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Duty-free Retailing Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026

  • Published: Jun 2022
  • Pages: 120
  • SKU: IRTNTR40625
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Based on Technavio's market sizing methodology, the duty-free retailing market size is predicted to surge to USD 6.04 billion from 2021 to 2026 at a CAGR of 8.56%. This duty-free retailing market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. The duty-free retailing market report also offers information on several market vendors, including Aer Rianta International, Changi Airport Group Singapore Pte. Ltd., China Duty Free Group Co. Ltd., Delhi Duty Free Services Pvt. Ltd., DFS Group Ltd., Dubai Duty Free, Dufry AG, Duty Free Americas Inc., Flemingo International, Gebr. Heinemann SE and Co. KG, Hyundai Department Store Group Co. Ltd., Japan Airport Terminal Co. Ltd., King Power Group, Lagardere SA, Lotte Corp., Mumbai Duty Free, Samsung Electronics Co. Ltd., and SHINSEGAE INTERNATIONAL among others. Furthermore, this report extensively covers duty-free retailing market segmentation by:

  • Product - Fashion apparel and accessories, Cosmetics and perfumes, Tobacco and alcoholic beverages, and Confectionery and fine food
  • Distribution Channel - Airports and Others
  • Geography - APAC, Europe, North America, Middle East and Africa, and South America

What will the Duty-free Retailing Market Size be During the Forecast Period?

Duty-free Retailing Market Size

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Who are the Major Duty-free Retailing Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Aer Rianta International
  • Changi Airport Group Singapore Pte. Ltd.
  • China Duty Free Group Co. Ltd.
  • Delhi Duty Free Services Pvt. Ltd.
  • DFS Group Ltd.
  • Dubai Duty Free
  • Dufry AG
  • Duty Free Americas Inc.
  • Flemingo International
  • Gebr. Heinemann SE and Co. KG
  • Hyundai Department Store Group Co. Ltd.
  • Japan Airport Terminal Co. Ltd.
  • King Power Group
  • Lagardere SA
  • Lotte Corp.
  • Mumbai Duty Free
  • Samsung Electronics Co. Ltd.
  • SHINSEGAE INTERNATIONAL

 

This statistical study of the duty-free retailing market encompasses successful business strategies deployed by the key vendors. The duty-free retailing market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • ari.ie - The company offers solutions for duty free retailing in travel sector by managing duty free and duty paid retail outlets in Europe, The Middle East, Asia Pacific and the Americas.

  • ari.ie - Under this segment, the company owns and manages duty free and duty paid retail outlets by managing the retail operations, procurement and merchandising, designing and construction, implementation and logistics and marketing.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The duty-free retailing market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Duty-free Retailing Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the duty-free retailing market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Duty-free Retailing Market?

Duty-free Retailing Market Market segmentation by region

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44% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for duty-free retailing in APAC. Market growth in this region will be faster than the growth of the market in the European, MEA and South American regions.

The growing travel and tourism sector and the increasing number of new international connections will facilitate the duty-free retailing market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The region was jolted by the outbreak of COVID-19 in the first quarter of 2020. Large countries, such as China and India, witnessed nationwide lockdowns to contain the spread of the disease in 2020. However, due to governments' announcement of relief stimulus packages in APAC, economic activities rebounded by the end of 2021. Moreover, the initiation of vaccination drives has led to a decline in the number of COVID-19 cases in the region. This has resulted in the resumption of domestic and international flights. Such factors will drive the growth of the duty-free retailing market during the forecast period.

What are the Revenue-generating Product Segments in the Duty-free Retailing Market?

Duty-free Retailing Market Segmentation

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The duty-free retailing market share growth by the fashion apparel and accessories segment will be significant during the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the duty-free retailing market size and actionable market insights on post COVID-19 impact on each segment.

Duty-free Retailing Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The growing international tourism is notably driving the duty-free retailing market growth, although factors such as the stringent government regulations on duty-free tobacco products may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the duty-free retailing market industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Duty-free Retailing Market Driver

One of the key factors driving growth in the duty-free retailing market is the growing international tourism. The number of inbound and outbound tourists has increased rapidly, resulting in an increase in airport visitors across the world. The increase in the number of foreign and domestic business, leisure, and sports trips is a major driver behind this growth. For instance, sports tournaments such as Summer Olympic Games, UEFA Euro, UEFA Champions League, and Premier Leagues attract participants from all over the world. Sports events are held in various nations across the world every year, contributing to an increase in the number of international tourists and visitors, which boosts retail sales of luxury and branded products, particularly through duty-free outlets.  The highest revenue-generating countries in the tourism sector in North America include the US, Mexico, and Canada, while China, Thailand, and Malaysia are the major contributors to APAC. Therefore, the growing number of international tourist arrivals around the globe is expected to contribute to the increase in footfalls at the duty-free stores in airports, which, in turn, will drive the sales in the global duty-free retailing market.

Key Duty-free Retailing Market Trend

The growing online duty-free shops is a duty-free retailing market trend that is expected to have a positive impact in the coming years. Since the outbreak of COVID-19, consumers now prefer online shopping compared to in-store shopping. Major vendors of the global duty-free retailing market, such as Dufry AG, Delhi Duty Free, and Dubai Duty Free, have launched their online sites to provide a hassle-free shopping experience to their customers. These online stores provide several promotions such as discounts to attract more customers. The online stores also provide additional services as well. For instance, the duty-free shop at Delhi Airport has launched a click and collect service that allows international passengers to order products online and collect them from the store on the day of their travel. Thus, the growing popularity of online duty-free shops is expected to fuel the growth of the global duty-free retailing market during the forecast period.

Key Duty-free Retailing Market Challenge

The stringent government regulations on duty-free tobacco products will be a major challenge for the duty-free retailing market during the forecast period. During the last decade, various countries across the world have implemented strict regulations on the sales of tobacco products such as cigarettes through duty-free stores. The government took this step to minimize tobacco usage in response to an increase in the number of fatal diseases associated with the regular consumption of tobacco products such as cigarettes. The unavailability of various foreign brands such as Benson and Hedges and Lambert and Butler is another factor that hinders the sales of cigarettes through duty-free stores. Therefore, the heavy restrictions on sales and allowances of duty-free tobacco products such as cigarettes will be a challenge for the growth of the global duty-free retailing market during the forecast period.

This duty-free retailing market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global duty-free retailing market as a part of the global internet and direct marketing retail market within the global retailing market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the duty-free retailing market during the forecast period.

 

Duty-free Retailing Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 8.56%

Market growth 2022-2026

$ 6.04 billion

Market structure

Fragmented

YoY growth (%)

8.29

Regional analysis

APAC, Europe, North America, Middle East and Africa, and South America

Performing market contribution

APAC at 44%

Key consumer countries

US, China, Japan, France, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Aer Rianta International, Changi Airport Group Singapore Pte. Ltd., China Duty Free Group Co. Ltd., Delhi Duty Free Services Pvt. Ltd., DFS Group Ltd., Dubai Duty Free, Dufry AG, Duty Free Americas Inc., Flemingo International, Gebr. Heinemann SE and Co. KG, Hyundai Department Store Group Co. Ltd., Japan Airport Terminal Co. Ltd., King Power Group, Lagardere SA, Lotte Corp., Mumbai Duty Free, Samsung Electronics Co. Ltd., and SHINSEGAE INTERNATIONAL

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Duty-free Retailing Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive duty-free retailing market growth during the next five years
  • Precise estimation of the duty-free retailing market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the duty-free retailing market industry across APAC, Europe, North America, Middle East and Africa, and South America
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of duty-free retailing market vendors

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Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2020
  • Market outlook: Forecast for 2020 - 2025

Five Forces Analysis

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Product

  • Market segments
  • Comparison by Product
  • Fashion apparel and accessories - Market size and forecast 2020-2025
  • Cosmetics and perfumes - Market size and forecast 2020-2025
  • Tobacco and alcoholic beverages - Market size and forecast 2020-2025
  • Confectionery and fine foods - Market size and forecast 2020-2025
  • Market opportunity by Product

Market Segmentation by Distribution channel

  • Market segments
  • Comparison by Distribution channel
  • Airports - Market size and forecast 2020-2025
  • Others - Market size and forecast 2020-2025
  • Market opportunity by Distribution channel

Customer landscape

  • Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • APAC - Market size and forecast 2020-2025
  • Europe - Market size and forecast 2020-2025
  • North America - Market size and forecast 2020-2025
  • MEA - Market size and forecast 2020-2025
  • South America - Market size and forecast 2020-2025
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • DFS Group Ltd.
  • Dubai Duty Free
  • Dufry AG
  • Gebr. Heinemann SE and Co. KG
  • HOTEL SHILLA Co. Ltd.
  • James Richardson Group
  • King Power International Co. Ltd.
  • Lagardere SCA
  • Lotte Shopping co. Ltd.
  • LVMH Moet Hennessy - Louis Vuitton

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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Duty-free Retailing Market market growth will increase by $6.04 bn during 2022-2026.
The duty-free retailing market market is expected to grow at a CAGR of 8.56% during 2022-2026.
Technavio has segmented the duty-free retailing market market by product (Fashion apparel and accessories, Cosmetics and perfumes, Tobacco and alcoholic beverages, and Confectionery and fine foods) ,distribution channel (Airports, Others, others, MEA, and South America) , and geography (APAC, Europe, North America, Middle East and Africa, and South America).
Aer Rianta International, Changi Airport Group Singapore Pte. Ltd., China Duty Free Group Co. Ltd., Delhi Duty Free Services Pvt. Ltd., DFS Group Ltd., Dubai Duty Free, Dufry AG, Duty Free Americas Inc., Flemingo International, Gebr. Heinemann SE and Co. KG, Hyundai Department Store Group Co. Ltd., Japan Airport Terminal Co. Ltd., King Power Group, Lagardere SA, Lotte Corp., Mumbai Duty Free, Samsung Electronics Co. Ltd., SHINSEGAE INTERNATIONAL are a few of the key vendors in the duty-free retailing market market.
APAC will register the highest growth rate of 44% among the other regions. Therefore, the duty-free retailing market market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the duty-free retailing market market growth are:
  • Growing international tourism
  • Growing online duty-free shops
The duty-free retailing market market vendors should focus on grabbing business opportunities from the fashion apparel and accessories segment as it accounted for the largest market share in the base year.
  • What are the key global market and the regional market share?
  • What are the revenue-generating key market segments?
  • What are the key factors driving and challenging this market’s growth?
  • Who are the key market vendors and their growth strategies?
  • What are the latest trends influencing the growth of this market?
  • What are the variables influencing the market growth in the primary regions?
  • What are the factors influencing the growth of the parent market?
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  • Data on revenue-generating market segments
  • Details on the market shares of various regions
  • Five-force market analysis

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