Dublin, June 28, 2023 (GLOBE NEWSWIRE) -- The "Duty-Free Retailing Market Size and Analysis by Region, Sector Analysis by Key Countries, Tourism Landscape, Trends, Innovations, Opportunities, Key Players and Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
This report provides an overview of the global duty-free retailing which includes Market & Category Expenditure and Forecasts, Trends, and Competitive Landscape.
The global duty-free market grew by 73.3% in 2022, reaching sales of $49 billion, its highest level ever as it bounced back from the pandemic impact.
- New initiatives are being introduced to drive demand from consumers
- Duty-free retailers are modifying their offer in line with changing consumer tastes
- Diversification key to protect against geopolitical turbulence
Key Highlights
- The duty-free market in the APAC region showed strong growth of 81.9% in 2022, growing from $18 billion in 2021 to $32.7 billion as traveler numbers surged in response to the lifting of travel restrictions.
- The European duty-free market surged 63.3% in 2022 to $9.5 billion from $5.8 billion in 2021 owing to greater movement of people across the Eurozone.
- Duty-free sales in the Middle East & Africa region recorded annual growth of 50.3% to reach $3.2 billion in 2022, following growth of 42.9% in 2021 and a decline in sales in 2020.
- When a geopolitical development or a health crisis affects a particular region significantly, duty-free retailers need sales from other regions to cushion the adverse impact for instance to offset disruption resulting from the Russia-Ukraine conflict or China's stringent COVID-19 regulations.
Reasons to Buy
- Gain a comprehensive knowledge on Global Duty Free market and develop a competitive advantage
- Investigate current trends in the global duty free market to identify the best opportunities to exploit
- Analysis of key duty free players operating globally
- Explore novel opportunities that will allow you to align your product offerings and strategies to meet demand by analyzing the key consumer and technology trends influencing the duty free market globally
- Analyze the recommended actions to align your marketing strategies with the crucial trends influencing consumer behavior
- 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
Key Topics Covered
- Executive Summary
- Market Analysis
- Regional Summaries
- Sector Analysis
- Tourism Landscape
- Key Trends
- Key Retail Innovations
- Competitive Landscape
- New Opportunities
- Appendix
A selection of companies mentioned in this report includes:
- Lotte Duty Free
- Shinsegae DF
- DUFRY
- DFS
- Dubai Duty Free
- King Power
- Duty Free Americas
- Heinemann
- James Richardson
- Travel Retail Norway
For more information about this report visit https://www.researchandmarkets.com/r/lbw1pa
Source: GlobalData
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
