-free retailing market in 2021
The key sectors in the duty-free retailing market are cosmetics and toiletries, drinks, jewelry and watches, food, tobacco, accessories, womenswear, communications equipment, menswear, printed media, and others.
Duty-Free Retailing Market Sector Analysis 2021 (%)
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Duty-Free Retailing Market Segmentation by Regions
APAC had the highest share in the duty-free retailing market in2022
Americas, APAC, Europe, MEA, and others are the key regions in the duty-free retailing market.
Asia Pacific: APAC market is expected to grow as key players extend their operations in the region. An increase in the number of will underpin this growth. Improving performances of economies such as India after the pandemic, resuming business travel in the region, and continued investment in airport infrastructure will support a rise in passenger numbers and duty-free channel growth. In the APAC region, there has been a big increase in the sale of cosmetics and perfumes.
Duty-Free Retailing Market Regional Analysis, 2021 (%)
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Duty-Free Retailing Market Segmentation by Retailers
Lotte Duty Free had the largest market share in 2020.
The key retailers in the duty-free retailing market are:
- Lotte Duty Free
- Shinsegae DF
- DUFRY
- DFS
- Dubai Duty Free
- Others
Duty-Free Retailing Market Retailer Analysis, 2021 (%)
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Segments Covered in the Report
Duty-Free Retailing Market Outlook by Region (Value, $ Billion, 2016-2026)
- APAC
- Europe
- MEA
- Americas
Duty-Free Retailing Market Outlook by Sectors (Value, $ Billion, 2016-2026)
- Cosmetics and Toiletries
- Drinks
- Jewelry and Watches
- Food
- Tobacco
- Accessories
- Womenswear
- Communications Equipment
- Menswear
- Printed Media
Key Highlights
In 2023, the global duty-free market experienced robust growth of 27.7%, driven by a surge in demand for luxury goods. The Asia-Pacific duty-free market is forecast to be the fastest growing region in 2024, growing by 18.4% during the year, driven by the subsiding of economic issues and rising tourism levels. This will enable the region to increase its share of the global duty-free market from 63.5% in 2023 to 65.0% in 2024. After a successful merger with Autogrill which enabled it to improve its product proposition and services, Dufry (Avolta) leads with an 8.8% share of the global duty-free market in 2023.
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Analysis of key duty free players operating globally
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Analysis of key international players operating in Global Duty Fee retail market — including store counts and revenues that give you a competitive edge and identify opportunities to improve your market share
Lotte Duty Free
Dubai Duty Free
Shinsegae DF
DFS
King Power
Duty Free Americas
Heinemann
Travel Retail Norway
Aelia Duty Free
Table of Contents
Table
Figures
Frequently asked questions
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What was the duty-free retailing market size in 2022?
The duty-free retailing market size was valued at $49.0 billion in 2022.
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What is the growth rate of the duty-free retailing market?
The duty-free retailing market is projected to grow at a CAGR of more than 28% during the period 2020-2026.
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Which is the leading sector in the duty-free retailing market?
Cosmetics and toiletries had the highest share in 2021 in the duty-free retailing market.
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Who are the key retailers in the duty-free retailing market?
The key retailers in the duty-free retailing market are Lotte Duty Free, Shinsegae DF, DUFRY, DFS, Dubai Duty Free, King Power, Duty Free Americas, Heinemann, James Richardson, and Travel Retail Norway.
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