1. What is the projected Compound Annual Growth Rate (CAGR) of the Duty Free Retail Market?
The projected CAGR is approximately 7.50%.
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Duty Free Retail MarketDuty Free Retail Market by Type (Perfumes, Cosmetics, Alcohol, Cigarettes, Others), by Sales Channel (Airports, Onboard Aircraft, Seaports, Train Stations, Others), by North America (U.S., Canada, Mexico), by Europe (Germany, U.K., France, Italy, Spain, Russia, Rest of Europe), by Asia Pacific (China, Japan, South Korea, Australia, Thailand, Rest of Asia Pacific), by South America (Brazil, Argentina, Chile, Rest of South America), by Middle East & Africa (South Africa, Egypt, UAE, Saudi Arabia, Rest of the Middle East & Africa) Forecast 2026-2034
The Duty Free Retail Market size was valued at USD 39.08 USD Billion in 2023 and is projected to reach USD 64.84 USD Billion by 2032, exhibiting a CAGR of 7.50 % during the forecast period. The term “duty-free retail” refers to products bought with no taxes and duties levied on them, most often at international airports, seaports and border posts. Customers, who are mainly travelers, get various products like alcohol, tobacco, cosmetics, and luxury items at this points of sale. Airports duty-free, border duty-free and downtown duty-free shops can be listed as the three major categories for duty-free Shopping. They usually involve shops, storage systems, salespersons and safekeeping regulations and requirements. There are 3 main trends in duty-free shopping currently which are an expansion of online duty-free shopping, a greater attention on luxury and high-end products and working to increase the shopping experience through digitalization and personalized services.
Type:
Sales Channel:
Our comprehensive duty free retail market report offers in-depth analysis covering:
| Aspects | Details |
|---|---|
| Study Period | 2020-2034 |
| Base Year | 2025 |
| Estimated Year | 2026 |
| Forecast Period | 2026-2034 |
| Historical Period | 2020-2025 |
| Growth Rate | CAGR of 7.50% from 2020-2034 |
| Segmentation |
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Note*: In applicable scenarios
Primary Research
Secondary Research
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence
The projected CAGR is approximately 7.50%.
Key companies in the market include China Duty Free Group (China), Lotte Duty Free (South Korea), The Shilla Duty Free (South Korea), Dufry AG (Switzerland), DFS Group (China), Gebr. Heinemann SE & Co. KG (Germany), Shinsegae Duty Free Inc. (South Korea), The King Power International Group (Thailand), Lagardère Group (France), Dubai Duty Free (UAE).
The market segments include Type, Sales Channel.
The market size is estimated to be USD 39.08 USD Billion as of 2022.
Growing Demand for Bath Towels from End-use Industries to Propel the Market Growth.
Dental Spas to Add Impetus to Industry Growth.
Currency Fluctuations to Hamper Product Demand Globally.
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The market size is provided in terms of value, measured in USD Billion.
Yes, the market keyword associated with the report is "Duty Free Retail Market," which aids in identifying and referencing the specific market segment covered.
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