Duty-free Retailing Market by Product, Distribution Channel, and Geography - Forecast and Analysis 2021-2025

  • Published: Jul 2021
  • Pages: 120
  • SKU: IRTNTR40625
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The duty-free retailing market has the potential to grow by USD 5.30 billion during 2021-2025, and the market’s growth momentum will accelerate 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. Furthermore, this report extensively covers market segmentation by product (fashion apparel and accessories, cosmetics and perfumes, tobacco and alcoholic beverages, and confectionery and fine foods), distribution channel (airports, border, downtown, and hotel shops, and others), and geography (APAC, Europe, North America, MEA, and South America). The duty-free retailing market report also offers information on several market vendors, including 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., and LVMH Moet Hennessy - Louis Vuitton among others.

What will the Duty-free Retailing Market Size be in 2021?

Duty-free-Retailing-Market-Market-Size-2020-2025

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Duty-free Retailing Market: Key Drivers and Trends

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The exemption of excise duty on premium products is notably driving the duty-free retailing market growth, although factors such as restriction on baggage weight in flights may impede market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the duty-free retailing industry get your FREE report sample now.

  • The exemption of excise duty on premium products is one of the major factors driving the revenue growth in the duty-free retailing market.
  • The majority of sales in the duty-free retailing market is generated through luxury brands offering fashion goods, accessories, hard luxury items, cosmetics, fragrances, and wines and spirits.
  • Exemption of excise and customs duty on the luxury brands sold in the duty-free shops at airports, cruise lines, and international borders, significantly helps in lowering their price in comparison to other retail formats.
  • This increases their affordability among the larger population base including the price-sensitive customers, which helps to drive sales in the global duty-free retailing market.
  • The number of inbound and outbound tourism is growing at a rapid pace across the globe which is accelerating the retail sales of luxury and branded products, especially through duty-free retail outlets.
  • Lucrative opportunities in revenue generation from duty-free retail outlets have led the airport authorities across the globe to rely less on the core aviation segment and explore other means of revenue sourcing such as advertisements and duty-free retailing. 
  • Market vendors such as Lagardère and Dufry are focusing on attracting international tourists by opening new duty-free retail outlets in airports.
  • China has become one of the major contributors to the duty-free retailing market and is concentrating on expanding space for duty-free shops across its airports.

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. Get detailed insights on the trends and challenges, which will help companies evaluate and develop growth strategies.

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:

 

  • 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

 

The duty-free retailing market is fragmented and the vendors are deploying growth strategies such as innovating their retail stores with efficient and automated technology to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

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.

Download a free sample of the duty-free retailing market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

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

Duty-free-Retailing-Market-Market-Share-by-Region-2020-2025

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44% of the market’s growth will originate from APAC during the forecast period. South Korea (Republic of Korea) and China 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 Europe, MEA, and South America.

The increasing sales from the airport distribution channel segment will facilitate the duty-free retailing market growth in APAC over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

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

Duty-free-Retailing-Market-Market-Share-by-Product-2020-2025

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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. The major product driving the sales in this category include precious jewelry, briefcases, handbags, shoes, and smartphones. The growing demand for these high-end and luxury products is attributable to factors such as the rising disposable income, the growing influence of the fashion industry on consumers' purchase decisions, coupled with the growing desire and preference for luxury and branded products. 

Fetch actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the duty-free retailing market size.

 

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

  • CAGR of the market during the forecast period 2021-2025
  • 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 industry across APAC, Europe, North America, MEA, 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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Duty-free Retailing Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 8.56%

Market growth 2021-2025

USD 5.30 billion

Market structure

Fragmented

YoY growth (%)

8.29

Regional analysis

APAC, Europe, North America, MEA, and South America

Performing market contribution

APAC at 44%

Key consumer countries

South Korea (Republic of Korea), China, US, UK, and Germany

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

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., and LVMH Moet Hennessy - Louis Vuitton

Market Dynamics

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

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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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
    Technavio

    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
    Technavio

    TechnavioREPORT WRITING

    Qualitative

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

    Quantitative

    • Market size and forecast
    • Market segmentation
    • Geographical insights
    • Competitive landscape
    Interested in this report?
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    The duty-free retailing market growth will increase by $53.50 billion during 2019-2024.
    The duty-free retailing market is expected to grow at a CAGR of 9.33% during 2019-2024.
    Technavio has segmented the duty-free retailing market by product (Fashion apparel and accessories, Cosmetics and perfumes, Tobacco and alcoholic beverages, and Confectionery and fine foods) and geographic (APAC, Europe, North America, MEA, and South America).
    DFS Group Ltd., Dubai Duty Free, Dufry Ltd., Gebr. Heinemann SE & Co. KG, HOTEL SHILLA Co. Ltd., JR /Group, King Power International Co. Ltd., Lagardère Group, LOTTE SHOPPING Co. Ltd., LVMH Moët Hennessy - Louis Vuitton SE are a few of the key vendors in the duty-free retailing market.
    APAC will register the highest growth rate of 48.00% among the other regions. Therefore, the duty-free retailing market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
    • South Korea (Republic of Korea)
    • China
    • US
    • UK
    • Germany
    The key factors driving the duty-free retailing market growth are:
    • Exemption of excise duty on premium products
    • High growth rate of duty-free retailing in developing regions
    The duty-free retailing 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.
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