Duty-Free Retailing Market is Expected to Reach $94.2 Billion by 2031, At a Booming 10.6% Growth Rate During 2021-2031


Duty-Free Retailing Market

Duty-Free Retailing Market

The airports sub-segment emerged as the global leader in 2021 and is predicted to show the fastest growth in the upcoming years

The duty-free retailing industry is gaining huge popularity owing to the rapid increase in the number of air passengers across the world. ”

— Roshan Deshmukh

5933 NE WIN SIVERS DRIVE, PORTLAND, OR, UNITED STATES, October 3, 2023 /EINPresswire.com/ — 𝐓𝐡𝐞 𝐝𝐮𝐭𝐲-𝐟𝐫𝐞𝐞 𝐫𝐞𝐭𝐚𝐢𝐥𝐢𝐧𝐠 𝐦𝐚𝐫𝐤𝐞𝐭 𝐰𝐚𝐬 𝐯𝐚𝐥𝐮𝐞𝐝 𝐚𝐭 $𝟑𝟑.𝟕 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝟐𝟎𝟐𝟏, 𝐚𝐧𝐝 𝐢𝐬 𝐞𝐬𝐭𝐢𝐦𝐚𝐭𝐞𝐝 𝐭𝐨 𝐫𝐞𝐚𝐜𝐡 $𝟗𝟒.𝟐 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟑𝟏, 𝐠𝐫𝐨𝐰𝐢𝐧𝐠 𝐚𝐭 𝐚 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟏𝟎.𝟔% 𝐟𝐫𝐨𝐦 𝟐𝟎𝟐𝟐 𝐭𝐨 𝟐𝟎𝟑𝟏.

According to a new report published by Allied Market Research, titled, “Duty-Free Retailing Market by Product Type, by Sales Channel: Global Opportunity Analysis and Industry Forecast, 2021-2031″ The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.

𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/request-sample/53592

Globally the number of travelers across the world are increasing rapidly owing to rise in number of airport visitors. This is majorly owing to rise in the number of domestic and international travelers. The number of inbound and outgoing travelers is increasing significantly owing to rise in the number of airports visitors globally. Sports travel, business meetings have led to an increase in the number of travelers. For instance, UEFA Euro, UEFA Champions League, Summer Olympic games, and Premier Leagues are some of the key events that have attracted large number of travelers. Such sports events organized by several countries have led to an increase in the number of tourists and visitors. Owing to the same, the demand for duty-free retailing products across airports such as branded items, perfumes have observed significant growth.

Some of the leading countries that have reported large-number of tourists include All the major European & Asian countries namely Germany, Switzerland, Italy, Japan, Singapore, Thailand, and others have attracted large number of visitors from across the world. These factors have largely contributed towards duty-free retailing market sales.

However, duty-free shops are very responsive to international exchange rates. They are impacted by changes in the global market even though they operate in various nations and frequently trade in a variety of currencies, including the exchange rates for the Euro, Dollar, and British Pound. These currencies are converted using the current day’s exchange rate. Depending on the changing exchange rate, duty-free retail firms, notably retail chains that sell luxury products, may be favorably or adversely impacted by currency exchange rates in the worldwide market. Growth in disposable incomes worldwide, majorly in the Asia-Pacific region is likely to offer lucrative growth opportunities to the duty-free retailing market during the forecast period. Duty-free shoppers in the Asia-Pacific region increasingly use digital platforms to facilitate their purchases.

𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐚𝐧𝐝 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/checkout-final/3624226493172c23b586510756e4d879

The global duty-free retailing market share is segmented based on product type, sales channel, and region. By product type, it is classified into perfume & cosmetics, electronics, wine & spirits, food, confectionery & catering, tobacco, luxury goods and others. By sales channel, it is classified into airport, cruise liners, railway stations, border and down-town & hotel shop. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The report offers a comprehensive analysis of the global duty-free retailing market trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working towards the growth of the market. The report also sheds light on the present scenario and duty-free retailing market forecast trends & developments that are contributing to the growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with the Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and emergence of substitutes in the market. The complete qualitative and quantitative duty-free retailing market analysis is provided in the report.

The key players profiled in the duty-free retailing market report include 𝐃𝐮𝐭𝐲-𝐅𝐫𝐞𝐞 𝐀𝐦𝐞𝐫𝐢𝐜𝐚𝐬, 𝐒𝐇𝐈𝐍𝐒𝐄𝐆𝐀𝐄 𝐃𝐔𝐓𝐘-𝐅𝐑𝐄𝐄, 𝐀𝐞𝐫 𝐑𝐢𝐚𝐧𝐭𝐚 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥, 𝐃𝐮𝐛𝐚𝐢 𝐃𝐮𝐭𝐲-𝐅𝐫𝐞𝐞, 𝐂𝐡𝐢𝐧𝐚 𝐃𝐮𝐭𝐲-𝐅𝐫𝐞𝐞 𝐆𝐫𝐨𝐮𝐩 𝐂𝐨., 𝐋𝐭𝐝., 𝐋𝐎𝐓𝐓𝐄 𝐇𝐎𝐓𝐄𝐋., 𝐃𝐔𝐅𝐑𝐘 𝐀𝐆, 𝐇𝐘𝐔𝐍𝐃𝐀𝐈 𝐃𝐄𝐏𝐀𝐑𝐓𝐌𝐄𝐍𝐓 𝐒𝐓𝐎𝐑𝐄 𝐃𝐔𝐓𝐘-𝐅𝐑𝐄𝐄, 𝐋𝐚𝐠𝐚𝐫𝐝è𝐫𝐞 𝐠𝐫𝐨𝐮𝐩, 𝐚𝐧𝐝 𝐋𝐕𝐌𝐇.

𝐊𝐞𝐲 𝐁𝐞𝐧𝐞𝐟𝐢𝐭𝐬 𝐅𝐨𝐫 𝐒𝐭𝐚𝐤𝐞𝐡𝐨𝐥𝐝𝐞𝐫𝐬:

○ The report provides an exclusive and comprehensive analysis of the global duty-free retailing market trends along with the duty-free market forecast
○ The report elucidates the duty-free retailing market opportunity along with key drivers, and restraints of the market. It is a compilation of detailed information, inputs from industry participants and industry experts across the value chain, and quantitative and qualitative assessment by industry analysts
○ Porter’s five forces analysis helps analyse the potential of the buyers & suppliers and the competitive scenario of the market for strategy building
○ The report entailing the duty-free retailing market analysis maps the qualitative sway of various industry factors on market segments as well as geographies
○ The data in this report aims on market dynamics, trends, and developments affecting the duty-free retailing market forecast.

𝐄𝐧𝐪𝐮𝐢𝐫𝐞 𝐌𝐨𝐫𝐞 𝐀𝐛𝐨𝐮𝐭 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/purchase-enquiry/53592

𝐑𝐞𝐚𝐬𝐨𝐧𝐬 𝐭𝐨 𝐛𝐮𝐲 𝐃𝐮𝐭𝐲-𝐅𝐫𝐞𝐞 𝐑𝐞𝐭𝐚𝐢𝐥𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭:

○ Procure strategically important competitor information, analysis, and insights to formulate effective R&D strategies.
○ Recognize emerging players with potentially strong product portfolio and create effective counter-strategies to gain competitive advantage.
○ Classify potential new clients or partners in the target demographic.
○ Develop tactical initiatives by understanding the focus areas of leading companies.
○ Plan mergers and acquisitions meritoriously by identifying Top Manufacturer.
○ Develop and design in-licensing and out-licensing strategies by identifying prospective partners with the most attractive projects to enhance and expand business potential and Scope.
○ Report will be updated with the latest data and delivered to you within 2-4 working days of order.
○ Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
○ Create regional and country strategies on the basis of local data and analysis.

𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 “𝐀𝐌𝐑 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬:

Airport Retailing Market to reach 40,592.8 million in 2027
Luxury Cosmetics Market is expected to garner $81,247.6 million by 2026

○ Sunglasses Market is estimated to reach $18,164 million by 2027

○ Luxury Jewelry Market is projected to reach $40.19 billion by 2031

○ Luxury Apparels Market is projected to reach $278,181.5 million by 2031

○ Luxury Footwear Market is projected to reach $39,987.4 million by 2030

David Correa
Allied Analytics LLP
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