Travel Retail Global Market Report 2025| Business Growth, Development Factors, Current and Future Trends till 2029

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The Business Research Company’s Travel Retail Global Market Report 2025 - Market Size, Trends, And Global Forecast 2025-2034

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How Much Is The Travel Retail Market Worth?
The size of the travel retail market has seen a swift expansion in the past few years, progressing from $88.76 billion in 2024 to a projected $99.87 billion in 2025, marking a compound annual growth rate (CAGR) of 12.5%. This substantial growth during the historical period can be traced back to factors such as an increase in disposable income, a surge in global urbanization, the expansion of the leisure and tourism industry, the growth of airports and other travel hubs, and the rising demand for luxury products.

In the coming years, the travel retail market is projected to experience a quick expansion, with its valuation estimated to reach $166.58 billion by 2029, growing at a compound annual growth rate (CAGR) of 13.6%. This surge during the prediction period is thanks to increasing globalization, a rising demand for individualized shopping experiences, a greater use of technology for elevating customer experience, growing preferences for sustainable and eco-friendly products, and a heightened demand for online travel retail. The anticipated period also sees a trend of integrating sophisticated technology, partnerships between travel retailers and service providers, incorporating augmented reality (AR) and virtual reality (VR), launching contactless and seamless payment systems, and using data analytics for customized marketing and customer engagement.

Download a free sample of the travel retail market report:
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What Are The Factors Driving The Travel Retail Market?
The surge in international travellers is set to fuel the expansion of the travel retail market. The rise of mass tourism and all-inclusive vacation packages has made travel accessible to a larger population. Travel retail provides global tourists the ease of reserving their tickets anywhere with internet access, simplifying their travel plans. Thus, as the number of worldwide travels multiply, so does the demand for travel retail. For example, data from the UN Tourism, a Spain-based United Nations agency, revealed that about 790 million tourists embarked on international travels in the first seven months of 2024, marking an 11% growth compared to the corresponding period in the previous year. Hence, this upswing in international travel is predicted to bolster the growth of the travel retail market.

Who Are The Major Players In The Travel Retail Market?
Major players in the Travel Retail include:

• Aer Rianta International
• China Duty Free Group Co Ltd.
• Dufry AG
• Duty Free Americas Inc.
• Gebr Heinemann SE & Co KG
• King Power International Group
• Lotte Hotel & Resorts
• Lagardère SCA
• The Shilla Duty Free
• DFS Group

What Are The Key Trends And Market Opportunities In The Travel Retail Sector?
The progress in technology is a leading trend gaining traction in the travel retail sector. This advancement represents an evolution of knowledge that furthers the field of technology. Retailers in the travel industry are employing data insights such as precise information about customer arrivals and destinations to meet specific needs. Both staff configuration and retail showcases are tailored to consider the language and cultural awareness of the incoming passengers, ensuring appropriate products are clearly displayed for the target customers. For example, the O2 Store, a British retail chain, launched its inaugural AWS's Just Walk Out enabled store in London in July 2024. This revolutionary store integrates advanced technology that enables customers to shop without conventional checkout methods, leveraging touchless payments and AI-driven surveillance for a frictionless shopping journey. By competently handling a high volume of foot traffic, particularly during events, it not only boosts customer pleasure but also increases operational effectiveness through instantaneous data analytics.

Which Segment Accounted For The Largest Travel Retail Market Share?
The travel retailmarket covered in this report is segmented –

1) By Product Type: Perfume And Cosmetics, Wine And Spirit, Electronics, Luxury Goods, Food, Confectionery, And Catering, Tobacco, Other Products
2) By Channel: Airports, Cruise Lines, Border, Down Town and Hotel Shops, Railway Stations, Other Channels
3) By End Users: Children (Less Than 18 Years Old), Youth (18-30 years Old), Middle-Aged (18-59 Years old), The Elder (Greater Than 60 Years Old)

Subsegments:
1) By Perfume And Cosmetics: Fragrances, Skincare Products, Makeup
2) By Wine And Spirit: Wine, Spirits, Champagne And Sparkling Wine
3) By Electronics: Personal Electronics, Travel Accessories
4) By Luxury Goods: Fashion Accessories, Designer Clothing
5) By Food, Confectionery, And Catering: Gourmet Foods, Chocolates And Sweets, Ready-To-Eat Meals
6) By Tobacco: Cigarettes, Cigars, Smokeless Tobacco Products
7) By Other Products: Souvenirs, Health And Wellness Products, Travel Accessories

View the full travel retail market report:
https://www.thebusinessresearchcompany.com/report/travel-retail-global-market-report

What Are The Regional Trends In The Travel Retail Market?
In 2024, Asia-Pacific led the travel retail market as the most substantial region. The travel retail market report covers regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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